Fixed Assets & Depreciation Software AppFinity and CharterHouse Software have developed a complete Fixed Assets & Depreciation Software (FADS) system that is easy to use and meets the United States Fixed Assets Requirements. This package allows you to properly manage your fixed assets and streamline the various fixed assets-related functions. User-Friendly User Interface CharterHouse FADS is designed so that users will not have any difficulty using the software. Functions of a similar nature are grouped together for your convenience. All functions related to master files are grouped under the Systems menu; the processes required to create various transactions are grouped under the Process menu; generating reports are grouped under the Reports menu and all administrative functions are grouped under the Admin menu. You have the option to create your personal menu where you can create shortcuts to the common functions that you use in your everyday transactions. Control Panel Main Screen CharterHouse FADS Detail Feature Listing (rev-1.1) - 1
The Books CharterHouse FADS allows you to maintain five books, three of which are predefined and two are user-defined. Financial Book The Financial Book is for internal accounting used in monitoring the fixed asset s depreciation. Federal Book The Federal Book is for monitoring fixed asset depreciation information that will be reported to the IRS on the company s federal tax return for regular tax purposes. State Book The State Book is for monitoring fixed asset depreciation information that will be reported on the company s state tax return. 2 User-defined Books These are the books that the company may use in compliance with special industry regulations, insurance valuations, additional state books and other purposes that may warrant the use of additional books. Adherence to Different Tax Regulations CharterHouse FADS supports the following fixed assets tax filing requirements: filing of form 4562, Investment Tax Credit (ITC), 179 Option, mid-quarter convention and luxury and electric vehicle cap. Asset Card Register Screen CharterHouse FADS Detail Feature Listing (rev-1.1) - 2
Built-in Depreciation Methods Luxury and Electric Vehicle Cap Screen You can choose from among multiple depreciation methods that are built into the system. Refer to the Asset Card Register screen. These depreciation methods include the Straight Line method, Modified Straight Line methods, Modified Accelerated Cost Recovery System (MACRS) methods Accelerated Cost Recovery System (ACRS) methods, Declining Balance methods and the Sum-of-the-Years Digits methods. Depreciation Methods Lookup Screen CharterHouse FADS Detail Feature Listing (rev-1.1) - 3
Asset Book Overrides The system allows you to 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. Asset Book Overrides Depreciation Budget Schedule for All Fixed Assets With the 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). Budget Summary Information Screen CharterHouse FADS Detail Feature Listing (rev-1.1) - 4
Unlimited Number of Fixed Asset Records CharterHouse FADS allows you to create and maintain an unlimited number of fixed asset cards and asset book override records. Tracking of Valuable Information With CharterHouse FADS, you can keep track of relevant asset information directly from the Asset Card Register function. Refer to the Asset Card Register Screen for the various links. This information includes the following: General Information From the Asset Card Register Screen, click on the General link to display the General Information screen. General asset information includes department and location numbers; the person to whom the asset is assigned; asset specifications; related purchase information such as PO number, vendor name and order date; related inspection information such as company to conduct the inspection and frequency of the inspection; warranty information and other assets associated with the asset record that you are creating. This information does not affect the calculation of asset depreciation. General Information Screen Historical Information From the History window of the Asset Card Register function, you can view the different information related to the transactions affecting the asset. The information includes the books affected by the transaction, type and date, the user who created the transaction and the amount of the transaction. History Screen CharterHouse FADS Detail Feature Listing (rev-1.1) - 5
Financing and Insurance Information The system also allows you to monitor the financing structure entered into by the company in acquiring the asset and the related insurance information. Click on the Finance Link in the Asset Card Register screen to display the Finance screen. The details entered into this screen in conjunction with the Finance Update function do not result in any accounting entry. These merely serve as a reference to help you keep track of what you have paid, view the financing structure and the related insurance that you obtained for the acquired asset. Finance Screen Cost Center Allocation This feature allows you to properly allocate the cost of the acquired fixed assets. You can properly identify to which department or location an asset belongs. You can specify more than one department in case more than one department is using the asset. Cost Allocation Screen CharterHouse FADS Detail Feature Listing (rev-1.1) - 6
Bar Code Number Entry You can assign barcode numbers to your fixed assets and enter the numbers with the use of a barcode scanner. This makes asset card registry entry faster and more reliable. Asset Card Register Screen Barcode Attach Related Image and Other Files CharterHouse FADS allows you to attach related files to an asset record. Files could range from a scanned insurance policy, financing agreement or image of the fixed asset. You can view the related files by clicking the Attachment link in the Asset Card Register screen. Attachment Screen CharterHouse FADS Detail Feature Listing (rev-1.1) - 7
Asset Expenditure Monitoring CharterHouse FADS allows you to record different expenditures related to your fixed assets. Expenditures may include repair, painting and other improvements on an asset. Asset Expenditure Forecast Asset Expenditure Screen You can set up an annual expenditure budget for your fixed assets with the use of the Asset Expenditure Budget Maintenance. At the same time, you can view any variance between the budgeted and the actual expenditures by generating the Asset Expenditure Variance Graph or generating the Asset Expenditure Variance Report. Asset Expenditure Budget Maintenance Screen CharterHouse FADS Detail Feature Listing (rev-1.1) - 8
Asset Sale, Disposal, or Exchange CharterHouse 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. Sale of Asset Screen Asset Disposal Screen CharterHouse FADS Detail Feature Listing (rev-1.1) - 9
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. CharterHouse FADS allows you to perform these functions by choosing from among the four options in the Asset Adjustment function. Generation of GL Account Distribution Asset Adjustment Screen CharterHouse FADS allows you to generate a GL account distribution text file that you can use in importing the information to your General Ledger system. You may select to generate a single batch or multiple batches. Generate GL Distribution Screen Separate Void Functions There are instances that may necessitate voiding of some transactions that you had created. CharterHouse FADS has separated the void functions from the regular transaction functions. You can use these functions to void the last depreciation calculated for a specific asset; to void disposal, sale or exchange of an asset; and to void the last finance update that you performed. CharterHouse FADS Detail Feature Listing (rev-1.1) - 10
Print Fixed Asset Labels You can print detailed fixed asset labels that you can tag to the applicable fixed assets for proper identification. Print Asset Label Sort By Asset # Screen Generate Various Relevant Reports Asset Reports These are the reports in the Asset Reports section that provide general information and analysis. Asset Card Listing Asset Distribution Report Asset Basis Report Print Asset Label Asset Change History Asset Association Report Asset Balance Worksheet Asset Book Override Listing Mid-quarter Applicability Report Asset Class Reports These reports relate specifically to the analysis of Asset Classes. Asset Class Listing Asset Class Worksheet Depreciation Reports These reports provide information used in calculating depreciation expense and the expense calculated during each fixed asset s depreciation cycle. Depreciation Expense Report Department Depreciation Expense Report Depreciation Detail Listing Expenditure Report The Asset Expenditure Report provides information on the different types of expenditure transactions. You can generate a report sorted by asset, location and expenditure type. You can also generate a report that shows the difference between the actual expenditure vs. the budgeted expenditure. Asset Expenditure Report Asset Expenditure Variance Report CharterHouse FADS Detail Feature Listing (rev-1.1) - 11
Disposal Report The Disposal Report provides you with the information related to the disposal of particular assets. You may choose to generate this report by asset number or by disposal date. Asset Exchange Report To monitor the different asset exchange transactions, you will need the Asset Exchange Report. You may choose to generate the report by new asset number or old asset number. Asset Finance Update Report This report provides you with the finance update transactions that you had performed. You may include only insurance type-related transactions or the acquisition type-related transactions or both. Form 4562 Worksheet CharterHouse FADS allows you to generate this report and use it as the basis for completing the Form 4562 worksheet. CharterHouse FADS Detail Feature Listing (rev-1.1) - 12