The Fixed Asset System (FAS) is an all-in-one solution for asset inventory control, automatic depreciation, general ledger integration, reporting, and effective management of fixed assets. Fixed assets generally represent a significant percentage of total assets, and FAS works to maximize their rate of return.

Inventory Control and Disaster Recovery

• Assets are identified and categorized using over one dozen codes and descriptions, which are stored for on-line inquiry and reporting.
• Non-depreciable assets, fully depreciated assets, and assets owned by employees or other organizations can be maintained. FAS also helps identify assets moved from one location to another, assets under warranty and assets needing repair.

Depreciation Ledgers

• FAS accommodates all types of depreciation methods and maintains as many depreciation schedules as required.
• Up to 20 separate schedules, or 'ledgers', can be set up on each asset for nearly any purpose, including calculations for book, tax, insurance and replacement bookkeeping.

Automatic Transactions

• Either once a month or once a year, FAS automatically calculates the amount of depreciation to be expensed for each asset and creates automatic general ledger entries to debit expense and credit accumulated depreciation.

Convenient Asset Maintenance

• Default depreciation ledgers and general ledger integration account numbers are automatically assigned to new assets, based upon an asset's Class Code and the specifications.
• "Quick" and "Replace" screens simplify maintenance procedures.

Default Information

• A default feature helps standardize the depreciation methods and integration accounts used for each class of assets. Defaults eliminate the extra manual entries to establish ledgers on a new asset.

Reporting

• FAS generates reports for reviewing assets, asset depreciation, depreciation projections and automatic transactions, and for completing tax schedules.