Business Area Overview
Advantage Fixed Assets enables you to manage and control your organization’s fixed assets throughout their life cycle with a fully integrated with the accounting functions of Advantage Financial. Advantage Fixed Assets conforms to the Generally Accepted Accounting Principles (GAAP) for fixed asset accounting, and supports financial reporting of fixed assets as mandated by the Government Accounting Standards Board (GASB).
Advantage Fixed Assets supports common and custom fixed asset types. For example, the system supports land, buildings, equipment, vehicles, infrastructure, and construction-in-progress as separate asset types. Within each asset type, you can define a reporting hierarchy to classify groups of related assets.
The tracking of a fixed asset begins with the acquisition of the asset, includes any maintenance transactions to record asset changes (such as improvements, modifications and transfers), depreciation updates, and ends with asset disposal. To assist you in the tracking of fixed assets, you can search for specific types of data on the Fixed Asset Registry or define custom reports using standard reporting tools. In addition, the system provides several pre-defined batch process reports.
