2019 Review of Acumatica Cloud ERP Fixed Asset Management

Fixed asset items can be purchased in either the Purchase Order module or the Accounts Payable module. Once an item has been purchased, users can go to the Fixed Assets module, where they can complete the conversion process, including establishing an asset class and assigning the default depreciation schedule to the asset. This process eliminates the need to re-enter fixed assets as they’re purchased by only needing to enter the details one time.

Acumatica’s Fixed Assets Management module support multiple depreciation books, allowing users to manage books independent of the GL. A variety of depreciation methods are available as well, including ACRS, Modified ACRS, Straight-Line, Declining Balance, Sum-of-the-Years digits, Remaining Value, Flat Rate, Units of Products, along with several others. Users can also create depreciation schedules with a predefined method, averaging convention, useful economic life and recovery period.  

Fixed Asset Management supports multiple property types including owned property leases, rentals, and granted property as well as leased and rented assets. Users can also assign tax and reporting fiscal years that are independent of the company financial ledger. The product also includes a Fixed Asset Tool, which allows users to make changes for a large number of assets at a single time.  Users can also create both fixed asset classes as well as group assets and can easily generate a fixed asset calendar as needed. The product also automatically calculates gains and losses on asset sales, and also handles future projections and disposals as well.

Fixed Asset Management is part of Acumatica’s Financial Management Suite, and is designed to integrate with other Acumatica modules including GL, AR, AP, Cash Management, Currency Management, Tax Management, Deferred Revenue Accounting, and both Human Resources and Payroll Management modules, along with the Purchase Order module.  Solid reporting capability is available in the application, with asset management reports such as Asset Net Value, Asset Disposal, Future Projections, and Depreciation Transaction reports available. All reports offer drill-down capability, and users also have the ability to create corresponding charts and graphs. All Acumatica reports can be viewed on screen, exported to both Microsoft Word and Excel, or saved as an HTML file or PDF.

Product help is usually funneled to local partners, with these business partners handling everything from the initial product consultation to implementation and deployment. Acumatica does offer customer direct support as a backup to local support efforts, with three levels of product and technical support available including Standard Support, Premium Support, and Technical Support.  A Customer Portal is also available where users can access all product downloads, search the knowledgebase, and obtain product documentation. Various training options are also available through Acumatica Open University, with both pre-recorded and live webinars available as well. Telephone support is only available to those that purchase the Acumatica Premier Support plan.

Designed for those using other Acumatica applications, the Fixed Asset Management module is part of the Financial Management Suite, offering integration to other related modules in the suite. As an ERP cloud application, the product can be scaled up or down to fit the needs of businesses of just about any size, and companies using Acumatica can easily share module access with their accountant if desired.  Pricing for the Fixed Asset Management module, along with other Acumatica modules is available upon request from Acumatica and authorized partners.   

2019 Rating – 4.75 Stars