AiM™ Fixed Asset Software
Intelligence within Asset Management
AiM™ Fixed Asset Software Maintaining accurate, up-to-date fixed asset records has never been more important. Government regulation and an overall push toward greater fiscal transparency for organizations necessitates that fixed assets above a certain capitalization threshold be tracked from acquisition through disposal. AssetWorks understands that tracking these assets can be both time-consuming and challenging. However, the rewards for doing so can be great. Accurately tracking fixed assets helps to ensure accurate financial statements, discourages misuse and theft,
and can prove valuable in making sure an organization is properly insured. Developed and field tested by asset inventory professionals, AiM™ Fixed Asset Software (FAS) by AssetWorks is a powerful and flexible fixed asset solution for government, higher education, K-12 and commercial organizations. Whether you are in need of a new stand-alone system or interested in a user-friendly alternative to your current ERP fixed asset module, AiM FAS can meet your fixed asset management goals and requirements.
AiM FAS for Asset Accounting AiM FAS allows users to easily add new fixed assets, transfer assets among departments, funds, or locations, partially or fully dispose of assets, and generate a full range of compliant financial reports. With AiM FAS, fixed assets may be assigned to an unlimited number of departments and funds, allocated by percentage of the total cost.
User-Defined Asset Classes
With the ability to track and depreciate a fixed asset inventory based on user-defined asset classes, AiM FAS simplifies data entry of standard fixed assets while allowing individual overwrites for non-standard assets. AiM FAS users are able to define asset class defaults such as: useful life, capitalization threshold, and salvage value as a percentage of total asset cost.
An unlimited number of depreciation books can be customized, with separate financial reports being generated for each. AiM FAS users can define depreciation books by: asset class, depreciation method (straight line, various accelerated, or variable) or timing (first-of-month, mid-month, first-of-year, etc.). Through transactions, AiM FAS provides the flexibility to extend or shorten the useful life of an existing asset, perform asset value impairment, and mark-to-market changes, impacting the future depreciation schedule without disrupting prior depreciation expense reporting.
Users of AiM FAS have access to a complete, auditable history, tracking asset relocations and transfers among funds and departments by date and user. Asset disposal transactions (both full and partial) are also tracked in an auditable history table while disposed amounts are reconciled financially, including gain/loss for each associated depreciation book.
AiM FAS for Asset Reporting
AiM FAS offers users over 40 standard reports for accounting, inventory, and informational purposes. All AiM FAS reports are generated using BIRT, an open-source reporting tool with a number of options for output: BIRT report viewer, HTML, PDF, Excel spreadsheet, Word document, PowerPoint, Postscript or csv.
Accounting Reports AiM FAS accounting reports are GASB 34/35 compliant and can display results in both detail (asset line item) and summary formats. These reports include values such as total cost, depreciation expense, accumulated depreciation, book value, gain/loss, and period-over-period changes. When running reports, users can select any date range providing the flexibility to run year-and month-to-date reports for any defined depreciation book. All necessary entries and transactions are stored permanently and retrieved by date, so no end-of-period close-out process is required. Coupled with the date-range design of the reports, this also allows the user to project future data as well as run (or re-run) past or present reports.
AiM FAS offers users over 40 standard reports, including:
- Asset accounting reports
- Asset tracking reports
- Asset inventory reports
- Asset detail reports
In addition, users are able to use the open-source reporting tool, BIRT, to generate reports of their own.
Additional AiM FAS Reports
To assist AiM FAS users with the inventory reconciliation process, standard asset inventory and asset exception reports are available. In addition, asset detail reports provide a snapshot of all information recorded about a particular asset including a complete history. Users looking for information not available in the standard reports, can use the open-source reporting tool, BIRT, to generate reports of their own.
AiM FAS for Asset Inventory via AssetMobile and AiMport
By streamlining re-inventory workflow processes, AssetMobile provides users with an accurate and efficient means of reconciling data. Easy data capturing methods and full mobile database capabilities are the cornerstones of the AssetMobile software design. Pairing software functionality with smart hardware technology, AssetMobile users can import data directly from their AiM database to their AssetMobile device. With the flexibility to capture tags via barcode scanner, HF RFID, UHF RFID, as well as manual entry, conducting an inventory has never been easier. Using the mobile device, field information can be collected and existing assets verified. Once the fieldwork has been collected, or nightly as a backup, the re-inventory data is uploaded to the AiMport module in your AiM database where changes are displayed to be accepted by the user.
AssetWorks delivers industry-leading business solutions that help asset-and infrastructure- intensive organizations control capital and operating expenditures, reduce operational complexity, and manage regulatory and policy-driven risk. Leveraging a comprehensive portfolio of software and consulting solutions, we help organizations work more efficiently by improving access to shared asset data, promoting greater transparency across the organization, improving service delivery, maximizing asset availability and uptime and reducing total cost of ownership. Using the latest cloud and mobile computing technologies, our asset management solutions and domain expertise help organizations eliminate waste, redundancy, and inefficiency.
AssetWorks is a limited liability corporation and a portfolio company of the Constellation Software, Inc. group of companies which trades on the TSX under the ticker symbol CSU. As a publicly traded corporation, we are committed to promoting shareholder value by delivering quality work and solid financial results. These factors reinforce what has always been our corporate focus–putting quality first to ensure that profitability and growth will follow.