Bassets eDepreciation

Video Overview

Features

• Flexible Period (445 Accounting): Supports non-standard tax years with either 4-4-5 week cycles or 13 equal 28-day periods.

• Accounts Payable Import: Imports invoice details into CIP or asset records. Auto-generates assets and depreciation schedules using predefined defaults and GL/Class codes.

• Barcode Inventory Control: Enables physical inventory audits using barcode scanners or custom data collection tools. Compares scanned data with internal system records.

• Construction in Progress (CIP): Manages projects with multiple invoices. Completed projects can be consolidated into single or multiple assets using 17 customizable selection criteria.

• Expense Allocation: Distributes depreciation expenses across divisions or cost centers via allocation pools. Reports can sort and filter expenses by individual assets or allocation pools.

• Foreign Currency Conversion: Maintains asset codes and cost information in a Functional Currency. The system can generate depreciation, gain/loss, and other reports across various currencies.

• General Ledger Interface: Exports monthly depcreation total by general ledger code. Users can define columns, file formats, and reporting months.

• Leased Asset Tracker: An optional feature that tracks leased assets with details like leae type, terms, and fees. Generates reports by lease attributes or leasee/lessor relationship.

• State Reporting: Supports depreciation compliance for all U.S. States and the District of Columbia. Automates compliance for all assets for the unique requirements of each state.

• Units of Production: Depreciates assets based on usage or output instead of time. Includes options for manufacturing and mining-specific industries. This is an optional module.