DataTeam Systems: Fund Accounting Software

Fixed Asset Inventory²
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Features in both FAI² and FAI²+GASB:

- Complete rewrite with new standard interface and navigation features.

- Process to convert data from FAI Classic is included in the software, or DataTeam can convert your data for you for a fee.

- Import from DataTeam Fund Accounting² is improved to bring over more information. Imported data goes into a special "holding bin" so the FAI² operator can determine if it really should be added to the FAI² records.

- Import from Other Sources is a powerful wizard that allows you to import from Excel or CSV files. Thus FAI² can integrate easily with any other accounting system! The system will update if it finds a matching tag number, and will add as new items if it does not. These items also go into a special holding bin for the FAI² operator to evaluate.

- The inventory cycle import is improved to update information. If you use a valuation company to take physical inventory-and they provide new replacement values-you can now update this information during inventory, or at any time

- Easy to use adjustments section can keep track of changes you make to your assets.

-With DataBridge you can easily synchronize certain fields like vendors and manufacturers with Fund Accounting², thus eliminating duplication of keystrokes.

Features only in FAI²+GASB:

- GASB 34 requires that assets be capitalized and depreciated over time to meet the specialized reporting requirements. FAI²+GASB makes calculating and managing depreciation simple. It automatically figures prior depreciation expense and accumulated depreciation, and can easily be made to tie to any depreciation numbers your auditor might have as a starting point.

- Depreciation is calculated using the methods and procedures recommended by ASBO International in their publication, Implementation Recommendation for School Districts, including the ability to depreciate by group of assets.

- Adjustments to cost, quantity, life or salvage - as well as disposals - are easily tracked in the system. Each adjustment automatically recalculates depreciation as necessary, and a complete audit trail is provided.

Note: FAI²+GASB requires a special serial number. Please contact DataTeam to acquire yours.

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