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Fixed Asset Reporting

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The WolfePak Fixed Assets program is designed to help organize and manage depreciation entries. Once you enter details about your assets, the system can calculate the depreciation entries based on the information entered. Amounts can be changed to review the effect on the calculations, and optionally, the G/L entries can be automatically posted in the WolfePak G/L.

The system manages up to seven sets of books for depreciation entries. The first two, called G/L and TAX, are set up by default. This enables you to maintain separate calculations for federal taxes and internal books.

There are also 21 pre-defined classes, such as AUTOMOBILE or REALESTATE, which are used to categorize similar assets. These classes cover most accounting situations, but other classes can be added if needed.