| The Fixed
Assets System (FA) developed
by MIS is designed to maintain fixed assets, reducing the
amount of manual data entry, processing depreciation transactions,
automatically posting to GL, ...etc.
Major
Features:
- Maintain user-defined
and system-defined codes.
- Provide a flexible
parametric set-up of the system depending on the company
business rules and requirements.
- Support multiple
currencies.
- Allow the user
to classify assets into four levels, namely group, type,
Class and the asset acquired itself. Each level has its
set of properties and attributes.
- Support a flexible
definition of properties for an asset.
- Automatically
Helps the user locate the assets.
- Keep a history
of the transfer of assets between locations and/or employees.
- Handle the
status of assets, starting at the class level. The status
may be ‘Active’, ‘Fully depreciated’
Or ‘Disposed’.
- Maintain a
depreciable flag for assets; i.e. Some assets may be non-depreciable,
but still supported by the system.
- Control The
current asset book value.
- Maintain all
possible transactions on fixed assets, classified under
acquisition, revaluation, transfer, depreciation and disposal.
- Support 3 depreciation
methods straight line, declining balance, and sum of the
year digits.
- Allow Four
depreciation modes upon acquisition or disposal of asset
full depreciation, zero depreciation, half depreciation,
and proportional depreciation.
- Accept manual
depreciation transactions.
- Maintain expenses
related to acquisition, transfer, disposal and revaluation.
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