Fixed Assets - Features

General Features

The Fixed Assets System incorporates the same general features found in other products for managing records and navigating between options and pages:

• Provides a single integrated database to ensure the integrity of your records.
• Utilizes a comprehensive security system that restricts access to specified menu options on a user-by-user basis.
• Access options using folders, favorites, and keyboard shortcuts, depending on your preference.
• Keep multiple windows open while entering and maintaining records.
• Provides drop-down lists and help windows for table verified fields, enabling you to look up and select records during data entry.
• Utilizes calendar pages for selecting and entering dates.

Fixed Assets Features

The Fixed Assets System includes, but is not limited to, the following features:

• Files asset records under unique ID and improvement code combinations.

• Maintains comprehensive information on each asset, including:

  • Description

  • Department
  • Location
  • Status
  • Date Acquired
  • Vendor
  • Manufacturer and Model
  • Serial Number
  • Purchase Order
  • Check Number
  • Initial Cost
  • Salvage, Book, and Insurance Values
  • Fund Source
  • Estimated and Depreciation Life
  • Depreciation Method and Basis
  • Inventory and Disposal Dates
  • Condition
  • Insurance Value and Sale Amount
• Customize your system with user-defined fields and pages, enabling you to include additional information with each record.
• Add improvements to existing assets.
• Interfaces with the Purchasing System, ensuring that all purchases processed through Purchasing and identified as fixed assets are automatically recorded in the Fixed Assets System.
• Provides options for posting depreciation to the Fund Accounting System.
• Projects depreciation up to a full year in advance.
• Calculates and posts depreciation retroactively.
• Verifies that all depreciable assets have been depreciated in a given year before beginning depreciation for a new year.
• Generates a comprehensive range of reports, including reports consistent with Comprehensive Annual Financial Reports (CAFR) requirements.
• Complies with the Governmental Accounting Standards Board (GASB) Statement 34, which requires that the costs of fixed assets, including infrastructure, be depreciated over the life of the assets.
• Provides options for retiring assets and purging outdated records.
• Maintains an audit trail history of all additions, changes, and deletions to your asset records.
• Attach spreadsheets, reports, photographs, and other documents to your asset records.