Fixed Assets Register
Objective
To maintain a detailed record of the company’s fixed assets by recording depreciation and current asset values, in addition to providing a facility to evaluate remaining usefulness by tracking expenditures incurred or income derived from assets.
The Value of SYSPRO Fixed Assets Register
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Maintains a register of all assets and their locations
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Tracks expenses incurred for any asset
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Calculates book and tax-based depreciation
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Tracks maintenance history for each asset
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Obtains estimates of the remaining useful "life" of any asset
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Gives reports on disposals, revaluations and/or acquisitions
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Provides detailed reporting and screen queries
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Allows a provision for initial and investment allowances
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Preview of reports to screen and e-mail capabilities
Matching SYSPRO to your business
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Allows for fixed or variable depreciation rates
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Automatically posts monthly provisions to the General Ledger
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Calculates book depreciation and tax allowances using either the straight line or reducing balance method
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Assigns assets to individual branches of the business, and/or user-defined groups & types
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Attaches sub-assets to other assets
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Groups assets for reporting purposes
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Defines variable rates for depreciation up to 14 years
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Records revenue and expense transactions for any asset quickly and easily
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Revalues assets
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Records and tracks maintenance or repair time against each asset
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Calculates profit or loss on the sale of any asset
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Calculates depreciation and tax allowances to-date when initially adding assets
Audit Trails and Reporting
- Complete audit trails include transaction journals, lists of additions and disposals, and General Ledger Distribution reports
- Has book and tax value schedules
- Creates asset movement reports
- Provides labor analysis reports (for maintenance work)
- Reports on revenue and costs
Integration
- Integrates with the General Ledger module for asset purchases and disposals as well as with monthly depreciation figures
- E-mail reports with the Office Automation module