FIXED ASSET MANAGEMENT SOFTWARE
WHAT ARE FIXED ASSETS?
FIXED ASSETS are items which are used by the organization to carry out its daily operations and production purpose. They are tangible as well as intangible in nature. Fixed assets are the most important part of a company’s functionality. All sizes of company from a big large organization to low mid-size use assets and tools for the production of goods and services which they sell in the market. Before the start of production, a company has to invest a high amount for purchasing fixed assets as per its requirement. Fixed assets are bought for long term purpose and have a useful life associated with it.
Examples of Fixed Assets:
- Building
- Plant and Machinery
- Patents
- Trademark
- Computers
- Land
HOW TO MAINTAIN FIXED ASSETS?
Maintaining fixed assets is a challenge most of the organization faces. The most important factor to look out for is scheduled an annual check on a regular basis, thus maintaining assets in a healthy way so they can perform at their optimal best and add value to an organization.
Checklist for maintaining assets:
- Timely Inspection
- Damage protection
- Schedule Annual Maintenance
- Repair assets
- Replace in case of damage
- Third party verification
- Valuation on a timely basis
- Getting Insurance coverage as the cost involved is high
- Third-party Certification
- Extended warranty
- Regular audit
- Follow Safety rules
- Correct usage as instructed
Annual Maintenance Schedule, Regular Audit, Insurance coverage reminder, Verification, Valuation, Depreciation, Repair history records are to be maintained. It is also advisable for a Company to invest in enterprise fixed asset management software for the same purpose.
QuickAsset – India’s best Fixed Asset Management Software comes with various options and inbuilt modules to create and maintain unlimited assets with unlimited companies’. It can be used by large corporations, small business, and accountancy firms.
The software is available in 2 versions:
Desktop Based: Software will work in a LAN environment. One computer will be the server and others can use the software through the shared link
Web Based: Software can be hosted on the internet and can be used from anywhere by using an internet connected computer.
QuickAsset Fixed Asset Management Software Features:
- Create Unlimited Companies
The software allows you to create unlimited companies and data is stored companies wise in the software.
- Maintain Unlimited Assets
One can maintain unlimited assets in the QuickAsset software. Land, Buildings, Ships, Plant & Machinery, Computer, Tangible or Intangible any type of assets can be easily maintained.
- Financial Year
Book-wise financial year record can be maintained in the software. The software comes with the option to create Indian Financial year (April to March) along with the Calendar year option (January to December).
- BookWise Reporting
Book-wise data can be kept in the software. Income Tax and Companies Act 2013 Book is default and software have an option to create 2 additional books i.e. Book 3 and Book 4 which can be used for different currency, value and financial year. The software follows the Indian Income Tax Act, 1961 Depreciation and Companies Act 2013 Depreciation Act as default.
- Masters Creation
Various masters’ can be created in the software, a list is mentioned below. These masters are to be assigned to the assets. Add, Edit, Delete, Excel Import is available for all the masters.
- Asset User
Different asset users can be added edited or deleted in the software or excel imported with the click of a button.
- Income Tax Block
By Default 5 Income tax Blocks are predefined in the software, but a user can create his own blocks.
- Income Sub Block
Similar to blocks 13 Sub-blocks are predefined but a user has an option to create his own sub-block with the depreciation rate
- Location
Multiple locations can be created in the software which can be assigned to the assets.
- Department
Different department with details can be formed in the software.
- Vendor
Vendor data can be maintained with the contact person, contact no, email, GST No, PAN No and other details.
- Custodian
Custodian can be created in the software. This is optional. Assets can be mapped accordingly.
- Sale Party
Sale party can be generated in the software. Later on, assets sold to a particular party can be easily tracked.
- Service Provider
Service provider master option is available in the software. Annual Maintenance contract can be mapped to aservice provider.
- Manufacturer Details
Manufacturer details can be kept in the software. It can be assigned against an asset with details of warranty, make, model etc.
- Categories
Different categories can be created in the software. It can, later on, be assigned to the assets and also simplify the data reports filtration.
- Sub Categories
Sub Categories can be created in the software and mapped to categories. It can be later used for reporting filtration.
- Annual Maintenance Contract (AMC)
Details regarding assets covered under Annual Maintenance Contract (AMC) can be easily maintained in the software. The software will automatically create AMC dates on the basis of the frequency set and a reminder alert will be sent by software through an email. One can maintain work done against AMC and compare with the checklist.
- Insurance Details
Asset covered under Insurance policy can easily be maintained in the software, with timely reminder alerts.
- Verification Details
Internal or Third party verification related data can be maintained and easily tracked in the software.
- Valuation Details
Assets Valuation details can be maintained in the software with valuer information and assets covered under the same. Valuation Report is available.
- Asset Repair
Asset repair can maintain the software. Complete repair history of sent and received assets with repairing cost, date of repair and work done can be kept in the software with the option to generate an acknowledgment for record keeping. A reminder alert is sent by software regarding assets sent for repair until they are received.
- Asset Relocation and Tracking
An asset can be easily relocated and tracked by using this option. A complete history is maintained in the software about relocation along with an option to add any relocation cost, relocation date, select user, location, department, custodian and more. Also one can attach relocation document.
- Purchase Order
A purchase order can be designed and printed from the software. It can be downloaded and email from the software.
- Asset Split
Assets can be split into different parts with values split equally.
- Asset Shift
Asset Shift wise depreciation as per Companies Act 2013 is calculated. Additional depreciation is automated calculated on the basis of shift assigned to the assets.
- Asset Labels
Asset labels with Asset Name, Asset code, Location, Department, User, and additional information can be printed from the software on one click.
- Asset Card
Complete current status can be viewed on the asset card, it can be printed from the software. The details such as asset name, asset code, location, department, complete depreciation history are available on the asset card.
- Barcode Generation
Yes, Barcodes can be designed and generated from the software as per requirement using the option and printed using a standard normal printer.
- Asset Audit
This option helps in conducting a physical verification of the assets through the barcode scanner. One needs to attach Barcodes to assets prior to carrying audit. Once barcodes are attached and entered in the software against assets. Through barcode scanner, all scanned barcodes data can be imported in the software through predefined excel, as barcode scanners only read no’s. One gets matched and unmatched assets report, which can help in tracking the unmatched assets found in the software but physically not located with details, that saves a lot of time. This is a unique point in the software.
ARE BARCODE AND QR CODE GENERATED AND SUPPORTED BY SOFTWARE?
The answer is Yes, QuickAsset – Fixed Asset Management Software generates and supports 2D Barcodes, 3D Barcodes, QR code and all other types of barcodes.
WHAT TYPE OF BARCODE PRINTER AND SCANNERS DOES SOFTWARE SUPPORT?
The fixed asset management software is compatible and works great with all major brands like Motorola, Argox, Zebra, Toshiba to name few. In case of any other query regarding barcode printer and scanner do get in touch with us.
WHAT DEPRECIATION METHODS DOES SOFTWARE FOLLOW? DOES IT SUPPORT FOREIGN BOOKS? IS IT A FIXED ASSET MANAGEMENT ACCOUNTING SOFTWARE?
The fixed asset management accounting software by default follows the Indian Income-tax Act, 1961 and Companies Act 2013 depreciation rules. It also comes with an option to create additional books wherein foreign books can be created and maintained with different depreciation year and rates supported. E.g. US GAAP depreciation.
CAN OUR EXISTING FIXED ASSETS DATA BE EASILY MIGRATED IN THE SOFTWARE? WE MAINTAIN DATA IN EXCEL CAN WE IMPORT THE SAME?
Yes, your existing fixed assets data can be easily imported in the software using our predefined excel sheets.
WHAT ALL REPORTS ARE AVAILABLE IN FIXED ASSET MANAGEMENT SOFTWARE?
Various reports are generated from the software which is mention below. These reports can be filtered as required date wise and data-wise as when needed by the user can be exported to excel.
- Asset Master Report
- Asset AMC Summary Report
- Asset Insurance Report
- Asset Verification Report
- Asset Valuation Report
- Asset Purchase With Voucher Report
- Asset Manufacturer and Warranty Report
- Asset Repair Report
- Relocation And Tracking Report
- Asset Split Report
- Cost Break up Report
- Asset Details With Custom Fields
- Purchase Order Report
- Custom Report
- User Track Record Report
- Asset Addition Report
- Asset Sale / Discard Report
- Income Tax – Depreciation Report
- Profit & Loss Report
- Asset Write Off Report
- Fixed Asset Register Report
- Fixed Asset Schedule Report
- Price Adjustment Report
- Work in Progress & Other Cost Report
CAN ONE GET COMPLETE FIXED ASSET REGISTER FROM THE SOFTWARE?
Yes, the software gives a complete fixed asset register which can be exported to excel.
CAN WE GET FIXED ASSET MANAGEMENT SOFTWARE FOR FREE?
Yes, we do provide free demo session as and when required by the client.
DO WE GET REMINDERS ALERTS FROM THE SOFTWARE REGARDING ANNUAL MAINTENANCE CONTRACT (AMC), REPAIR ETC?
Yes, the software sends a timely reminder email regarding Annual Maintenance Contract (AMC), Insurance, and Repair alerts, Asset Expiry automatically prior to the scheduled date of completion. It is a unique point in the Fixed Asset Management software.
DOES SOFTWARE HAVE the OPTION TO ATTACH DOCUMENTS?
One can attach unlimited documents in QuickAsset software. ZIP, Excel, PDF, Images anything and everything can be uploaded in the system against appropriate entry.
CAN WE TRACK RELOCATION OF FIXED ASSETS? IS IT A FIXED ASSET TRACKING SOFTWARE?
Yes, you can track complete relocation of assets in the software and can get a complete relocation tracking history on the report. It is a complete fixed asset tracking software.
DOES SOFTWARE HAVE USER TRACK REPORT, ACCESS CONTROL, AND USER RIGHTS?
Yes, the software has all the above option it allows one to create page wise roles and assign to users having different user id and password to login into the system. The software also provides a user track report.
DOES SOFTWARE HAVE BACKUP OPTION?
Yes, the software has a backup option.
HOW CAN WE SEE DEMO OR PURCHASE SOFTWARE?
For demo or purchase, you can get in touch with us on 7021507157. Or email: sales@qelocityindia.com
CAN SOFTWARE BE USED FROM MULTI LOCATIONS AT A TIME?
Yes, it can be self-hosted. It is completely browser software. Can be used from multi-location, For more information regarding software please get in touch.
DO YOU PROVIDE ASSET MANAGEMENT SOLUTIONS AND SERVICES?
Yes, we do provide asset management solutions and services. The service includes asset tagging and data recordkeeping services. To know more or for requirement do get in touch with us.
For demo please call or contact us now: Enquiry Form
