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emPOWER Fixed Asset Module

Intersoft’s emPOWER Fixed Assets system is a very comprehensive, but easy to use application, providing powerful facilities to assist you in organising your company’s assets.

The emPOWER Fixed Asset module allows you to track each asset with each transaction providing full audit trails and seamless integration to the General Ledger.

Key Features of emPOWER Fixed Assets

Full Asset Details

Comprehensive details on each Asset are held including the Asset’s status, serial number, review date, last depreciated date, depreciation methods and rates, Branch, Category and Type. Purchase details are also held.

emPOWER Fixed Assets, Status Sdump

Depreciation

emPOWER caters for all standard types of depreciation, i.e. Straight Line, Diminishing Value and Nil.

Initial depreciation caters for both the Australia and New Zealand traditional methods of either the actual days owned in a month (AUS) or the whole month (NZ). Depreciation methods may be changed at any point, e.g. from Diminishing Value to Straight Line, and re-calculated from that date.

Most importantly, however, is that the system can maintain both normal depreciation and tax depreciation values. This allows depreciation to be calculated at two rates, one for the company’s books and one for the tax department. A schedule of “Deferred Tax” may be printed to show the variances.

Asset Explorer

The unique Asset Explorer provides a snapshot overview of a group of assets as well as full analysis of individual assets all in one screen. It allows fast and efficient analysis of asset summaries and groupings. Groupings can be made by any combination of Branch, Employee, Category, Parent Asset, Site, Status, Supplier and Type.

emPOWER Fixed Assets, Explorer Sdump

Asset Components

This is one of the more powerful functions of the Fixed Asset system. It allows assets to be logically combined to form a larger asset entity. For example, a computer may have a CPU, monitor, hard disk, memory and other components. The system can report this as one combined “computer” asset, or as individual assets.

Each individual component has its own details, e.g. purchase date, warranty date, serial number, and depreciation. Each component or the entire asset may be processed through the system allowing quick and simple asset maintenance.

Asset Categories

Asset Categories provide a way of grouping assets and defining default characteristics for an asset. This includes the default depreciation rate, and provides the “default” characteristics for a new asset. Individual assets can override this with their own rate.

Asset Types

As well as Asset Categories, you may use Asset Types to group assets. For example, although an asset’s category is computer equipment, you may well use asset types to further define this asset as a computer monitor or printer.

Sites

You may record where each asset is in relation to its site (physical Building, City etc). This allows you to locate assets quickly and also to view all assets at a particular site; e.g. all assets in “reception”. Sites may also be allocated to Parent Sites.

Departments

All fixed asset transactions can be split between Departments using predefined ratios. This is useful when Departments are used for profit centre analysis as depreciation expenses can be allocated between the different Departments that use the asset.

Employees

Each asset can be assigned an employee. This may be the person in charge of or responsible for the asset, the person who controls the asset or even the person using the asset. This enables you to quickly isolate not only where the asset is located, but also who to speak with to obtain more information regarding it.

Flexible Open-Period Processing

You may post transactions into any month in any year (with close-off dates to prevent accidental postings). This enables you to proceed with your work and keep your fixed asset register right up to date, whilst still allowing corrections to be made to prior months.

Purchases and Disposals

Asset purchases and disposals can be quickly entered through specialised data entry screens. Depreciation adjustments are fully automated. If integrated to the General Ledger system, all accounting entries are automated such as gains and losses on the sale of assets.

Revaluations

Assets may be re-valued at any time, either writing off some of the asset or re-valuing the asset at a higher value. Depreciation adjustments resulting from Revaluations are fully automated such as reserves and losses transactions.

emPOWER Fixed Assets, RevaluationSdump

Transfers

Transfers allow assets to be moved between Asset, Branches and Categories. Full records of the asset before and after the transfer are held. If integrated to the General Ledger, all accounting entries are automated.

Batch Transaction Entry

Batch Transaction Entry allows you to manually enter transactions into emPOWER. For example: to create opening balances or adjustments.

Asset Logs

Log notes for each asset may be entered when certain actions take place. Log notes may be classified into any number of subject headings, and each log can have an action and completion date. This helps you to log actions that need to be taken. Value and Counter fields can be used to record costs and asset usage.

Reports

A wide range of parameter selectable reports are available on the system. These include:

  • Asset Lists
  • Transaction Listings
  • Depreciation Schedule
  • Deferred Tax Schedule
  • Purchase and Disposal Summaries
  • Future value schedule
  • Stock sheets

All Reports may be printed to Screen, and the many “parameters” provide extremely flexible options, displaying full details to very summarised information. Component assets and tax values may optionally be listed in detail or summarised to their main asset.

Assets Reports may be grouped by any combination of Branch, Department, Category, Site, Employee, and Asset Type. Reports may also be printed “as at” a date.