This addon from the Asset Management module enables you to account for using the fixed assets through their useful life, from their purchase or construction to sale or disposal. You can easily set up depreciation process for each fixed asset to track how its cost decreases over its useful lives. You can use the following depreciation methods: Straight Line or Units of Production.
If you select the Enable Capital Improvements to Fixed Assets functional option, you will be enabled to register any costs incurred in the process of improvements being made to specific fixed assets and then 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 for items purchased for usage as fixed assets, for fixed assets, and for custom statuses of fixed assets.
Fixed Asset Documents
Using documents in this module, you can register new fixed assets based on purchased items, select for them depreciation methods, 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. In case of capital improvements made to specific fixed assets, you can calculate their new costs, revise their depreciation parameters, and estimate the cost of replaced parts (extracted items).
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.
Next: Production