Fixed Asset Management
The Fixed Asset Module categorizes the fixed asset to the category it belongs, the location at which the fixed asset is placed/installed which shall include the place, the department in which the asset is kept, and the barcode assigned to it.
Fixed Assets Tracking System (FATS) is equipped with various other listings of location(s), department(s) and sub-department(s) which are recorded and maintained with the aid of input modules for each. The user has the flexibility to define regions/branches, departments and sub departments that they think fit. Each location/department/sub-department is assigned a barcode ID. FATS is capable of generating barcode labels based on the parameters provided by the management for fixed assets and locations, departments and sub-departments.
Under the Fixed Asset Module is the umbrella module of Fixed Assets Accounting. This depreciation-based module is designed to cater to both the accounting and tax requirements of the enterprise. It will be quite flexible so as to accommodate any number of parameters like depreciation method, the useful life, the tax restricted cost etc. both for accounting and tax purposes. Based on these parameters, the module will calculate and record book values, depreciation charges for each financial year end, both for accounting and tax purposes.