InterAcct Software for Fixed Assets

Fixed Assets Software Highlights:

InterAcct is a full integrated business and accounting software system. Fixed Asset Register is offered as a standard software module and is therefore part of the system’s integration.

Assets can be classified many different ways (for later search and reporting). See screen below.

The fixed asset system allows you to create a database of assets currently in use (plus past disposals), and also calculates the depreciation entries which are automatically posted to the General Ledger.

The fixed asset system also allows you to schedule maintenance, hold details on warranties, and any insurance policy.

Asset disposals are recorded via the General Ledger sundry Cash Receipts – and automatically adjust asset and depreciation values, plus any capital gain/loss.

The focus is on speed of data input, accuracy, and simplicity.

A comprehensive database on your assets used to calculate and post depreciation, plus manage them properly by recording details on servicing and insurance.

You can schedule maintenance on assets, and view service history jobs and costs.

The Asset Register allows you to classify asset according to their Type, Make, Model, and Serial Number.

Insurance details are recorded, along with when the insurance cover expires.

The current “User” of the asset can be linked along with the Division and/or Department. The physical location can also be recorded.

Free format comments can be recorded in a Notes file for each asset. You can record the Asset’s options that are attached to it

The current status of the Asset shows whether it is in current use, in repair, or disposed of.

Extensive search, list and print facilities are provided on both the main Asset Register file, and the various enquiry files.

Initially, you can enter your Opening Balances for your purchase value and depreciation. These totals can be reconciled back to your Opening General Ledger journal entry.

Search analysis is available by Type, Make, and Model of asset, and also by Employee.

Both book and tax rates of depreciation can be used to automatically calculate and post depreciation (to the General Ledger expense and provision accounts).

Assets can be re-valued at any time for both Market & Replacement values. This calculates the real depreciation, Inflation, and Sinking Fund requirements.

Details of where the asset was purchased, warranty details, and servicing arrangements can all be recorded.
A menu link is available back to the Purchase Order and Supplier’s invoice. There is a search enquiry on the Warranty Expiry date.

A full transaction audit trail is maintained to show all purchases, adjustments, disposals, plus the monthly depreciation postings.

Financing details can also be recorded, with another search enquiry on when the finance agreement is due to expire.

Asset disposals are linked to the Cash Receipts transaction file. It will calculate depreciation recovered and any resultant capital gain/loss.

There is a standard Asset Register and Depreciation report available that can be run as at any date.

The system’s standard files, fields, menus and reports can all be personalised to suit individual requirements.