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.
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Acquisition

• Acquires the WIP or normal asset.
• Integrates with PO to manage the asset acquisition process.
• Issues IC item to create WIP or normal asset.
  
• Acquisition entry books the transaction and defines the asset information.
  
• A/P invoice batch is automatically created from acquisition batch.
  

Depreciation

• Separates depreciation for book or tax purpose respectively.
• Runs depreciation for a range of assets for any number of periods.
  
• Depreciation calculation uses standard or user-defined formula.
  
• Depreciation can be reversed back to beginning period of the current year.
  
• Depreciation Projection facilitates the financial planning.
  
• Fully supports the US MACRS/ARCS rules and Canadian Tax Pooling.
  

Adjustment

• Changes asset value or salvage value for book or tax purpose .
  
• Changes asset year depreciation. .
  
• Transfers assets between cost centers, and locations. .
  
• Changes 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 or IC receipt 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 and Components