Fixed Asset Module automates the entire life cycle of fixed assets right from procurement to retirement of assets.
The process involved in Asset life cycle
-Procurement of Asset
-Asset Register – put to use
-Depreciation calculation as per company act
-Depreciation calculation as per Income Tax
-Depreciation posting to General Ledger
-Transfer Asset from one location to another
-Re-valuation of assets
-Adding component to asset
-Sale of Asset
-Scrap of Asset
-End of life of Asset