Asset Register

 

Objective

 

To maintain a detailed record of the company’s fixed assets by recording depreciation and current asset values, in addition to providing a facility to evaluate remaining usefulness by tracking expenditures incurred or income derived from assets.

 

The Value of Assets Register

• Maintain a register of all assets and their ocations
• Track expenses incurred for any asset
• Calculate book and tax-based depreciation
• Track maintenance history for each asset
• Obtain estimates of the remaining ‘useful life’ of an asset
• Report on disposals, revaluations and/or acquisitions
• Provide detailed reporting and screen queries
• Provision for initial and investment allowances
• Manage capital expenditure items
• Support IAS 16 regulations

Matching Assets Register to your business

• Define fixed or variable depreciation rates
• Multi-period accounting
• User-defined retention of history
• Book and Tax values plus three alternative user-defined valuations
• Revalue financial assets
• Asset Branch, Cost Center and/or Location transfer
• Dispose of assets
• Asset count process include labels with bar-codes
• Automatically post monthly provisions to the General Ledger according to a user-defined  hierarchy
• Calculate book depreciation and tax allowances using: Straight line; Reducing balance; Statistical or Fixed estimated useful life of asset
• Assign assets to individual branches of the business, and/or user-defined groups and types
• Attach sub-assets to other assets
• Group assets for reporting purposes
• Define variable depreciation rates for up to 14 years
• Record revenue and expense transactions for any asset quickly and easily
• Document and track maintenance or repair time against each asset
• Determine profit or loss on the sale of any asset
• Calculate depreciation and tax allowances to-date when initially adding assets
• Control work flow budget approval and requisitioning against Capex
• Temporarily suspend depreciation if asset is out of commission