EmpowerFA is a comprehensive asset management system deigned to give you complete control over each event in the life of your assets.

EmpowerFA increases your ability to manage your asset base by collecting a variety of information for each asset. In addition to basic asset ID and description, EmpowerFA records all information related to the purchase of the asset, the ways in which the asset is depreciated, where the asset is located, what groups it belongs to, how to account for all transactions that affect your financial statements, and what parameters are needed for insuring and/or budgeting to replace the asset.

Once the asset is recorded, EmpowerFA enables each asset to be depreciated within multiple books, such as BOOK, TAX or STATE reporting. Within each book, EmpowerFA supports a wide variety of depreciation methods, including Straight Line, MACRS and ACRS.

We also realize that to effectively manage your asset base you need to go beyond just recording and depreciating your assets. EmpowerFA's physical count module provides an efficient methodology to periodically count each asset and document the date of the physical count.

EmpowerFA’s ability to assign each asset to multiple groups means you can track the use of an asset in multiple ways.

Additional management information, such as replacement costs tied to industry specific indexes, means better control and management of all your assets.

Comprehensive Asset Information Leads to Better Management

Asset Profiles

Using a single window, EmpowerFA creates an electronic file containing a wide variety of information about each asset.

The General tab captures the asset ID, description and pertinent information about how the asset was acquired, including the acquisition date, manufacturer, model and serial number.

EmpowerFA’s Depreciation tab enables you to set up an unlimited number of depreciation books for each asset. In addition to standard depreciation calculations, EmpowerFA also supports calculations required for partial dispositions and adding value to an asset during the life of the asset.

The Location tab facilitates the physical counting of the asset, as well as providing information for supporting Property Tax calculations.

The Ledger Accounts tab captures all of the accounts used in posting journal entries for acquisition, depreciation, and disposition of the asset. By pre-defining the accounts, the accuracy of your journal entries are insured.

The Asset Groups tab is used to assign the asset to one of more user-defined groups. Having each asset available to multiple groups allows a single asset to be tracked in more than one way. For example and asset may be assigned to a computer equipment group, also listed under a maintenance contract and be assigned as collateral to a bank loan.

The Insurance/Replacement tab provides a way to calculate the true cost of replacing each asset, rather than relying on the more inaccurate net value of the asset.

Asset History

The comprehensive asset history feature of EmpowerFA ensures a wide range of reporting about each asset is always available. Each event from acquisition, to a change in location, a change in value, a change in depreciation method, to retirement, to the journal entries created by these transactions is maintained, even after the asset is disposed of.

Intuitive Inquiries

An important feature of EmpowerFA is the ease with which a user can obtain information to quickly answer commonly asked questions. All asset information is accessible through EmpowerFA’s many inquiries, the results of which can be printed at any time.

Physical Count

EmpowerFA's Physical Count module begins by creating worksheets by location for all or a selected sub-group of your assets. Once the worksheets are distributed and the asset information verified, the results are entered into EmpowerFA and an exception list of all assets not found is generated for your review. At that time, a more comprehensive effort is initiated to find the missing assets and then the final results are tallied. Upon completion of the physical count, EmpowerFA automatically updates each asset’s counted date and location.