The Asset Management module allows you to account for using the fixed assets through their useful life, from their purchase or construction to sale or disposal. If the company has various types of fixed assets, you can enable and use Non-Current Asset Classes. You can easily set up depreciation process for each fixed asset to track how the costs decreases over its useful lives. You can use the following depreciation methods: Straight Line and Units of Production.
If you select the Enable Capital Improvements to Fixed Assets functional option, you will be enabled to register any costs incurred while improvements are made to specific fixed assets and to revise accordingly their useful lives and gross costs. For more information, see Overview of Fixed Asset Accounting.
Master Data
You can create master records of items purchased for usage as fixed assets, and for custom statuses of fixed assets.
Fixed Asset Documents
Using documents in this module, you can register new fixed assets, purchased or constructed, select the depreciation method and specify the depreciation parameters. With other documents, you can calculate the depreciation, change the depreciation parameters when it is needed, register the sales or write off the fixed assets.
Reports of Asset Management
Reports can provide you with necessary information on depreciation process, costs changes as the result of capital improvements made to fixed assets.