Cloud Fixed Assets. Split, Transfer, Change of Useful Life, Accelerated Depreciation and more.

Hi Everyone.

In Acumatica version 4 FA module was greatly reworked and improved. Original goal was to make it better than JDE. You are the one to judge.

The module is used by KFC/Pizza Hut for nearly 20,000 assets around 200 locations island-wide. 

Here are some of the features that makes us distinct and unique among other ERP:

1. Asset Split.
It is when we purchase assets in bulk, for example chairs for the restaurant, then entered it into our system as a Single Asset. Well you may not wish spent time labeling each chair individually, but rather put them in as a "lot number". It works fine until we need to shift part of these chairs to another location or even another shop...
One step solution for that - Asset Split process.

2.Asset Transfer. 
There could be a transfer of asset without changing the ownership, when sales purchase of asset is not needed. It can be between branches or Departments

Inter Departmental Transfer:












Second type is when we have to Sell the Asset in location A and re-purchase it at cost on location B.
Inter Brand transfer:

You may notice Disposal Method, that will be used to write off the asset during the transfer. Its because second method require sender company to get rid of asset in their books completely.

3. Change of Useful Life (UL).
There are two ways of changing the useful life of an asset. Either re-depreciate it from the beginning of life of the asset, and then, posting difference to the period of UL change.
Or use so called "accelerated depreciation" mode to spread remaining Net Book Value of the asset over remaining life of the asset proportionally. Depreciating in a nicer and more flat manner.
In Acumatica you are free to choose the method of changing UL for your assets:

4. Cost Additions and Deductions.
It is clear that some assets may get additions. Like for a PC we can buy a new HDD or RAM upgrade.
This is usually managed by changing the asset cost at certain point of parent asset life.
In Acumatica we have a dedicated transaction type and screen to process asset cost additions OR deductions.

5. Reports.
Here I just provide a list of reports we have:

All the Best,

Sergey.