Assets
Long-term assets often make up for a significant part of the company’s property. Detailed information about assets structure, depreciation rate, planned deprecation, location, and other attributes, together with links to the General ledger, are managed by the Assets module.
Module description
The closely linked submodules of Asset Records and Posting Documents give a primary overview of the company’s assets. The Property File can be divided into an unlimited number of Property Ledgers. The Property File records all movements in assets for their entire service life. General ledger and tax depreciation/amortization is defined in compliance with applicable laws.
The Asset Records offer all possible ways of depreciation/amortization calculation based on which a depreciation/amortization plan can be prepared. This module is linked with the General ledger Module through the register of Possting Documents. Via a special function, a separate accounting document is created for every accounting period and ledger that contains all the movements and depreciation/amortization of assets, including comprehensive information on allocation.
An important feature of the Assets module is that the balance of assets is reported in real-time across individual accounting years, and TWIST INSPIRE ERPmonitors a complete history of assets’ location and changes therein.
Submodules:
- Asset records
- Posting documents
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