Overview

Fixed company assets such as vehicles, buildings, and equipment must be depreciated over a period of time. The EBMS Depreciation module allows the user to easily post the depreciation expense to general ledger on a regular basis. Applying asset depreciation costs on a monthly basis is an important management tool to properly manage the profitability of a company especially if the business owns a sizeable amount of fixed assets. The EBMS Depreciation module gives the user flexibility and ease of use when planning the depreciable schedules. A variety of depreciation methods are distributed with the software, although additional user-defined methods can be created as well.

Fixed asset information such as the vendor invoice, purchase information, and to-date depreciation details are recorded for each of the assets. A simple to use process creates monthly expense transactions and posts them to general ledger in literally seconds. The system will allow the user to properly manage a wide variety of depreciable assets such as rental items, company equipment, or intangible assets.

User-friendly wizards make purchasing, as well as selling or disposing assets, a simple process. Enter a general ledger account that is classified as a depreciable asset within the expense invoice and the system will lead you though the process to record and properly depreciate the new asset.

The following section, Depreciation Methods, should be discussed with a financial consultant, accountant, or EBMS consultant for the best available options for your business.