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Fixed assets are tracked across cost centres, departments and locations. Depreciation is calculated on the basis of daily balance, with three concurrent depreciation methods being supported. Includes equipment commissioning, asset consolidation and partial transfers and disposals.

Features

• define fixed asset type code tables
• specify accounting, tax and alternate depreciation methods per type
• specify initial allowance and write off percentages per type
• define type groups
• define sites, departments and sub-departments

Asset Detail

• create and view linked or consolidated assets
• apply multiple invoice details to an individual asset record
• specify effectivity from
• detail replacement values
• detail and access by serial number
• track warranty
• link to insurance, lease and motor vehicle detail registers

Transactions

• acquisitions
• disposals
• transfer between locations
• revaluation change depreciation method for a group of assets
• change depreciation method for an individual asset
• capitalise work in process

Depreciation

• calculates and maintains accounting, tax and specified alternate depreciation methods concurrently
• calculates actual and budget depreciation
• calculates depreciation adjustments on disposal, revaluation and method change
• calculates on daily balance basis

Output

• drill down from individual asset through transaction detail over asset life
• view asset accounting, tax and alternate depreciation detail and totals
• summarised and detailed audit reports and schedules