Empower Asset Control
Elevate Fixed Assets with
Intelligent Management
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The Fixed Assets Module in eresource On-Demand ERP provides organizations with a comprehensive solution to efficiently manage and account for their tangible assets. Fixed assets, such as buildings, equipment, vehicles, and machinery, are critical investments for businesses. Managing these assets effectively ensures accurate financial reporting, compliance with regulations, and optimized asset utilization.
Asset Register
Asset Register is a central repository that maintains detailed records of all fixed assets owned by the organization.
- Add, edit, and manage asset details, including asset name, description, acquisition date and cost.
- Assign unique asset identification numbers for easy tracking.
- Group assets by categories for better organization.
Depreciation Calculation
Depreciation calculation is a crucial component of the Fixed Assets Module, as it ensures that the reduction in asset value over time is accurately reflected in financial statements.
- Choose from various depreciation methods (e.g. straight-line, declining balance) based on accounting standards and asset types.
- Automate depreciation calculations to streamline accounting processes.
- Generate depreciation reports for financial reporting and tax purposes.
Asset Maintenance
Asset maintenance functionality allows organizations to schedule, track, and manage maintenance activities to extend the useful life of assets.
- Schedule preventive maintenance tasks to reduce breakdowns and repairs.
- Record maintenance history, including dates, costs, and service providers.
- Set maintenance alerts and notifications for timely action.
Asset Valuation and Revaluation
The Fixed Assets Module allows for periodic asset valuation and revaluation to reflect current market values.
- Conduct asset valuation exercises to assess the current value of assets.
- Revalue assets based on market conditions and financial reporting requirements.
- Maintain a historical record of asset values for compliance.
Reporting and Dashboard
Access to comprehensive reports and analytics is essential for informed decision-making and financial reporting.
- Generate asset reports, including asset registers, depreciation schedules, and maintenance histories.
- Utilize analytics to assess asset performance, utilization, and cost-effectiveness.
- Facilitate compliance reporting for regulatory authorities.
