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Organize and keep track of your fixed assets using the GMS Fixed Asset Inventory supplement. Setup fields are established for general ledger asset codes, location codes, description codes, funding source codes, and depreciation codes. A master file is established for each fixed asset which allows for documenting all pertinent purchase information, designation of setup file codes, funding source participation, depreciation information and recording disposition information. Depreciation is automatically calculated on a straight line basis for those items and the length of time specified in the master file. A Fixed Asset Listing and Depreciation Schedule may be printed for documentation purposes.
The fixed asset reports available include a Fixed Asset Listing and Depreciation Schedule and Analysis by funding source, location code, description code, GL code and by Fixed Asset code. Maintaining a complete and accurate fixed asset inventory system puts your agency in compliance with OMB Circular A-110 and A-102, assists in responding to grant/contract documentation requirements, assists in conducting a physical inventory and preparing for the audit.
"Fixed Assets" is part of the GMS Non-Profit Accounting and Financial Management line of products, developed by Grants Management Systems.