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FIXED ASSETS
You need to analyze the tax and cash-flow implications of assets
before you acquire them. Once you have them, you need to track
their valuation and depreciation. You can do that with OPEN
SYSTEMS® Accounting Software (OSAS) Fixed Assets application.
It will help you make wise decisions about when to buy, when to
lease, and how to manage your capital for maximum return. You'll
also have the full range of financial and management reports you
need to manage your investments and meet tax reporting
requirements.
Make sound management
decisions, meet government reporting requirements, and save
time.
Forecasting tools help you evaluate leases, amortize loans,
and experiment with depreciation strategies before you make a
capital commitment. You can keep an eye on your depreciation
options with four depreciation books that let you track four
sets of depreciation information. And, you can retire assets at
any time. Track the difference between estimated depreciable and
actual service life, and calculate the cost or proceeds from the
retirement of an asset.
You'll stay up to date with tax law changes. Fixed Assets
provide a set of IRS-supplied depreciation tables and supports
MACRS, ACRS, straight line, sum-of-the-year digits, and
declining balance recovery methods. Flexible tables help you
make changes easily to stay current with tax laws. You'll also
be able to satisfy government reporting requirements easily;
Fixed Assets puts the information at your fingertips.
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OSAS Fixed Assets Offers Choices
and Flexibility With These Key Features:
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You can calculate depreciation for a combination of
books. They include book, federal tax, alternative
minimum tax, and other (such as state or local). |
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Eliminate manual journal entries. The OSAS General
Ledger interface records accumulated depreciation
expense entries automatically when you post. |
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You can change the system to conform to your tax
assessment and reporting needs with user-definable tax
districts. |
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Group related assets for reporting purposes or link
additions and adjustments to original assets by using
multiple-part asset IDs. |
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You can modify the system to conform to the way your
business is organized with user-definable location
fields. |
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You can use Fixed Assets as a stand-alone application,
or you can increase its power and versatility by
integrating it with other OSAS applications. Its online
connection with General Ledger lets you look up and
verify GL account numbers from Fixed Assets, post book
depreciation information to General Ledger, and update
your accumulated depreciation and depreciation expense
accounts automatically. By adding GENERAL Report Writer,
you can create custom reports and transfer data to
business tools such as word processors, spreadsheets,
and database managers. |
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Date and time stamping all reports helps to assure
accurate data analysis. |
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Fixed Assets Reports:
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Period Depreciation Journal |
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Lease vs. Buy Analysis |
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Trial Depreciation Schedule |
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Additions Journal |
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Retirements Journal |
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Assets Value Report |
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Depreciation Comparison Report |
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Credit Recapture Report |
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Property Assessment Schedule |
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Percent of Business Use Report |
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Gains and Losses Report |
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Depreciation Summary Report |
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Credit Summary Report |
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Depreciation Tax Report (for IRS Form 4562) |
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