The system tracks assets for multiple funds, departments and locations. It handles, but is not limited to improvements, fixed and personal property. The system has on-line inquiry for each asset with the ability to lookup assets based on fund, department, type of asset and/or asset id number. This inquiry includes all basic asset information, as well as, historical depreciation figures. The system tracks assets by a city tag number, and/or original serial number.
The depreciation process allows the city to run preliminary versions of the depreciation calculation report, calculate depreciation for a single asset, calculate depreciation for a range of assets, funds and/or range of departments and print depreciation calculation report in department or type of asset sequence.
Reporting is extremely flexible, allowing for a wide variety of master file reports. For example, report on only newly acquired assets during a period, report only on assets disposed of during a period, including: departmental and fund totals for posting to the General Ledger or provide Departmental, Type of Asset and Fund Level Sub-Totals. Standard reports exist to assist in a physical check of all assets. Additional standard reports exist which provide detail data regarding each asset. The system has the ability to generate asset tags.
The system provides many methods of depreciation, including, but not limited to Straight Line, Declining Balance, Double Declining Balance and Modified Accelerated Cost Recovery. The Fixed Asset system interfaces with General Ledger and the Integrated Document Imaging system.
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