The Fixed Assets module is the solution for managing all operations related to the depreciation of fixed assets of your company, in a flexible and customizable way, according to your needs. Fully integrated with Financials and Forecast Accounting modules, Fixed Assets simplifies your work thanks to the use of automatic procedures and customized transactions. It also provides you with utmost control over operations through the use of reports and simulations.

MORE DEPRECIATION REGIMES

According to local law requirements, you can manage three depreciation regimes that are independent one from the others. Fiscal depreciation allows you to comply with the obligations imposed by tax legislation of some Countries about operations divided between tangible and intangible fixed assets. Balance sheet depreciation regime calculates for you the rates on the actual use of assets, according to local law requirements. With financial depreciation you can manage the taxation of freely transferable assets.

FIXED ASSET CATEGORIES

The Fixed Assets module allows you to group fixed assets into homogeneous reasons which are fully customizable according to your needs. In fact, you can set standard depreciation criteria for each category and subsequently adjust those of each asset. Furthermore, you can easily manage integral depreciation for fixed assets and the depreciation of partially deductible assets.

CUSTOMIZED TRANSACTIONS

With Mago4, you can easily post operations on each fixed asset using proper reasons, that you can customize as you prefer. A large number of ready filled-in reasons are included in the module, to be used for the posting of the most common fixed asset transactions.

INTEGRATION WITH FINANCIALS MODULE

Thanks to integration with the Financials module, you can enter fixed assets even quicker while posting the received invoice in an accounting entry. Concerning the calculation of depreciation and disposal procedures, the Fixed Assets module provides you with automatic procedures that generate fully customizable accounting entries.

SIMULATIONS

A preview of depreciation quotas can be required at any time, and in the most useful way for you. Simulations may refer to a single fixed asset depreciation plan, as well as to a preview of the fixed assets journal, in order to check quotas due at a certain date. It is also possible to evaluate in advance the incidence of depreciation quotas on the final company balance, by using the automatic posting of forecast entries in order to get simulated balances.

DISPOSAL

Mago4 the sale or scrapping of a fixed asset, even if partial, is fully managed by the disposal procedure, that makes provisions to reverse fixed asset values, to calculate capital gains and losses, to generate accounting entries.

FIXED ASSETS MAINTENANCE CHARGES

According to current legislation, not all kind of maintenance charges are deductible in the year in which they are incurred, and their provision for the following tax years is necessary Mago4 provides you with detailed information concerning fixed assets and different categories and its specific report quickly calculates both the deductible amount as well as the amount of the surplus, making the accountants’ job much easier.

REPORTING

The Fixed Assets module provides you with a large number of reports, very useful for maximum control over all transactions. Verifying posted information concerning fixed assets, simulating the depreciation quotas, calculating deductible amounts, preparing the balance sheet note, printing the fixed assets journal is even simpler with Mago4.