The system is fully integrated within a single Oracle database environment. The integration of eFinancials Fixed Assets with eFinancials General Ledger is achieved by utilising the optional Job/Project code of the Chart of Accounts for the identification of asset records. Thus, the system provides a unique asset number for each asset, which may contain up to eight alpha numeric characters and enables the entry of asset details either manually within eFinancials Fixed Assets itself, or, electronically through the Accounts Payable and Receivable modules automatically and immediately. The system eliminates the need to enter the same transaction more than once or even provide for an interface between the ledgers.
It is important to note that eFinancials Fixed Asset is much more than a simple asset register with depreciation. Capital expenditure projects, which create one or many assets can be monitored and controlled. The system also holds a wealth of detail about assets other than financial information. Insurance cover and valuations, investment grants received, usage and maintenance history, and much more can also be held. In addition (by utilising the PowerPad facility) you can add any amount of additional information and free text to the assets database.
Depreciation
eFinancials Fixed Assets is able to calculate depreciation based upon the following methods:
- Straight Line
- Declining Balance
- Usage Based
- Manual
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