Fixed Asset Software Designed for Financial Institutions
Streamline your depreciation entries with a direct interface to your GL, tax reports for depreciation forecasting, and a complete custom report writer.
Manage all lifecycle points with the ability to update cost, next depreciation amount, and accumulated depreciation at any point in the asset’s life.
Maintain standards with GAAP, federal, AMT, and state depreciation methods. We’re also Publication 946 compliant.
Retrieve projection reports for budgeting purposes by year, month and quarter.
Over 1,700 U.S. banks and credit unions trust our fixed asset software.
Getting a clear view of your assets boosts your productivity and helps you focus on your growth. We make that process simple. With Banktel’s fixed asset software, financial institutions can grow their business with a fully automated solution that tracks assets while reducing information, maximizes your tax savings, and reduces your operating costs.
- Facilitate GL and tax assignments with class defaults
- Generate IRS Form 4562 automatically
- Report by class, location, GL, and more
- Post depreciation and disposals to your GL automatically
- Split assets by percentage or dollar amount
Video Transcript
For us, there’s quite a few the integration with not only AP, but our fixed assets and prepays and accruals was huge for us. So having the ability to flag those and easily create the prepaid and fixed asset records is really nice makes month-end processing much smoother. And then avid pay is big, you know, it eliminated the need for our staff to actually cut those checks and stuff them on a daily basis. But it’s also gonna help with our sheet processes. They’re really good at monitoring those checks and making sure, you know, we get those checks stopped timely and reissued when we need to. So that’s really nice. And then the invoice storage and document retention you know, being able to quickly query the invoices rather than sifting through paper. It’s huge.
Yeah. So you know, our core system is Symitar and so being able to directly integrate with that it was a huge efficiency for us. We, we process a lot of AP items and we have a lot of fixed assets and prepays. And so those postings now are just a quick batch process that eliminates that manual component and the chance for things to be miss posted and miss keyed. And so the other piece that we really like is the descriptions that are in bait tail is exactly what flows over into seminar. So easy reference when we’re looking at specific vendors or invoices. So that’s really nice as well.
Banktel integrates with our core Symitar, which includes not only AP, but also fixed assets, and prepaids and accruals. Having the ability to easily flag those and create records, and then being able to post everything as a quick batch process in the core really makes that so smooth.
Jennifer Grecian, Senior Accounting Specialist, GreenState Credit Union
Customize your fixed asset software.
Streamline and accelerate your multi-org process.
Use one database.
ASCEND allows for an unlimited number of companies or paying institutions to work within one database. Plus, each user has their own set of users and permissions, and the ability to interface to their respective GL.
Split expenses inter-company.
Have multiple companies? No problem. ASCEND allows for one company to pay an invoice and then split the expense across other companies’ GL, saving countless time on manual processes.
What our clients say about our fixed asset software
Fixed Asset Software Resources to Consider
Manage Your Bank’s Fixed Assets
FI’s are turning to automated fixed assets management to increase efficiency, save time and money, and streamline accounting workflow.
FCFCU Supports Expansion With BankTEL’s AP Automation
ASCEND helped the growing $1B credit union streamline approvals and vendor management and mitigate the risk of fraud.
Southwest Capital Bank Uses Banktel Modules to Scale
in 2015, Southwest Capital Bank doubled its asset size—to $350M—in about three years. Shortly after, they started using BankTEL.