Teams managing buildings, leasehold improvements and reviewed lease-asset schedules.
Teams managing buildings, leasehold improvements and reviewed lease-asset schedules. Fixed Asset Management gives the team a shared operating record for the work it owns. Separate land, improvements and lease assets according to the selected accounting policy. Retain useful-life and valuation evidence. Keep the operating or finance lease classification and the relevant source agreement visible to the reviewing accountant.
Agree the business entities, identifiers, source documents and responsible people before importing history. Keep the relationship between an old source reference and its new record so the team can investigate later questions without creating duplicate activity.
Assign preparation and review responsibilities explicitly. Protect restricted amounts, bank information and personal details through the underlying permissions. A shared spreadsheet or an emailed document does not expand the recipient’s access to the application.
Retain the original document, relevant date and reason for an exception. A later correction should explain what changed and preserve the earlier result. Where another system owns a posting or payment, keep its verified acknowledgment separate from the request sent to it.
Use the established records and process stages for routine work. Test a representative exception and a repeated command before enabling a schedule or connector. Preserve source identities during imports and keep unresolved external outcomes visible for reconciliation.
Select the authorized entity, time period and relevant business population. Reconcile the report to its supporting records before sharing it. Historical records should remain explainable after a person leaves, a default changes or a connection is replaced.
Give reports a clear basis
Bring the evidence with the work
Start with the operating model · Keep decisions with the right people · Configure repeat work carefully
Same records, same gates. The configuration changes how the process runs for this team.
Visible to: Controller / CFO. Visibility does not establish approval authority.
Approval conditions.
Cross-cost-center transfer approval waits for the controller / cfo.
Controller / CFO works within the record, field and action scope below.
Fixed Asset Accountant works within the record, field and action scope below.
Asset Custodian works within the record, field and action scope below.
Review asset exits and changes in value before affecting the books.
Prepare asset workpapers from reviewed books and effective tax rules.
Build a financial asset record from approved acquisition evidence.
Review depreciation by asset, accounting book and period.
Keep asset location and responsibility current through reviewed transfers.
Compare the register with assets found in the workplace.
Compare the frozen expected population with observed assets, approved resolutions and open investigations, retaining evidence for internal and external review.
Per period: opening cost, additions (new capitalizations), retirements, disposals, transfers, ending cost; opening accumulated depreciation, period depreciation, accumulated retired, ending accumulated; opening NBV, ending NBV. Drills by AssetCategory × Department × Location × individual FixedAsset. The Controller's monthly close artifact and the auditor's tie-out to the GL control account.
Per tax year per entity: Part I (Section 179) total and per-asset detail, Part II (Bonus / Special Depreciation) total, Part III (MACRS GDS by recovery period) totals, Part III (ADS) totals, Part V (Listed Property — vehicles), Part VI (Amortization). The workpaper that reconciles to the filed return.
Click Start now to create your ERP.AI account, then use Proto to configure asset categories, employees, books and general-ledger mappings. Reconcile your opening register and review an acquisition, depreciation run and transfer before routine processing.
Related questionYes. The same asset can have separate financial and tax books with distinct basis, methods and effective rules. A tax deduction does not automatically change financial carrying value. Only the designated financial book proposes the relevant general-ledger posting.
Related questionYes. Preserve the proposed destination, custodian and effective date for review. An approved future transfer changes the current assignment when its effective date arrives, while earlier count snapshots and movement history retain their original context.
Related questionGive custodians their permitted count and assignment scope. They can record observations and attest responsibility while acquisition costs, tax amounts and other financial details remain protected through the underlying permissions.
Related questionThose classifications require different reviewed measurement and expense treatment. Keep the agreement and policy version with the lease records and configure the appropriate schedule. A generic asset-depreciation run cannot substitute for both classifications.
Related questionUse reviewed tax-rule versions for the entity, year and applicable asset cohort, with independently reviewed elections. Workpapers trace back to tax books and schedules. A generated Form 4562 snapshot is preparation material; any recorded filing needs its separate external evidence.
Related questionPlants tracking machinery, production equipment and capital improvements.
Organizations maintaining computer, furniture and office-equipment registers.
Teams managing buildings, leasehold improvements and reviewed lease-asset schedules.
