Fixed Assets

The Fixed Assets depreciation system allows you to maintain as many depreciation schedules as needed for each asset. You can maintain schedules for financial reporting, Federal tax, Federal alternative minimum tax, state tax and more. As with all of Datafaction's products, the Fixed Assets Depreciation system is completely integrated to the General Ledger. It interfaces with the General Ledger system, so that the depreciation expense and accumulated depreciation is automatically booked every month, quarter or year, at your option.

The Fixed Assets system may be configured with ease to operate in a multi-company, multi-user environment. You have the flexibility to treat each client differently in terms of number of depreciation manners used, frequency of calculation and integration with the General Ledger.

The Fixed Assets System will help you to:

• Keep complete and accurate depreciation records.
• Ensure that your fixed asset accounts, and related depreciation accounts in the general ledger agree exactly with your depreciation records
• Keep full and complete separate depreciation records, when appropriate, for financial reporting purposes, Federal Tax reporting and State Tax reporting.
• Stand-alone or integrated to the General Ledger, for maximum flexibility.
• Periodic updates to comply with current Federal tax laws and regulations.
• An unlimited number of assets, with an unlimited number of sub-totals, ensures that you can always tie into control totals, whether in the general ledger or on tax returns.
• Different frequency of calculation with different manners allows you, for example, to calculate book depreciation monthly for up-to-date monthly financial statements, but calculate Federal and State tax depreciation only quarterly or annually, as needed.