Fixed Assets Software from Dexter + Chaney
Fixed Assets is designed to track assets and calculate depreciation amounts for financial reporting purposes. The Fixed Assets module greatly simplifies management of the depreciation of the company's fixed assets. Monthly depreciation amounts are automatically posted to the correct General Ledger Asset Account, and to the equipment control system, if desired.
Fixed Assets provides the following depreciation methods: ACRS (accelerated cost recovery system), straight-line, declining balance and sum-of-the-years digits.
Spectrum's Fixed Assets tracks other vital information about your assets as well. Look up of descriptions and serial numbers, date capitalized and even the asset's location are simple.
Fixed Assets determines a date for replacement, which maximizes the investment. Cost savings are then easily captured. Salvage amounts are calculated, even for fully depreciated assets.
Features
- Four depreciation methods available: ACRS (accelerated cost recovery system), straight-line, declining balance and sum-of-the-years digits.
- Automatically computes monthly depreciation accruals for financial reporting purposes.
- Maintains detailed information about each asset, including serial number, description, vendor, property type, date capitalized and asset location.
- Flexible override of depreciation amounts when necessary.
- Depreciation records may be summarized by department and General Ledger control number.
- Convenient on-screen display of depreciation to date for any asset. Pop-up windows allow convenient look up of general ledger accounts and other key fields.
- Asset and contra-account entry is fully supported.
- Concise Additions Register may be printed when assets are added.
- Easy to read edit listing available for review during depreciation processing.
- Flexible depreciable life and salvage value among depreciation methods.
- Sale information retained indefinitely for retired assets.
- Provides depreciation evaluation for future asset acquisitions.
- Tracks capitalized improvements to equipment, such as new engine.
- Integrated with General Ledger and Equipment Control, which reduces input time and ensures accuracy.
Reports
Depreciation Register
This report presents general information about each asset, as well as critical depreciation and valuation figures. A variety of sort options are available, including asset type and depreciation method used. The register furnishes records for various depreciation methods.
Depreciation Method Evaluation Report
This report provides a comparison between various depreciation methods for any fixed asset, either owned or to be purchased, to determine the most favorable method for the asset in question.
ACRS Table Listing
Prints the Accelerated Cost Recovery System (ACRS) tables authorized by the IRS. These tables come installed on your Spectrum Fixed Asset module, and are easily updated as IRS regulations change.
Depreciation History Report:
Details depreciation transactions for any specified date range stored on the system. The report can be sorted by date, general ledger account or asset number.
Other Fixed Asset Reports
Fixed Assets Additions Register
Fixed Assets Deletions Register
Depreciation Edit Listing
Depreciation GL Summary Report
Fixed Assets Listing
Department Code Listing
GL Control File Listing
Fixed Assets History Consolidation - Annual
For more information, contact us.