Overview
The Assets Register system enables you to manage and control your non-current assets in terms of wear-and-tear depreciated, book value, disposals, additions and re-valuations. The information contained in the Assets Register can integrate to the GL or be run stand-alone. You can optionally record costs incurred in the maintenance of assets against the individual asset concerned. These costs can be broken down over a number of expense codes.
The Benefits of Assets Register
- Register of all assets, their details and values
- Multi-period accounting
- User-defined retention of history
- Asset budget approval and requisitioning against Capex
- Asset quantities and additions
- Full or partial disposal of assets
- Book and tax values, as well as alternative user-defined valuations
- Separate book and tax value depreciation codes
- Financial revaluation of assets
- Periodic and accumulated depreciation values
- Provision for initial and investment allowances
- Tracking of asset-related transactions
- Transfer of assets between companies, branches, cost centers and locations
- Asset counts, with an option for bar–coded labels
- Support for IAS 16 regulations
- Support for MACRS methods used by the IRS in USA
Assets Register Features
- Optionally calculate depreciation and tax allowances to date when initially adding assets
- Assign assets to individual branches and/or user-defined groups and types
- Attach sub-assets to master assets
- Group assets for reporting purposes
- Manage capital expenditure items
- Automatically post periodic depreciation to the general ledger according to a user-defined integration hierarchy
- Post depreciation adjustments
- Temporarily suspend depreciation if asset is out of commission
- Obtain estimates of the remaining useful life of an asset
- Determine profit or loss on sale/disposal
- Calculate book depreciation and tax allowances using
- Straight line – fixed and varying percent age per year; varying percentage per month
- Reducing fixed or varying percentage per year
- Estimated useful life – fixed or statistical
- Sum of years in digits
- Remaining value over remaining life
- Declining balance, switch to straight line when optimal or no switch to straight line
- Record revenue and expense transactions for assets
- Document and track maintenance or repair time against assets
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Contact Us
: Baltimore House,
50 Kansas Avenue,
Manchester. M50 2GL.
: +44 161 8764 498
: info@k3syspro.com
: Support Login
50 Kansas Avenue,
Manchester. M50 2GL.
: +44 161 8764 498
: info@k3syspro.com
: Support Login
