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Accounts Receivable Accounts Payable General Ledger Fixed Assets
Complete Product Details
Summary

Profi’C Fixed Assets is designed to record and process the details of  your fixed assets, depreciation methods,  schedules and General Ledger Interface information. A customized File Maintenance function records the detailed information to apply to various fixed assets. Although there is no one standard criteria as to the minimum length of  life necessary for classification as a fixed asset, it should be capable of  repeated use and is ordinarily expected to last more than one year. However, Fixed Assets need not be in continuous or even frequent use. Standby equipment, for use in the event of a breakdown of  regular equipment or during peak periods, are still considered Fixed Assets.  A Fixed Assets Class Life feature enables assignment of  property classes for differing depreciation lengths.   ITC Options will help  specify a variety of  options to assign to your assets.   Assets are maintained  in a master file with  all the unique criteria  for each of  your fixed assets.

With the passage of time, all fixed assets, with the possible exception of  real estate, lose their capacity to yield service to your company. As a result, their costs should be transferred in a systematic manner to related expense accounts over their useful lifetime. This periodic cost transfer  - Depreciation is handled by Profi'C Fixed Assets. The Depreciation Review option provides you with all the information you need regarding your assets and their Depreciation History.  A Depreciation Update Selector offers several options regarding update of monthly depreciation information.  Trial Depreciation Report and Inquiry allows preview (before updating) a depreciation schedule in summary or detail form. The Update Monthly Depreciation function will update the depreciation for the schedule(s) you select.  A Monthly Depreciation Register  includes depreciation data for the month and a Disbursements Report.  In addition, a Disposition selector  provides you with the opportunity to dispose of a fixed asset.  Included and interfaced with General Ledger  is a Disposition Register which allows you to update Disposal Distributions to the General Ledger.

Interfaced with Profi'C General Ledger, Fixed Assets information will automatically  update to General Ledger rendering a total financial position.

Contents:

Key Features

  • Asset Master File
  • Asset Text File
  • Depreciation Tables
  • Class Life File
  • ITC Options
  • Disposition Entry
  • Depreciation Reports & Inquiries
  • Asset Master Listing
  • Asset Reporting by Value
  • Investment Tax Credits
  • Trial Depreciation Report & Inquiry
  • Yearly Update
  • Schedule Book File
  • Schedule File
  • Depreciation Methods
  • Type Master File
  • Disposition Types
  • Disposition Register
  • Historical Reporting
  • Schedule Book Report
  • Asset Reporting by Location
  • Monthly Depreciation Register
  • Quarterly Update
  • Asset Purge Report & Update

Sample Screen

 

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