KARAT | Information system KARAT | Modules description | Assets
Assets
The Assets module provides tools for maintaining fixed assets and expensed assets. The entire recording is supported by variety of nomenclatures which allows right and detailed assignment of assets, especially nomenclatures of depreciation groups, depreciation group items and nomenclature of standard classification of production. The Assets tab itself contains all assets information including the information needed for posting individual transactions. Consequently, in the extreme case it means that each tab can be posted differently. The depreciation tool is designed using variable formulas, i.e. in the case of accounting depreciation it is possible to define any depreciation progress starting with straight line depreciation, ending with jump depreciation. The system is supplied along with the formulas for tax depreciation calculations in conformity with currently valid legislature. Considering assets cost movements, the system controls exceeding the limit for technical evaluation in the current year and it may request for another technical evaluation process. The mass assets movements and extensive outputs over tabs themselves as well as over individual movements are standard functionality of the system.
- separate accounting and tax recordings of assets valuation, its balance and all movements
- recordings of accounting and tax depreciation in the intervals specified by a user
- entirely user defined methods of individual parts of assets depreciation user defined methodology of assets classification for accounting and tax purposes to depreciation classes of their items, CPA, and user defined sub classes
- tracing the assets to persons of entrustment, center and locations, that can be variable over the time
- recordings of all facts and statuses crucial for tax recordings of assets such as: retirement statuses
- depreciation interruption statuses
- early retirement statuses with net book value
- claim of depreciation items to income tax
- non-claim of tax expense and like
- resuming depreciation started at the previous owner
- documentation for road tax
- documentation for real estate tax
- documentation for real estate transfer
- recordings of other statuses for internal use:
- recordings of loans and mortgages
- recordings of leasing and rental
- recordings of reserve of accumulated depreciation and accumulated
- depreciation dates
- recordings of insurance policies
- recordings of loans
- recordings of investments, incremental assets acquisition and capital
- construction with the possibility of activation of investments to assets
- with calculation of acquisition cost
- recordings of special kind of assets and their subledger data
- lands
- real estates
- vehicles
- information systems
- machinery
- literature, etc., user defined recordings
- structured accounting statuses and movements of assets with the support of methodology
- accounting as well as tax aspects assets recordings accounting
Assets Module
- Recordings of fixed assets and expensed assets
- Assets files
- Assets operations
- Reinvestments
- Related recordings