Tired of tracking prepaid insurance on a spreadsheet every month? The WolfePak fixed asset module does it automatically.
This solution add-on tracks and manages your depreciation and amortization of capital assets. Enter your asset details and the module calculates depreciation and amortization entries based on the data you enter.
Change amounts to review the effect on your calculations and choose to post G/L entries automatically in the WolfePak G/L. The system can manage up to seven sets of books for depreciation entries, with the first three, G/L, tax, and AMT maintained by WolfePak.
This lets you maintain separate calculations for federal taxes and internal books. The other four sets of books are user-defined and maintained. After reviewing the calculated depreciation, you can change amounts to review the effect on your calculations, and set the system to post these entries automatically to the general ledger.
Fixed assets also includes 30 pre-defined classes, such as automobile and real estate, to categorize similar assets based on IRS class codes. These classes cover most accounting situations, but WolfePak will add classes as necessary when you request maintenance of a specific IRS code (users can also define their own class codes to be maintained internally.
To see how WolfePak can help your growing business run leaner and faster, call us at (325) 677-1543 or contact us.