|Depreciation - Low Value Assets Pool - Assets Management|
2 linear methods : prime cost (straight line) indexed (CPI index for inflation)
3 accelerated methods : diminishing (reducing balance) extended diminishing (same as above with compensation for months versus years) sum of digits (uses the formula 2 (n-i+1) / n(n+1) the asset is fully depreciated at the end of the asset's life you specify as opposed to the diminishing method which drags on.)
2 new methods for tax : prime cost life and diminishing life which are just variations of the above but with the effective life of the asset instead of a percentage (ie 5 years equates to 20%)
quota method to depreciate on plant usage or mileage
Two rates & depreciation methods for each asset, two sets of period dates for all reports. You don't have to tinker with your computer's clock to get the reports at the dates you want (past, present or future).
Post adjustments against an asset to cope with real life situations such as set written down values, depreciable limit on cars, private use, additions/depletions, valuations, write-offs, quotas and production.
CPI (Consumer Price Index) for indexed depreciation and insurance report.
Even though Ownership is independent of your general ledger it will notify you of any discrepancy where a journal entry is required.
Securities and leases can be stored and will appear in the relevant reports
You may substantiate these kind of decisions by producing several ASSET CARD reports with various options to show amounts claimed for depreciation in years to come for a given asset.
The quota method is unique to depreciate motor vehicles by mileage, plants by tons of ore processed, etc...
You may view at once several instances of the same report with different options Reports include INVENTORY, INSURANCE, ACQUISITIONS & DISPOSALS, BARCODES, DEPRECIATION SCHEDULE, LOW VALUE ASSETS POOL, QUERY ASSETS, QUERY ADJUSTMENTS, ASSET CARD, ASSET LOG.
Each asset belongs to both a department and a location. Two tier reports show sub totals for both.
Everything you need to know about your assets is stored in one place. Keep a log of service records, suppliers' details, warranty dates, insurance policies and even a colour photograph.
Earmark an asset for valuation, maintenance due, etc...