ZEDERP- FIXED ASSETS MANAGEMENT SYSTEM

Features

Technology

The Software is a Web Based Solution designed & Developed on Microsoft .net Framework using C# and SQL Server.

Access Rights

Role based unlimited user accounts may be created and each user may be assigned its own set of privileges.

Scope

The software allows to define scope of system, like to register Asset Classes, Cost Centers, departments, custodians etc. and its linkage to its embedded GL Accounts to draw double entry Journal and subsequent Trial.

A well defined multi level Chart of Account may be created for a structured out put of consolidation. However the Assets detailed reporting can be drawn on the basis of following setup items.

Insight Setup

We are offering this software with an embedded General Ledger, Chart of Account and few other features of our own ERP Product

Such that, the whole package should cater not only Asset Managers to manage Inventory but also to connect HR Managers, allocating Assets to employees, compute and charge costs to related Departments and finally generate Asset Vouching into related cost centers of General Ledger connecting Accounting Function. Change of Asset status like custodies, transfers, conditions, depreciations etc., that has impact on costs; charge appropriately into GL as asset Transactions.

Access Rights & Roles

System allows role based user privileges to access different areas of the software. The backend configuration module allows to manipulate every menu option to be allowed or disallowed to a user.

In this specific case, we have created following Role Templates:

  • Over All Asset Manager Role (Enterprise Level Full Control)
  • Assistant Manager Role (Can Manage 1 or more than 1
    Company’s Assets)
  • Normal Employee Role (Can only see own Asset and
    histories)

In addition, any kind of Roles may be created as per requirement.

 

Assets Classes

These are the Standard accounting grouping of of the Asset Items. Different Reports have data filters on the basis of this parameter. Every defined Asset Item must fall under these user defined Classes.

Asset Category

Asset Category is also another grouping dimension. We have used it as shown in the below pic. to segregate Asset Items on the basis of Financial treatment. (owned, Leased & WIP Asset Types).

This dimension may be used for any kind of Assets grouping on user’s choice.

Assets location

Assets location is another important information that must be catered into Asset Management System.

Do not Confuse Department with Location. Department is a logical demarcation where Location is a specific place that has an address. This Parameter may also be used in Geo Tagging on Google Maps

Asset Status

This field is self explanatory, used to tag Asset current status. Users may define them on their own choice

Assets Condition

This field is an additional Information for users to filter their assets on the basis of its condition to take necessary periodic steps like to write off, call for service or maintenance

Asset Cost Group List

This Definition Area groups Asset Items into user Defined Cost Centers and at the same time links with General Ledger Accounting areas to drop double entry effect of Asset Journal into the GL.in the result of Asset Acquisition, Depreciation, Revaluation, Transfers & Write-offs.

Cost Group Binding with COA

Clicking a cost center item from the above list drills down into following detail page. Every cost group item has to be bonded with Chart of Account codes for each type of GL transactions like Purchase Account, Depreciation Account, Asset Sale Account, Gains & Loss Account. However, logically; if user do not want to break asset transaction across many Heads of Accounts, they can simply bind all Cost Group binding areas to a fewer GL Accounts adopting Many-to-One binding approach.

Chart of Account

Chart of Account contains Fixed Assets Control Heads for various types of asset transaction consolidation.

Let your Assets Module Class Level and Cost Center Level Results be mapped with the Chart of Account Codes; as shown in the pic, an automated picture may be created within a stand alone Fixed Assets Management Software of what the exclusively running Accounting System might be showing.

By Accounting principles, each legal business entity must have exclusive COA.

 

Now each Company defined, shall have its own Chart of Account. This is the New feature developed into the Software

Depreciation Methods

A Depreciation Method can be created once and saved under a Title. It simplifies repeated operations on every new coming Asset. This Method contains the Depreciation Type (Straight Line, 200% declining Bal etc..), No of Years, Periods contained in a year, Monthly/Yearly depreciation posting, Currency etc.. These may be defined once for each Asset Class.Each Incoming Asset inherits these characteristics from its Parent Class. However, Users may change Depreciation method on Item Basis whereas it is not a normal practice.

Fiscal Year Definition

New exciting feature of the Software. Each Company defined under the system has its own fiscal year now.

Periods Definition

New feature of the Software.

Each Company’s fiscal year now can be broken down into user defined periods.

 

Here is shown the Employee List. Each employee shall be defined under a Department. Departments & Employees are exclusively defined through their own definition areas.

Departments & Employees

New Enterprise functionality is incorporated in our Asset Management Software. Now System caters multiple Companies at a time. Companies may be assigned to different Asset Managers. Each Company shall have its own departments & employees. Assets custodians can also view their custodies interactively from the system.

System assigns Every registered employee its login and passwords, which may be altered, made active and inactive by related Asset manager.

Employee Definition and Impact of Leaves on Asset

Custodies

Human Resource Management functionalities are integrated to relate Employee Leave records. Their temporary disappearance from job place generates alerts to Asset Manager to commit asset transfer transactions to the alternate arrangements defined and approved by the HR Dept..

System is now capable enough to record employee leaves.

System is now capable enough to record employee leaves.

Supplier Record

Suppliers are also defined into the system with their unique IDs. In order to track Asset Items purchased from a specific Supplier

Displayed pics represent Supplier List and its detailed record entry form contains all necessary fields that are required to keep for assets acquisition. Even this is a standard supplier form with shipping and billing address, contact info etc..

Clicking on a List row opens supplier detail form

Asset Items can be filtered and grouped on supplier basis in various queries and reports.

Assets List

Assets List is the way to access an Asset record. A comprehensive set of possible filters are given to the user to narrow down the list contents. These are:

  • Company
  • Class
  • Category
  • Location
  • Cost Grp
  • Department
  • Status

The New Company feature in the version 2 of this software can be noticed in the following pic. Current logged in user is given the privilege to manage only two company’s asset data. This user cannot access information of other Companies as he will never find other Company titles in company dropdowns.

Software enforces Company selection mandatory by placing Top falling Company Title into its respective dropdown. User may change the selection among only those Companies he is allowed to access, and cannot make this filter empty.

All other given filters are optional, Combination of which narrows down the search giving funnel effect.

 

Asset List provides related output reports, which will be discussed later under the section, Queries & Reports.

Transactions

 Asset Master Record

Asset Detail Page is the Asset Acquisition area where a purchased item is entered with all its credentials required to be recorded for asset management, its depreciation and NBV calculations separately. An item inherits its Depreciation Method from its parent class, however; may be changed Item to Item. Standard asset management practices does not allow this, however; option is provided for special cases.

Item Master Record, further contains following Tabs:

  • General
  • Finance
  • History
  • Transactions
  • Services

Asset Additions

An Asset May have assembly Components, that can be added either at the time of Asset Acquisition as shown above taking the whole cost in Master Record or make subsequent Additions as shown in following image. Each new addition commits financial vouching also keeping intact the component costs and accumulating it to the Master Asset Item.

Pressing “New” Button under “Component” Tab creates a room for new component entry asking additional cost along with Components other facts.

 

Transaction Tab

Transaction Tab of Asset Master Record allows following transactions:

  • Revaluation
  • Sale of Asset
  • Disposal
  • Transfers
    Pressing “New” Button opens blank fields to commit various transactions. Each new transaction append record in the yellow grid.

 

Clients Across the Globe

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