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Fixed Assets & Depreciation System (FADS) User Manual
Asset Book Overrides
You can enter manual calculations of depreciation for fixed assets that do not use the
standard depreciation method (Asset Book Overrides). When you run the
Depreciation function, the system will use the amounts saved as asset book
overrides in place of the system-generated calculation. You can use this feature for
fixed assets that do not use the standard depreciation methods.
Forecast Depreciation Costs for All Fixed Assets
With the Depreciation budget function, you can calculate the following year’s monthly
depreciation for all the fixed assets in the system. This will give you a better insight
on the depreciation expenses that will be incurred in the subsequent year(s). You
can forecast to up to three years.
Unlimited Number of Fixed Asset Card Files
In FADS, there is no limit on the number of fixed asset cards and asset book override
records that you can create. For asset cards that had been closed for sometime, you
have the option to purge these records. But extra care must be exercised before
purging these records.
Keep Track of Valuable Information
In the FADS Asset Card Register function, you can enter and view very important
information about the asset file. You can enter information of generic nature like the
department and location to where the asset belongs, the asset custodian,
specifications of the asset, related purchase information, inspection and warranty
information and any assets that are associated to a particular asset file. You can also
view historical information right in the Asset Card Register information without
having to generate a report. Furthermore, you can enter information regarding the
financing obtained and insurance acquired for the asset file.
Attach Related Image and Other Files
In FADS, you 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.
Monitor Asset Expenditure
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. You can further generate reports that will show the difference between the
budgeted amount and the actual expenses incurred.
Sale, Disposal or Exchange
FADS allows you to closely monitor the movement of your fixed assets, from the
acquisition to sale, exchange or disposal. The system allows you to record the
exchange, sale or disposal and any related gain or loss resulting from such
transactions. With the Asset Change History report, you can view the different
transactions affecting your fixed assets. You can also generate the Disposal Report
and Asset Exchange Report.
Change in Depreciation Method, Location, Department or Asset Class
Under exceptional circumstances, a fixed asset’s attributes that normally would not
need changing may need to be changed. FADS allows you to perform these functions
by choosing from among the four options in the Asset Adjustment function.
AppFinity/CharterHouse Fixed Assets & Depreciation (FADS) User Manual
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