Fixed Asset System

Fixed Asset System (FAS) is the all-in-one solution for asset inventory control, automatic depreciation, general ledger integration, reporting and effective management of fixed assets. Fixed assets generally represent a significant percentage of total assets, and FAS works to maximize their rate of return.

Security
The system centralizes the management of fixed assets and identifies assets moved from one
location to another, assets under warranty and assets needing repair. Non-depreciable assets such as art, fully depreciated assets and assets owned by employees or other organizations can also be maintained, providing a full accounting of every item owned or located on your property for thorough control. FAS includes the following features:

• Assets are identified and categorized using over one dozen codes and
  descriptions,which are stored for online inquiry and reporting.
  FAS accommodates all standard calculations.
  
  
• Your own policies for asset depreciation and general ledger integration are
  established in the specifications.
  
  
• Every depreciation expense transaction is automatically calculated and posted to the
  general ledger, either monthly or annually. Transactions are created through general
  ledger integration.

Inventory Control and Disaster Recovery
Inventory management and disaster recovery planning are simplified with complete asset information, including:

Asset Number Cost Center Miscellaneous Code

Class Code Serial, Invoice & Tag Numbers Responsibility Code

Two Descriptions Location and Type Code Purchase Price & Date

Depreciation Ledgers
FAS not only accommodates all types of depreciation methods, but also maintains up to twenty separate schedules, or 'ledgers'.

Automatic Transactions
The system automatically calculates the amount of depreciation to be expensed for each asset and creates automatic general ledger entries to debit expense and credit accumulated depreciation. Other automatic transactions are generated whenever new assets are added to the data base, traded for other assets, disposed of, or adjusted manually.

Convenient Asset Maintenance
Default depreciation ledgers and general ledger integration account numbers are automatically assigned to new assets, based upon an asset's Class Code and the specifications.

When changing asset codes, such as the Location Code when an employee and all furniture are transferred to a new location, 'Quick' and 'Replace' screens simplify the maintenance procedure.

For more on Fixed Asset System, contact Fiserv, Inc.
at 402-421-4207 or partner@fiserv.com.

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