This module enables performing tasks easily, such as keeping records of fixed assets, calculating aging and costs, monitoring and reporting. In addition, the system is able to hold the details of depreciation, purchasing and insurance information and deductions applied in return of early payments. Fast and error-free calculating or processing of re-valuations, charging additional expenses and investments, accounting of monthly or daily basis depreciation, full or partial sales, preparing scrapping, formal or administrative reports, inventory checking and debiting.
Even small and middle-sized enterprises have thousands of fixed assets. These fixed assets, with their repetitive end-of-month operations, require perfect integration between the general accounting, cost accounting, and purchasing units. This module lightens the workload of these enterprises greatly by making it easy to manage fixed assets.
The Fixed Asset Management module provides many readily available reports to meet official or administrative needs. The reports listing the depreciation amounts can be taken with “Actualized”, “Planned” or “All” options. In this way, the expense amounts or expected expenses can be analyzed. Reports can be generated in PDF or Excel files, with rich query parameters, various status settings, and detailed analysis.
Some examples of reports that can be taken with many different options:
• List of Fixed Assets with details
• Development of Fixed Assets (Becoming an active asset, discounts, expenses, revaluations, depreciation etc. History of the asset)
• Periodic developments report on fixed assets
• Fixed assets depreciation amounts
• Fixed assets revaluation amounts
• Fixed Asset specials lists
The Fixed Asset Management module is tightly integrated with Financial Accounting, Cost Centers Accounting, Human Resources Management, Purchase Management, and Invoice Verification modules.
• Multiple Accounting Standard (Multiple Books) support (Different depreciation methods for each fixed asset, defining times and accounting integration)
• Creating monthly, quarterly or daily basis depreciation plans and accounting
• “Straight-line”, “Double Declining” or “Units of Production” depreciation methods support.
• Automatic determination and purchasing of fixed assets, discounts, and expenses from accounting records, batch processing.
• Calculating customized or exceptional depreciation
• Pro rata depreciation, delayed pro rata depreciation, book value and cost management after economic life.
• Saving depreciation expenses to a different cost center or cost objects according to the given rates
• Ability to create full or multiple partial sales, scrapping and related accounting records
• Revaluation support
• Ability to change the depreciation method automatically and collectively depending on the implementation. (Starting with decreasing and moving to the linear method when conditions are appropriate)
• Monitoring of pre-activation expenses (Investment phase management)
• Identification of five different depreciation methods and options for each fixed asset
• Accounting as a non-operating part expense
• Fixed asset purchase invoice, vendor, insurance, incentive information tracking
• Verification of fixed assets (Physical counting, location / assigned person and updating of the status)