Master Your Fixed-Asset Finances
Operational equipment and machinery gradually lose value over time, leading to increasing depreciation costs each financial period. Epicor's Asset Management, a key feature of Epicor Financials, offers a comprehensive solution to this challenge. By utilizing Asset Management, you can select and configure the most suitable depreciation method for each asset. This ensures that your assets are constantly updated with their true value, automating asset-related entries in the General Ledger and allowing for the generation of reliable financial reports with an accurate EBITDA.
Benefits Built for Finance Experts
Asset-intensive organizations greatly benefit from Epicor's Fixed Asset Management functionality, which seamlessly integrates with other modules within Epicor Financials. This includes purchases, maintenance, time and expense management, General Ledger, and Accounts Payable (AP) accounting. By consolidating all assets and activities within a single platform, finance experts can maintain precise financial control, saving significant time and effort.
Transactional Approach and Automation
Epicor Financials takes a transactional approach to handling asset activities, ensuring reliable and efficient processing of all transactions. Through automation, businesses can configure transaction processes to meet specific requirements. Customizable asset transactions, flexible posting engines, and workflow-based business process management provide solid asset control. Integration with over 1000 external online services allows for customization and desired outcomes.
Epicor Financials - Comprehensive Support
Epicor Financials offers robust global support for asset-intensive businesses, delivering cloud-based financial management solutions. With the ability to confidently run depreciation across multiple sites, companies, or countries, while utilizing currencies for accounting and reporting, Epicor Financials provides a versatile platform. Users benefit from language support, country-specific functionalities, and global business capabilities.
Multiple Depreciation Methods for Custom Solutions
Asset Management in Epicor Financials includes a range of preset depreciation methods such as straight-line, declining balance, fixed amount per period, and more. While these methods are primarily time or activity-based, custom formulas can also be created for unique depreciation requirements. This flexibility allows businesses to tailor their depreciation methods to suit their specific needs.
Streamlined Asset Acquisition and Inventory Management
With Epicor Financials, registering asset purchases is simplified through the integration with Accounts Payable (AP). Adding a new asset merely involves creating an AP invoice line for the asset, ensuring seamless recording and linking of vendor details, amounts, terms, invoices, and payments to the Asset Management module. This streamlined process reduces lead time for all stakeholders involved.
Efficient Asset Transactions and Inventory Control
In some scenarios, organizations may need to transfer inventory items to the Asset Management module. Epicor Financials allows serialized inventory items to be added as additional assets to the asset register, facilitating the generation and booking of asset transactions. This functionality streamlines inventory control processes and ensures accurate asset management.
Enhancing Field Service Asset Management
For businesses handling the sale and delivery of service assets, Epicor Field Service Management (FSM) along with the Service Management module automates the service process. By assisting in assigning the right technicians to the appropriate locations at the optimal times, FSM reduces billing delays and enhances the overall customer experience.
Contact Epicor for Tailored Solutions
If you are looking to optimize your fixed asset management and enhance profitability, Epicor ERP offers a comprehensive Asset Management solution. By leveraging the capabilities of Epicor Financials, businesses can achieve efficient asset control, reliable financial reporting, and seamless integration across various modules. Contact Epicor today to learn more about how Epicor Asset Management can benefit your organization.