Fixed Assets and Depreciation provides management with the tools to keep track of a company's fixed assets and to calculate the depreciation costs for those assets.

Product Capabilities

• Provides the user the maximum tax benefits from depreciating assets
• Supports both book and tax depreciations
• Provides for entry and editing of asset acquisitions, changes, and retirements
• Calculates depreciation by 10 different methods, including Modified Accelerated Cost Recovery System (MACRS), and Alternate Depreciation System (ADS)
• Supports flexible handling of bonus depreciation and expensed amounts
• Handles tracking and maintenance of investment tax credit, and provides for automatic recapture on retirement
• Allows the user to separate assets from a previously grouped asset
• Supports multiple companies

Application Details

• Asset File maintains item number, division, location, general ledger number, tax depreciation method, capitalization, and estimated salvage value.
• The user has the capability to maintain the General Ledger Account File, and can add, change, or delete accounts.
• Allows interactive entry and editing of asset acquisitions. Asset and depreciation values can be entered manually or calculated automatically, using the capitalization ratio or depreciation percent method.
• All changes are automatically posted to a permanent asset change history file.
• Automatic Depreciation of each asset is maintained for both Book and Tax reporting.

Reports

• The Depreciation Method Change Report shows all items which have been switched to straight-line depreciation in a selected period.
• The Projected Depreciation Summary Report will project yearly depreciation for the life of an asset and for each of the nine different depreciation methods.
• The Assets and Depreciation Distribution to General Ledger Report shows all general ledger activity generated by periodic depreciation.
• The Fixed Asset Register shows the current status of all assets on file. The Asset Change History Report gives the full history of changes made to an asset item since it has been on file.
• Additional reports are available, as well as the capability to create and customize individual reports.

Security

• My ERP's Fixed Assets and Depreciation is fully integrated with the standard My ERP security application. User passwords will provide controlled access to the Fixed Assets and Depreciation module.

System Integration

• Fixed Assets and Depreciation is a stand-alone module and can be installed to offer on-line integration with the General Ledger module.