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.
Depreciation
- Separates depreciation for book or tax purpose respectively.
- Runs depreciation for a range of assets for any number of periods.
- Depreciation calculation uses standard or user-defined formula.
- Depreciation can be reversed back to beginning period of the current year.
- Depreciation Projection facilitates the financial planning.
- Fully supports the US MACRS/ARCS rules and Canadian Tax Pooling.
Acquisition
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Acquires the WIP or normal asset.
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Integrates with PO to manage the asset acquisition process.
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Issues IC item to create WIP or normal asset.
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Acquisition entry books the transaction and defines the asset information.
- A/P invoice batch is automatically created from acquisition batch.
Adjustment
- Changes asset value or salvage value for book or tax purpose .
- Changes asset year depreciation. .
- Transfers assets between cost centers, and locations. .
- Changes 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 or IC receipt 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 and Components
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