Depreciation

Depreciation Module

Calculate, Manage,
Track  and Report
Fixed Asset Depreciation

CenterPoint Depreciation software provides small to medium sized municipalities all of the tools they need accurately track and report depreciation on all of their fixed assets.  The software is flexible enough to accommodate most any situation. 

Like Diversified Billing and CenterPoint Fund Accounting, Payroll, Purchase Orders and Permits, CenterPoint Depreciation, it is available as a Cloud-based subscription service or as a traditionally licensed software system for your LAN.  

Quote 1

β€œThe CenterPoint Depreciation module is so flexible."

Quote 2

"It allows multiple schedules ... Federal, State and book schedules. "

Quote 3

"Trades are a snap with two different methods, roll-in basis and continue to depreciate."

Quote 4

"The 5 year future depreciation report also aides our tax planning."

See How CenterPoint Depreciation Can Streamline Your Operation

Depreciation Highlights

Complete Fixed Asset Depreciation System
See How Fixed Assets Impact Financial Statements
Easily Manage Multiple Quantity Fixed Assets
Includes All Applicable IRS Tax Form Worksheets
Show Accurate Asset Values on Financial Statements

Key Features

System Functionality
Description
Project depreciation through the life of an asset.
Handle trades and disposals of fixed assets, including sales by quantity (make asset dispositions by quantity). For example, buy ten of the same assets, and sell only one or more of the quantity.
Historical and current depreciation methods.
Standalone system, or integrates seamlessly with CenterPoint Fund Accounting software.
Track depreciation expense by location or production center, and profit center.
Track an unlimited number of fixed assets.
Asset depreciation can be recorded, stored, and calculated for assistance with income tax returns and for help planning future asset purchases.
Produce all listed property and luxury auto calculations and limitations.
Stay current with depreciation tax law changes through ongoing updates.
Keep track of necessary information for your fixed assets such as serial number, creditor, service date and quantity.
Reports
Description
Generates reports that help you complete your depreciation related tax forms including IRS Forms: 4562 – Depreciation and Amortization, 4797 – Sales of Business Property, and 8824 – Like-Kind Exchanges.
Management schedules for accrual reports.
Choose from a wide selection of standard reports or customize the standard reports.
Depreciation Schedules
Description
Management schedules for accrual reports.
Calculate depreciation for multiple schedules on one asset: book, Federal, State, or Alternative Minimum Tax (AMT) etc.
Multi-year depreciation projection report to help make asset purchase decisions that maximize tax benefits.
Produces one year schedule with subtotals for asset categories and totals for current depreciation for the year. The calculations for all assets and the accumulated depreciation will help determine if adjustments to Section 179 expensing, SDA (Special Depreciation Allowance) or depreciation methods are required before completing your 4562 tax form.
Print a professional quality depreciation schedule.
Multiple depreciation schedules that are stored on each individual asset simultaneously.
Choose which schedule CenterPoint Accounting uses to adjust values. (For those using CenterPoint Accounting only.)
Tax Forms
Description
Create and print tax worksheet reports for all IRS tax forms including: 4562 – Depreciation and Amortization, 4797 – Sales of Business Property, and 8824 – Like-Kind Exchanges.
Automatically calculate tax preference amounts, prior-year depreciation, and gains and losses on asset sales.
Tracks yearly SDA and Section 179 limits.
Process compliance tests for Section 179 expense limitations, mid-quarter and half-year conventions, consistent SDA, listed property, SDA and others.
Tax schedules for your income taxes.

Screenshots

Fixed Assets
Fixed Assets

Maintain a record of every fixed asset in your organization along with depreciation schedules.

Fixed Assets
Monitor Activity
Report Activity

Monitor valuation changes for every fixed asset in your organization.

Fixed Asset Activity
Project Depreciation
Project Depreciation

Project depreciation over the next 5 years.

Depreciation Projection
Like Kind
Like Kind Exchange

Track like-kind asset exchanges.

Like Kind
Alt Min
Alt Min Depreciation

Calculate alternative minimum tax depreciation and compare to standard depreciation.

Alternative Minimum

See How CenterPoint Depreciation Can Streamline Your Operation