Fixed Assets Management System
Provides Tracking Of Agency Assets According To OMB Regulations...With Automatic Separation Of Agency & Funding Source Assets
Get Complete Management & Quick Review Of A Virtually Unlimited Inventory Of Fixed Assets -- Plus The Ability To Automatically Depreciate Individual Assets (Or Not) Based On Requirements.
Full Tracking & Management Of All Agency Fixed Assets
The RCMS Fixed Assets Management System is fully designed to help government and transit/ transportation related agencies easily track and manage virtually any size inventory of fixed assets. Items can be tracked within the system even though they belong to a funding source. (The system provides for automatic separation of agency and funding source assets.)
Depreciation is automatically calculated and can be posted to the RCMS General Ledger. The system gives you the ability to handle assets in accordance with OMB regulations. Individual items may -- or may not -- be depreciated based on specific requirements.
The Fixed Assets Management System is fully interfaced with the General Ledger and RCMS Project Cost Management System. The General Ledger interface provides for month end closings in the Fixed Assets Management System -- along with posting of depreciation and accumulated depreciation information to General Ledger. Month end closing can also pass depreciation expense information to Project Cost Management System. (Each fixed asset can be tied to different projects. Or fixed assets can be tied to one "pool" by setting up a project in Project Cost Management System to collect all of the depreciation expense of all fixed assets.)
Quick Set Up, Plus Total Asset Information & Reporting
The Fixed Assets Management System makes it easy to maintain a wealth of information about each fixed asset item. For example, in getting started, the system provides for quick set up of eight "lookup" tables: type of fixed asset...property location...depreciation method used...asset unit of measure or usage...market value method used...asset General Ledger account number...accumulated depreciation (General Ledger contra) accounts...and depreciation expense General Ledger accounts.
Designed To Help You Track & Manage Almost Any Size Inventory
When entering each fixed asset into the system, you can also include the following additional information: Fixed asset ID; Fixed asset description; Serial #; Acquisition date; Acquisition cost; Vendor ID; Grant ID; Program ID; Funding source; Name of organization holding title to asset; Name of responsible department; Name of responsible individual; Physical condition of asset; Use of asset; Last update to asset's master file; Estimated asset life; Salvage value; Project name/ID that represents the pool of all costs associated with asset; Phase code ID set up in project pool for asset depreciation expense; Cost code/ID set up in project pool for asset depreciation expense; Federal participation %; Periods depreciated to date in first setting up asset; Accumulated depreciation to date when first setting up asset; and Book value.
Upon entering a disposition of a sold/ disposed asset into the system, the date of disposition and amount received are automatically updated.
Naturally, the Fixed Assets Management System offers a variety of reports which allow you to more effectively manage your fixed asset inventory -- as well as provide critical information on fixed assets to your funding agencies.
Easily Keep Funding Sources Appraised Of Fixed Assets Paid By Their Dollars
For example, to give one of your funding agencies a listing of all the assets they paid for, you simply print a fixed asset report in Funding Source order, requesting just that particular agency. All system reports show Fixed Asset #, Serial #, Acquisition Date, Acquisition Cost, Accumulated Depreciation and Book Value. Reports can be sorted, respectively, in order of: Fixed asset ID; Acquisition date; Property location; Responsible person; Fixed asset type; Department; Funding source; or Title of asset.
As part of the Regional Council Management System family of software for your industry, the Fixed Assets Management System offers many capabilities to help you more effectively track and manage all your major assets. Large asset items can easily be tracked using the system.
Plus, a variety of reports help you keep funding agencies appraised of fixed asset inventory paid by their dollars.
The system is designed to maintain a great deal of valuable information on each individual asset within your organization.
Now, everything from month end closings to funding source reporting to asset dispositions to reviewing the status/condition of every asset, plus more, can be quickly accomplished using the Fixed Assets Management System.
A Wealth Of Asset Management Capabilities Just For You
- Quick reporting & information on virtually unlimited number of agency fixed assets
- Provides for automatic separation of agency assets from funding source assets
- Depreciation is automatically calculated & can be posted to RCMS General Ledger
- Comprehensive tracking & handling of fixed assets in accordance with OMB regulations
- Complete reporting capabilities for both internal management & funding source review
- Fast, easy fixed asset inventory set up, month end closings & disposition of assets