Fixed Assets Module

The GAAP Fixed Assets module gives management the ultimate control over capital investments and simplifies the job of depreciation calculation and reporting.  Unlimited user-defined Depreciation Table entries and multiple depreciation methods per asset item provide maximum flexibility in obtaining timely information.  The Fixed Assets module supports all currently accepted depreciation methods with the built-in ability to change with the laws.  Other major features include:

• Ability to record Investment Tax Credits and additional basis adjustments

• Three separate depreciation schedules per asset items for “book”, “tax” and “alternate” recording

• Supports Accelerated Cost Recovery System (ACRS), Straight Line, Declining Balance, no depreciation, and other user-defined methods

• Automatically creates Journal Voucher for the General Ledger with the “book” depreciation transaction.  Depreciation transactions may be calculated, booked, and reported by individual asset items or by selected “asset categories”

• Provides an automatic audit trail of calculated and booked depreciation entries made for any asset item and for any range of accounting dates.  This audit trail may be displayed or printed at any time.

• Acquisition and retirements may be reported by asset category or by cost center, for any period or range of specified periods

• Ability to suspend depreciation on any item for any length of time

• On-screen display and maintenance of the master file, including such ancillary information as insurance policy numbers and amounts, inspection and maintenance data, and vendor purchase date.