Assets Register

A FINANCIAL MODULE

Overview

The SYSPRO Assets Register solution provides up-to-date real-time information pertaining to the value of all assets within the organisation by keeping a record of depreciation and current asset values. It also contains a facility which evaluates the remaining worth by tracking income and expenditure derived from assets.

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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    Baltimore House,
    50 Kansas Avenue,
    Manchester. M50 2GL.
    : +44 (0)161 876 4498
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