ASCEND’s Fixed Asset application manages costs within a fully automated system to track assets and reduce time-consuming re-keying of information. The application offers fixed asset management with the capability to sell, dispose, or transfer assets between branches and departments. There is an interface to the bank’s GL, with tax reporting, depreciation forecasting, and a complete report writer.
- Integrates directly from Accounts Payable with images
- Internal, Federal, AMT and State depreciation methods available
- IRS 4562 form generation
- Runs reports by classification and location
- Interface to GL for posting depreciation
- Interface to GL for disposing of assets
- Integrates disposed assets reversal entry with your GL
- Asset split by percentage or dollar amount
- Ability to update cost, next deprecation amount and accumulated depreciation at any point of the asset’s life
- Setup classes with full defaults
- Retrieves projection reports for budgeting purposes by month and by quarter
- Multiple monthly deprecation reports
ASCEND offers an unlimited number of companies or paying institutions in one database. Each company has its own set of users and permissions with the ability to interface to their respective General Ledgers.
When having more than one company, ASCEND allows for an invoice to be paid from one company but split the expense of that invoice to other companies GL. This feature saves countless manual entries or tickets.