Fixed Asset Management
Create accurate financial reports, maximize tax benefits, and meet compliance requirements.
How Fixed Asset Management can work for you
Maintain complete visibility of fixed assets and depreciation calculations. Add fixed assets directly from AP purchases, import from a file, or add individually. Select from a large inventory of pre-defined depreciation schedules or create custom schedules for accurate accounting and reporting. Track tax and reporting scenarios independent of general ledger postings.
Key benefits of Fixed Asset Management for your business
Multiple Depreciation Methods
Choose from a large inventory of predefined depreciation schedules or create your own. Accommodate accelerated cost recovery system (ACRS), modified ACRS, straight-line, declining-balance, sum of years’ digits, remaining value, flat rate, and other methods. Each depreciation method can include different averaging conventions as well as useful life and recovery periods.
Purchase Order Integration
Easily convert purchases into fixed assets without re-entering data. Eligible purchases are automatically displayed to simplify the conversion process.
Tax Benefit Support
Take advantage of multiple depreciation books, multiple calendars, special depreciation bonuses, and tax benefit recapture capabilities to accurately comply with complex tax rules.
Additional features of Fixed Asset Management
Multiple Depreciation Books
Create multiple depreciation books tax and reporting purposes that do not update the general ledger. Assign tax and reporting fiscal years that are independent of your actual financial ledger.