WorthIT Fixed Assets

WorthIT Fixed Assets is a business reporting solution designed to facilitate efficient fixed assets management. According to the vendor, this software caters to various business sizes and is suitable for financial managers, accountants, asset managers, CFOs, and IT managers across different industries.

Key Features

Depreciation and Financial Reporting: The product offers support for popular depreciation methods or custom designs, allowing users to easily manage depreciation. According to the vendor, it enables the maintenance of multiple companies and profiles, tracks partial or whole disposals, and provides simulations for potential gain or loss on disposal. Users can also make adjustments and reversing entries, preview depreciation registers separately, and prepare automatic posting vouchers to their G/L account structure.

Extensive Built-in Security Features: The software includes administrative control over authorized users and access passwords, ensuring data security. The vendor claims that users can assign unique access and function/task permissions to each user and track the history of user activity, such as adding assets or changing asset details, for enhanced accountability.

Capital Expenditures and Budgeting: According to the vendor, the product allows users to project future depreciation charges and evaluate the impact of proposed investments on future costs. It also enables monitoring depreciation costs against budgets to identify potential problem areas and cost overruns.

Handy Executive and Management Tools: The software provides various tools for executives and managers. According to the vendor, users can gain valuable insights with financial inquiry, which allows them to view an asset's entire depreciation and financial history. The snapshot feature enables users to view asset highlights or drill down to transactional records. The software also offers insurance planning to analyze insured assets per policy for appropriate coverage. Users can plan resource availability and schedule downtime with maintenance scheduling using the Next Service Date feature. Additionally, the memo manager allows users to record free-form information and notes against any transaction.

Built-in Components: LOCATION: The software includes a location component to safeguard and track assets, minimizing potential losses. Users can identify current asset locations, capitalize or expense major moving and installation costs, trace movement history and duration, and track assets on-loan to employees.

Built-in Components: SERVICE: According to the vendor, the software provides a service component to monitor repair history, identify recurring service problems, and schedule preventative maintenance for major equipment. Users can assign assets to maintenance agreements, evaluate coverage, and capitalize major service costs for depreciation.

Built-in Components: FOLDER: The software includes a folder component to catalog distinctive assets. According to the vendor, users can list components and attributes, such as IT equipment, describe performance attributes and characteristics of special equipment, and locate and classify assets matching performance attributes for informed purchase decisions.

Built-in Components: TASK: The software offers a task component to monitor projects and constructed assets. Users can allocate costs by project, work-in-progress, and special activities. According to the vendor, the software allows users to keep a history of all transactions and maintain detailed work-in-progress records. Major costs can be capitalized for depreciation.