For many companies, fixed assets comprise a very significant portion of the total assets. Proper management of these fixed assets contributes to a healthy bottom line. The XScribe Fixed Assets Module is an end-to-end tool that allows you to encode assets when they are received, track movements and assignments, track usages, track repairs and maintenance, and compute depreciation.
The Fixed Assets Module has a comprehensive database of the assets and allows your company to create bar codes for these assets. It also has a Fixed Assets Count feature where you can quickly check when the asset was last accounted for in order to find missing assets. The Fixed Assets Module also allows you to create a depreciation schedule for the asset to determine its remaining value, and also allows you to create a maintenance schedule for assets that need regular maintenance. If an asset needs to be repaired or fixed, a work order can be requested and routed for approval through the system, estimating the cost and man hours to repair the asset.
This module also has an assignment function for the transfer and monitoring of the accountability of the asset. This can be routed for approval, before being transferred to an employee, department, or location, and a conforme can be set to acknowledge receipt of the asset.
This module can also track the usage of the asset in order to determine for how many hours or kilometers it was used. And once the asset is fully depreciated or ready for selling or disposal, you can record it using the Fixed Assets Disposal feature.
The Fixed Assets Module is also linked with the Financial Management System of XScribe, where fixed assets transactions that have journal entries are recorded in the Accounting Module.
Key Features
- Fixed Assets Database
- Fixed Assets Depreciation Schedule
- Fixed Assets Maintenance Schedule
- Fixed Assets Assignment
- Fixed Assets Usage
- Fixed Assets Work Order
- Fixed Assets Work Order Report
- Fixed Assets Disposal
- Integratable with Purchasing and Accounting Modules of the FMS
Features
Improve the monitoring of your company's assets and equipment
Doing the equipment and property monitoring through the Fixed Assets Module will make things more efficient and accurate. This module has a database that can keep track of the details of all of the company's assets. Aside from what the asset is, how much it is, where it came from and when it was procured, you can also track down its usage, set up its maintenance and depreciation schedules, and also the changes on the assignment of the asset.
Keep track of your asset's location and accountabilities through the Fixed Assets Assignment feature
The Fixed Assets Assignment feature allows you to track the movement of the asset from one person to another, from one department to another, and from one location to another. It also allows you to track the changes in the status of the asset if it is operational, under repair, or broken. The Fixed Assets Assignment feature can also be used whenever your employees want to borrow an asset that they need for work. It has an approval flow, including a conforme from the employee acknowledging his receipt of the asset, to eliminate the use of paper when borrowing assets, and for you to keep track on who the assets are currently assigned to.
Keep track of your asset's depreciation schedule
This module can set up a depreciation schedule for every asset where you can encode the useful life, and the salvage value of the asset. Once a depreciation schedule kicks in, the remaining value of the asset is automatically updated, and the journal entries are also automatically created in the Accounting Module.
Keep track of your asset's maintenance schedule
You can also set up a maintenance schedule for each asset through the Fixed Assets Maintenance feature. This feature allows your property manager or your IT personnel to monitor when an asset was last maintained, which assets are due for maintenance, and which assets skipped its maintenance schedule.
Create work orders for assets that need to be repaired
Request for the repairs of asset can be made through the system using the Work Order feature. The Work Order feature allows your employee to indicate which asset needs to be repaired, why it needs to be repaired, and set items that need to be done in order for the asset to be repaired. Estimated cost and estimated time can be set whenever a work order is requested, which can eventually be compared with the actual cost and actual time spent to repair the asset, which is filled up in the work order report.
Keep track of your asset's usage through the Fixed Assets Usage feature
The Fixed Assets Usage feature allows your company to encode and track the usage of the asset. It gives you a snapshot on how many hours the asset has been used, how many miles it has already run, the idle time of the asset, and the utilization of the asset.
Dispose and sell unutilized assets through the Fixed Assets Disposal feature
After an asset has run its course, you can use the Fixed Assets Disposal feature to dispose or sell the asset. The Fixed Assets Disposal feature automatically creates accounting entries, and also automatically computes if the sale of the assets results to a gain or a loss for your company.
Integrate with other modules for extra efficiency
The XScribe Fixed Assets Module is integrated with the Purchasing and Accounting Modules to automatically create journal entries related to the transactions of the assets.
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