All asset-related information is now in one place. The asset lifecycle, which is created after purchasing or receiving an asset, contains all the information you might require, including the asset's status, trustee, location, warranty and insurance, obsolescence and a schedule for it, asset transfer, scraping, selling, and movements, and more. It’s transparent and perfectly clear, like everything ought to be.
Utilize the integrated inventory function that makes managing all the data about an asset simple. Serialized or batch-produced goods? You choose. Use the camera on your device to scan barcodes for lightning-fast search, quicker results, and data-driven decisions based on the availability, locations, and other characteristics of assets. Based on the data kept in the item master, the system automatically produces the asset record when an asset is purchased.
Assets are acquired using purchase invoices or purchase receipts (also known as goods received notes). Based on the data kept in the item master, the system immediately produces a record for the asset. With a few clicks, depreciation schedules, procedures, insurance information, and more can be altered. Asset acquisition has been made simpler with one-time configuration.
You can sell assets that you no longer require with a few clicks. Since the system will automatically generate those journal entries, there is no overhead associated with maintaining accounting books, keeping the process quick and easy.
Automating Asset Depreciation
Manual depreciation entries are hassle-free with automated asset accounting. Create depreciation schedules for various asset categories, and the software will automatically compute the amount or dates of depreciation and produce accounting entries.
You can easily discard an asset when you no longer require it. Asset management handles the accounting inputs, ensuring that everything runs smoothly.
Asset Value Adjustment
The Asset Value Adjustment feature can be used to record a sudden increase or decrease in an asset's value. Based on the entered re-adjustment values, the system will generate journal entries and recalculate depreciation amounts.
With reporting options, you can identify bottlenecks, keep an eye on performance, and enhance service delivery. Use standard reports and easily-buildable custom reports to provide data-driven analysis for better decisions.