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DATA SHEET

SunSystems Fixed Assets Accounting

 

 

Enhance Asset Accounting Control

Take financial control of your organization’s assets with the SunSystems® Fixed Assets Accounting module. It fully integrates with SunSystems Accounting for streamlined financial processing. As transactions are entered into SunSystems to record asset acquisition or disposals, asset values and quantities are updated into the register accordingly.

SunSystems Fixed Assets Accounting supports multiple currencies and depreciation methods that can be recorded in different asset ledgers. In addition, depreciation methods can vary even within the same asset ledger, allowing you to account for local and taxation requirements in a single transaction.

Depreciation is calculated automatically using a wide range of depreciation methods, from simple straight line to fully table based, with options for accelerated and reduced depreciation, where permitted by local law. All asset transactions are posted to the unified ledger, impacting immediately on the register and the relevant profit and loss and balance sheet accounts.

By extending the use of SunSystems with Infor® Operating Services (OS) as the underlying technology platform, SunSystems users get a unified modern experience and the ability to store and retrieve asset related documents with Infor Document Management (IDM).

 SunSystems Cloud Can Transform the Finance Function

Innovate Faster

  • React to ever-evolving market changes and pursue new business opportunities, more quickly and cost-effectively 

Embrace Digital Transformation

  • Combine business processes with modern technology 

Simplify Compliance

  • Security and compliance updates can be pushed out automatically to the entire organization

Asset Details Recording

SunSystems Fixed Assets Accounting enables you to store a comprehensive set of attributes to effectively monitor and manage assets, including:

  • Asset codes combined with multiple analysis dimensions to facilitate analysis by category or location
  • Various transaction types, including additions, disposals, part disposals, enhancements, and depreciations
  • Multiple note records for each asset
  • Support for asset values such as gross, net, final, and accumulated depreciation

Multicurrency Processing

The fixed asset register allows you to maintain depreciation details for each asset in three currencies: transaction currency, base currency, and reporting currency.

The transaction currency can vary from one asset record to the next and can be maintained even when assets are physically located in different regions or countries.

Flexible Depreciation Methods

Different depreciation methods can be applied by asset type, according to business policies. SunSystems Fixed Asset Accounting supports the following depreciation types:

  • Straight line
  • Sum of digits
  • Declining balance
  • Manual
  • Table-based
  • From a specific day
  • Advanced and reduction (straight-line variants)

Depreciation timing allows you to apportion the depreciation calculated over the periods in the year using a predefined ratio.

Asset Budgets

Budgets can be set up to maintain different valuations for each asset, and different depreciation methods can be applied for budgeting, forecasting, and reporting purposes.

  • Analyze the effect of changing the depreciation method or life of an asset, or maintain a current cost valuation
  • Set up budget assets in a budget ledger; budget assets contain the same information as the actual assets, but are held in a separate budget ledger; a budget asset still contains all of the available static data (such as asset status, depreciation periods and posting accounts, gross value, accumulated depreciation, and net book value)
  • Include budget asset values in two currencies; you can define a budget asset that uses different depreciation methods and currencies to the equivalent actual asset; by specifying a particular asset within a budget ledger, you can maintain a second set of information on the asset alongside the actual information (such as for forecasting)
  • Assign up to 10 budget ledgers per business unit 

Asset Disposals

SunSystems Fixed Asset Accounting can automatically post the relevant profit and loss and balance sheet transactions, so you only need to enter the sale proceeds prior to disposal of an asset.

Asset disposal generates the relevant postings, reports the postings, and optionally removes the asset details after disposal at two levels:

  • Remove the asset code from the transaction
  • Remove the asset code from the transaction and delete the asset record, diary, and analysis information

Advanced Processing Features

SunSystems contains a number of advanced asset processing capabilities, including:

  • Quantity-based assets – Some items are capitalized on a bulk basis, with the total quantity treated as a single asset; keep a track of quantities acquired and disposed of, and related changes in values.
  • Analysis apportioning – Define asset subcodes or posting presets to apportion the total depreciation for an asset across different analysis codes (e.g. departments) using a predefined factor.
  • Asset revaluation – Calculate asset revaluation and meet the needs of most inflationary situations.
  • Flexible cleardown routines – Keep transaction details as long as needed.