Accounting – Fixed Assets



Accounting - Fixed Assets


You need to analyze the tax and cash-flow implications of assets before you acquire them. Once you have them, you need to track their valuation and depreciation. TRAVERSE Fixed Assets gives you the power to do just that. It will help you make wise decisions about when to buy, when to lease, and how to manage your capital for maximum return. You’ll also have the full range of financial and management reports you need to manage your investments and meet tax reporting requirements.

TRAVERSE provides the capability for Internet/intranet access and provides a seamless interface to Microsoft Office products such as Word, Excel, and Outlook. You’ll have the forecasting tools you need to evaluate leases, amortize loans, and experiment with depreciation strategies before you make a capital commitment.

Keep an eye on your depreciation options with four depreciation books that let you track four sets of depreciation information. You can also retire assets at any time. Track the difference between estimated depreciable and actual service life and calculate the cost or proceeds from the retirement of an asset.

You’ll stay up to date with tax law changes. Fixed Assets provides a set of IRS-supplied depreciation tables and supports MACRS, ACRS, straight line, sum-of-the-year digits, and declining balance recovery methods. Flexible tables help you make changes easily to stay current with tax laws.


    Calculate depreciation for a combination of books including book, federal tax, alternative minimum tax, and other (such as state or local).

    Eliminate manual journal entries; the TRAVERSE General Ledger interface records accumulated depreciation expense entries automatically when you post.

    Change the system to conform to your tax assessment and reporting needs with user-definable tax districts.

    Group related assets for reporting purposes or link additions and adjustments to original assets by using multiple-part asset IDs.

    Modify the system to conform to the way your business is organized with user-definable location fields.

    Track actual and scheduled service maintenance dates with a description of work performed for each asset.


    Period Depreciation Journal

    Lease vs. Buy Analysis

    Trial Depreciation Schedule

    Additions Journal

    Retirements Journal

    Asset Value Report

    Depreciation Comparison Report

    Credit Recapture Report

    Property Assessment Schedule

    Percent of Business Use Report

    Gains and Losses Report

    Depreciation Summary Report

    Credit Summary Report

    Depreciation Tax Report (for IRS Form 4562)