Fixed Asset Management With Inventory
Organizations can centralize accurate asset information by using a fixed asset inventory system to track and manage assets from acquisition to disposal. Fixed asset inventory management involves monitoring long-term assets like buildings and equipment, which are crucial for maintaining financial stability. These assets, including property, machinery, and furniture, contribute to a company's value and are not expected to be sold within a year. Implevista's iquidi software offers features like purchase assets, assignee assets, manage assets, and all assets, tailored for various businesses.
To begin, fixed assets need to be added. They can be added through the "purchase asset" or "manage asset" options. Recently purchased assets undergo a payment procedure and appear in the managed assets as drafts. They can then be registered by providing details like purchase price, date, asset type, depreciation start date, method, and rate. The system offers a monthly depreciation run and a rollback feature.
For asset disposal, users can click on the dispose option and fill in the required fields. The system automatically manages accounting, including profit and loss calculations. Various reports, like account transactions, balance sheets, and profit and loss reports, are available.
The assignee asset feature helps track assigned assets, allowing transfers between individuals with proper comments and keeping a history of returned assets. Assigned assets cannot be sold directly; they need to be unassigned first.
The fixed asset inventory is crucial for multiple reasons. It aids in determining purchase prices, depreciation, and asset utilization. It identifies threats like loss or theft, optimizes resource usage, and helps in tax planning and legal compliance. Ensuring accuracy in the fixed asset inventory is essential for informed decision-making, proper accounting, and financial success.