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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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| 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
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Plant & Machinery
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| Sub Groups |
Kitchen Equipment |
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Laundry Equipment |
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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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Cost, Purchase date, Installation date,
can be entered into the system for all
assets. |
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. |
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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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 can be calculated on
Straight Line Method (SLM) or Written
Down Value Method (WDV).
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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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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 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
that consolidation at the Head Office
becomes simplified. Similarly in the
Reports, the Inter Group transactions
are highlighted. |
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The system provides with additional
fields in which any extra information
required by the user in any transaction
module can be entered. |
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There is a routine to lock the current
year transactions after finalisation
of accounts. All the reports for the
current year have to be printed. On
running the routine the system transfers
the data to a new work area & allows
the new transactions for the next financial
year. |
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Data for multiple years get stored financial
year wise. Report for any financial
year can be generated & printed. |
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Depreciation can be processed any number
of times, for any given period within
the financial year. This is particularly
useful to generate quarterly depreciation
figures. |
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In the year of Purchase, there are various
options as to the date from which Depreciation
is to be charged. There are various
options like Date wise Pro-rating, from
Beginning of the Month of Purchase,
Full Year etc. User can select the date
from which depreciation is to be charged.
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Similarly, in the Year of Sale of an
Asset, the user can define whether Depreciation
is to be charged or not. If the same
is to be charged, then again there are
various options like beginning of month
of sale, end of previous month, full
year, etc. that can be opted by the
user. |
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Scrap value can be set for assets as
a percentage or as a fixed amount beyond
which depreciation will not be charged
for that asset. |
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Department wise Costing and Analysis:
Cost and Depreciation details can be
available individual asset wise, Department
wise, Location wise, Unit wise etc for
cost analysis. |
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Changes in Cost: At times there may
be a change in the Cost of an asset.
This cost can even change in a subsequent
financial year from the date of Purchase.
The reasons for such changes may be
due to foreign exchange fluctuation,
refund of taxes, etc. The System enables
the user to input increments or decrements
of Costs. The depreciation on the same
can also be calculated with effect from
the date the user wishes. |
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are 2 types of splits that the system
facilitates: |
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Here you can split an Asset Code having
more than 1 Quantity into different
asset codes. This split may be required
because at the time of purchase the
entire quantity of purchase was for
one department but later on some of
them are transferred to other departments.
For e.g. 5 chairs purchased for Rs.10,000/-
were used by Cafeteria but now 2 of
the chairs are to be transferred to
Security and 1 to Front office. So the
Asset Code can be split into 3 asset
codes, and their cost and accumulated
depreciation will be pro-rated in the
ratio of 2:2:1. |
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Here you can split one asset into multiple
assets spanning over different Group
codes. e.g. A Car along with a music
system was purchased for Rs 7,00,000/-.
The Car is now to be sold but the music
system is to be retained. Here the system
enables you to split the Asset into
two and assign the Cost and Accumulated
Depreciation breakups manually. |
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Physical verification of assets is a
very important objective. The system
can not only help keep a record of when
the asset was last verified, but can
also maintain the status of the Asset
at that time. So later on a report can
be taken out wherein you can see that
the Dot Matrix Printer is in a Not-Working
Status since 2 years and thus can be
scrapped.
The Physical Verification Lists can
also be printed out from the system
for circulation among the departments
and the same can be taken out either
User Department wise or Responsible
Department wise. |
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Asset code can be auto-generated from
the system. There is an option to even
generate the same on financial year
basis. This helps in easy identifications
of assets. For year 1998-1999, asset
code can be generated with the year
code prefix as 989900000000001
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Asset register gives complete details
of the asset with the organisation.
The report is any order wise report
giving Group wise Sub group wise asset
information along with purchase, sales,
increment and decrement details. |
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Gives a group total cost of all the
assets as per Schedule VI of the Company
Law.
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Gives you a detailed information about
the purchases made during the year
along with cost break - up manufacturers
/ suppliers name and address etc.
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The report can be created as per user
department, responsible department,
unit wise, location wise to give you
cost analysis as you require. |
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Gives you multiple year asset wise analysis
as to in which year the asset was purchased,
and what was the amount of depreciation
in the following years. |
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The system is interfaced with ALIF's
Back Office System to provide with manufacturers
/ suppliers name and addresses directly
from the back office system. |
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