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Create accurate financial reports, maximize tax benefits, and meet compliance requirements.
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AcumatiCares
Product
Fixed Asset Management Software
Automate Fixed Asset Accounting and Depreciation
Maintain complete visibility of fixed assets and automate depreciation calculations. Create assets individually, import them from a file, or convert eligible AP purchases without re-entering data. Use predefined or custom depreciation schedules and maintain separate depreciation books for financial, tax, and reporting purposes.
Key Benefits of Fixed Asset Management for your Company
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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.
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Purchase Order Integration
Convert eligible purchases directly into fixed assets without re-entering transaction details. Acumatica identifies qualifying purchases and simplifies asset creation while keeping acquisition information connected with the originating financial transaction.
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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.
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Support Fixed Assets Under Construction
Manage costs for fixed assets under construction (such as the construction of a new assembly line or retrofitting a vehicle for service)and transfer costs to a completed fixed asset account for depreciation.
Key Fixed Asset Management Software Features
Multiple Depreciation Books
Assign multiple depreciation books to fixed assets for financial, tax, and reporting purposes. Each book can use its own depreciation method and fiscal calendar, allowing businesses to maintain alternative depreciation scenarios without affecting General Ledger postings where appropriate.
Multiple Asset Types
Manage multiple property types including owned property, leases, rentals, and granted property. Track assets that are leased or rented to others.
Multiple Averaging Options
Select different averaging methods including full period, mid-period, next period, modified half period, full quarter, full year, full day, and more.
Fixed Asset Tools
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.
Fixed Asset Classes
Create fixed asset classes to group assets and simplify entry of commonly used schedules.
Fixed Asset Reporting
Manage asset acquisitions, disposals, asset balances, asset net values, future projections, and depreciation transactions through built-in reports. Drill down to view transaction details.
Fixed Assets Under Construction
Manage fixed assets under construction. These assets are not in service and do not appear on depreciation schedules. Costs are accumulated utilizing a dedicated fixed asset under construction asset account until complete when they are transferred to the fixed asset account. Examples include the construction of production assembly lines, HVAC systems with multiple components, or retrofitting service vehicles with special equipment.
Special Depreciation
Support for the U.S. IRS section 179 deductions for the initial year the asset is placed in service. Process reversals upon early asset disposal.
Synchronized Fixed Assets and GL Periods
Automatically synchronize periods in General Ledger and Fixed Assets when users modify GL periods on the Master Financial Calendar.
Fixed Assets Management Software – FAQ
What is Fixed Asset Management Software?
Fixed Asset Management helps businesses manage fixed assets throughout their lifecycle, from acquisition and depreciation through transfers, adjustments, and disposal. It keeps asset accounting connected with purchasing, General Ledger, and financial reporting in Acumatica Cloud ERP.
How does Acumatica Fixed Asset Management Software work?
Businesses can create assets manually, import them, or convert eligible purchases directly into fixed assets. Acumatica applies configured asset classes, depreciation methods, useful lives, and depreciation books to calculate and post depreciation while maintaining asset history and accounting details.
Who is Acumatica Fixed Asset Management Software designed for?
Fixed Asset Management is designed for growing businesses that need to track capital assets, automate depreciation, maintain multiple depreciation books, and keep fixed asset accounting connected with purchasing and financial management.
Can Acumatica manage fixed assets throughout their lifecycle?
Yes. Acumatica supports asset acquisition, additions, depreciation, transfers, splits, and disposal. This gives finance teams visibility into asset activity and accounting details throughout the life of each fixed asset.
What fixed asset reporting is available in Acumatica?
Acumatica provides reporting for asset acquisitions, disposals, balances, net values, depreciation activity, and future depreciation projections. Users can also drill down into transaction details to support reconciliation, financial analysis, and asset management.
What depreciation options does Acumatica support?
Acumatica supports multiple predefined and custom depreciation methods, multiple depreciation books, and configurable averaging conventions. Businesses can maintain different depreciation scenarios for financial, tax, and reporting purposes while keeping asset records centrally managed.
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