Fixed Assets Construction Software
The Fixed Assets Module in FOUNDATION for Windows construction
software allows you to track the acquisition, depreciation and retirement
of fixed assets in accordance with current law and sound accounting
principles. It accommodates an unlimited number of depreciation
books and methods, allowing you to use different depreciation methods
for internal, tax and other purposes. Information is fully integrated
with the Equipment Module and the General Ledger.
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Fixed Assets Module:
 Download more information on our fixed assets construction software
Flexible Asset Setup
Assets may optionally be integrated with the Equipment Module in
FOUNDATION construction software to eliminate duplicate data entry
of equipment information. An unlimited number of books and depreciation
methods can be defined for each asset. Among some of the other attributes
that may be recorded for each asset are:
- Asset Code
- Asset Description
- Category
- Purchase Price and Date
- Salvage Value
- Insured Value
- Market Value
- Status (available, sold, missing, scrap or on-site)
- Sales Price and Date
- Manufacturer
- Distributor
- Serial Number
- Make/Model and Model Year
- Condition (New or Used)
- Property Tax Valuation
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Unlimited Depreciation Methods
The Fixed Assets Module supports GAAP and tax-recognized methods
of depreciation, including formulas such as straight line or double-declining
balance, percentages such as modified accelerated cost recovery
system (MACRS), fixed amounts and more. It also offers flexibility
in how depreciation should be calculated when an asset is purchased
and sold/disposed of.
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Calculation of Depreciation
Depreciation can be calculated automatically using your preferred
method. An unlimited number of different methods can be used
for each asset, allowing you to calculate and post depreciation
to your General Ledger using one method and calculate and
report it for tax purposes using another. The method can be
controlled on the asset or asset category, and it can be generated
on a monthly, quarterly, semi-annually or annual basis.
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Posting of Depreciation
Depreciation can optionally be generated and posted using user-defined
methods for each asset or posted manually through a simple "journal"
function. When automatically generating, controls prevent users
from posting using multiple books for an asset and from duplicating
previously posted amounts.
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Powerful Reporting
All reports are fully date-sensitive and status-sensitive, allowing
you to include only assets owned during the indicated dates. Reports
include a schedule of depreciation and a depreciation history report.
A separate function reports personal property tax valuation using
the kind of tabular data used by state or local taxing authorities.
Reports regarding market and insured values are also available.
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