If you are using QAD’s Financial software and you are not using their Fixed Asset Module, perhaps it is time to reconsider this decision. This relatively inexpensive module offers your company the following:
· Multiple Books for Calculating Depreciation Expense including an integrated general ledger book. You can also support federal, state and other statutory books that require tracking.
· Integrated general ledger transactions for depreciation expense calculation and all asset movement transactions including additions, transfers and retirements.
· Asset tracking functionality which supports data fields for asset identification tags, asset custodians and asset inventories.
SOX section 404 and the like require the deployment appropriate internal control processes for the custody of assets. This reliable software tool eliminates the need other bolt on packages or spreadsheet records prone to breaking.
Andy Vitullo
Principal, Logan Consulting