Fixed Asset

Fixed Assets

Fixed Asset Management Overview
Norming Asset Management is a powerful and complete asset management solution. The core module, Asset Accounting , can be used to process all the asset accounting transactions, including acquisition, depreciation, adjustment, disposal, merge and split. The additional functionality module, Asset Maintenance and Asset Leasing can be used to facilitate the asset maintenance and lease management.

The complete Asset Tracking facility is also available.

Highlights

  • Seamless integration with ACCPAC Advantage Series GL, AP, AR, PO
  • Support Pervasive SQL, MS SQL Server, Oracle and IBM DB2.
  • Flexible asset numbering.
  • Comprehensive asset transaction processing.
  • Asset depreciation for book & tax purpose respectively
  • Powerful depreciation facility.
  • Full multicurrency support.
  • Full support over the US MACRS depreciation rule.
  • Asset maintenance scheduling and expense processing.
  • Asset lease tracking and billing processing.
  • Complete bar-code tracking facility.
  • Image can be attached to location and asset register.
  • Extensive inquiries and reporting.

Integrated Solution

Norming Asset Management is developed in the latest ACCPAC Advantage Series Software Development Kit, has the same look, feel, level of integration as the ACCPAC Advantage Series core module.

  • Use the fiscal calendar and currency of Common Service module.
  • Asset transactions generate General Ledger batches automatically.
  • Integration with PO streamline the asset requisition, acquisition and invoicing process.
  • AP invoice can be created from asset acquisition batch automatically.
  • AR invoice can be created from the asset disposal batch automatically.
  • AP invoice can be created from asset maintenance batch automatically.
  • AR invoice can be created from asset lease billing entry automatically.
  • Drill down from G/L,A/P and A/R to originating asset transaction.

Multicurrency

  • Acquire assets in the currency that vendor would use.
  • Calculate unrealized gains and losses for active asset as exchange rates fluctuate.
  • Adjust asset value in source or functional currency.
  • Disposal proceeds in source or functional currency.
  • Asset maintenance expense can be processed in source or functional currency.
  • Asset lease billing entry can be booked in source or functional currency.

Flexible Asset Numbering

  • Asset ID can consists of up to 72 characters, with maximum 9 segments.
  • Each segment can use the segment code that is respectively defined in category, cost center, location, and group.
  • Auto numbering facility is also available.

Comprehensive Setup Option

  • Options
  • Accounts Sets
  • Categories
  • Cost Center
  • Locations
  • Groups
  • Depreciation Periods
  • Depreciation Methods
  • Acquisition Codes
  • Classifications
  • Budgets
  • Templates
  • Maintenance Types

Extensive Inquiries and Reporting Capability.

  • Search asset by category, group, cost center, location. .
  • Review complete asset activities history and the original transaction entry.
  • Check component assets of master asset. .
  • Maintain serial no. and bar-coding for each unit of asset. .
  • Print standard or customized label for each unit of asset. .
  • Print asset list, asset history and depreciation report for audit or reconciliation with G/L.

Asset Accounting

The Asset Accounting module provides the basic functionality for processing asset accounting transaction, including acquisition, depreciation, adjustment and disposal. Asset merge and split are also available in this module.

Acquisition

  • Acquisition can work with PO to manage the asset acquisition process.
  • Acquisition Entry book the transaction and define the asset information.
  • A/P invoice batch is automatically created from acquisition batch.

Depreciation

  • Separate depreciation for book or tax purpose respectively.
  • Depreciation calculation use standard or user-defined formula.
  • Batch-driven depreciation allows the preview of the transaction prior to posting.
  • Depreciation periods switch on/off the asset depreciation.
  • Depreciation Projection facilitates the financial planning.
  • Full support the US MACRS/ARCS rules and Canadian Tax Pooling.

Adjustment

  • Change asset value or salvage value for book or tax purpose.
  • Change asset year depreciation. .
  • Transfer assets between cost centers, and locations.
  • Change asset life, depreciation method and rate for book or tax purpose.

Disposal

  • Asset is disposed at user-specified proceeds amount with user-defined proceeds account
  • AR invoice can be generated from asset disposal batch to handle the proceeds process.

Merge/Split

  • One asset is split to multiple assets.
  • Multiple assets are merged to one asset

Reports

  • Batch Listing.
  • GL Transaction
  • Provisional Revaluation
  • Accumulated Depreciation
  • Depreciation by Period
  • Depreciation Projection
  • US Depreciation Worksheet
  • Asset History
  • Capitalization Analysis
  • Asset Listing
  • Asset Schedule
  • PO Receipt Audit List
  • Master Assets Components

Asset Maintenance
 

  • Based on the Asset Accounting module, the Asset Maintenance module can be used to schedule and manage the asset maintenance activity, and to process maintenance expense with the ACCPAC Advantage Series Account Payable module.

Maintenance Type

  • Set up maintenance type to categorize the maintenance expense.
  • Specify maintenance expense account for maintenance type
  • Define cost class (parts, labor or miscellaneous) for maintenance type.

Maintenance Order

  • Specify maintenance vendor for each maintenance order.
  • Specify due date for each maintenance order.
  • Include multiple assets in a maintenance order.
  • Specify maintenance type for each asset.
  • Define maintenance budget for each asset.

Maintenance Expense Process

 

  • Book actual maintenance expense against maintenance order..
  • Posting maintenance batch creates AP invoice batch automatically.
  • Posting maintenance batch update the actual expenditure.
  • Posting maintenance batch update the asset maintenance history.

Reports

  • Maintenance Order.
  • Maintenance Batch Listing.
  • Maintenance GL Transaction.
  • Maintenance Order Action Detail.
  • Maintenance History
  • Asset Leasing

Based on the Asset Accounting module, the Asset Leasing module can be used to manage the asset leasing activity, and to process lease billing transaction with the ACCPAC Advantage Series Account Receivable module.

Lease Rate

 

  • Set up a variety of lease UOM for one asset, such as Year, Month, Week, Day, etc.
  • Define billing rate for specific lease UOM.

Lease Contract

  • Define customer for lease contract.
  • Specify due date for lease contract.
  • Include multiple assets in a lease contract..
  • Define lease quantity, UOM and billing rate for each asset.
  • Set up a billing schedule for each leased asset.
  • Define lease revenue account for each asset.
  • Specify lease due date for each asset.

Create Billing Batch

  • Specify the billing date.
  • Specify customer, contract and asset range.
  • Create billing batch automatically according to the billing schedule and the above criteria.

Lease Billing Entry

  • Book lease revenue against lease contract.
  • Posting lease billing batch creates AR invoice batch automatically.
  • Posting lease billing batch updates the billing schedule.
  • Posting lease billing batch updates the lease billing history.

Reports

  • Lease Contract.
  • Lease Billing Batch Listing.
  • Lease GL Transaction.
  • Lease Contract Action Detail.
  • Lease Billing History

Asset Tracking

  • Based on the Asset Accounting module, the Asset Tracking module works with a variety of barcode scanning device to keep track of your assets

Barcode Label

  • Maintain asset barcode information in asset register.
  • Print asset label with barcode printer.
  • Use asset label to identify asset unit.

Interface with Barcode Scanner

  • Download asset information to the barcode scanner.
  • Predefined barcode scanning program facilitate the asset tracking.
  • Upload the updated asset information from the barcode scanner.

Asset Audit Report

  • Upload the updated asset information from the barcode scanner.