New module in the PASS Core Banking System: Asset Accounting Made Easy

PASS has expanded its Core Banking Suite (CBS): Customers now also benefit from asset accounting. "We provide financial institutions with a powerful portfolio of functions that can be flexibly adapted to new business models. The module enables us to respond to customer requirements and to further expand the financial accounting core," says Holger Englert, Managing Director of PASS Banking Solutions.

With the new asset accounting system, the entire fixed assets of a financial institution can be recorded and depreciation can be calculated. It is both possible to manage several depreciation areas in parallel and to store different depreciation methods. Fixed assets can be created directly from the accounting book, depreciation and asset movements are automatically posted directly to the CBS financial accounting system. Depreciation can be carried out monthly or annually; future depreciation can be clearly displayed and printed.

Functions:

• Freely selectable depreciation periods

Rating:

• Tax

Depreciation types:

• Linear
• Degressive
• Special write-downs
• Low value assets
• Fixed assets without depreciation

Investment types:

• Planned / under construction
• Active
• Low value assets (LVA)

Movement types:

• Partial acquisitions
• Write-ups
• Partial exits
• LVA retirements

Evaluations:

• Register of assets
• Assets overview
• Assets analysis

Planning:

• Depreciation preview

The application is fully integrated into the CBS – thus an optimal symbiosis of invoice book (with/without sales tax) and financial accounting is achieved.