2.1 Fixed Assets Introduction

The Fixed Assets System records the company assets and calculates depreciation expenses. Depreciation transactions are posted to the General Ledger when the closing routines are performed for each accounting period. Features of the Fixed Assets System include:

fjpman20000000.gif A Fixed Asset File contains records of all assets of the company. These may be divided into any number of types for reporting purposes. This file contains for each asset, the asset description, purchase cost, accumulated depreciation, method of asset depreciation, and other information about the asset.

fjpman20000000.gif All methods of depreciation are supported including the ACRS and MACRS methods.

fjpman20000000.gif Asset depreciation expenses are posted to the General Ledger for each accounting period.

fjpman20000000.gif The asset depreciation method may be changed to take advantage of different depreciation calculations.

The Fixed Assets System features can be accessed from the Select, Data Entry, Reports and Maintenance sections off the main accounting system menu. The following list outlines the Fixed Assets System features and how they can be chosen from the main menu:


Fixed Assets

Depreciation Limits

ACRS Tables

Fixed Assets

Asset Master

Data Entry

Fixed Assets

Depreciation Transactions

Assets with Book Values ....(Print)

Asset Depreciation Report

Calculate Depreciation .....(Process)


Fixed Assets

Asset Master

Assets with Book Values

Asset Depreciation Report


Delete Old

Depreciation Records

The fixed assets documentation covers the following procedures:

fjpman20000000.gif The data entry of the Fixed Asset Master File.

fjpman20000000.gif Updating and deleting fixed asset records.

fjpman20000000.gif The data entry of IRS tables for ACRS and MACRS depreciation methods.

fjpman20000000.gif Calculating the depreciation expense.

fjpman20000000.gif Fixed asset acquisition using the Accounts Payable and Cash Disbursement System.