The module is based on a detailed fixed assets master that allows you to manage customized depreciations, as well as to store a large quantity of information.
Depreciation is calculated by an automatic procedure that updates values in all managed regimes as well as generating accounting entries according to the different methods.
If the Analysis and Controlling module is activated, it is possible to spread depreciation quotas among cost centers, jobs and product lines.
As each Country has its own depreciation management, the module could be localized for each Country supported.
More depreciation regimes
According to local law requirements, it is possible to manage three depreciation regimes that are both parallel but independent from each other.
For example in Italy the fiscal depreciation regime requires to distinguish values of tangible and intangible fixed assets, whereas the balance sheet depreciation regime is based on the real use of each fixed asset.
Tangible fixed assets, depreciation data
Fixed assets categories
Fixed assets are grouped into homogeneous categories in order to set standard depreciation criteria, that can still be customized on each fixed asset.
Tangible fixed assets category
Operations on fixed assets are posted using proper reasons, that can be customized by the user in order to meet with any company need.
Fixed assets entry reasons
A large number of ready filled in reasons are included in the module to be used for the posting of the most common fixed asset transactions.
Integration with Financial module
The Fixed Assets module is perfectly integrated with the Financials module.
Fixed assets entry linked to accounting entry
Proper parameters simplify the data posting, making it possible for example to enter new fixed assets while posting the received invoice in an accounting entry.
Accounting entries are generated by depreciation and disposal procedures too, using customizable settings.
A preview of depreciation quotas can be required at any time in the financial year.
Simulated fixed assets journal
Simulations may refer to a single fixed asset depreciation plan as well as to a preview of the fixed assets journal, in order to check quotas due at a certain date.
It is also possible to evaluate in advance the incidence of depreciation quotas on the final company balance, by using the automatic posting of forecast entries in order to get simulated balances.
The sale or scrapping of a fixed asset, even partially, is fully managed by the disposal procedure, that makes provisions to reverse fixed asset values, to calculate capital gains and losses, to generate accounting entries.
Fixed assets disposal
Fixed assets maintenance charges
The law requires correct monitoring of any kind of charges (maintenance, repairs, modernization...) and this can be posted to monitor the productivity of each fixed asset in the present financial year and its provision for the following tax years.
Thanks to the detailed information in the fixed assets and different categories, a specific report quickly calculates both the deductable amount and the surplus making the accountants job much easier.
The module is linked to a large number of reports that help the user to check fixed assets data, to simulate depreciation quotas, to calculate deductable amounts, to prepare the financial statement and to print the fixed assets journal.
Simulated fixed assets journal