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Fixed Assets

OpenPro Fixed Assets Overview

The OpenPro Fixed Assets module records company assets and automatically calculates depreciation expense. The system supports several methods of depreciation and automatically posts accumulated depreciation and depreciation expense to the General Ledger module for a specified accounting period.

Flexible Asset Numbering System: An unlimited number of assets can be maintained each with an alphanumeric code of one to 65 characters. The assets can be grouped by many types of categories for reporting purposes.

Depreciation Methods: A variety of depreciation methods are supported including straight line, double declining balance, ACRS, and sum-of-the-years digits.

User Defined Asset Control: Accumulated depreciation, depreciation expense and asset master accounts are user specified for each asset.

Reports: A variety of reports are produced including a listing of all assets by type, category and description, method of depreciation and all other information maintained in the master file. The module also prints reports listing assets with original cost and current book value and calculated depreciation for a specified period.

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