Fixed Assets

Fixed Assets Management System

A fully integrated solution for managing fixed assets. The system facilitates defining unlimited number of assets types, and tracing all assets movement and record the variance of the asset value. As well as, the system link each assets with its’ actual location, and calculate the asset’s depreciation. The system is build based on the modern accounting methods for recording, following up and evaluation of the assets.

Main Configurations:

    • Define the assets groups and link them with accounts.
    • Add the asset’s details, depreciation and its’ accounts.
    • Link cost centers on a group wise, location wise, or asset wise.
    • Define the assets’ depreciation periods.

Main Functions:

  • Defining the asset and activate its’ use as an individual asset or group of assets.
  • Allocate the asset to a specific location and handle it to the employee based on His/Her task.
  • Record any transaction on the asset (i.e. register, maintenance, depreciation, disposal, transfer).
  • Issue assets inventory list to compare it with the actual assets’ stock taking list.
  • Depreciating the assets according to a specific depreciation periods, based on the company’s depreciation methods for each asset.
  • Generating the financial impact (Journal) for each transaction on the asset.
  • Generating summarized and detailed reports for all assets.

Main features:

  • Ability to create additional assets details with customizable parameters.
  • Increase the value of the asset based on any add-on in it, and vice versa.
  • Ability to dispose the asset with transactions (i.e. giveaway, sell, scrapping and return to inventory), and these transactions can have profit and loss impact.
  • Ability to deactivate the asset without depreciation or with a specific deprecation rate with extension or disposal ability.
  • Ability to depreciate the asset after reaching its’ lifetime with a specific deprecation rate or keep using the asset without depreciation.
  • Flexibility of depreciating the asset based on multiple periods (i.e. daily, monthly, quarterly, semiannually and annually).
  • Ability to review the transactions and the records before approving the depreciation transaction.

Fixed Assets System achieves full financial integration with MOTAKAMEL PLUS ERP Modules. 

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