Know the Location and Value of Your Assets!
Tracking, valuing, and depreciating your assets is a time-consuming and tedious chore. Fortunately, you can automate much of this workload with SouthWare’s Fixed Assets.
Fixed Assets is a complete asset tracking and depreciation system. With it you can easily keep track of the locations and values of your various equipment, furniture, machines, buildings, and other assets. You get your depreciation calculations done for you, and you can transfer asset and depreciation information directly to SouthWare’s General Ledger. You can even get asset reports by location to help you with your property tax reporting.
With Fixed Assets, you can
- Keep current records on all your assets
- Easily handle the recordkeeping and accounting for acquisitions and disposals of assets
- Know exactly where each asset is located to help you with your property tax reporting
- Have your depreciation calculations done automatically for you
- Have your asset information and depreciation automatically updated in your General Ledger
- Easily handle asset splits
- Track asset usage such as hours or mileage
- Handle many different depreciation methods and schedules for each asset
If you’d like some help keeping up with your asset records, get Fixed Assets.
Key Features of Fixed Assets
Asset Database Features
- Extensive standard data
- 15-character Asset ID number or code
- Numerous search options
- General location for property tax reporting
- Specific location notes
- Various values including cost/basis, salvage, replacement, and insurance
- Usage unit accumulations
- Numerous tracking dates
- Owned, leased, borrowed indicator
- Notes and optional Extended Data
- Up to 99 depreciation schedules per asset
- Option to manually adjust calculated schedule for non-standard depreciation
- Numerous methods including straight-line, declining balance, usage-based, sum-of-the-years digits, statutory, ACE, and non-depreciable
- Partial period conventions of daily, full-year, full-month, half-month, half-year, mid-month, mid-quarter, and mid-year
- Optional user-defined statutory methods
- Amortization of intangible items such as prepaids - even credit items such as unearned revenue
- Flexible rounding and weighting options
Minimal Data Entry
- One-step entry of asset information
- Optional use of ImportMate to create asset records from other files
- Fast entry of usage information
- G/L accounting is based on asset categories
- Standardized property tax authority file
- Standardized asset location file
- Automatic G/L entries for acquisitions, disposals, depreciation
- Option to import Fixed Assets (Rev 7.0)
- Detailed asset listing per location
- Asset valuation reporting
- Asset trial balance
- Timing difference report
- Numerous depreciation schedules/reports Asset usage reporting
Fixed Assets can help you answer such questions as
- Where is that asset located?
- What’s our depreciation cost for this month?
- Which assets are located in this property tax jurisdiction?
- What accounting needs to be done for the disposal of this asset?
- What’s the difference between our book and tax depreciation on this asset?
- How do we update our records for this depreciation error we made two years ago?
- What is the estimated insurance value of our assets?
- What is the current G/L value of our assets?
- What’s the remaining value on this capital lease?
- What’s our total tax depreciation for this year?
- How do we record the split of this asset?
- What has been the machine hour usage on this truck during the past year?
- What are the serial numbers of the equipment items we have at this location?