Eliminates duplication of effort
IRIS Fixed Asset Register uses any asset information already
in IRIS Business Tax as its starting point. Alternatively, you can
enter all details directly into the Register, which will
automatically register them in IRIS Business Tax ready for capital
allowances computations. Either way, data entry is minimised and
time saved. A change or deletion in either module is reflected in
the other.
In the same way, IRIS Fixed Asset Register will generate the
postings for depreciation and hire purchase for the year which are
then used automatically by IRIS Accounts Production.
Performs all routine calculations
Once an asset has been registered, IRIS Fixed Asset
Register calculates the depreciation each and every year throughout
its lifetime, without any manual intervention. Automating these
essential, routine calculations for depreciation, lease or HP
liability and finance charges saves many hours on each year's job
and frees time for higher value projects. Each year, all you need
do is enter acquisitions and disposals before posting to the
accounts.
More than financial information
IRIS Fixed Asset Register provides a record of purchases,
descriptions, dates, suppliers, insurers, references, disposals –
all available instantly to be viewed on screen or printed as
reports. This has potential to provide a valuable resource for
clients in the day-to-day management of their assets.
On-screen asset browser makes administration easier
A browser displays all the assets and makes amending and
updating selected assets quick and easy. Revaluations are also
simplified: IRIS Fixed Asset Register knows whether the asset has
been revalued in the past and confirms that the user wishes to
revalue again before proceeding.
Automatic posting file generation:
- Details of individual assets
- Consolidated for groups of assets
- Partial periods for management accounts
Detailed asset information includes:
- Asset number*
- Asset description*
- Purchase price*
- Initial net book value
- Date of Purchase*
- Depreciation start date
- Supplier
- Insurance value
- Residual value
- Lease type
- Depreciation policy
- Profit & loss depreciation
- Date of disposal*
- Amount of disposal*
Reports:
- Asset details
- Asset summary
- Asset group summary
- Additions and disposals
- Lead schedule
- Posting details
- Depreciation policies
* shared with IRIS Business Tax
