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We are a bit confused. Can we track fixed assets in basic Acumatica? Or do we need to purchase the Fixed Asset Module to track fixed assets?
I would say it really depends on the type and volume of assets you have to determine if the FA module is worth it.
In Basic Acumatica there's nothing stopping you from doing manual journal entries to move purchases (expenses) to assets or do manual monthly depreciation/amortization calculations. This means that you are doing some of your asset tracking outside of Acumatica (i.e. in Excel or a 3rd party system). If you have the time and materials module, you could create your assets as "equipment" under configuration and this would give you the ability to track time for the equipment (i.e. if you are charging to a project) if this was something you required.
If you want to be able to automate that process then you will need the fixed asset module. With the FA module you can do the following tasks in a much more automated and easy to follow way, since all the transactions are linked back to the Asset ID
- Convert purchases into unique Asset IDs (so you can link these back to the PO/AP documents)
- Additions or Dispositions to existing Assets and Parent/Child Assets
- Track item statistics such as: purchase date, acquisition costs, location, manufacturer, serial numbers, etc.
- Set up and run automatically calculated amortization/depreciation
- Track multiple depreciation methods
Megan:
Thank you. Very helpful. I appreciate your answer.
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