Fixed Asset Report

The following reports make up the fixed asset reporting

Rental Inventory Value

This reports the value of your inventory based on quantity, purchase prices, and depreciated value or in the case of sale items, the cost of each of them. The report will list, for each item, the item key number name, purchase date, quantity ordered purchase prices, and extended cost. The total values will be printed at the end of each category list. The grand totals for the entire inventory will be printed at the end of the report.

Yearly Inventory Value

This reports the value of your inventory based on quantity, purchase price, and depreciated value or in the case of sale items, the cost of each item. The report will list for each item, the item key, number, name, purchase date, purchase order, quantity ordered, quantity sold, quantity on hand, purchase price, extended cost, and extra charges. The total values will be printed at the end of each category list. The grand totals for the entire inventory will be printed at the end of the report.

Sold Asset Report

This report lists rental asset items that were sold during a certain period. First, you will be asked to enter the beginning date then the ending date to be used for selecting sold rental items. Any rental items that were sold during that time will print on the report.

Sale Transfers to Rental

This reports the value of your sales inventory that was transferred to the rental inventory for the time period you select. The report will list, for each item, the item number, name, quantity price, extra charges, and the total change in sales and rental inventory.

Item Purchase History

This report shows the purchase history of your inventory. The report will list for each item, the item key, number, purchase date, purchase order, quantity ordered, quantity sold, quantity on hand, purchase price, extended cost, and extra charges.

Depreciation Report

The Depreciation Report shows the current and total depreciation for your inventory. The depreciated value is updated at the end of each month and is only valid for items that are checked the box “Capitalized”, have the depreciation method defined, and contain the purchase price, purchase date, and depreciation years in the item record.

Capitalized Only – by checking the box, the report will only include items that are checked as “Capitalized” in the item record.

Category – this button allows you to select a particular item category to be reported.

Print Details/Pricing Summary – this option allows you to print a detailed report or just a summary. With Print Summary checked, only the totals for each account number will be displayed. With Print Details checked, each item’s depreciation information will be printed.

Current Month – Checked this box to print the report for the current month. If you want to print it for some other period, uncheck this and select the desired months and years.

Begin Date – these options set the beginning date of the report

End Date – this option sets the end date of the report

Sort- the report is sorted by Account Number as defined in the GL Account # field in each item record. Within each Account Number, you can choose whether it is sorted by item key, name, number, or purchase date.

Purchase Date – this option allows you to define a beginning purchase date and an ending purchase date to be reported.

Store – for multi-store systems, an individual store or all stores can be included in the report.

Select Printer – allows you to set the printer for the report to print.

Cancel – this button will generate the report and display for report

Generate – this button will generate the report and display the report on your screen.

Capitalized Equipment Listing

This report will show all the equipment that was purchased between dates you select, and group them in capitalized or bulk.  

Section 179

Overview:  Allows a rental store to depreciate the full purchase price of qualifying purchases during the tax year. It is highly recommended that you consult a tax accountant or CPA.

*Note – Section 179 Deduction, as of 1/1/2016, will be permanent at the $500,000 level. Businesses exceeding a total of $2 million in purchases in qualifying purchases have the Section 179 deduction phase-out dollar-for-dollar and eliminated above $2.5 million. Consult your tax accountant.

50% Bonus Depreciation - Businesses of all sizes will be able to depreciate 50 percent of the cost of qualified purchases acquired and put in service during 2015, 2016, and 2017. Then bonus depreciation will phase down to 40 percent in 2018 and 30 percent in 2019.

Purchase Year – From the drop-down menu, you can select the current or previous year.

Capitalized Items Only – Checking the box will only list inventory items marked as capitalized, un-checking with show both capitalize and non-capitalized items.

Serialized Items Only – Checking the box will only list serialized inventory items only

Total Depreciation - This allows you to add an additional or bonus depreciation to be allocated to an individual item or all items.

* Note – The total amount allowed for section 179 deduction is $500,000, if your equipment value is less than $500,000 then the total value will be fully allocated.

Auto Allocation - When selected will take the amount listed in the total depreciation and allocate it to the highest dollar value first, then break up the amount among the lower dollar values.

                          Ex. If allocating $50.00 bonus depreciation, it will first try to allocate to the highest dollar value of $50.00 instead of 10 items at $ 5.00.

Include – When the button is selected, the amount entered in the total depreciation will be allocated to all items. Unchecked will allow you to manually select the inventory item you want to allocate the amounts.

Key – Key of the inventory item

Name – Name of the inventory item

Category – Category based on a category listed in file maintenance, item record.

Quantity – Quantity owned

Date – Date item was purchased.

Price – Purchase price of the inventory item.

Current Extra Depreciation – This will list any extra depreciation associated with the inventory item or items.

Include – Checking the box will select all inventory items and list their purchase value under the allocated and remaining balance. If less than $500,000 the total amount can be depreciated. Un-checking the box will allow you to manually select the inventory item for depreciation or to allocate extra depreciation.

New Extra Depreciation – This will list any new or extra depreciation allocated to the inventory item or items.

Clear Changes – The will allow you to clear your changes.

Save – This allows you to save your changes made in the module.

Finalize – Will finalize any changes made within the section 179 Depreciation module.

Once Finalized is clicked the items will be allocated with Section 179 Depreciation you have entered,

Then you are prompted to recompute depreciation either at a specific date or recomputed all historical history depreciation. 

In the Item Record, it will show as fully depreciated