Page 22 - Millennium U4F Brochure 2021

Fixed Assets
Controlling fixed asset information and extracting the data needed
for compliance and reporting purposes can often come with many challenges. These hurdles may be caused by lack of a proper functioning asset management system or the need to update processes to reflect changes in the organisation’s environment.
Within Unit4 Financials the Fixed Assets module forms part of the core product suite and allows users to manage all their fixed asset obligations in one place. Module features include:
• Integral to the solution’s single financial model – no batch updates, always in balance.
• Track assets across multiple companies, currencies, and “books”.
• Flexible and standard depreciation rules: Any number of user defined depreciation rules and plug-ins for global coverage.
• User-defined tracking, categorization.
• Disposals: full or partial.
• Transfer assets – between cost centres or to create a new asset.
• Revaluate appreciating assets and post the financial transactions to separate revaluation accounts: Revalue
by value, percentage, or a customizable rule.
• Forecast future year depreciation charges: Export forecasts to a spreadsheet or to balance codes for further analysis or reporting.
• Real-time enquiry facility to view exact financial status.
• Supports all methods of asset creation, including bulk loading; automatic creation from an invoice; or customized manual entry: Mass loading of assets from an external system using XML and Direct cost transfers from G/L WIP to Assets.
• In-tray facility allows the initial entry of asset details for subsequent authorization and capitalization.
• Users can browse customized lists of assets, with comprehensive drill-down to view full asset details, associated transactions, and financial postings.
• Assets can hold values in multiple currencies., so you can:
– capitalize an asset from Financials and record
the cost of the asset in
the currencies captured from Financials.
– create an asset manually
and hold all its values in one or more additional currencies.
– calculate depreciation based on the historic rates.
– calculate full and partial disposals based on the historic rates.
– revalue assets and forecast depreciation for assets in multiple currencies.
– transfer assets, with their values being cleared down and reinstated in all currencies.
– post transactions into Financials using the currency values calculated in Assets.