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Fixed Assets

Fixed Assets (FA) is intended to track the purchase and depreciation of non-utility assets such as office furniture, equipment, trucks, etc. In addition to depreciating general plant on an individual basis, Fixed Assets can also depreciate utility plant assets on a group or GL account basis.

A separate Plant Assets module handles the construction and retirement of utility assets, such as poles, wire, and meters. Plant Assets primarily tracks assets generated from the Work Order process.


Key Features & Benefits of the Insight Fixed Assets Module

Fixed Assets Management:

Fixed Assets module provides comprehensive recording, tracking and analyzing capabilities for fixed assets, helping the utility to gain the valuable control needed to make better, timelier management decisions.

Fixed Assets:

The module is designed to track the utility’s tangible assets (office furniture, equipment, and other business equipment) and purchase information, while automatically calculating depreciation, eliminating the need for manual spreadsheets.

Asset management capabilities offer the flexibility and control to accurately manage fixed assets and to automate time-consuming tasks of depreciation calculations.

Ease of Use:

Perfect for the small to midsize utility; easy to use, quick data entry, and highly integrated with General Ledger, Transportation, and Project Costing; helping the utility improve efficiency and reduce costly data entry errors with an accurate, efficient fixed asset management solution.

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Asset Maintenance

Asset Defaults:

Each asset is assigned a Class ID which acts like a template, automatically populating the Fund, Sector, GL Account, and Project codes. These are updated for the Asset, Accumulated Depreciation, and Depreciation Expense accounts. This allows for fast and accurate input of an asset.

Fixed Assets also Delivers:

  • New asset setup simplifies the creation, acquisition, and depreciation of fixed assets.
  • Asset Group Code easily creates and defines custom asset groups providing additional categories.
  • Calculates depreciation of general plant assets based on straight-line depreciation and seamlessly integrates with General Ledger, Transportation, and Project Costing.
  • Ability to calculate depreciation of utility plant based on General Ledger account balance.
  • Several reports present the precise data needed for making fast, accurate decisions. Examples of reports include: asset balance, asset master listing, asset summary, and asset class maintenance.
  • Allows multiple notes to be added to the asset, asset class, and depreciation batch.
  • Application allows the depreciation to be calculated if a new asset was entered after depreciation was calculated for the month.
  • Tracks depreciation information such as salvage received, retired date, estimated salvage, cost basis, depreciation basis, remaining basis, remaining life, and estimated next month depreciation.
  • Reports can be selected by class, group, and asset codes, either individually or as a range of assets.