- The system allows recording a complete record of Fixed Assets data such as the asset code, name, description, original value, supplier code, purchase date, current value, location, and cost center.
- The system also allows recording all asset depreciation data such as the depreciation method, depreciation percentage, lifespan, salvage value, and depreciation starting date.
- The system allows dividing fixed assets into several types and groups.
- The system processes all asset transactions such as depreciation, total exclusion, partial exclusion, rehabilitation, capital increase, capital decrease, sale, .... etc.
- The system calculates the depreciation of fixed assets using the straight-line method, double declining balance method, or operating hours method.
- The system calculates monthly or annual depreciation, and automatically creates entries of depreciation in the General Ledger System.
Some of the Fixed Assets System Reports:
- Fixed assets data report.
- Asset description report.
- Asset depreciation report.
- Report on net assets and accumulated depreciation in a period.
- Report assets trail balances in a period.
- Report on purchased assets in a period.
- Report on sold or excluded assets in a period.
- Report of depreciation journal entries.
- Report on assets position according to the purchasing dates and several types of depreciation.