I F S

A P P L I C A T I O N S

IFS/Fixed Assets

IFS/Fixed Assets is a powerful tool with unlimited

possibilities for managing all types of fixed assets,
such as equipment, machines and buildings. It is
constructed to be flexible according to depreciation
methods and regulations worldwide and is completely
integrated with the IFS Financials system.
Whenever assets are purchased, depreciated, moved,
sold or scrapped, IFS/Fixed Assets keeps track of the
entire lifecycle. You can easily define additional
depreciation methods to cater for any set of circumstances. Create and manage an unlimited number of
books to create depreciation for various purposes.
IFS/Fixed Assets also offers ability to manually
modify acquisition values as well as accumulated
depreciation, with full tracability.
Information at your fingertips

IFS/Fixed Assets provides in-depth information about

assets, ranging from balances for structures to drill
down options to the originating transaction for detail
analysis. This includes:
Acquisition value
Unlimited number of user-defined values, such as
replacement, insurable or tax values
Depreciations, shown as year-to-date and accumulated, per book
Net book value, per book
Thru date for depreciations
Revenues or losses from disposals
Asset location

IFS/Fixed Assets is designed to integrate with other

modules in IFS Application. The basic element is the
asset, which is part of the multidimensional transaction
coding in IFS Financials. All accounting for the
acquisition of an asset in any module automatically
updates IFS/Fixed Assets with the acquisition value.
Each asset in an asset structure can be handled
individually and information can be aggregated at
any level. One asset can easily be split into several
assets and the new objects can be used freely in any
other asset structure.
IFS/Fixed Assets depreciation workflow starts with
the creation of depreciation proposals. You review
and adjust the proposals before acknowledging them
or allowing them to update fixed assets accounting. You
can cancel a proposal, partly or entirely, in addition
to removing one or several assets. Access privileges
are controlled by IFS/Security.
IFS/Fixed Assets supports International Accounting
Standards (IAS) requirements.

Computer

Keyboard

Mouse

Main asset

Screen

Asset

OBJECT STRUCTURES, MAIN OBJECTS, ALLOW YOU TO

AGGREGATE INFORMATION AT BOTH LEVELS

CPU

I F S

A P P L I C A T I O N S

IFS/Fixed AssetsFunctional overview

Set of rules

Depreciation workflow

The basic element in IFS/Fixed Assets is the object,

which is part of the multidimensional transaction
coding in IFS Financials.
Unlimited number of books can be created and
managed, e.g. for corporate/internal, tax or costing
purposes. For each book you define if it should
update IFS/General Ledger or IFS/Internal Ledger,
or only update Fixed Assets.
A number of pre-defined depreciation methods are
provided, but you can also define your own methods
for how depreciations should be calculated.
Use a variety of averaging conventions/starting
principles, beginning of year or period, half year
or middle of period and others. One of them
allows you to start depreciation at any given date.
Basic data is defined for each asset group to set
defaults for used books, depreciation methods,
estimated life and other important information.
The data can, of course, be overridden at the asset
level.
Multidimensional transaction coding and posting
control lets you allocate depreciation and other
events to different accounts, cost centers etc.

You can create proposals for depreciation according

to plan, calculated depreciation or any other
method defined by the user.
Proposals can apply to any asset, asset group,
book and time interval.
It is not possible to mistakenly omit a period.
You can print the proposals for review and adjust
them manually.
You decide when and if the proposal should be
approved to update fixed assets.

Acquisition and Disposal

Analysis

Project future depreciations for budgeting purposes.

A wide selection of standard reports for inventory
acquisitions, disposals and ledger information on
balance and transaction level.
A variety of queries to show balances, transactions
and other critical information.
Fully Integrated

IFS/Fixed Assets is an integrated part of IFS Application.

All relevant postings from other parts of the system
immediately update IFS/Fixed Assets, and
IFS/General Ledger and IFS/Internal Ledger can be
updated with relevant transactions from Fixed Assets.

En0602-2 Production: CMC, April 2004.

Supplier invoices, completion of projects and

manual vouchers automatically update the
acquisition value or additional acquisition
value.
When objects are sold or scrapped, IFS/Fixed
Assets calculates gain or loss and reverses
accumulated depreciation and acquisition
value.

OVERVIEW WINDOWS AND QUERIES ENABLE YOU TO TRACK ASSET

INFORMATION

THIS DOCUMENT MAY CONTAIN STATEMENTS OF POSSIBLE FUTURE FUNCTIONALITY FOR IFS SOFTWARE
PRODUCTS AND TECHNOLOGY. SUCH STATEMENTS OF FUTURE FUNCTIONALITY ARE FOR INFORMATION
PURPOSES ONLY AND SHOULD NOT BE INTERPRETED AS ANY COMMITMENT OR REPRESENTATION.
IF YOU NEED FURTHER INFORMATION, E-MAIL TO INFO@IFSWORLD.COM, CONTACT YOUR LOCAL IFS OFFICE OR VISIT OUR WEB SITE, WWW.IFSWORLD.COM.