Fixed Assets

Maintains information on assets from initial acquisition through retirement or disposition. Depreciation can be calculated using a variety of methods, including: straight line, declining balance, ACRS, and MACRS. Track depreciation for internal, federal, and state reporting purposes.

Feature Benefit
Track 8 Books Per Asset Maintains up to eight books per asset to track different methods of depreciation to meet different reporting requirements. The depreciation calculations required for each book can be performed simultaneously for each asset. One book can be designated to automatically generate depreciation journal entries in the General Ledger component.
Assets Track all aspects of an asset including type, group, location, vendor information, acquisition date, etc. Based on the asset type, the system automatically determines the appropriate depreciation method, asset life, and tax convention.
Depreciation Methods All major depreciation methods including MACRS, ACRS, Declining Balance and Straight-Line, are supported. Each asset class, subclass and group can have an associated default depreciation method to speed up setting up new assets.
Depreciation Transactions Calculate depreciation for an individual asset or group of assets based on asset group, asset class or subclass, and asset location. Run the depreciation calculation for all books or a subset of the books by checking the appropriate box. Depreciation transactions can be posted in preview mode which allows the review of all depreciation calculations before a final posting. Depreciation transactions can be voided to allow the correction of invalid information entered on the asset record.
Integration with Purchasing Requisition and purchase order are fully integrated with Fixed Assets. Individuals can create requisitions for the purchase of fixed assets. Requisitions can be approved by manager. Items which have been approved are transferred to purchase orders. After the fixed assets have been partially or fully received an automated process can create one or more fixed assets.
Integration with G/L Seamlessly integrates with the General Ledger component. Automatically generates Journal Entries for depreciation in General Ledger.