Fixed Assets Made Easy

Form AssetAfter being at Escape for only a month, I was ecstatic to see the Escape resolution process come full circle. I came to Escape from the business office of a local school district.  Year after year, wrapping up fixed assets was an interesting adventure.  As an Escape user, it seemed to me that asset reports should provide a capital assets summary that would allow for an easy transfer of information into the SACS Form Asset and a quick summary of capital assets for the district’s financial auditors.

FA09 – Asset Annual Value Summary, looked like it should provide the needed information; however, it did not.  I contacted the district’s county Director of Integrated Fiscal Services for support and discussed my ideas with him and that is when the ball started rolling on some big changes for the FA09 report.   

During my first month at Escape, the FA09 report popped up on a Customer Care agenda and I had the opportunity to review the change request.  I saw the emails that went back and forth between the county, Customer Care, the Developer and the Testing Department (my original example was in the CR!).

Through an intense coordinated effort, the FA09 report was revamped and I am happy to report that last month Escape released big revisions for the FA09 report in the 3.12.04 SP2 patch bundle.  Beginning balances for the current year now match ending balances from the previous year and accumulated depreciation now calculates according to reporting guidelines.  The FA09 now summarizes capital asset data in a format that makes it an invaluable tool for SACS reporting and a district’s end of year audit.