Create accurate financial reports, maximize tax benefits, and meet compliance requirements.
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.
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, units of production, 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.
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.
Manage multiple property types including owned property, leases, rentals, and granted property. Track assets that are leased or rented to others.
Select different averaging methods including full period, mid-period, next period, modified half period, full quarter, full year, full day, and more.
Make mass changes to several fixed assets with one entry including depreciation schedule processing, releasing fixed asset transactions, converting purchases to fixed assets, and generating fixed asset calendars.
Create fixed asset classes to group assets and simplify entry of commonly used schedules.
Manage asset acquisitions, disposals, asset balances, asset net values, future projections, and depreciation transactions through built-in reports. Drill down to view transaction details.
Support calculations required under IRS Section 179 for reduced first year depreciable basis as well as reversals on early asset disposal.