Web Based Fixed Assets Software module and automated asset entry by LiveRoute

FIXED ASSETS MODULE

The Web-Based Fixed Assets module facilitates simple and automated asset entry, movement, maintenance, valuation, deprecation and retirement while maintaining strong internal controls to demonstrate policy, contractual or regulatory compliance.

FIXED ASSET BENEFITS

  • Manage assets more effectively for tax planning, resource management and internal control
  • Track assets more easily using standard and user-defined fields, asset categories or asset profile information
  • Implement preventative maintenance and lifetime accumulated costs to improve asset utilization
  • Manage physical asset information to retain tight control over assets throughout their life cycle
  • Simplify asset entry, adjustment, transfer and retirement processes with automated functionality and intuitive data entry pages
  • Gain complete asset life cycle audit trail visibility as the fixed asset module is integrated with the Purchase Order and Order Entry modules
  • Improve capital expenditure planning, budgeting, acquisition and reporting
  • Simplify insurance, licensing and regulation management by centrally managing all assets with their related information
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FIXED ASSET MANAGEMENT

The Fixed Asset register maintains a detailed record of the company’s fixed assets. Asset management includes asset categorization by asset type, asset class and asset account. Additional demographic detail includes location, valuation, custodian, serial number, G/ L account postings, depreciation settings, purchasing history, sales history and optional memo fields and user-defined fields. The web based Fixed Assets system provides control and improves fiscal management of business assets with convenient, flexible ways to calculate, track, and depreciate assets.
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DEPRECIATION PROCESSING

Flexible deprecation calculations provide an accurate financial picture by matching the cost of assets over the assets useful life. Partial Year Method calculations indicate how you want to record depreciation for assets that have only been in service for part of a year and affect the amount of depreciation for the asset in the first and last accounting periods. Partial year alternatives include Full Year, Half Year, Full Month, Half Month and Actual Days. User defined asset types and posting cycles (monthly, quarterly or annually) also provide flexibility by defining the intervals in which depreciation should be posted to the web based general ledger.
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KNOWLEDGE-BASE FOR ASSET POLICY SUPPORT

The Knowledge-Base and Content Management System (CMS) permit organizations to document their asset policies and link those policies to the actual fixed asset screens and operations so that the policies are available on-demand and consistently followed. Documenting company procedures ensures those policies are accurately, fully and consistency achieved. Typical company Fixed Asset related policies include the capitalization (vs. expense) policy, depreciation policy, preventative maintenance policy, insurance coverage policy and retirement policy.

OTHER FIXED ASSET CAPABILITIES

  • Procurement History:

    Each Fixed Asset can identify the procurement history, including Purchase Order number, purchase cost, purchase date, purchasing description, serial number, vendor and warranty information

  • Accounts Receivable Information:

    For assets which may be sold to or used on behalf of a customer, the Fixed Asset record identifies the customer, sale date, sale description, sale price, serial number and related asset identification information

  • Ease of use:

    Fixed asset inquiry is one-click quick and asset entry is simple and logically organized. Asset classes or account groups can save time by saving default values and making mass updates to many assets at the same time

  • Business Process Automation:

    User defined business workflow rules can initiate preventative maintenance for an asset, send an alert for a lapse in asset insurance coverage, schedule asset retirement or initiate other actions based on asset events or utilization

  • Demonstrate Compliance:

    Fixed asset procurement, assignment, depreciation, transfer and retirement audit trail and reporting provide visible and verifiable internal controls for policy, contractual or statutory compliance

  • Customizable:
    Fixed asset records and related asset pages can be customized is a visual drag-and-drop interface. Custom fields can be added, unused fields can be removed and the page layout and design can be arranged as desired
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PRODUCT CERTIFICATIONS

PARTNER ALLIANCE