Key features of Fixed Asset Accounting Software
- Accounting entries & posting as per the applicable accounting standards.
- Automatic numbering based on group, date, etc. & preparation of labels, bar-codes and asset identification numbers.
- Reduced manual interference smooths the overall process and reduces chances of errors.
- Tracking the physical place of all movable and immovable assets by assigning GPS based chip recognition system & similar technologies, useful especially for organizations whose major block of assets consist of movable assets.
- Classification of assets by – a. Category b. Location c. Ownership d. Depreciation Category (as per taxation laws) e. Custom (as per need)
- Automatic alerts & notifications to the concerned department about repairs & maintenance schedules
- Regular updates ensure compliance with latest amendments in the laws.