Fixed Asset Accounting

The Asset Accounting module provides the basic functionality for processing asset accounting transaction, including acquisition, depreciation, adjustment and disposal. Asset merge and split are also available in this module.

Acquisition

  • Acquisition can work with PO to manage the asset acquisition process.
  • Acquisition Entry book the transaction and define the asset information.
  • A/P invoice batch is automatically created from acquisition batch.

Depreciation

  • Separate depreciation for book or tax purpose respectively.
  • Depreciation calculation use standard or user-defined formula.
  • Batch-driven depreciation allows the preview of the transaction prior to posting.
  • Depreciation periods switch on/off the asset depreciation.
  • Depreciation Projection facilitates the financial planning.
  • Full support the US MACRS/ARCS rules and Canadian Tax Pooling.

Adjustment

  • Change asset value or salvage value for book or tax purpose.
  • Change asset year depreciation.
  • Transfer assets between cost centers, and locations.
  • Change asset life, depreciation method and rate for book or tax purpose.

Disposal

  • Asset is disposed at user-specified proceeds amount with user-defined proceeds account.
  • AR invoice can be generated from asset disposal batch to handle the proceeds process.

Merge/Split

  • One asset is split to multiple assets.
  • Multiple assets are merged to one asset.

Reports

  • Batch Listing.
  • GL Transaction
  • Provisional Revaluation
  • Accumulated Depreciation
  • Depreciation by Period
  • Depreciation Projection
  • US Depreciation Worksheet
  • Asset History
  • Capitalization Analysis
  • Asset Listing
  • Asset Schedule
  • PO Receipt Audit List
  • Master Assets Components