Fixed Assets: Appreciate your time, don't Depreciate it...

Maintaining a Fixed Assets Register can be a tedious task especially if the register is held externally to the main accounts system. This typically involves the following: building lists of assets, ensuring the asset is depreciated over the correct number of periods and with the correct depreciation method, ensuring all new assets are included and all disposed-of assets are excluded, tracking serial numbers and warranties and finally, posting a manual journal every period for the depreciation value.

The main problem with keeping a manual register is that all information might not be included and therefore mis-calculations can happen. This becomes particularly relevant at year-end when pressure arises from the demands of month end. The last thing you need is to be trawling through a manual register when there are plenty of other tasks to be done at the year-end.

The solution for this is to have a Fixed Assets Register that is fully integrated with your Sage 200 software. The Fixed asset Register sits on your menu with the other Sage 200 standard modules. It is fully and seamlessly integrated with the nominal, sales and purchase ledger and is suitable for organisations with a large volume of low value assets or a small quantity of high valued items or a mixture of both.

The Fixed Assets module comes with the following features:

• Caters for the most recognised Depreciation Methods: straight line, reducing balance and sum of the digits.
• Expected life of the asset.
• The ability to categorise assets to enable effective reporting.
• Automatic posting of depreciation to the nominal ledger on a periodic basis.
• It holds the original cost value, accumulated depreciation, period depreciation and net book value.
• Forecast depreciation over the life of the asset.
• Integrated with purchase ledger when assets are purchased. It is possible to post the assets purchase invoice and create the asset record at the same time.
• It is also possible to dispose of an asset and enter the sales ledger transaction all in the one transaction.
• Easy asset tracking. Maintenance, warranty, insurance and serial number details can be maintained on the asset record.
• Attach all relevant documentation to the asset.
• Enquire on the history of transactions on the asset.
• Attach the location of the asset and the person responsible.
• Flexible and complete reporting on asset transactions and details.
• Revalue and re-life existing assets.
• Import asset details from a spreadsheet to build your asset register.

Nowadays, where time is very valuable and at a premium, the Fixed Asset register will give the Finance team back some of that valuable time. It will also increase efficiency and accuracy. So, my question is why keep manual spreadsheets when there is a much better way of doing things? We call it joined up thinking...........

Why not join one of our webinars to find out more......

16th of November @ 9.30am
23rd of November @ 9.30am
30th of November @ 9.30am
5th of December @ 9.30am

The webinar should not take more than half an hour. To confirm your place, please email sales@advent.ie and let us know which date suits you. We hope you can join us.....