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Fixed Assets Register
A complete fixed asset register and the key to your entire asset management solution. |
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Depreciation Options
Flexible configuration options for all fixed assets with a broad range of depreciation methods rates and types. |
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Finance & Operating Contracts
Makes you the expert in accounting for capital finance leases, hire purchase, chattel mortgages operating leases, tenancy leases and equity finance contracts. |
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CapEx Budgeting
Control the capital budgeting, planning and forecasting business process and monitor your performance in real-time. |
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CapEx Work in Progress
A complete CapEx process model using world's best-practice, from documentation of the project plan through to capitalisation. |
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Operating Expenditure
Manage purchase requisitioning and the capture of day to day operating expenditure, as it happens, where it happens. |
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A complete fixed asset register and the key to your entire asset management solution.
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The Activa Fixed Assets Register is a high-level, functionally rich, life-cycle, fixed assets software application. It is available as a stand-alone application or as the system core of the Activa Asset Management software solutions. It is presented here as a `best of breed` solution and has been specifically designed to;
- manage all types of property, plant and equipment
- know the costs of ownership of your assets
- improve information access and visibility
- seriously enhance business processes and audit trails
- simplify work-flows and tighten the reporting cycle
- comply with AIFRS and the ATO
Asset Records
Activa is the source and repository for a broad range of business intelligence relating to the acquisition, ownership, valuation, operation and disposition of the physical and investment assets of a business. It has the ability to cater for all asset ownership types; owned, finance leased, operating leased, hire purchase, property leases, loaned assets, work in progress and even assets held in trust. All of these individual ownership types coexist in the same database.
There is no practical limit to the number of individual asset records that can exist in a single database. This capacity is practically determined by the host hardware environment more than the Activa system itself.
Each asset record can maintain a very broad range of data elements and whilst a lot of these are for optional use, they include;
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Classification:
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Entity, Business line, Location, Activity, Cost Centre, Class and type, up to 8 levels .
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Record Identity:
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Unique Id, Name, Plant Identifier, Custodian, spatial references and number of units.
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Acquisition:
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Acquisition date and cost, Detailed Description, CapEx reference, Purchase Order number, Invoice Number and Supplier Name.
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Specification:
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Make, Model, Type, Series, Serial Number, etc
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License Details:
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Details and License number, Anniversary day and month
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Warranty:
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Warranty end date and documentation.
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Documentation:
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Unlimited capacity for storing related office documents.
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Event Alerts:
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System generated and user-specific alerts using email for critical events.
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Depreciation:
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Each depreciation book provides a separate purchase date and cost, depreciation method, rate and effective life. There is also provision for a residual-value, notional depreciation value and depreciation limit to be applied.
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Transaction History:
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All depreciation and journal transactions are retained for future reference or historical reporting. All modifications to the depreciation conditions for any book, transfer history, impairment adjustments, valuations, revaluations and disposal details are retained for the life of the asset on the system.
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There are other events not mentioned here that give rise to either specific transaction histories or audit entries and these are all directly accessible from the asset record or audit trail.
Data classification and its consequences
The flexible data structure in Activa is a tool to develop an information architecture that filters and indexes the content in a simple and highly visible way. This information architecture is constructed from simple building blocks into a multi-level hierarchy presented in a common tree form data model. It is used extensively throughout the application.
The tree structure hierarchy can be configured with from 3 up to 10 levels. There are very few specific rules for this process and it is the sheer degree of flexibility that produces designs that best suit your reporting needs. It need not directly mirror your chart of accounts, or your corporate organisation structure. It should use your local terminology and reflect the way that you manage your business. In many ways, it presents an ideal opportunity to sort things out and your success, or otherwise, in designing and building your data structure will determine the usefulness of the system generally.
Depreciation conditions
Activa systems are designed to be very flexible. Any individual system can be configured to operate one, two, three or more depreciation books. Each of these depreciation books can be configured from a wide choice of reporting date patterns, depreciation methods, depreciation rates and other special parameters to specifically reflect the precise characteristics of an accounting book, a tax book or some such similar requirements.
There is a broad range of depreciation parameters and methods to select from for both tax and accounting type depreciation books. Each depreciation book is further supported by a series of Asset Templates that can be configured to reflect the relevant depreciation conditions for any individual asset class or asset type in the system.
When adding an asset to the system, it is the combination of these precise properties that ensures that the system imposes and maintains consistency and compliance to internal policies, accounting standards and local tax legislation.
The structural design of our software permits us to make fast and efficient changes to program code when new depreciation methods are legislated or where variations to existing methods are adopted. These changes are distributed as part of the standard system maintenance and support arrangements and can be downloaded from the Activa e-Support website or requested on CD media.
Business processes
There are a substantial number of highly effective time-saving functions that greatly enhance the efficiency of asset related processes that are standard system options in the Activa asset register.
- data import and export
- mass editing
- depreciation adjustment tools
- valuations
- revaluations
- asset impairment adjustments
- transfers of single and bulk assets
- single and bulk asset splitting
Activa recognises that the ability to generate timely reports and journals is paramount in maintaining efficiency in periodic accounting and most particularly at year end. Users can develop and default their own report standards to ensure that the necessary information is timely and consistent. All report output can be directed to PDF or the Activa Report Analyser. Any Report Analyser report can be manipulated for user defined formating and exported to Excel spreadsheet without any further intermediate manipulation becoming necessary. Report types include;
- Depreciation
- Additions
- Disposals
- Transfers and transfer history
- Reconciliation
- Insurance and Valuation
- Revaluation and Revaluation History
- Inventory,Useful Life and Asset Profile
- Planned Obsolescence
- Future Depreciation Forecasting
- Bar code Auditing Exception Reporting
- Audit Trails
Compelling needs
There are events that arise during the life of a business for which the normal business processes that are built into production software are simply not designed. Often these are quite small tasks but occasionally they can be part of major corporate events; they are invariably accompanied by a compelling need on the part of the business concerned. Simple examples of these might be major data restructuring, or corporate acquisitions and divestments where the sheer number of transactions require specialised processes. These are usually far beyond the capabilities of simple transfers, additions and disposals. This is not the case for Activa.
During the past 20 years we have assisted our clients with numerous such events. Some significant examples to name but a few are;
- joint venture share acquisitions and divestments
- reconstruction of historical statutory and tax records
- privatisation of national airport infrastructure
- optimisation of unrealised capital gains for divestments
- unitising of refinery utility assets
- application of ACA tax consolidation adjustments
- major industrial divestments and restructuring
Interfacing to financials
Activa software was specifically designed with a GL Interface option to suit Oracle Financials, PeopleSoft, SAP, SunAccount, MBS Great Plains, Epicor and JD Edwards. It uses a combination of multi segment account strings and/or analysis codes to generate the appropriate GL strings formats and can even provide validation of the GL strings prior to interfacing. By its nature it has also been configured without modification to interface to CMS, FinanceOne, Pronto, Sage, AccPac, MFGPro, MIMS, Omrix Smart Move, Timberland and others, even MYOB.
There are two fundamental options when considering interfaces to financial systems; a transaction file import or an automatic update. The first works on the basis of creating a journal file formatted to suit the target system import requirements. The second uses customised SQL scripts to write journals directly to the target system relational database tables. Both methods, once configured, will operate effectively and without maintenance, only requiring attention when something is altered in the target system.
In the process we have designed a series of custom innovative tools to solve these and other tasks quickly and cost effectively. Rather than view each of these events as a discrete case we have engineered these tools into our software as permanent features and made them available either as part of the general specification or as a system option.
IFRS and governance
The underlying data structure in the fixed asset database provides a reliable and efficient basis for all of the fundamental transactions associated with the recognition, measurement, depreciation, impairment and disposal of property, plant and equipment according to international accounting standards. It also provides the information for statutory disclosures relating to impairment adjustments, depreciation and disposals and most particularly revaluation details, valuation methodologies and historical cost values. All data transactions are fully audited and can be scrutinised at any time.
Tax Compliance
Our historical emphasis on tax compliance means that we have a number of highly developed processes incorporated into our product that make it particularly unique. Apart from the fundamental prime cost and historical 150% Diminishing Value depreciation methods we incorporate the new 200% diminishing rate [Double Declining Balance], Low Value Asset Pooling, Section 43 Capital Works Allowance and the Section 40I Project Pooling method. There are also a number of maintained historical depreciation methods and procedures that have since been superseded or repealed, notably accelerated depreciations and balancing adjustments offset.
In addition to the common tax methods Activa automatically assesses the divestment of all assets for balancing adjustments and Capital Gains Tax liability producing the appropriate disposal outcomes. Another standard feature of all systems is the ability to generate the ATO Capital Allowances Schedule.
Review our system options to configure your ideal solution.
Whether you require a good fixed assets register or a complete asset management solution, Activa has the answer.
Contact us today to discuss your needs and arrange a software demonstration.
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Related Information
These notes are intended as a product brief and should not be read as the full specification of Activa software. If you have more specific questions please use the Search or FAQ options on this site. If you do not find what you are looking for on other pages of this site please complete a Contact Request noting your area of interest and we will respond by return.
The following documents are some of those that contain information directly related to the fixed asset register;
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