FMIS Fixed Assets

FMIS Fixed Assets offers industry leading Fixed Asset Management for mid-market and enterprise users. FMIS allows you to track, manage and report on your assets quickly and effectively within an intuitive interface. The system is fully compliant with GAAP, IFRS and all major accounting standards and can be cloud hosted or installed on premise. The capacity to easily manage multiple books, companies and currencies at the same time make the system ideal for handling complex requirements and high volumes.

FMIS Fixed Assets provides the functionality to manage your assets efficiently even when working with complex requirements & high volumes.

Core Features

Some the key features of the system include:

• Multi-company & Multi-book (regulatory, tax, group, management, local, state, federal)
• Flexible coding structures
• Parent-child relationships
• Additional or late costs, invoice adjustments and project go-live facilities
• Full history of adjustments, transfers, disposals and other events
• User-definable accounting periods which can vary across companies and books
• User-defined description fields
• Comprehensive reporting and search facilities
• Integrate with spreadsheets and leading ERP and finance systems

Depreciation

FMIS Fixed Assets ensures that all calculations can be carried out quickly and accurately generating the correct postings automatically.

• Handles any depreciation method e.g. straight line, reducing balance, double declining balance, bonus, MACRS, AMT
• Allows you to change the depreciation rate and method mid-life
• Fast processing for high volumes
• Reverse out or re-calculate values up until they are posted

Tracking

Detailed asset information allows users to know where assets are at any point, what their status is and understand a full history. ? Track any asset event from acquisition to disposal including transfers, re-lifes and partial disposals ? Record the location of assets down to four levels ? Integrated barcode tracking provides for simple audits and asset updates in real time.

Compliance

FMIS Fixed Assets provides the visibility, functionality, control and calculation methods to help you comply with all relevant standards.

• Complaint with IFRS, SORP, Sarbanes-Oxley, IAS, local GAAP and Component Accounting
• Set up multiple books for local, group and tax purposes

Forecasting

Unlike many systems, FMIS includes forecasting as part of the main Fixed Assets module, making it easy and efficient.

• Forecast values based on either actual assets or actual plus budget
• Budget spend added easily via manual entry, spreadsheet or integration to other systems
• Forecast up to any future point, with full reporting and enquiry facilities on forecast data

Reporting

Generate reports at any level of detail quickly and easily with user defined coding structures.

• Full range of summary and detailed reports
• Flexible coding structures for grouping and summarising
• Reconciliation reports for year end
• Parent-child relationships listed or grouped
• Filter assets using extensive search criteria
• Single or consolidated company reports
• Forecast reports for any number of periods
• Budget vs actual reports
• Finance and non-finance reports, physical audits etc.
• Export any report to PDF or Excel

Integration

FMIS allows you to import and export data easily and interfaces with most leading ERP and Finance systems to prevent data duplication and errors.

• Import and export bulk data from spreadsheets
• Capital invoices posted directly to the ‘in tray’
• Export general ledger postings to Excel or interface directly with your finance system
• Use handheld barcode scanners to enable efficient accurate physical audits

Target Market

• Mostly mid-market & enterprise customers
• Public and private sector (specifically manufacturing, retail, engineering, professional services, legal, tertiary education & healthcare)
• Typical departments and users would include Finance & Accounting (CFO, Controller, Accountant)
• Companies with 20-500+ employees

Pricing

• Starts at $6,000 upfront or $3,000/year
• Key pricing factors:
  • Modules required
  • Concurrent users
  • Asset volumes
• No free trial available