FIXED ASSETS

Track and maintain a complete book and tax asset schedule for your financial institution.

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, and track assets within your institution. There is an interface to the bank’s GL, with tax reporting, depreciation forecasting, and a complete report writer.

GAAP, Federal, AMT, and State depreciation methods available

Ability to update cost, next depreciation amount, and accumulated depreciation at any point of the asset’s life

Retrieves projection reports for budgeting purposes by month and by quarter

Features:

  • Quick asset input with direct invoice and image integration from Accounts Payable
  • Class defaults to facilitate GL and tax assignments
  • IRS Form 4562 form generation
  • Publication 946 compliant
  • Flexible reporting by class, location, GL, etc.
  • Projection reports by month and year
  • Interface to GL for posting depreciation and disposals
  • Split assets by percentage or dollar amount

Add-On Solutions

Multi-Company

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 GL.

Inter-Company

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.

What Our Clients Are Saying

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“We just had our first external audit with ASCEND. I scheduled a 30-minute sit-down with the auditor to look at specific items. This process would have taken about six hours before ASCEND. The auditor couldn’t get over how easy and accurate it was. She said at least 10 of her bank clients immediately came to mind, that should start using BankTEL. She took a stack of my cards, to give to the accountants at these banks, in case they wanted to call with questions.”

Nicole HulbertSeaside National Bank & Trust
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“I’ve been through the conversion process to new software before, and it’s usually a nightmare. Nothing balances and nothing works. But with ASCEND, things balanced and things worked. It was a very easy move.”

Mendy CollierRegent Bank
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“With BankTEL, everything was more streamlined, there was better reconcilement, better functionality and better security on the user-side of things. It was a major step up for us.”

Heath PrescottFarmers & Merchants Bank of South Carolina
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“Banks deal with accounting every part of every day. It’s a core part of the business. To be able to maneuver through the system and have the detail of records, the tracking and reporting that are available at BankTEL, was long overdue. Ascend is leagues ahead of where we were previously.”

Tony AtecaSecurity Federal Bank
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“One thing I like about BankTEL is that they always want to know what you want and how they can make their product better. They like to listen to customers.”

Lynn McKeeBankWest

CONTACT OUR
SALES TEAM.

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