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.

FAM - Fixed Asset Management

In large or decentralized organizations, fixed asset management can pose complex challenges in administration, access, user-specific customization and system security. Compatibility with existing accounting and business management software can be of equal concern.

The Fixed Asset Accounting module is the leading fixed asset management software for medium-sized companies. Fixed Asset Accounting combines acknowledged depreciation expertise and user friendliness with the added power and functionality your situation demands. It was developed to meet the needs of your business, providing fast, dependable, customizable fixed asset management performance and data security.

FAM provides the additional ability to execute partial and whole transfers and disposals, conduct bulk disposals with automatic gain/loss calculations and track transfer activity with as little as a single keystroke.

Plus, it provides extra security features at the system level, company level and userdefined menu levels, such as complete audit histories on all changes made to the asset system. In addition, SmartLists provide user-defined values for each asset descriptor, ensuring a high level of consistency throughout the asset system. Finally, when combined with the rest of OpenPro Financials, it creates a powerful, reliable, easy-touse, and secure total accounting management system for your entire organization.

FEATURES:

• Easy to Use - Fixed Asset Accounting provides asset templates to help ensure that new assets can be created both quickly and accurately. Assets can also be created by copying an existing asset. This facility is very important for system usability.


• Transfers and Disposals - With Fixed Asset Accounting, you can execute partial and whole asset transfers and disposals individually to userdefined depreciation schedules. For bulk disposals, the system also automatically calculates gain/loss on individual assets.


• Group Manager - Group Manager lets you define groups of assets as you go. Definitions can be based on any characteristic including type, location, custodian and acquisition date. Depreciation, reporting, location change and disposal require only a few keystrokes to implement.


• Asset Templates - Templates provide an easy way to create a new asset. When an asset is added, the selected template automatically fills out the asset information, reducing errors and improving efficiency. An unlimited number of assets can be created.


• Asset Views - Asset Detail View allows you to view all details of a single asset from all seven books on a single screen. In Asset Group View, you can work with and view multiple templates simultaneously.


• Asset Images - Pictures of an asset, purchase order, maintenance agreement, warranty, invoice and other documentation can be scanned into the file and viewed on screen at any time, providing a complete and readily accessible record of all asset data.


• Asset Navigation and History - In addition to the system’s powerful query capabilities, Fixed Asset Accounting provides instant switching between Main and Disposal functions, a complete audit trail of the major events in an asset’s life, and the facility for attaching notes to record important details.


• Extended Fields - Description fields can be up to 80 characters in length, and extended user fields can accommodate up to 25 characters, affording optimal space for easy and complete asset definition. Up to 100 characters can be entered for general ledger account numbers.


• Automatic Calculations - Fixed Asset Accounting automatically creates AMT and ACE schedules using your choice of more than 20 methods of depreciation including MACRS 150% and 200%, ACRS, Straight Line, Modified Straight Line, Declining Balance and Sum-of-the-Years Digits. Other automatic calculations available range from Full Month Convention, Mid Quarter Convention and Half Year Convention to Section 179, ITC, Gain/Loss, Salvage Value and Tax Preference Amounts. The system also provides the flexibility to create customized methods in each company.


• Part of OpenPro Finanicals - Fixed Asset Management, Asset Accounting integrates with the OpenPro General Ledger for comprehensive accounting management performance. And, for even more integration, assets can be added automatically when purchased or received, if used in conjunction with OpenPro Accounts Payable and Purchase Order modules. The assets automatically transfer from the purchasing system into Fixed Asset Accounting using an asset template based on the purchased item type. After transfer, Fixed Asset Accounting can customize the asset information, if necessary.


• Custom Report Writer - More than 20 standard reports are available, each allowing user-defined sort and range criteria on all fields. You can also create custom reports with built-in report helpers, produce custom consolidated reports that let you “roll up” data without changing the underlying database and specify totals-only reporting for standard reports.


• Extra Security - Fixed Asset Accounting can assure complete security at user, user-defined menu, system and company levels, protecting important or proprietary data from unauthorized access or manipulation. This security feature also includes fully controlled access to user-definable SmartLists for fewer data entry errors.


• Online Help - Instant context-sensitive online Help is always available. Furthermore, customizable Help for online corporate guidelines can be added easily.


• Technical Support and Updates - A SupportPlus membership provides access to toll-free phone assistance, automatic free system enhancements and updates, automatic tax law updates, 24-hour access to SupportPlus Online and a wide array of other privileges and value-added benefits.

• Enhanced history tracking which allows capture of critical “before and after” asset conditions.


• Seamless integration with the Asset Inventory module, for fixed asset tracking and reconciliation.


• Automatically add assets when purchased or received. (Requires OpenPro Purchase Order and/or Accounts Payable modules.)


• Custom Report Writer with graphics, drill down and batch reporting capabilities.


• Seven books — all visible on one screen:
  • Internal
  
  
  • Tax
  
  
  • ACE
  
  
  • AMT
  
  
  • State
  
  
  • Two user-definable books
• Automatic creation of AMT and ACE schedules and over 20 methods of depreciation, including:
  • MACRS 150% and 200% (formulas and tables)
  
  
  • ACRS
  
  
  • Straight Line
  
  
  • Modified Straight Line (formulas and tables)
  
  
  • Declining Balance
  
  
  • Sum-of-the-Years-Digits
  
  
  • Customized depreciation methods

• Use the latest bar code technology to automate asset inventory process.


• Seamless integration with the OpenPro Fixed Asset Accounting module.


• Track inventory at remote locations.


• Implement loss prevention policies.

• Baseline


• Dynamic

• Asset Detail View


• Asset Group View (customizable)

• Reconciliation


• Summary


• Past Due


• Detail


• Exception


• Check-In/Check-Out
• Enhanced history tracking which allows capture of critical “before and after” asset conditions.
• Seamless integration with the Asset Inventory module, for fixed asset tracking and reconciliation.
• Automatically add assets when purchased or received. (Requires Purchase Order and/or Accounts Payable modules.)
• Custom Report Writer with graphics, drill down and batch reporting capabilities.
• Seven books — all visible on one screen:
  • Internal
  
  
  • Tax
  
  
  • ACE
  
  
  • AMT
  
  
  • State
  
  
  • Two user-definable books
  •  
    
• Automatic creation of AMT and ACE schedules and over 20 methods of depreciation, including:
  • 
    
  • MACRS 150% and 200% (formulas and tables)
  
  
  • ACRS
  
  
  • Straight Line
  
  
  • Modified Straight Line (formulas and tables)
  
  
  • Declining Balance
  
  
  • Sum-of-the-Years-Digits
  
  
  • Customized depreciation methods

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.

  OpenPro System Wide Features include
Since 1998, OpenPro was the first fully web based ERP solution on the market. OpenPro product uses Open Source LAMP Technology as a based product and has advanced AJAX controls to easily customize and change system features.

OpenPro has a built in PHP Report writer and also works with several external report writers on the market. OpenPro includes Business work flow and Business Intelligence for giving status of each one of its 30+ modules. All modules include built-in document imaging. All the modules are multi-currency and multi-language capable. OpenPro is in nine languages including English, Spanish, French, Italian, German, Arabic, Chinese, Japanese and Portuguese. OpenPro also is designed to handle US and International VAT taxes. OpenPro has over 75 distributors and over 200 developers around the world.

OpenPro is designed to work with a wide range of industries, including Professional Services, Banking and Accounting, Financial markets, Government and Non-profit (Federal, Local and State governments, School administration, Central Government, Safety and Security, Social Services, E-government), Healthcare and life sciences (Product Lifecycle Management PLM Planning and Implementation, Engineering and analysis, manufacturing, PDM), Insurance, Retail, Telecommunications, E Commerce and web management, Manufacturing (Production operations, ERP Planning), Fabrication and assembly, Media and Entertainment, Customer Service (CRM), Leads management, Warranty and service, Supply Chain Distribution, and wholesale distribution.

OpenPro has three major deployment methods, Software as a Service (SAAS) where you get started using OpenPro in one day, pay a low monthly fee for the application, Easy ERP solution for SMB market and Enterprise solution to run on your own servers.
OpenPro is a very powerful web based solution designed to run on most any client platform, by using your existing web browser (zero foot print).
OpenPro back end server can run on most any server, from Apple Macintosh, Linux, Unix, Windows servers to IBM Mainframe server. The product can also run using any SQL server like MySQL, MSSQL, IBM DB2 or Oracle.