Dont let the product name fool you. Black Mountains Fixed Asset system helps you manage ALL of your assets; capitalized or otherwise. It is an essential component for complying with GASB34 reporting and a powerful tool you can utilize to manage, track, and dispose of non-capitalized but, never-the-less, valuable assets.
Tight integration with the Accounting AP system eases identification of purchses that qualify for entry into the Fixed Asset system, making data entry and asset definition a straightforward process. When youre ready, a click of a button, posts system generated accounting entries to the Accounting system GL.
- Manage all physical assets - System provides for managing capitalized as well as non-capitalized assets.
- Descriptive Asset Information - Set up a location hierarchy that includes: Location, Building, Room and Person Responsible.
- Identify and classify your assets through the use of Tag, Item Class, Type Class, Organization, Description, Remarks, and Asset Status.
- Record: Quantity, Unit Cost, Total Cost, Date Acquired, Replacement Value, Salvage Value, Useful Life, Depreciation Method, and Disposal Date.
- System Calculates adjusted 1st year depreciation, Annual Depreciation and Total Depreciation.
- Critical Accounting Information Set up all associated accounting entries over the life of the asset: Acquisition Accounting, Depreciation, Transfers, and Disposal.
- Accounting System supplies acquisition accounting from the claim invoice upon entry of Vendor Code.
- Set up Depreciation accounting one time to automatically generate each year of depreciation entries and history.
- Record Transfer Accounting to move the asset to a new fixed asset account.
- Enter Disposal account line to complete the assets useful life.
- Automatically Generates Accounting Entries
- All accounting entries are journalized by the fixed asset system. The Journal Voucher is sent to the accounting system and posted to the ledgers at your convenience.
- Automatically update replacement values once a year for insurance purposes. System uses the most current years CPI index. CPI index is updated in the Asset system once a year as soon as it is available.
- Work directly from each record to easily import digital photographs of your assets and inventory items. The photograph is available for instant viewing each time the asset record is accessed.
- Asset System looks at Accounting System claims to find assets or inventory. Any items in a claim marked as inventory or are coded with a capitalized expenditure object are included. This simplifies entry and paperwork for the fixed asset clerk. Once these items are added as a fixed asset record and acquisition accounting is recorded they will no longer appear in the list