This module handles both tangible and intangible assets, and efficiently control the functions of fixed asset acquisition, fixed asset retirement, and depreciation calculations for all types of businesses. The control of intangible assets such as prepaid expenses and other deposits becomes an integrated component of your short-term asset management. It automates fixed asset schedules, prints supporting documents for business property statements, posts to the General Ledger, and calculates the segmentation of depreciation expenses between various entities (department, work center, etc.), thus giving you better control over your time and assets. Cumulate your tax depreciations within the same ledger, control your capital cost allowance, your repair and maintenance expenditures, and you have gained much control over this tangible part of your organization.
- Supports declining, double-declining, linear, accelerated and modified accelerated cost recovery method, sum of the years digit method, etc.
- Supports year of acquisition, year of disposal accounting convention.
- Compute your monthly or prorated (days per month) posting of the depreciation expense.
- Automatic calculation of depreciation, with flexible separate methods for book and taxes.
- Automatic output of depreciation scheduled to a spreadsheet format.
- A powerful reporting system, to prepare tax schedules and statutory documentation, property statement report, insurance coverage report, etc.
- Provisions designed to prevent duplicate posting, with full audit trails for added security.
- Flexible reporting facilities, to efficiently and effectively locate and redeploy infrastructural resources.
- Assets are identified to a physical site, building, floor, suite, workcenter, etc.
- Automatic posting, to the relevant General Ledger accounts, of all depreciation expenses which reflect multiple entity use.
- Integrated to the Accounts Payable and Procurement for asset acquisition and repairs and maintenance management reporting.
- Integrated to the Accounts Receivable for asset retiring and corresponding entries.
- Book depreciation can be multiple of years or months, auto conversion from a declining method to a linear method at a user specified amount.
- Millennium turn of the century management.
- User controlled transaction details storage duration and historical suppression process.
- Extensive memoing function to any record or field.
- Integrated audit trailability on all static and dynamic data (creation - change - deletion).