All assets can be recorded in the system to follow the next procedures.
Assets can be purchased through he system.
Assets can be assigned different locations within the same location or at multiple locations.
Assets can be transferred inter or intra locations.
Asset Maintenance refers to any activity done on Assets to maintain their performance or condition.
System provides features to track the details of individual maintenance/calibration tasks for an asset by date, the person responsible for the maintenance, and future maintenance due date.
Asset Maintenance Log logs the tasks carried out in an Asset Maintenance.
Asset Repair refers to any activity carried to repair a broken Asset to restore full functionality.
You can also maintain the records of Repair/Failures of Assets which are not listed in Asset Maintenance.
The system automatically creates a schedule for depreciation based on depreciation method and other related inputs like ‘Available to Use Date’ in the Asset record. It is also possible to create multiple depreciation schedules for different Finance Books. System can calculate depreciation by different methods like Straight line, Double Declining Balance, Written Down Value or manually.
If the value of an Asset changed suddenly due to any damages, it can be recorded using Asset Value Adjustment.
The Asset Maintenance Team is responsible for carrying out maintenance activities on the Asset.
The maintenance activities can be cleaning, polishing, servicing, or any other activity required to maintain the Asset in good condition.
When an asset is no longer usable, it is scrapped.
To sell an asset, open the asset record and clicking on the Sell Asset button. This will take you to a Sales Invoice. In the Sales Invoice, enter details like Customer and Payment Due Date.