Fixed Assets Masters

Fixed asset masters are classified into asset location, asset group, asset sub groups and asset master

Fixed Assets Masters – Locations

Fixed asset location defines a space, purpose and responsible contact person communication details

Fixed Assets Masters – Group & Sub Group

Grouping of asset into main and sub group, this helps in classifying assets for better understanding. Option is available to even classify a particular group of asset as non depreciatable.

Fixed Assets Masters – Asset Creation

Fixed assets are grouped or classified under main and sub group.

Fixed Assets Masters – Asset Master

Fixed assets are grouped or classified under main and sub group.

Fixed Assets Insurance & Other Renewals

Insurance plays a key during incidents or accidents, renewal of assets on time will benefit organization. Insurance for assets can be taken for a single or a group.

Fixed Assets Insurance

Reminder to renew insurance can be set on “Remind Me Before X Days”

Fixed Assets Other Renewals

Reminder to renew insurance can be set on “Remind Me Before X Days”

Fixed Assets Insurance & Other Renewals

Interesting in either of the reports is, based on the set reminder dates, assets are listed for renewal reminder

Fixed Assets Revaluation

Revaluation of asset, assets can be revaluated after a period of time based on its current market value. Gain or loss due to this transaction is recorded in “Net Gain / Loss Acc.”

Fixed Assets Depreciation

Depreciation calculation is presented to accommodate based on blocks and its depreciation effects are calculated for a given financial year and method of depreciation. Effects of depreciation calculation is posted to finance as per accounts linked in asset master.

Fixed Assets Reconciliation

Reconciliation helps in counting assets which are depreciated but high in volume. Such assets are noted and actual qty are recorded.

Fixed Assets Value Addition

Value of asset is said to be added when an asset gets a new item or a new item which makes the asset robust, for example : automation device on a machine, then value of the machine increases.

Fixed Assets Request

Assets which are movable can change location due to reason which is mentioned as “Request Type”. If an asset is returnable with defined dates, “Returnable Due Date” helps in reminding.

Fixed Assets Disposal

Asset are disposed and recorded which affects asset quantity and financial accounting, party information and his mode of payment is recorded too.

Fixed Assets – MIS Reports

Above reports provide information on asset located and person responsible of the asset.