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Flexsys Fixed Assets
- About Flexsys Fixed Assets
- Flexsys Fixed Asset Management System makes Asset Management an easy process. Our system gives users all the tools needed to depreciate asset with different methods, arrange them into different fixed assets groups, create valuation and quality assessments and report on condition, value and maintenance expenditures.
- You can choose among multiple depreciation methods that are built into the system. These depreciation methods include the Straight Line method, Modified Straight Line methods, Accelerated Cost Recovery System (ACRS) method, Modified Accelerated Cost Recovery System (MACRS) method, Declining Balance methods and the Sum-of-the-Years Digits methods.
- As the fixed asset is placed in service, you may incur necessary expenses to keep the fixed asset from becoming obsolete or to make it fully functional. To ensure that expenses are kept within reasonable limits, you can create an asset expenditure budget.
- The system allows you to have forecasted information on depreciation costs of all fixed assets or a group of specific fixed assets, this will help you in making important decisions. You can also monitor any expenditure that you will incur for your fixed assets. Expenditures may or may not appreciate fixed asset cost. User can further generate reports that will show the difference between the budgeted amount and the actual expenses incurred.
- User can attach an image of the fixed asset or any other relevant files, like screenshot or softcopy of the warranty card, financing contract or insurance policy.
- In some cases, you may need to void transactions related to the depreciation that you calculated for an asset, a sale, exchange or disposal of an asset, or the last finance update that you performed for a specific asset record. Flexsys Fixed Asset Management System provides you with separate void functions for the cases mentioned above.
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