Fixed Assets Overview

The INVISION Fixed Assets module enables municipal governments and utilities to maintain detailed records of assets, including depreciation.  The Fixed Assets module is flexible and can include any assets and property such as real estate, buildings, furniture, technology infrastructure, equipment, and computer software.  You can learn where the fixed assets are, when they were put into service and why they were taken out of service.  You can record purchasing information and view both scheduled and taken depreciation.  When depreciation is taken, the appropriate GL journal entries are made to reflect the depreciation.  

The Fixed Assets module allows you to generate an accurate and complete set of financial statements, both to fulfill auditor's requirements and to fully reflect your investments.  This information can also be used to assist with capital planning.  And, it can be a very useful tool when the planning and budgeting for infrastructure maintenance.

Setup

• Set Fixed Assets Options
  
  Note:  Northern Data Systems will assist you with setting the Fixed Assets Options.  Please contact NDS Support for assistance at 1-800-649-7754.

• Use Fixed Assets File Maintenance to set up applicable codes pertaining to assets within your organiztion
  Note:  Setting up Depreciation Methods is the only file maintenance that is required.

• Enter fixed assets and generate depreciation schedules

• Run Initial Asset Depreciation

Processing Fixed Assets and Depreciation

• Add new assets and generate depreciation schedules, when applicable

• Run Current Period Depreciation

• View asset schedules and depreciation history

• Track asset useful life