More Effective FIXED ASSETS Management
• Overview & Deep Dive
Fixed Asset Management • Intuitive integration with ASCEND AP • Master/Sub Asset relationship • Easy Split and Disposal with GL entries • Internal, FED, AMT, State, and Custom Books • Tax Compliance, Form 4562 • Powerful reporting via ASCEND Report Writer • Core GL Integration
AP to Fixed Assets • Invoice GL Line item coded as a Fixed Asset • Simple transition to Asset Creation • Invoice and Vendor Information is linked to the resulting Fixed Asset.
Fixed Asset Management •
Utilize the same Asset ID for multiple assets
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Create an unlimited number of Sub-Assets
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Associate like Assets from bulk purchasing
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Associate Assets related to a project (construction, IT, etc.)
Master/Sub Asset Relationships
Fixed Asset Management Asset Split/Disposal • Split Assets via percentage or amount
• Dispose/Sell/Junk Assets
• GL Entries available for Gain/Loss and Disposal
Asset Books
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Internal/GL Book
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FED, State, and AMT
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Custom – create an unlimited number of custom Tax books
Fixed Asset Management Tax Compliance • BankTEL ASCEND is promptly updated annually, based on IRS Guidance and recently passed Tax laws. • Mass Asset updates available for changes to applicable assets (bonus depreciation) • Error notification for non-compliant assets. • Creation of Form 4562 • Extensive Depreciation and Gain/Loss reporting for all Asset books.
Fixed Asset Management • Flexible, Customizable Reporting via ASCEND report writer • Reporting Available for all Books
Fixed Asset Management Core GL Integration • Process Depreciation monthly or additionally as needed. • Entries created for Depreciation Expense and Accumulated Depreciation. • Disposal and Gain/Loss entries available for disposed Assets.
Fixed Asset Management •
Elements of Engagement
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How can ASCEND’s integrated product suite help facilitate the setup of a Fixed Asset?
What are the benefits to utilizing the Master/Sub Asset relationship in ASCEND Fixed Assets?
What takes place in ASCEND when Assets are Split or Disposed?
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What sets of books does ASCEND Fixed Assets Support?
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How can ASCEND Fixed Assets assist with Tax compliance and filing? •
What level of customization is available in ASCEND’s Fixed Asset Reporting? •
Can ASCEND Fixed Assets integrate with my core GL?