| Overview |
| The Fixed Assets Management System primarily helps you keep track record of the Assets of the Organisation and its whereabouts. The system at the same time enables you to calculate Depreciation and also enables you to find out the Cost, Accumulated Depreciation and WDV at the time of Sale of the Asset. |
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| Fixed Assets Management System can handle the following : |
| Classification of Assets : |
| Assets can be classified into groups e.g. Building, Plant & Machinery, etc. The same can be further classified into Sub Groups. For e.g. |
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| Group Code |
Plant & Machinery |
| Sub Groups |
Kitchen Equipment |
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Laundry Equipment |
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Allocation of the Asset :
Unit / Location / User Department / Responsible Department can be assigned to each asset for classification and analysis of the various assets and also for physical verification.
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Asset Details :
Cost, Purchase date, Installation date, can be entered into the system for all assets.
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Cost break-up for Purchases :
The details of cost break-up i.e. Basic Cost of the Asset, incidental costs like freight, cartage, custom duties, installation cost can be entered separately for your reference.
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Manufacturers / Suppliers details :
Manufacturers and Suppliers name & address along with Sales Tax Registration details can be entered in the system at the time of purchase & opening balance break-up.
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Depreciation Rates :
The rates of charging of depreciation can be set at the sub-group level. This serves as a template for defining the depreciation at the asset level.
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Depreciation Method :
Depreciation can be calculated on Straight Line Method (SLM) or Written Down Value Method (WDV).
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Shift wise depreciation :
There is a facility to charge depreciation for assets being utilised for multiple shifts. Depreciation rates can be defined separately for each such shift.
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Depreciation details available Year wise :
The system maintains depreciation records for each financial year separately. The year wise details of depreciation charged on an asset can be known at any point of time.
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Inter Group Purchase / Sales :
Inter-group Transfers of an Asset are monitored separately in the system. If an asset is purchased from inter-group unit, then accumulated depreciation for the same can also be entered, so .... |
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Do you have suggestions and remarks???
Please post them in the discussion forum..... |
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