Asset categories

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.
Assets
  • 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 Depreciation
  • 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