Define depreciation categories based on the following methods:
- Straight line life
- Reducing balance life
- Define general ledger categories, assigning account codes for the different transactions.
- Record information for each asset, including transfer date, capital costs, depreciation method, written down value, general ledger category, insurance value and serial number.
- Assign analysis codes for each asset.
maintain the asset register
- Add new or partially depreciated assets to your Asset Register.
- Associate attachments (add-on assets) with each asset, to ensure that they all depreciate by the same method and to the same end date.
- Keep a detailed history of activities affecting the value of each asset, including addition, depreciation, adjustments and disposal.
- Calculate and record depreciation, based on the rules defined for each asset.
- Store depreciation figures for the current depreciation period, the year-to-date and the cumulative life of the asset.
- Experiment by using different depreciation rates, without affecting the actual values stored for each asset.
- Forecast depreciation.
standard reports available include:
- Asset Register Details
- Additions Audit Trail
- Adjustments Audit Trail
- Disposals Audit Trail
- Depreciation Details
- Depreciation History
- Depreciation Forecast
- General Ledger Distribution Analysis
- Fully Depreciated Assets Details
- Insurance Valuation Report