Qbyte Financial supports an integrated fixed assets function that enables you to account for and manage your assets and calculate depreciation, depletion, amortization (DD&A), as well as impairment.

You can categorize assets into groups for DD&A calculations and perform the DD&A calculation using the following methods:

• Unit of Production

• Amortization

• Straight Line

• Declining Balance

The system calculates impairment of undeveloped properties with an annually revised experience factor at both the individual property level and aggregate basis level.

The Work in Progress (WIP) transfer process is part of the Fixed Assets accounting support provided by Qbyte Financial. This process includes:

Continuity codes are used to generate fixed asset continuity schedules detailing the additions, disposals and transfers during a fiscal period.  The Continuity Code Cross Reference further categorizes fixed assets into continuity code types.