Is EmpowerFinancials right for your business?

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EmpowerFA is a comprehensive asset management system designed to give you complete control over each event in the life of an asset.

EmpowerFA increases your ability to manage your asset base by collecting a variety of information for each asset. In addition to basic asset ID and description, EmpowerFA records all information related to the purchase of the asset, the ways in which the asset is depreciated, where the asset is located, what groups it belongs to, how to account for all transactions that affect your financial statements, and what parameters are needed for insuring and/or budgeting to replace the asset.

Once the asset is recorded, EmpowerFA enables each asset to be depreciated within multiple books, such as book, tax or state reporting. Within each book, EmpowerFA supports a wide variety of depreciation methods, including straight line, MACRS, and ACRS.

We also realize that to effectively manage your asset base you need to go beyond just recording and depreciating your assets. Empower-FA’s physical count module provides an efficient methodology to periodically count each asset and document the date of the physical count.

EmpowerFA’s ability to assign each asset to multiple groups means you can track the use of an asset in multiple ways.

Additional management information, such as replacement costs tied to industry-specific indexes, means better control and management of all your assets.

Features Checklist

Asset Information

  • Up to 50 alphanumeric character asset ID
  • Unlimited number of characters for the asset description
  • Include scanned images for easier identification of the asset
  • Record manufacturer, model serial number, PO # and vendor information for each asset
  • Pre-defined asset classes assign depreciation values and GL accounts automatically
  • Track leased assets
  • Track assets using user defined location codes
  • Assign assets to property tax jurisdictions
  • Assign each asset to user-defined asset categories such as computers, equipment, loan number, etc.

Depreciation

  • Unlimited number of depreciation books for each asset including:
    • Book
    • Federal tax
    • State tax
    • AMT
    • ACE
  • Separate acquisition date and in-service date
  • All IRS approved methods of depreciation including:
    • Straight line
    • Units of production
    • Declining balance
    • Sum of the years digits
    • ACRS
    • MACRS
  • Record non-depreciable assets
  • Special auto depreciation methods to enforce limits on automobile depreciation expense

Dispositions

  • Partial dispositions
  • View each depreciation books gain/loss calculation
  • Automatic calculation of depreciation expense adjustment for early retirements
  • Add additional GL journal entry transaction for any disposition
  • Permanent record of all disposed assets is maintained
  • Disposition journal entries automatically interface to EmpowerGL

Asset History

  • All changes to an asset are recorded in the asset history file including:
    • Acquisition
    • Disposition
    • Location change
    • Property tax jurisdiction change
    • General ledger asset account change
    • General ledger accumulated depreciation account change
    • Depreciable basis change
    • Asset group change

Physical Inventory

  • Create physical inventory worksheets by:
    • Department
    • Location
    • Inventory count cycle
  • Record comments and change asset location when inputting confirmation
  • Report exceptions only after the count is completed
  • Import a file of bar code readings to update asset’s last date counted

Reporting

  • Complete library of standard reports including:
    • Acquisition Register
    • Disposition Register
    • Asset History Listing
    • Replacement/Insurance Listing
    • GL - Asset Account Ledger
    • GL - Accumulated Depreciation Ledger
    • Depreciation By Period
    • Depreciation By Asset
    • Units of Production Worksheet
    • Assets By Class
    • Assets By Group
    • Assets By Location
    • Asset by Property Tax Jurisdiction
    • Inventory Worksheet
  • Easily modify any library report or create reports using the powerful PowerBuilder report writer

Inquiries

  • Inquiries put information at your fingertips. EmpowerFA provides inquiries for:
    • General Information
    • Depreciation Books
    • Location/Property Tax
    • Ledger Accounts
    • Asset Groups
    • Replacement Cost/Insurance
    • Special Taxes Attributes
    • Depreciation History
    • Asset Changes History
    • Journal Entries by Asset
    • Units of Production History
    • Disposition Information

Replacement Cost/Insurance Evaluation

  • Use an cost indexes such as the CPI to index the replacement cost of each asset
  • Record the insurance carrier of insured assets
  • Report the difference between net book value, insured value and replacement cost for analysis

Additional Features

  • Multiple companies
  • Secure access via username and password
  • Intuitive navigation
  • Establish menus/navigation by job task or by user
  • User preferences establish business rules for processing

Client Server Technology

  • Open system architecture
  • Multiple DBMS support for Oracle, Microsoft SQLServer, Sybase and SQLAnywhere
  • Client support for WindowsNT, Window 3.x or Windows95

Service and Support

  • Onsite installation
  • Onsite training
  • Custom programming
  • Source code
  • Annual maintenance
  • Software enhancement lists
  • User conferences

Other Applications

The following applications are designed to work hand-in-hand with EmpowerFA:

"EmpowerFA" is part of the EmpowerFinancials line of products, developed by EmpowerFinancials.