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The Fixed Asset System is designed to reduce the time and effort involved in maintaining the necessary information for depreciation assets. The following features are available:

  • Two methods of depreciation are available:
    • straight-line
    • declining balance
  • Depreciation on each asset is calculated for book or tax purposes
  • Fields are provided for the location of each asset, serial numbers, investment tax credits, insurance and property classes
  • The system allows for multiple locations, departments and classes of assets
  • The depreciation expense and accumulated depreciation for each asset can be viewed on the screen
  • The system will ensure that the accumulated Net Book Value does not exceed the cost of the asset
  • Depreciation is calculated by asset category to aid in general ledger accounting
  • Reports are available detailing asset additions and dispositions for the fiscal year to help in preparation of tax returns
  • A report writer can be purchased separately to aid in creating customized reports

Other Applications

The following applications are designed to work hand-in-hand with Fixed Asset Accounting:

"Fixed Asset Accounting" is part of the Polymathic General Accounting line of products, developed by Polymathic Group.