Abel – Fixed Asset Management

Posted on 13.06.2023 by Rik

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Abel Software includes Fixed Asset Management within its financials. With Abel, 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 registers
    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.)

This screen capture shows an asset with purchase and depreciation in the current year. Abel ERP Fixed Asset Management.
This example shows an asset with purchase and depreciation in the current year.

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.

This screen capture shows a fixed asset report. Abel ERP Fixed Asset Management.
Fixed Asset reports.

Related Topics: Intangible Assets, Report Writer & Abel® Financials