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The
better question is, "What's not new?"
That's right-this version is a complete rewrite
of the Fixed Asset system. The new system sports
a common interface and the same ease of use as our
flagship products, Fund Accounting and
Human Resources2.
Fixed Asset Inventory2
comes in two versions
to fit your requirements-Fixed Asset Inventory2
(FAI2) and Fixed Asset Inventory2+GASB
(FAI2+GASB). What's even better-the upgrade
from classic FAI to FAI2 comes at no
charge! There is a charge to upgrade to FAI2+GASB
but as you'll see below- you'll want to do that
only if you need depreciation and the specialized
GASB 34 reporting.
| New
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.
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- 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
- FAI2
has built in communication with a powerful
new laser scanner from Videx. This laser
scanner is easy to use, very durable
and can read the bar-code tag from a
variety of positions and angles, making
physical inventory a much easier process.
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-
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.
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| New
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 a snap. 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.
- GASB 34 requires that depreciation expense be
tracked by function. FAI2's "Where
Used" function does most
of the work for you, but allows the operator to
override the results if the asset is moved to
a new use.
- 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.
- The Capital Asset Note Disclosure required by
GASB 34 is a standard report within FAI2+GASB.
Just capitalize your assets and let the system take
over.
Note: FAI2+GASB requires a special
serial number. Please contact DataTeam to acquire
yours.
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