With this module, you can keep records of all types of assets, such as low-value, tangible/intangible, and long-term/short-term assets. You can also view and print a fixed asset card that shows how the asset was depreciated for accounting and tax purposes in each year.
Note: You can also keep records of leased assets. For the lease type, you enter the basic lease parameters, and on the Leasing form you create the lease schedule and the list of tax expenses. The system then generates Other Liabilities in the Accounting module for the current accounting period. When the period is closed, liabilities are generated for the next accounting period.
Fixed, low-value, and non-depreciated assets:
The module keeps records of low-value, tangible, and intangible fixed assets and leased assets, and depreciates them in accordance with the law.
The module supports depreciation calculation for accounting and tax purposes:
Accounting (economic) depreciation: You choose the depreciation amount based on your needs and experience. You can set accounting depreciation over a specific number of months. Depreciation should reflect the actual situation in your company.
Tax depreciation: Tax depreciation is determined by the depreciation group to which the asset is assigned. You can find an overview of these groups in the Depreciation Groups function.
A depreciation schedule is maintained for each asset for the entire depreciation period. This allows you to view and print the asset card with an overview of how the asset was depreciated for accounting and tax purposes in each year.
Leased assets:
Another record type in the module is leased assets. For the lease type, you enter the basic lease parameters, and in the Leasing list you create the lease schedule and the list of tax expenses. After you define the lease schedule, the program generates other liabilities in the Accounting module for the current accounting period. When you close the period, liabilities are generated for the next accounting period.