Abel ERP software includes Fixed Asset Management within its financials. With Abel ERP, you don’t need separate Fixed Asset Management software. Fixed Asset Management works seamlessly with Abel’s other business management and financial software functions…
Abel’s Fixed Asset Management provides:
- An Asset Register including employee, location, serial number and company / department.
- Both Book and Tax depreciation
Most businesses run EITHER book OR tax but some of our customers run BOTH of these concurrently
- Straight Line or Diminishing Value depreciation
- Purchase, sale, depreciation and transfer transactions
- Part sale and part purchase of pooled assets
- Consolidation of depreciation to any company, division or branch
When you purchase a new asset, Abel automatically creates depreciation from the purchase date for the remainder of the financial year, according to the depreciation methods configured for the installation. (Abel can be configured to suit the depreciation rules of most regulators.)
All transactions within Abel Fixed Assets are automatically registered in the General Ledger:
- Any transactions you do during the year such as asset sales, purchases, transfers or adjustments will have their future asset value and depreciation automatically accounted for, so that the true value of assets is always known and correctly shown in the balance sheet.
- Depreciation is calculated a financial year in advance using the annual depreciation journal.
- The asset stays in the asset register until sold – even if it has no value.
- Abel also supports interdepartmental asset transfers. This is like a sale from one department to another and it automatically transfers the future depreciation as well.
Fixed Asset Reports are developed with Abel’s in-built Report Writer.
That was a quick look at Abel’s Fixed Asset Management. To find out more about Abel ERP and how it can help your business, contact your Abel Consultant or an Abel office.
Until next time.
Related Topics: Intangible Assets, Report Writer & Abel ERP Financials