Tracking fixed assets is an important in construction accounting, particularly where heavy equipment is concerned, so it should be an important piece of your construction accounting software too. Our Fixed Assets Module gives you a fully integrated solution that tracks the acquisition, depreciation and retirement of fixed assets, using sound accounting principles.
The Fixed Assets Module makes it easy to enter new assets into your accounting system. Each asset can use an unlimited number of depreciation types and methods. They can also be tracked conveniently for purchase price, salvage value, market value and much more.
Flexibility is an important characteristic for your fixed assets, and it should be important for your construction accounting software, too. That’s why FOUNDATION supports various depreciation methods.
From GAAP to tax-recognized depreciation methods, from straight line to double declining balance to MACRS, Fixed Assets does it all. You can even choose how depreciation should be calculated when an asset is purchased, scrapped or sold.
Reports are FOUNDATION’s specialty, and the reports in our Fixed Assets Module are no different. Take advantage of the Schedule of Depreciation Report, the Depreciation History Reports and even a report designed just for insurance valuations. You can even see personal property tax valuations with the kind of tabular data used by state and local authorities.