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The Fixed Assets module does the following:

  • Maintains equipment/asset related files.
  • Automatically generates monthly depreciation entries.
  • Facilitates posting cost and revenue transactions against assets.
  • Accommodates posting asset charge transactions against work orders and jobs.
  • Acts as an item file for Rental Billing.
  • Provides useful inquiries and management reports.

The asset master file stores useful information such as unit number, make, model, year, serial number, purchase date, original hours, original mileage, original cost, estimated life, value of capital improvements, net book value, replacement and salvage value along with disposal date and amount.

This module automatically generates depreciation charges against each asset and makes the appropriate journal entries.

You can track material, inside labour, outside labour, interest and depreciation costs as well as repair time against each asset.

The system facilitates charging equipment against jobs and work orders. It tracks the quantity of units charged and internal revenue accrued, month by month, for this year, last year and since new.

If used with AIMS Rental Billing, this module maintains pricing for each asset by unit of measure (e.g. hour, day, week, month) and tracks units billed and revenue earned by asset, month by month, for this year, last year and since new.

One inquiry shows the master file information maintained for each asset along with a summary of repair time, material costs, inside labour costs, outside labour costs, depreciation and interest. Another shows the details for every transaction posted to or from each piece of equipment. The third inquiry shows the revenue associated with a piece of equipment.

The system comes with seven standard reports, including an Asset Valuation Report, which lists acquisitions, disposals, depreciation and net book value for any given period, by asset or tax class, and a Year to date Profit / Loss Report, which shows revenue (internal and/or external) and costs by asset for the month, year and since new.

This module integrates with Payroll, Accounts Payable, General Ledger, Job Costing and Bill of Materials / Work Order and is required by Rental Billing.

Other Applications

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

"Fixed Assets" is part of the AIMS (Accounting Information and Management System) line of products, developed by Western Canadian Software.