Fixed Assets
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Key Features

bulletDepreciation methods include straight line, sum-of-years digits declining balance, ACRS, Federal declining balance and no depreciation

Today, keeping track of a company’s fixed assets is a major bookkeeping task, especially in light of all the various depreciation methods that might be applicable and the fact that they may be transferred back and forth between locations. Also, state and federal depreciation laws tend to be different and in many cases, both of these methods differ from the desired internal methods of asset depreciation. The CDS Fixed Asset Package is designed to simplify asset accounting by accurately calculating depreciation by any one of multiple possible methods, providing up to three sets of depreciation books (state, federal, and internal), providing accurate detailed and summarized reports for easy reference and providing an optional automatic update to General Ledger.

Main Package Features:

Depreciation methods include straight line, sum-of-years digits, declining balance (1.25, 1.50, 1.75 and 2.00), user defined percentage, ACRS, Federal Declining Balance, and ‘no depreciation’

Up to three different depreciation books (state, federal and internal) for each asset

Keeps track of ITC and first year bonus depreciation

Declining balance automatically converts to straight line at the optimum time

Non-depreciation assets may be included for tracking purposes

Depreciation may be calculated monthly and may be run for any period from 1 to 12 months

Assets may be transferred between locations

Optional automatic interface with CDS General Ledger Package

Asset tracking by location and classification

Reports:

Asset Master File Listing

Current Depreciation Report

Annual Depreciation Report

Asset Acquisitions Report

Depreciation Forecast for the current and next fiscal periods

Asset Transactions Report (Acquisitions, Dispositions, and Transfers)

General Ledger Account Distribution Reports (for Asset Transactions and Depreciation Calculations)