The fixed assets of any company are its actual capital, making them of great importance to business owners. So, accounting applications and software take care of planning the management of whatever fixed and current assets the company owns. The ERP programs aim to prepare all facility resources and provide the best fixed asset management program.
The fixed asset program aims to collect all the assets’ data to ensure that the recorded data is completely correct and each asset affects the book balance one way or another.
What are fixed assets?Copy
Fixed assets are the sum of tangible and intangible properties the company has owned for a long time and uses in operations and increasing profits, for example, equipment, land, vehicles, factories etc.
What's the difference between fixed and current assets?Copy
The fixed asset is used for a long time and can’t be changed into cash directly, but it can be used in operations to make money.
The current asset is used for one or less accounting period to make quick profits, such as customers, investments, goods etc.
Types of fixed assetsCopy
Tangible fixed assets :Copy
can be seen with the naked eye. Their depreciation is calculated except for land.
Intangible fixed assets:Copy
rights that can't be seen with the naked eye, such as fame, composing and monopoly rights etc. Depreciation can be calculated for some of those
Fixed asset programCopy
It's an accounting software with immense abilities. It collects and confines the data of all the assets, including equipment, land, vehicles and others, then analyses and manages them correctly to achieve the best interest with the minor expenses by keeping the asset.
Benefits achieved by the fixed asset module:Copy
Confining every fixed asset owned by the company while analyzing their data into:
- Adding an asset
- Renew or replace an asset
- Calculating its depreciation
- Selling, excluding, or disposal of the asset
- Annual depreciation value
- Asset inventory
- Repairs and malfunctions
- Profit or loss gained by keeping the asset or dispensing it
- Auto-calculation of depreciation. Determining the best daily, monthly, or quarterly depreciation ways.
- Effectiveness in tracking assets: the module allows taskmasters to manage their assets through their phones from any spot worldwide.
- Linking assets with the cost centers: the module lets you know all these assets’ outgoing cost centers.
- Keeping the assets: the module helps you to keep an eye on the operations of the asset, such as receiving, running, withdrawal, and more. It also helps to perform maintenance faster.
- Error reduction: using this module helps significantly to reduce errors and malfunctions resulting from human use.
- Cost reduction: the module will calculate the asset’s maintenance cost and compare it with the substitution’s cost. Additionally, is it better to replace or keep it to reduce expenses.
- Evaluating your business accurately: the module produces more accurate reports, thus determining the actual financial state of the company.
- Investment attraction: the reports provided by the module are considered more reliable for businessmen who want to buy shares or fund by lending.
- The module is considered a reference for economic analysts: it helps them to notice the data and make decisions.
- Contributing to the growth: determining the actual value of the assets and adding new fixed assets are considered a good indication of the company’s growth.
How to take full benefits of fixed assets programCopy
Our team visits your company to know your asset calculation system. Then, it’s analyzed to understand its loopholes by our specialized accounting consultants using the best scientific, modern, and professional ways.
An identification code is given to every asset in the different branches so we can eventually provide an initial program design to deal with your company’s assets.
The team designs a superstructure to divide the assets, confine all of their types, and collect and distribute them according to the nature of your work.
This method helps in knowing the current and actual value of the assets accurately. Then, the team applies the superstructure to the fixed asset software through the barcode, including all the assets’ main sections such as transport, inventory, depreciation, and more.
Every fixed asset is given a barcode that includes all the asset’s data such as its type, ID code, state, value, the name of the person in charge, etc.
According to the data added to the program, reports of the assets’ actual inventory and identification between the records and reality are issued.
A simplified video illustrates the advantages of the fixed-asset program, which aims to help major companies make optimal use of assets and modify their accounting operations to achieve the highest success rates.
Advantages of the fixed asset program from the capital ERP:Copy
- An enormous database of the assets that can record unlimited numbers and gives every asset a chart of accounts.
- The fixed asset software suits many commercial and industrial activities and contracting companies.
- The fixed asset software documents any change in the asset’s value and connects the asset with your exact spot.
- Preparing the accounting treatment of every asset in the balance sheet and financial statements.
- The fixed asset software is flexible and can be adjusted according to workand the number of assets you own.
- A specific barcode for each asset allows you to follow and track it.
- The ability to create variable cost centers for each asset separately to confine its profits or losses.
- Recording the opening balance of every asset.
- Preparing each and whole fixed assets’ depreciation with the beginning of each productive period.
- Multiple depreciation choices to choose from. Self-adding of depreciation percentage when adding the asset.
- Special tabulation for assets’ expenses, e.g., asset running preparation expenses.
- Tracking assets’ rents, including registration, collection and processing, and tabulating rent collection expenses.
- Inventorying any asset at any time and presenting a report of it.
- Tabulating asset renewal expenses to raise its efficiency or life.
- Accounting treatment of selling, replacing or substituting the asset.
- Accurate, detailed reports of the asset to decide whether it can continue working or not.
- Importing data from other programs and using different formulas such as Word and Excel.
- Data high protection and defining user permissions to prevent theft and manipulation.
- A multi-language, multi-currency.
- Technical support is available 24/7.
- Notifications for the assets’ periodic maintenance, renewal, and substitution dates.
- Supports auto-copy. You can retrieve original data easily.
- The fixed asset software works offline.
- The fixed asset software is designed to link with more than one device,g., printers and phones.
FAQs about the fixed asset softwareCopy
What reports can the module issue?Copy
It issues solo or full analytical reports of assets, including:
- Detailed reports of each fixed asset.
- Inventory statement for one or all assets.
- Depreciation percentage of one or all assets.
- Depreciation statement for asset renovations.
- Assets’ expenses reports.
- Asset exclusion statement if the renovation value outgrew its book value.
- Statement of the excluded or to be excluded assets.
- Reports of added assets during a specific period
How to track the asset using the fixed asset software?Copy
The fixed asset software provides an asset’s movement screen through which you can inventory, renew, substitute, or sell the asset.
Can the fixed assets software process equipment rental?Copy
Surely. It provides an integrated course to follow equipment rental for others.
Successful companies know the value of their assets. The fixed assets software from the ECPA company aims to know assets’ value, track them, document the change in their value, calculate their depreciation and decrease their expenses.
We seek your satisfaction, so we offer variable quotas to match the size of your business
To find out the prices of the fixed asset software, please click here