iSeries Fixed Assets
Global's iSeries™ Fixed Assets is a comprehensive, easy-to-use fixed asset accounting software system for complete asset accounting and asset management.
Fixed Assets maintains extensive fixed asset data (for depreciable and non-depreciable assets), providing the user with a single source of reference for control, analysis and management of all fixed assets from capitalization to retirement. Fixed Assets provides substantial flexibility, accommodating the depreciation policies and accounting methods used by most companies, while ensuring compliance with tax laws and GAAP.
This application increases productivity and reduces cost by saving time and giving management timely and accurate information, resulting in well informed decisions and budget planning.
- Display or report depreciation for any period of the fiscal year at any time
- Short fiscal year calculations are supported according to IRS regulations
- Accommodates 52—53 week year including 13 accounting periods and unequal accounting periods
- Menu/option, database and field level security
- Print user authority for menus, options and database security for Sarbanes-Oxley controls
- Data validated online against tax laws & user defined tables
- Reporting that provides required depreciation information for use in preparing Federal Tax forms: 4562, 4626, and 4797
- Account validation and journal entry creation for monthly asset activity and depreciation
- Access to assets with 15 pre-defined asset inquiry options or user defined inquiries
- Specialized modules available (including multicurrency, inflation adjustment, data transfer, and import modules for additions, disposals, transfers and changes)
- Multi-currency, inflation adjustment and data transfer for specialized modules available
In the Fixed Assets system, asset defaults are initiated to facilitate the entry of similar assets including tax methods. On-line data validation with associated error messages and remedy options, as well as on-line Audit File Inquiry, which provides immediate verification at asset maintenance, are a few more features built-in to this application. Optional automatic asset numbering eliminates manual asset number assignment.
Depreciation data includes cost, life, method, depreciation convention, salvage value, etc. Depreciation amounts for acquisition and disposal year are spread over in-service months independent of calculations criteria, while depreciation projections are available for any and all future years for budget and regulatory requirement information. Fixed Assets supports a wide range of depreciation methods as required by federal and GAAP requirements. It also supports 52-53 week fiscal years, 4-4-5, and 13 period fiscal year with short fiscal year calculations supported. Fixed Assets is compliant with current tax code regulations.
- Analysis of Fixed Assets Additions
- Analysis of Fixed Assets Transfers
- Analysis of Gain/Loss on Disposals
- Analysis of Fixed Assets
- Depreciation Projections
- Fixed Asset Inventory Worksheet
- Appraisal Values by Insurance Code
- Asset Class Summary by In-Service Year
- IRS Worksheets
In the Fixed Assets application, asset inquiry is available by multiple selection fields. Audit file inquiry providing ‘before’ and ‘after’ asset maintenance information for Sarbanes-Oxley compliance reporting is another feature of this application.
Data File Transfer
The Fixed Assets Data Transfer module adds to the already extensive offering of reports found in the Fixed Assets application. Easily select fixed asset data based on user defined criteria and then either display the results, or download to a PC file.
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Fixed Assets maintains extensive fixed asset data (for depreciable and non-depreciable assets), providing the user with a single source of reference for control, analysis and management of all fixed assets from capitalization to retirement.
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Fixed Assets provides substantial flexibility, accommodating the depreciation policies and accounting methods used by most companies, while ensuring compliance with tax laws and GAAP.
iSeries Fixed Assets Technical Requirements
|Utilizing iSeries that is running on an IBM supported release of the operating system.|