The key role of this module is to maintain company’s tangible, fixed and intangible assets, as well as inventory. Company’s fixed assets can be organized into classes, categories and locations. The Assets Software has also distribution capabilities, allocating the cost of depreciation by departments, projects and locations. Fixed assets can be depreciated by case using the following methods: linear, degreased or accelerated. Several standard methods of computing depreciation expense may be used, including fixed percentage, straight line, and declining balance methods.
Fixed assets as well as inventory are classified into classes and categories. Classifying the fixed assets into classes, where you can also define the accounts and the depreciation period, will help you configure the assets so as for the depreciation and the accounting notes to be automatically transfered in the Financial Accounting module. Categories help you to classify the assets and to sort and search faster.
