Is there an option for listing personal property, used for business, and business property in CETEC? The state’s requirement is anything used in the business, desk, chair, software, consumables, etc is required to be disclosed with the appropriate depreciation schedule. These are tangible items (assets) only to run the business and not to be sold.
Hi @StrutWipe
Yes, Cetec ERP can handle this. The system has a Tools module where you can list out all business property, whether it’s owned by the company or personally owned but used in the business. You can create a record for each item (desks, chairs, computers, machines, or software) and capture details like purchase cost, date acquired, type, and ownership. This makes it easy to keep one central list of everything your state requires you to disclose.
Cetec also has a built-in depreciation tool. For each asset, you can set the cost, salvage value, and choose a monthly or yearly schedule. The system will then automatically post the depreciation to the right accounts in your general ledger (as long as you have them mapped appropriately). That way your books stay accurate without extra manual entries. Even things like software can be tracked and amortized this way.
When it’s time to report, you can filter your asset list by ownership or type and export it to Excel/CSV. That gives you a ready-made file to use for state property tax filings or audits. If you ever build equipment in-house, Cetec can also move those costs into your fixed asset list so they’re properly tracked and depreciated.
- Cetec ERP Support
Thank you for your reply. This is excellent news. Please note that we have just begun our implementation phase of this project and being a new user, I am still learning how Cetec works. Is there a video for this topic? If not, any “how to” document(s)?