Learn the foundations of fixed asset accounting, including definitions, formulas, and applications. 1. Personnel will identify the asset(s) to be disposed, fill out Property Disposition Form and notify the.Fixed Assets Department. The way to handle a fixed asset purchase is to first create the asset as per the Guide at Manager Cloud. This has no effect on financials. In this blog, we will discuss if we can claim GST input on fixed assets, items eligible for GST credits and other relevant details. Learn about purchases of fixed assets, including stepbystep processes for validating tax detials and financial entries.