2018 Review of Acumatica Cloud ERP Fixed Asset Management

From the 2018 reviews of Fixed Asset Management systems.

Fixed Asset Management from Acumatica Cloud ERP is well suited for businesses of just about any size and can also be used by accounting professionals as well. Designed to integrate with Acumatica’s Financial Management Suite of Applications which includes GL, AP, AR, Cash Management, Deferred Revenue Accounting, Recurring Revenue Management and HR and Payroll modules, Fixed Asset Management also integrates with Acumatica’s Purchase Order module.

Acumatica is designed to be accessed via the web, with the product supporting all popular browsers. Mobile apps are also available for iOS and Android smart phones and tablets.

Any eligible purchases made in the AP or Purchase Order module will be displayed on screen, alerting users that the purchase may qualify as a fixed asset. Eligibility is determined during the product setup process.

Users can purchase a fixed asset using the Purchase Order module or the Accounts Payable module, easily changing the original account number to a fixed asset account number. Once the purchase is complete, users go to the Fixed Assets module to complete the asset conversion process, which includes assigning the purchase an asset class, while also establishing default depreciation detail. This process cuts down on data entry considerably, with users only needing to enter information once.

Acumatica’s Fixed Assets module supports multiple books and depreciation methods including ACRS, Modified ACRS, Straight-Line, Declining Balance, Sum-of-the-Years digits, Remaining Value, Flat Rate, Units of Products, and many others. Users can include different averaging conventions as well as useful life and recovery periods for each depreciation method.

Fixed Asset Management allows users to create multiple depreciation books that do not update the general ledger. A Fixed Asset Tool, included in the application allows users to make mass changes to several fixed assets at one time, including converting purchases to fixed assets, releasing fixed asset transactions and even generating a fixed asset calendar. The product easily handles multiple asset types, including property, leases, and rentals.

Fixed Asset Manager can automatically calculate gains or losses on asset sales, and the product also easily handles asset disposals, splits, and asset transfers.

Designed to integrate with other Acumatica Financial Management modules, Fixed Asset Manager also offers seamless integration with the Purchase Order module as well. Fixed Asset Management offers excellent reporting capability, with a wide variety of asset management reports available such as Asset Acquisitions, Asset Disposal, Asset Net Values, Future Projections, Depreciation Transactions, and Asset Balances. All reports offer complete drill-down capability, and users also have access to a variety of charts and graphs. All reports can be viewed on screen, exported to both Microsoft Word and Excel for further customization, or saved as an HTML file or PDF.

Help options are offered through a network of Acumatica business partners. During implementation, users will work directly with their business partner to ensure that the system is set up properly. A self-service portal is also available that provides all Acumatica users with access to a variety of resources including product downloads, a searchable knowledgebase, product documentation, and an opportunity to make product suggestions. Users also have access to a community forum and news and blogs. Training is available through Acumatica Open University or through various webinars. Both Standard and Premier support levels are available, with Premier support offering telephone support, unlimited support cases each year, and a professional services discount.

Acumatica ERP Cloud is a robust ERP system that offers complete financial management. The Fixed Asset Management module is designed to work in conjunction with the other modules available in the financial management suite of applications. Acumatica can be scaled up or down, depending on company size and need, making it well suited for businesses of any size. Companies can provide their accountant or CPA with easy access to the Fixed Asset module if desired. Pricing for the Fixed Asset Management module and other Acumatica modules is available upon request from a variety of local Acumatica partners.

2018 Acumatica Fixed Asset Management Rating – 4.75 Stars