Fixed Assets

AN INTEGRATED FUND ACCOUNTING SOLUTION

• Manage Both Inventory And Capitalized Assets - System provides for managing both Capitalized Assets as well as valuable inventory items without having to set up a special definition.
• Critical Descriptive 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.
• Replacement Values - 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.
• Digital Photo Of Asset Or Inventory Item - 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.
• Assets And Inventory Items Not In The Fixed Asset System - 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.

THERE ARE MANY BUILT IN REPORTS AND REPORT VARIATIONS. A FEW EXAMPLES ARE:

• Assets by Tag
• Assets by Physical Location
• Assets by Person Responsible
• Assets by Item Class
• Assets by Organization
• Assets by Type Class
• Summary by Asset Fund Group
• Detail by Asset Fund Group
• Depreciation Accounting by Tag
• Summary by Method Acquired
• Disposed Assets
• Acquisition History by Fund, Account, Object
• Depreciation Accounting by Tag
• Depreciation Accounting by Fund, Account, Object
• Depreciated Value by Location
• Depreciated Value by Type Class
• Depreciated Value by Asset Fund Group
• Insurance Detail by Location
• Insurance Detail by Type Class
• Reports can be printed to screen for preview, directly to printer, to a file or to email