ZedAssets – Assets Management System

Assets Management System a tool for recording, Tagging, keeping & Tracking of Assets. First of all we tells that every company need to track its assets. The assets of any business fall into two categories Fixed and Current Assets. However Fixed Assets are for long-term use, While Current assets are for short-term.  Furthermore now we discuss the importance of Assets Management:

Firstly enables a firm to keep tabs on all of its.

Secondly helps guarantee the accuracy of amortization rates.

Thirdly helps identify and manage risk.

Fourthly removes ghost assets in the company’s inventory.

Fifthly complete an Asset Inventory.

Sixthly compute Life-Cycle Costs.

Seventhly set levels of service.

Eighthly exercise Long-term Financial Planning.

Now we go towards the main features of this Assets Management System. After that we discuss the main benefits. During all these you also enjoy to learn about the features of Assets Management System.

Define:

  • Assets Classes
  • Departments
  • Cost Centers
  • Custodians
  • Suppliers
  • Locations
  •  

Acquisitions

  • Create new Assets, their detailed information, image, set of Depreciation method and allied financial information to calculate depreciation and net Book Value

Transactions

  • Asset Disposal. Revolution, write-off and transference from one cost center to the other, Auto financial vouching to book transaction into journal and ultimately post to the General Ledger,

Item Depreciation Calculator

  • This is a runtime Query to view each items periodic Deprecation calculation over years. This option allows to change Query permanents to see different patterns , which does not allow to post results into the journal.

Asset Register

  • Each times financial card to see data wise transaction like acquisition, Addition, transfers, revolution and write-offs.

Journal

  • Double entry financial transaction history posted into cost centers, COA and trial.

Service Log

  • Services and maintenance record is created through this option.

Depreciation Schedule

  • Periodic depreciation schedules are viewed on the basis of cost centers, departments, Asset type etc… And deprecation vouchers are generated

Cost Group Reporting

  • Cost group and financial ledgers grouping criteria that may or may not be coincident with asset department. These cost groups has direct relation with the chart of Account Codes. Repotting can be drawn from this Query to see what has to be changed into company COA.

Chart of Account

  • Chart of Account has been provided with the system to see actual double entry effect into company GL that may or may not run on this software. This is a kind of the accounting for companies who do not run rest of the accounting on this software created same code into the CDA of this Asset management Module as they keep in their Accounting System and compare them periodically to keep both aligned.

Trial Balance

  • Trial balance is the by-product of embedded GL, a great utility of Quickly compare results of Accounting System and Asset Management Module, if run Parallel

After all above we take benefits from Assets Management System that give below:

  • Improving Acquisitions and Use
  • Improving Compliance

In conclusion if we use the assets management system than we take a more benefits from our assets rather than without using assets management system. Because this system will make help regarding assets life and its utilization benefits.

As a result, Asset management System is simply a system which helps companies to track of all assets, such as vehicles, equipment, and investments. Maintaining tabs on the assets streamline operations, in relation to their sale or disposal of the assets. Because of this, Process also overcome the chance of recording ghost assets for all the available assets are well accounted for books of accounts. Similarly, it manages the risk of misuse of assets. And on the other hand Asset management system make helps in making a good and on time decisions. Because assets are all in system and if we need anything we can check it with only one click and we can manage without any dely.

Therefore we recommend this assets management system to all those organization who use register system. And in that old system or record keeping they don’t know about actual picture of their assets when they need information about assets.

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