fixed assets management software

Fixed Asset Management Software

Key FeaturesMastersTransactionReportsUtilities

sales@fastfacts.co.in

http://www.fastfacts.co.in

Key Features

Key Features

Entering Masters

Company Details

Create a company which will contain Fixed Assets and Depreciation

details across ALL Financial years.

For de-centralized organisations, create a company for each Branch/Region/Accounting Unit .These can be later consolidated for

organisational-level reporting

Parameter

Configure Parameters for Asset Auto-numbering , Creating Additional Books of Depreciations, Auto-Backup periodicity, optional validations , and

depreciation calculation dimensions.

Accounting Years – As per Books

Define Accounting Years as per books.

Any number of years can be defined.

A year can be closed to disable any alteration in transactions.

For a year, Depreciation Calculation can be allowed to be edited manually.

Financial Years – Income Tax

Define Financial Year as per Income Tax.

This will be used for calculating Depreciation as per Income Tax.

A Financial Year can be marked Closed to avoid any alteration in future.

Rates as per Books

Define Depreciation Codes , methods and rates for each accounting year.

Select WDV/SLM method

Activate Multi Shift Depreciation for a Depreciation Code

Define Double Shift / Triple Shift Depreciation Rate

Rates as per - Income Tax Act

Define Depreciation Blocks for each Financial Year

Define Rate for each Block

This will be used for Depreciation Calculation as per I Tax

Rates of Depreciation – Additional Book

In case you have opted for Additional Depreciation Books define

Depreciation Code/ Method / Rate for each Accounting Year

Additional Books can be created to have Depreciation computation

other than requirements of Companies Act e.g. Parent Companies policies

Asset Category

Create a hierarchy of categories upto 3 Levels

Level 1 and Level 2 are mandatory

Level 3 is not mandatory

Asset Category

Default Depreciation Code and Income Tax Block Codes can be defined

100% Write off amount can be defined

Max Write off % can be defined

Prefix for auto-Asset ID generation can be defined for each cateogry

Departments

Define Department Code

Department is one of the mandatory dimension of asset record

Reports can be filtered on Department

Cost Centres

Define Cost Centre Code

Cost Centre is one of the dimension of asset record

Reports can be filtered on Cost Centre

Vendors

Define Vendor Code and update vendor details

Vendor details are mandatory for asset record

Separate vendor wise report can be printed

Users

Define User Code and address details

User is one of the dimension of an asset

Asset under user custody letter can be generated

Locations

Create hierarchy of locations upto 3 levels

Locations are mandatory for asset record

Locations are one of the grouping /filter option in reports

Locations are useful in physical verification process

Entering Transactions

Closing Balances

When Asset details are to be entered from a cut-off date.

Screen similar to Asset Acquisition with additional field for Accumulated Dep.

Alternatively Closing Balance details can be imported from MS Excel File

Acquisition of Assets

Asset Acquisition details can be entered with ease

Several Masters can be added from within the screen e.g. Vendor, User

Control R repeats previous record for faster data entry

Asset ID is auto-generated / manually entered based on parameter selected

Over-riding Rate / Method for an asset can be defined

Asset Acquisition details can be entered with ease

Several Masters can be added from within this screen

Control R repeats previous record for faster data entry

Asset ID is auto-generated / manually entered based on parameter selected

Cost Breakup

Asset Cost break-up details can be entered

Separate report available for cost break-up details

Easy data entry with copy/paste functions

Asset Acquisition details can be entered with ease

Several Masters can be added from within this screen

Control R repeats previous record for faster data entry

Asset ID is auto-generated / manually entered based on parameter selected

Asset Cost break-up details can be entered

Separate report available for cost break-up details

Easy data entry with copy/paste functions

Quantity Details

Quickly add several records for multiple quantities

Multiple entries can be generated for 1 or user defined quantity

Custom Physical ID can be generated

Sale/Discarding of Assets

Sale / Discarding transaction of asset is recorded in this screen

Profit / Loss as per Books is auto-computed

Sale value is reduced from the I Tax Block

For several transactions , bulk sale option can be used

Splitting of Assets

Split an asset in 2 or more assets

Generally required when selling part of an asset

Cost and Depreciation Details are split across all financial years

Auto Split based on quantity

Depreciation Calculation – As per Books

Calculate depreciation for any period – Month / Quarter / Full Year

Depreciation Period continuity maintained

Calculate depreciation for any category at a time

Only Last depreciation entry allowed to be modified / deleted

Bulk modification of Dep. Amount thru Excel Import

Depreciation Calculation – Income Tax

Calculate Depreciation as per Income Tax block wise

Start from any financial year by entering Opening WDV

Depreciation Calculation – Additional Books

Calculate Depreciation for Additional Books

This is same as calculating depreciation as per Books

Change of Asset Category

Record change of category of any Asset

It does not change depreciation

Schedules prior to change will show Previous Category

Schedules post change will show New Category

Reclassification of Assets-Books

Change Depreciation Code for an asset retrospectively

Auto computes change in accumulated depreciation

Schedules prior to change are not affected

Reclassification of Assets-Additional Books

Change Depreciation Code for an asset retrospectively

Auto computes change in accumulated depreciation

Schedules prior to change are not affected

Change of Method

Effect change in Method

From WDV to SLM or vise versa

Auto computes difference in accumulated depreciation

Schedules prior to change are un affected

Change of Rates

Effect change in Rate retrospectively

Auto computes difference in accumulated depreciation

Schedules prior to change are un affected

Assets Maintenance Contracts

Record AMC details for each asset

Bulk Update for quicker data entry

AMC Reminder and reports available

Insurance

Record Insurance details for each asset

Bulk Update for quicker data entry

Insurance Reminder and reports available

Physical Verification

Record Physical Verification Details

Filters for quicker data entry

Read Bar Code Scanner file for automated verification

Shifting of Asset – Transfer within same unit

Record change of Department, location , cost centre and User

Schedule prior to change will show previous value

Schedule post change will show new value

Shifting of Asset – Transfer out to different unit

Record shifting of assets to a different unit

Print Transfer Memo

This asset can be entered by the receiving unit as “Shifted-in” Asset

Such assets are removed during consolidation

Reports

Fixed Assets Register

V

Fixed Assets Register- Additional Books

V

Fixed Asset Schedule Books- Ratewise

Fixed Asset Schedule Books- Categorywise

V

Fixed Asset Schedule Books- Groupwise

V

Fixed Asset Register - Grouped

V

FA Schedule Comparision - Categorywise

V

Depreciation Statement - Books

V

Depreciation Statement – Shift wise Details

V

Depreciation Statement – Additional Book

V

Fixed Assets Schedule – Income Tax

V

Asset Classification for Income Tax

Form 3CD

V

Fixed Assets Ledger

V

Change of Asset Category

V

Re-Classification Report

V

Sold/Discarded Report

V

Report – Asset Acquired Datewise

V

Report – Asset Acquired Purchase Orderwise

V

Report – Asset Acquired Vendor wise

V

Report – Asset Cost Breakup

C

Report – Asset Shifted

V

Report – Asset Costing

V

Report – Addition made to an Asset

C

Report – Physical Verification

C

Report – Asset Maintenance

C

Report – Insurance

C

Report – Warranty

C

Report – Asset Under User Custody

C

Fixed Asset Cards

Print Barcode – Barcode Printers

Print Bar Code labels on any PPLB compliant Bar Code Printer

Print one Bar Code and upto 4 human readable texts

Fix bar code width , height

Report – Categorywise Summary

c

Report – Asset Overriding

c

Report – Asset Requiring Replacement

c

Fixed Asset Listing

Quick Transaction listing generator

Define the columns for listing

Define the filters for listing

Export the result to MS Excel

Depreciation Amount Mismatch

C

Fixed Asset Register WDV <=

c

Utilities

Asset Enquiry

Search for an asset / assets meeting given criteria

View the assets in the grid

View the control totals

View Fixed Asset at a Glance

View complete asset history on screen

View Cost Break-up, Sale , UDF and dependant assets

View depreciation details

AMC & Warranty Reminder

View AMC expiring on a given date

View Warranty expiring on a given date

Useful reminder for managing renewals

Bulk Update – Income Tax

For any change in the Income Tax Block Code , bulk update

Update available based on Category and year

User Defined Fields

Create User defined fields for an asset10 Text-type and 5 Date-type fields can be defined

Consolidate Data

Consolidate multiple database for corporate level reporting

Useful for a multi branch organisation

Excel Import

Import Closing Balance details / Asset acquisition details from MS Excel data

Templates provided for easy import

Step-by-step wizard points all errors and imports only when data fully validated

User Management

User level menu access User level company access

Thank You

sales@fastfacts.co.in

http://www.fastfacts.co.in