Introduction

The Fixed Assets module provides a complete fixed asset ledger. It is used for acquisitions, disposals and depreciations.

What does it do?

It provides complete support for multiple Fixed Assets companies and transactions from various Fixed Asset modules can be posted to a variety of nominated General Ledger accounts.

Nominated Assets, Group Assets, Locations and Depreciation may be consolidated. These assets may optionally be integrated to Project Costing for structured control of fixed assets and plant.

Depreciation methods are selectable from Book and tax as well as usage. These depreciation methods can be defined differently for each company. They include diminishing or straight line by nominated percentage on book or tax value or both or by client defined usage criteria including kilometres, hours, quantity etc. Moreover, revaluation may be performed by user defined indexations.

Sub-asset components of main assets can be maintained. All actions on sub-assets automatically update the main asset in respect of additions, disposals, transfers, revaluation and depreciation.

User defined financial items are used as sub transactions of sale, purchase, expense or income from fixed assets and plant. A complete history of asset and plant activity by period of activity is maintained.

Plant can be hired both internally and externally and charged for at multiple rates. The Century module also caters for on hire, off hire, broken down, internal and external hire. Entered movements automatically raise cross charging within the project costing system.

The Century Asset module also provides user defined facilities to project and forecast by nominated forward periods and years value of assets or group of assets based upon taxation or book value depreciation, providing forward projections of net asset and depreciation costs. Stocktake facilities with portable bar-code reader are also offered.

In common with all the other Century Modules, an extensive set of audit and reporting facilities exists giving an almost limitless set of summarised and detailed reports.

How it is used?

The Century Assets module can be used on its own or integrated with one or more of the other Century Financial Modules. These include Purchase Orders, General Ledger, Accounts Payable, Accounts Receivable and Project Costing.