FMIS Fixed Assets
FMIS Fixed Assets is a comprehensive asset management software designed to help you track, manage, and depreciate your organization's physical and intangible assets while ensuring full international accounting compliance.
NetLease
NetLease is a specialized lease accounting software built natively on NetSuite to help you automate compliance with ASC 842, IFRS 16, and GASB 87 standards effortlessly.
Quick Comparison
| Feature | FMIS Fixed Assets | NetLease |
|---|---|---|
| Website | fmis.com | netgain.tech |
| Pricing Model | Custom | Custom |
| Starting Price | Custom Pricing | Custom Pricing |
| FREE Trial | ✘ No free trial | ✘ No free trial |
| Free Plan | ✘ No free plan | ✘ No free plan |
| Product Demo | ✓ Request demo here | ✓ Request demo here |
| Deployment | ||
| Integrations | ||
| Target Users | ||
| Target Industries | ||
| Customer Count | 0 | 0 |
| Founded Year | 1982 | 2017 |
| Headquarters | Canterbury, UK | Boulder, USA |
Overview
FMIS Fixed Assets
FMIS Fixed Assets gives you total control over your organization's entire asset lifecycle, from initial procurement through to final disposal. You can eliminate manual spreadsheet errors by automating complex depreciation calculations across multiple books, including GAAP, IFRS, and local tax requirements. The platform provides a centralized register where you can track locations, custodians, and maintenance schedules in real-time.
You can easily manage high volumes of assets across different departments or global entities using a single, unified interface. The software scales to meet the needs of mid-market and enterprise organizations, particularly those in asset-intensive industries like manufacturing, healthcare, and education. By integrating directly with your existing ERP or finance system, you ensure that your balance sheets always reflect accurate, up-to-date asset values.
NetLease
NetLease is a dedicated lease accounting solution designed to simplify the complex transition to modern accounting standards like ASC 842 and IFRS 16. Because it is built natively on the NetSuite platform, you can manage your entire lease portfolio without ever leaving your primary ERP environment. This eliminates the need for manual data entry or external spreadsheets, ensuring your financial data remains synchronized and accurate across your organization.
You can automate the entire lease lifecycle from initial setup and right-of-use asset calculations to monthly journal entries and disclosure reporting. The software handles complex scenarios like lease modifications, terminations, and impairments automatically. By centralizing your lease data, you gain real-time visibility into your obligations and can generate audit-ready reports with a single click, saving your finance team hundreds of hours during year-end audits.
Overview
FMIS Fixed Assets Features
- Automated Depreciation Calculate depreciation automatically using various methods like straight-line or reducing balance to ensure your financial reports remain accurate.
- Multi-Currency Support Manage assets across global locations with support for multiple currencies and different international accounting standards in one system.
- Asset Tracking Monitor the physical location and status of your equipment using barcode or RFID scanning to prevent loss and theft.
- Maintenance Management Schedule regular servicing and track repair costs for your assets to extend their useful life and reduce unexpected downtime.
- Lease Accounting Stay compliant with IFRS 16 and ASC 842 standards by managing your leased assets and contracts within the same platform.
- Audit Trail Maintain a complete history of every change made to an asset record to simplify your internal and external audits.
NetLease Features
- Native NetSuite Integration. Manage all your leases directly inside NetSuite to ensure a single source of truth for your financial data.
- Automated Journal Entries. Generate monthly depreciation and interest expense entries automatically to keep your general ledger up to date without manual effort.
- Disclosure Reporting. Produce audit-ready disclosure reports for ASC 842 and IFRS 16 instantly to satisfy your internal and external auditors.
- Lease Modification Tools. Handle complex changes like renewals, terminations, or partial impairments with built-in wizards that recalculate schedules for you.
- Automated Payment Processing. Link your lease schedules directly to accounts payable to automate vendor payments and ensure you never miss a deadline.
- Document Management. Store original lease contracts and supporting documentation directly on the lease record for easy retrieval during audits.
Pricing Comparison
FMIS Fixed Assets Pricing
NetLease Pricing
Pros & Cons
FMIS Fixed Assets
Pros
- Handles complex multi-national depreciation requirements with ease
- Highly configurable to match specific industry workflows
- Excellent technical support during the implementation phase
- Seamless integration with major ERP systems like SAP and Oracle
Cons
- Interface feels dated compared to newer SaaS platforms
- Initial setup requires significant time for data migration
- Learning curve for users unfamiliar with advanced accounting
NetLease
Pros
- Eliminates manual data entry between systems
- Simplifies complex ASC 842 compliance tasks
- Provides real-time visibility into lease liabilities
- Reduces audit preparation time significantly
Cons
- Requires an existing NetSuite subscription
- Initial setup requires detailed lease data
- Custom pricing requires contacting sales