A "fixed asset" is something the enterprise has purchased that has a useful life of more than one year. Fixed Assets keeps track of all these objects and allocates part of their purchase price to each year of their life. There are a variety of ways in which this allocation can be done. For some assets, the allocation or "depreciation" is specified by law. Not all ERP packages have a Fixed Assets module.
Tables
The first table is the Fixed Asset table which contains one record for every fixed asset. The second table is the Transaction table which contains one record for every transaction (purchase, sale, depreciate, adjustment). There is at least one transaction for every fixed asset and there can be many.
Data Exchange
Fixed Assets sends transactions to General Ledger.