FIXED ASSETS

FEATURES AND BENEFITS
  • Automatic interface to host g/l for monthly depreciation
  • Capability to sell, trade, junk or transfer assets between branches and departments
  • Reports available by classification and location
  • Depreciation forecast report for budgeting
  • Reports of current year acquisitions and deletions
  • Supports Internal, Federal, State, and AMT accounting
  • User defined reporting with export to Excel or Adobe PDF
  
Fixed Assets brochure in .pdf format (for printing) Fixed Assets brochure in .jpg format (for quick viewing)

John Bowen, CFO

"As an accounting executive of a financial institution, it was my responsibility to review the processes within our organization to ensure that each task was performed in the most efficient way possible with an eye on how it either helped in cost control or revenue enhancement. BankTEL’s Fixed Asset accounting system is perfect for fulfilling both tasks.

                                                       

A fully automated system with easy asset entry screens makes adding assets a snap. All entries from deleting an asset to monthly depreciation can be interfaced directly to your core system, eliminating the need to rekey information. The tax calculation is performed automatically once you select the asset's life and method of depreciation. At year, end simply supply your outside accounting staff the federal tax forms 4562 (Depreciation & Amortization) which eliminates the costly rekeying and calculation of tax depreciation by that outside accounting firm.

 

It offers a wide range of reports for BOOK, FEDERAL, AMT and STATE tax which will better enable you to manage your asset expenses on a monthly basis thereby eliminating the need for large adjustments at year-end. If security of your data is important to you then you will appreciate the audit reports that detail each and every change to your assets. Not only will the system tell you who changed the assets but also what was changed and when it was changed.

 

I urge you to take a couple of minutes to speak with one of our knowledgeable staff to explore how BankTEL Fixed Asset accounting system can improve your financial institution processes."

 

- John Bowen, CPA, CFP