Asset accounting software

the balance sheet reminds us every year that there is more to the accounting process than just current assets. After all, companies are also legally obliged to draw up their fixed assets and show them in an 'asset grid'. Between paragraphs and the determination of any values, errors quickly creep in. Many companies bring in specialists for the accounting also software support. One example is the software for asset accounting, which is also included in SAP Business One.

The general fixed assets of a company also include so-called 'durable assets'. If such a 'durable good' exceeds a certain value and is part of the performance process, it must be reported in the balance sheet and depreciated. This reduces the value of the balance sheet by the amount of depreciation recorded as an expense. This "depreciation for wear and tear", or AfA for short, can be determined using tables from the Federal Ministry of Finance. The values determined are recorded in an asset history sheet.

Versino Financial Suite for SAP Business One Finance

What does the asset accounting software do?

An asset accounting system helps to manage, book, value and list all assets.

In the software, every asset can be listed in a Plant map can be recorded. For example, the inventory number, the acquisition costs, the cost centre, the useful life and the type of depreciation can be noted here. It is also possible to attach documents or comments. The system determines the corresponding book value. Here it is advantageous if the software can already integrate the depreciation table (see info box).

With fixed asset accounting software, the company has the advantage of being able to Asset history sheet in different forms.
The structure in the software itself is based on balance sheet items. Items such as technical equipment and machinery are then noted on the asset cards.

It is also possible to use the software to create a Inventory list of fixed assets. Companies are legally obliged to draw up such lists every year.

Also advantageous is the use of asset accounting software if the values are to be compared with the accounting of the financial accounting are to be reconciled. The system can be used to quickly determine the values and, in the case of differences, to post items. It also makes sense to use financial accounting software in this context.

Also the Depreciation process (see info box) is integrated in good asset accounting. This automatically calculates posting runs at the close of the period for posting depreciation. Unscheduled depreciation is also integrated. The cost postings according to cost type, Cost units and dimensions. The values recorded for the fixed assets are included in the calculation and the depreciation entries for a period are thus determined directly.

In some programmes, the possibility is also integrated to view transactions on fixed asset accounts that have not been clearly assigned to a transaction. These can then be assigned manually.