IFAS: Fixed Assets
Fixed Assets is designed to help you monitor and report on all capitalized and non-capitalized fixed assets. Specifically, FAIS allows you to keep track of the asset and related asset information from the time of acquisition until it is purged from the Fixed Assets database. In addition to monitoring the asset, FAIS also performs a number of depreciation calculations and makes all required entries to the General Ledger. The major emphasis has been placed on the flexible and interactive retrieval of needed information from the Fixed Assets database.
Features
- Handles all asset information updates interactively.
- Maintains a chronology of the asset’s location by employee, room, building, or lot.
Access to information is straightforward and easy. Fixed Assets includes standard reports and immediate online inquiry to any data in IFAS. Security-protected reports can be run at the userís networked computer or on the Internet from any Web browser. Asset information extraction for reporting or from the interactive INQUIRY facility may specify the following selection criteria in a "mix and match" fashion:
- Asset IDs
- Location Codes
- Acquisition Dates
- Deletion Dates
- Obsolescence Dated
- Sale Dates
- Book Value
- Market Value
- Purchase Price
- Depreciation Code
- Responsible Person IDs
- PO Number
- Client-Assigned Codes
- Maintenance Dates
- Insurance Codes
- Project Codes
- Manufacturer’s Codes
- Warranty Dates
- License Renewal
- Installation Dates
- Utilize depreciation calculations including straight line, sum of the years’ digits, 150% and 200% declining balance. Depreciation may also be calculated by units of production or units expended.
- If desired, defer depreciation until the next full year for acquisitions in the present year to avoid partial year complexities.
- Define all entries to the General Ledger at the time of installation. Selectively post to the General Ledger or the assets database only if desired.
- Collect together special individual codes and descriptions to any asset, allowing you to have user-defined groupings of asset information. This powerful feature may be used to schedule maintenance, plan for replacement, or perform client-defined modeling instructions critical during the planning phase for budget purposes.
- Fixed Assets posts a fail-safe audit trail of all entries to the General Ledger.
Installation Dates
- Depreciation calculations include straight line, sum of the years' digits, 150% and 200% declining balance, and may also be calculated by units of production or units expended.
- The option to defer depreciation until the next full year is available for acquisitions in the present year to avoid partial year complexities.
- All entries to the General Ledger are defined by the client at the time of installation. Client may selectively post to the General Ledger or the Assets database only.
- Special individual codes and descriptions to any asset can be collected together allowing the client to have user defined groupings of asset information. This powerful feature may be used to schedule maintenance, plan for replacement, or perform client-defined modeling instructions critical during the planning phase for budget purposes.
- Fail-safe audit trail of all entries posted to the General Ledger.
Barcoding
- Automate the data collection process in both the Fixed Asset and the Stores Inventory modules with the barcode scanning module.
- Increase speed and accuracy to improve productivity.
- Automate the initial data population process.
- Barcoding module assists in the conversion from a non-barcoded tagging process to a barcode-based tag and can assist in cyclical Fixed Asset inventories.