Asset Management is an optional application and comprehensive application to inventory, manage, track, analyze, report, and depreciate fixed and moveable equipment. Tied to the INSITE Space Management System, equipment can be tracked by location and displayed graphically on the integrated Net-FM floor plan system. A host of additional related data can be tracked, including: procurement, useful life, value, and disposal. Asset Management includes a sophisticated nomenclature capability for consistent and compliant equipment classification, an accounting module to track asset budgets and chart of accounts, and a flexible capability for the calculation of depreciation and use allowance.
INSITE Asset Management has built-in business rules for full compliance with federal regulatory agencies and their respective regulations, including OMB Circulars A-81 and GASB 34 accounting principles.
Key features include:
- Track a host of data items for each asset: tag or barcode number, make, model and manufacturer, vendors, useful life, acquisition and disposal dates, ownership, useful life, disposition and many, many more including numerous additional user-defined fields
- Assets can be located in / assigned to space, thus tying them with Space Management and tracking where they are
- Highly structured Classification and Naming structure for all equipment
- Using the optional Reconciler capability, quickly gather the asset inventory detail in the field and compare to current information in your database
- Associate funding account(s), funding type, amount, date of acquisition, net book value
- With the optional Depreciation capability, calculate and manage capital depreciation of equipment and current values for insurance and disposal purposes
- Choose between multiple depreciation methods