Fixed Asset Module
WHAT IT DOES FOR YOU
The Fixed Asset component tracks all assets acquired
by your organization. In a government or non-profit
organization this includes an inventory of many assets
not regularly tracked by for-profit organizations. For
governments concerned about GASB 34, this includes
assets with many components such as infrastructure
improvements. For non-profits this includes assets
paid for by grants but which need to be tracked for
internal purposes as well as FASB 117 reporting. In
both cases there are assets that are expensed for
accounting purposes but need to be tracked for
control and reporting purposes.
HOW IT WORKS
Assets are added to the system from three sources.
These include manual entry, entry through Accounts
Payable, and through the module import wizard. The
import wizard is typically used only during the set up
process when converting from another system. Once
the assets are in the system, depreciation can be run
monthly, quarterly or annually depending on the
agency's needs. AccuFund Fixed Assets is a
component based system, allowing the addition of
additional components to an asset over time, such as
required by infrastructure improvements, leasehold
improvements and technology systems. For budgeting
purposes, depreciation estimates can be run for
future periods.
OTHER FEATURES
The Fixed Asset component includes additional
features to allow each agency to customize the
system for their specific needs.
• Keep notes of actions taken such as repairs
or warranty expirations.
• Set up specific asset class/location
combinations to define the account distributions
to be used. This may include percent allocation of the asset account or depreciation expense for major
items funded through multiple sources.
• History tab and reports provide a complete history of
all actions for each asset.
• Include dated and categorized notes to track service
activity, warranty information.
• User-definable demographic fields to track items
such as warranty expiration dates, original funding
source, responsible supervisor and other items.
• Run a preliminary depreciation report to check all
entries prior to posting to the General Ledger.
COMPONENT INTEGRATION
The Fixed Asset component is integrated with:
• General Ledger - All entries are immediately
posted to the General Ledger for reporting
purposes.
• Accounts Payable - Assets may be directly
acquired through the Accounts Payable
component at the same time that the invoice is
being paid.
• Report/Forms Designer - All Fixed Asset
management reports may be modified through
the Designer. Giving users control of the format
as well as adding additional fields and text
specific to the organization.
COMPONENT AVAILABILITY
The Fixed Asset component is available integrated with
the AccuFund Accounting Suite, or it may be purchased
for stand-alone use with posting to other systems such as
Intuit FundWare and MIP products.
STANDARD TEMPLATES PROVIDED
Fixed Assets includes several user-definable templates
including:
• Fixed Asset Master List
• Fixed Asset History
• Depreciation Summary
