Fixed Asset Management System
Fixed Asset Management System is a vital business process, wherein it mainly focuses on helping you manage the lifespan of your assets. It creates an impact to the overall assets of the company. We help you develop you integrate your capabilities to manage your fixed assets. We help you control your fixed assets with just a few clicks.
Know the value of your company's fixed assets. From purchasing and selling the fixed asset to having multiple depreciation books as well as disposal, you are able to see the changes in value of what you own. Our fixed asset management system easily tracks the health of assets over time by having access to a history on all of your assets. Keep track of fixed assets by monitoring equipment and work orders and reviewing reports to spot trends can help you plan properly to reduce downtime and monitor costs
Transparent Fixed Asset Management
Accessible, complete and transparent purchase requests.
Customize every aspect of your Fixed Assets from data fields to approval workflows
Fewer Human Errors
Reduces the risk of fixed asset issues from inappropriate data input
Simplifies activities related to asset transfer, asset disposal, asset receiving, and asset depreciation
Fixed Asset Management System includes:
Fixed Asset Management
Be able to account for a fixed asset losing or gaining value using methods like straight-line, while being able to view easily the history of that fixed asset. Most of the transactions are recorded in submodules and they are reconciled with the fixed assets in real-time. Transactions that can be done directly in asset depreciation include different depreciation methods for asset categories. The main objective of this module is for the enterprise not to gain monitor cost and improve asset-acquisition, depreciation, and disposal information that’s automatically shared with the general ledger, accounts payable and purchasing.
The purpose of Asset Transfer includes the following:
Ensure secure access to asset information.. The team or individual that receives goods into stock when shipments arrive may well not be the same person that placed the order. If you’re only placing orders on the phone and not using Purchase Orders, then nobody really knows what you asked for.
Reduce equipment and asset downtime. Using Purchase Orders gives you a trail of invaluable information about your purchasing and cost cycles. Next time you have a meeting with a supplier to negotiate a discount or place a purchase order for the next season’s goods, you can go armed with the knowledge of exactly what you bought last year, what lines sold well, what you paid for them and how fast the supplier managed to deliver to you.
Asset Disposal primarily features the disposal of a fixed asset or its movement from one company or location to the next. RFQ allows you to issue a request to your vendor for a quote on a specific item or service. The Quotation is the official response from your vendor. The system will also propose the most favorable quote based on your entries from the Quotations (Lowest Bidder).
Fixed Asset Maintenance
Asset Depreciation is a sub module that captures all transactions and records maintenance and service expenses for a fixed asset as well as tracking insurance for it to make decisions on when to dispose or sell a fixed asset. Delivery dates and payment terms will be set and when transactions are posted in purchase order, then requisition will be updated with the items in real time. Transactions in purchase order include payment terms, delivery date, VAT, currency, and warehouse. The purchase order provides a comprehensive and fully integrated purchasing system. It allows combination of multiple receipts on a single invoice.