2017 Review of Acumatica Fixed Asset Management

Acumatica Cloud ERP
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From the 2017 review of asset management systems.

Fixed Asset Management, from Acumatica Cloud ERP is well-suited for small to mid-sized businesses that need to track assets in-house.  The product can also be utilized by professional accountants, and businesses using the product can easily provide their accountant with access to the application, through role-based permissions.  The Fixed Asset Management module is part of the Financial Suite of applications and is designed to work in conjunction with other Acumatica Financial modules.  Along with Fixed Asset Management, Acumatica also offers GL, AR, AP, Cash Management, Tax Management, Project Accounting, Inter-Company Accounting, and Payroll modules.   

Fixed Asset Management, like all Acumatica modules, is designed to be delivered via the web, with users able to access the application from multiple browsers. An advanced mobile app with responsive design is also available for iOS and Android tablet and smart phone users.

Designed to work in conjunction with the core financial management product, Fixed Asset Management offers easy integration with related modules; thus allowing users to easily convert any purchase made directly to a fixed asset.  Any eligible purchases, with eligibility determined based on information entered during product setup, will be automatically displayed on screen.  This means that asset information need only be entered one time, since the data is shared across all modules. Fixed Asset Management supports multiple asset types including

Fixed Asset Management supports multiple books, and the product also offers multiple 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. Fixed Asset Management includes a large inventory of pre-defined depreciation schedules, or users can create custom schedules to better suit their needs. 

Users can track a variety of details in Fixed Asset Management, including multiple locations.  Users can easily attach a GL account to each asset, track and manage usage, and view a detailed depreciation history as well as a transaction history. Additional components can also be added to the original asset and depreciated as one asset instead of separately.

Acumatica automatically calculates any gain or loss on the sale of any asset and easily handles asset disposals as well as asset splits and transfers.

Acumatica is a completely integrated system, so the Fixed Asset Management module works in conjunction with other modules in the financial product suite, as well as other product applications. 

Acumatica offers an excellent selection of reports, including Asset Reports, Asset Disposals, Asset Balances, and Asset Net Values, along with a variety of depreciation reports.  All reports offer drill-down capability, and users also have access through Microsoft Power BI integration to a variety of dashboards and graphs that expand reporting capability. Users can choose to access the pre-defined reports or simply create a custom report if necessary. All Acumatica reports are easily viewed on screen, exported to Microsoft Word and Excel, or saved as an HTML file or PDF. 

All users are provided with access to the Acumatica Customer Portal, which offers access to the product knowledgebase, Acumatica Open University, the Community Forums, and the product improvement option, where users can weigh in on features or functionality they’d like to see added to the product.  Acumatica Premier Customer Support is also available, and offers access to Chat Support, Unlimited Technical Support Cases, After-Hours and Emergency Support, Priority Queue Status, and other discounts on other Acumatica products and services in addition to the features available in the Customer Portal. 

Acumatica is sold only through a worldwide channel of local partners, with the partner handling initial sales, planning, and training and support options.

Acumatica is a comprehensive accounting and financial management application that offers numerous solutions for businesses of all sizes.  Accounting professionals can easily access the product with a password assigned by their client in order to handle any asset or depreciation management functions.  Pricing for Acumatica is consumption-based, depending on the platform, the deployment method, and the modules used, and is available upon request from Acumatica or their local partners.   

2017 Overall Rating – 4.75 Stars

 

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