Greentree Fixed Assets Module
Supplied by: Star Business Solutions
Managing assets, minimising tax and planning for future capital investments or disposals is made easy with Greentree's Fixed Assets module.
By knowing exactly where each of your assets are located and the exact value, you can more effectively plan your capital purchases and disposals.
- Internet Enabled
- Fully Integrated Operation
- Multiple Depreciation Methods
- On-line Access to Information
- Asset Groups
- Pooled Assets and Sub Codes
- Asset Tracking
- Insurance Companies
- Data update from Microsoft Excel
- Forecasting Facility
Greentree is enabled for Internet deployment, out of the box, using its thin client technology. This allows remote offices or travelling executives to obtain secure access to the complete functionality of Greentree via an Internet Service Provider.
Fully Integrated Operation
Greentree's Fixed Assets module is fully integrated with the General Ledger module, ensuring purchases, depreciation, disposals, revaluations and other relevant information is reflected immediately in the financial accounts. Asset purchases or additions may be entered via the Accounts Payable module, saving both time and duplication of data entry. If the Job Costing module is in use, depreciation values may be posted to a job on a per-asset basis. This means individual plant items that are being tracked on an income and expense basis, using Job Costing, can be more accurately monitored.
Multiple depreciation Methods
Two sets of depreciation figures are calculated and maintained by Greentree; one for accounting purposes, which integrates directly with General Ledger, and the other for reporting to the Tax Department. In addition, assets may be depreciated using either the straight line or diminishing value methods. Depreciation methods are determined on a per-asset basis, and a particular asset could be depreciated using diminishing value for taxation purposes and straight line for accounting purposes.
Depreciation recovered, offset depreciation if purchasing a replacement asset, and capital profit or loss on the disposal of an asset are automatically calculated and managed by Greentree. Depreciation can also be calculated on a daily, monthly, half-yearly or annual basis depending on your requirements.
On-line Access to Information
Managing assets effectively means knowing the exact location and financial position of each item quickly and effectively. Greentree's enquiry facility summarises the complete financial history of each asset for both the accounting and taxation depreciation methods. In addition, the transaction history may be viewed on-screen and individual items "drilled down on" to view the source document, such as a supplier invoice.
Planning for the movement of assets into and out of your organisation in future accounting periods or years can have a significant impact on your projected budgets, by affecting depreciation values, capital gains or losses, etc. Greentree's forecasting facility allows you to explore "what-if" scenarios, and plan your asset movements more effectively. This special feature also allows you to monitor and incorporate changing conditions such as new government depreciation schedules, which may be implemented midyear.
Managing a large number of assets is made easier using Greentree's flexible asset grouping structure. A multi-level "tree structure" may be defined that groups your assets into logical areas such as vehicles, plant, office, etc. Each of these areas may then have a number of sub-levels. Asset groups make reporting easier and depreciation rates, methods and the General Ledger posting accounts can also be defined at each level.
Pooled Assets and Sub Codes
Smaller assets, such as office chairs, can be managed as pooled assets to save time and reduce needless paperwork. Greentree provides the ability to track quantities for each pooled asset, which can be added to or reduced at any time. Larger assets are often made up of a number of components that need to be tracked, and depreciated, separately. For example, a computer system may include a screen, keyboard and processor that each have a unique serial number and may be replaced or moved independently. Greentree manages this process effectively by allowing a "sub code" to be assigned to each asset component, allowing larger assets to be reported as a total or itemised separately.
Each asset may be assigned a serial number and location. This enables you to report these details on the asset list. Each asset also belongs to a "profit centre" which can be used to default account segments when updating values to General Ledger. Assets can easily be moved between locations either individually or in bulk, ensuring depreciation information is always accurately reflected in the correct profit centre (or branch, department, division, etc) in General Ledger.
Insurance details are able to be tracked against each item, allowing this information to be viewed. This facility also assists in the event you need to make an insurance claim by minimising the time taken to locate your policy details.
Data update from Microsoft Excel
Greentree allows the user to create both Fixed Assets master files and transactions from within Microsoft Excel. All Greentree's database validation rules and user security are respected, giving a totally secure flow of data from Microsoft Excel to Greentree. This is commonly used to transfer Fixed Asset data from legacy systems, as well as process transactions or adjustments entered into Excel templates, by remote users.