Fixed Asset Management
Fixed Asset Management provides you with an easy-to-manage, single version of the truth for your fixed assets. It enables you to maintain and control the complete lifecycle across depreciating or non-depreciating assets from creation to depreciation, revaluation and disposal. Our Fixed Asset Management supports detailed PMV management link, including maintenance schedules and insurance, while providing tight accounting integration so that your fixed asset information is always presented accurately on the financial statements.
Fixed Assets Management designed to providing you with fast, dependable, customizable fixed asset management to maximize your bottom line. Fixed Assets combines acknowledged depreciation expertise and user friendliness with the added power, data security, and functionality that your business situation demands.
Run projection depreciation calculations and move fixed assets between business units with ease. Fixed Assets provides you with the additional ability to execute partial and whole transfers and disposals, conduct bulk disposals with automatic gain/loss calculations, and track transfer activity with as little as a single keystroke.
It allows you define groups of assets as you go. Definitions can be based on any characteristic, including type, location, custodian, and acquisition date etc.
Integration with the Purchase Order Module allows you to easily convert purchases into fixed assets without re-entering data. Eligible purchases are automatically displayed to simplify the conversion process.
Execute partial and whole asset transfers and disposals individually to user-defined depreciation schedules. For bulk disposals, the system automatically calculates gain/loss on individual assets.
Select a predefined depreciation schedules. You can schedule the depreciation using any of the available standard methods (e.g., straight-line, fixed declining, sum-of-the-years-digit, etc.). Each depreciation method can include different averaging conventions as well as useful life and recovery periods.
Store asset photos, purchase orders, maintenance agreements, warranties, invoices, and other documentation in the asset file and view them on screen at any time. These images provide you with a complete and readily accessible record of all asset data.
Drill-down capabilities to see the underlying detail from the financial statements to the related fixed asset transaction. Out-of-the-box asset summary reporting to show beginning balances, changes during the period and ending balances.
Benefits at a glance
- Life cycle management tracks assets from acquisition through final disposition
- Detailed asset profile provides complete depreciation history to assist with asset retirement management.
- Group assets to depreciate all the assets in each account as a single item.
- Automatic calculation of the depreciation according to the predetermined plan
- Automatic links to financial modules enables calculated depreciation entries to be posted directly to the general ledger.
- Fixed Assets utilizes an intuitive interface that’s easy to implement, learn, and use. Asset Masters ensure that you can create new assets quickly and accurately.
- Reduce associated operational costs
- Eliminate human errors in processing documents related to fixed assets
- Obtain visibility and control over any operations on fixed assets