AccuWare Fixed Assets module provides for the depreciation and maintenance of fixed assets. Asset data such as location, serial number, life, purchase and disposal price, as well as book value is held in the fixed asset master file.
Fixed asset management critically affects various aspects of financial planning, reporting, and control, but it is not easy because it comprises many discrete, complicated and time-bound tasks. AccuWare automates these tasks in a way that saves time and money without compromising with accuracy or control.
- Define fixed assets with complete record of fixed assets data
- Classify Assets into group of assets with identical depreciation rates and other account settings
- Associate each asset with cost-centers
- Simplified periodic depreciation, click of a button generates report for review and subsequent posting to G/L
- Full integration with G/L ensures accuracy and eliminates redundancy of data entry
- Record maintenance of fixed assets and reassign book values
- Dispose/write-off assets
- Generate Depreciation Reports using various criteria include category and cost-center
- Track Asset Issues and Receipts
The primary objective of a business entity is to make profit and increase the wealth of its owners and investors hence it is essential for accountants to accurately present the current monetary value of company assets to the owners of the business and potential investors.