Fixed Assets module of Horizon provides you a comprehensive system for tracking your assets and for calculating and posting depreciation at the end of each accounting period. Fixed Assets allows you to take depreciation on an unlimited number of assets with an unlimited number of books for each asset.
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.
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 to define groups of assets as you go. Definitions can be based on any characteristics, 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.
Store asset photos, purchase orders, maintenance agreements, warranties, invoices, and other documentation in the asset file and view them on screen at any time.
Select a predefined depreciation schedule. You can schedule the depreciation using any of the available standard methods e.g., straight-line, fixed declining, sum-of-the-years-digit, etc.
Lifecycle management tracks assets from acquisition through final disposition
A 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 enable calculated depreciation entries to be posted directly to the general ledger.
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.
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.