RTS-Advantage Fixed Assets Module
Accounting for asset depreciation has never been easier than with the Advantage Fixed Assets module. Five of the most common depreciation methods and the 4 most common first–year conventions are available for calculating and tracking depreciation amounts. You can choose either automatic or manual computations and you can print your reports sorted by one of 16 different fields. With quick on–screen inquiries, you can track assets for tax and financial reporting. The module records asset locations, serial numbers and up to 12 asset types, 4 of which are user–defined.
- Uses any of 5 computational methods for calculating depreciation:
- Straightline
- ACRS
- MACRS
- Alternative ACRS
- Alternative MACRS
- Supports the common first year conventions: Mid-month, Mid–quarter, Half Year and Full Year
- You can use the automatic depreciation amounts or manually enter your own figures
- Assets can be entered at any point during their depreciation cycle
- Amortization program included to calculate both simple and compounded interest loans
- Records asset location and serial numbers
- 12 asset types are available:
- Business Equipment
- Office Furniture
- Data Processing Equipment
- Tools/Equipment
- Miscellaneous Equipment
Commercial Property
- Non–commercial Property
Luxury Vehicles
- 4 user-defined types
- Accommodates ITC/TEFRA adjustments, Section 179, Section 1245/1250 recapture amounts and Section 1231 gain amounts
- Provides quick on–screen inquiries of asset status
- Analyzes pre–purchase depreciation options
- Separate tracking of assets for tax and financial purposes
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