The Fixed Assets module provides contractors with a structured system for managing long‑term company assets such as buildings, land, machinery, and equipment. It centralizes asset valuations, depreciation schedules, tax information, and status details to ensure accurate tracking throughout an asset’s entire lifecycle. Users can record market, purchase, salvage, and insurance values, along with manufacturer details and other essential asset attributes. The module supports multiple depreciation methods, enabling detailed and customizable calculations for both GAAP and tax‑recognized purposes. It also generates comprehensive reports, including depreciation histories, market valuations, insurance values, and schedules posted directly to the general ledger.

Key Features

Asset Valuation & Tracking Provides detailed records for all long‑term assets.

• Track purchase, salvage, market, and insurance values
• Maintain manufacturer details and item conditions

Customizable Depreciation Methods Calculates depreciation using multiple method types.

• Supports fixed‑amount, formula, and percentage methods
• Allows depreciation from useful life or annual percent values

Tax Valuation & Compliance Support Handles property tax‑related calculations.

• Calculates personal property tax valuations
• Applies tax‑recognized depreciation methods

Integrated Depreciation Posting Connects depreciation activity directly to accounting data.

• Posts depreciation into the general ledger
• Keeps financial records aligned with asset changes

Comprehensive Asset & Depreciation Reporting Generates structured historical and current reports.

• Summaries by category, purchase date, and status
• Detailed depreciation histories and schedule views

Benefits

Improved Accuracy in Asset Accounting Ensures consistent and error‑free asset tracking.

• Avoids manual recordkeeping
• Reduces risk of missed or incorrect depreciation

Greater Financial Visibility Helps users understand the value and lifecycle of assets.

• Transparent valuation and depreciation records
• Clear insurance and tax‑related asset information

Efficient Depreciation Management Simplifies depreciation planning and execution.

• Offers automated and customizable depreciation setups
• Provides complete reporting for audits and financial reviews

Streamlined Integration with Accounting Keeps asset and financial data aligned.

• Direct general ledger updates
• Reduces duplication across accounting processes