Complete Asset Tracking and Financial Processing for All Asset Types

A Comprehensive Asset Ledger With Automated Retirement Processing and Depreciation Calculations and Analysis.

PowerPlan’s Asset Accounting system delivers a Continuing Property Ledger (CPR) that supports all types of location and property structures and maintains a full audit trail for all property, plant and equipment transactions. The CPR maintains customer-defined cost breakdowns that enable summarization at each level of detail. In addition, the CPR links directly into the book depreciation ledger, creates all necessary tax and ledger entries, and maintains multiple sets of books for each asset.

Asset Accounting automates the entire retirement workflow, from asset creation (recording at property unit detail) through disposal (retiring old asset and accounting for cost of removal). Many different retirement methods are supported (including mortality curves) and rules are configurable. In addition, PowerPlan includes ARO functionality that governs the entire ARO lifecycle and meets standard accounting and regulatory requirements.

PowerPlan automatically calculates book depreciation using various methodologies while maintaining balances for GAAP, IFRS, and regulatory jurisdictions. It supports individual asset and group asset deprecation and segregates depreciation by locations, vintages, or other breakdowns. It creates all necessary accounting entries for the general ledger. Asset Accounting also includes robust depreciation forecasting features that inherit actual methods, rates, balances, while also incorporating key information from Budgeting like asset additions, salvage, and cost of removal. Forecasts are made over any number of years and can include system-generated retirements and estimated changes to depreciation methodology.

To learn how PowerPlan Asset Accounting can help reduce compliance risk, improve cash flow, and provide effective operational cost management, contact us at +1 770.859.0402 or at info@powerplan.com.