The best ERP Assets Register provides up-to-date, real-time information regarding the value of all assets within the organization by keeping a record of depreciation and current asset values, and a facility that evaluates the remaining worth by tracking income and expenditures derived from assets.
You will choose an ERP with the Assets Register system which enables you to manage and control your non-current assets in terms of wearand-tear depreciation, book value, disposals, additions, and re-valuations. The information contained in the Assets Register can integrate to the General Ledger, or be run standalone. You can optionally record costs incurred in the maintenance of assets against the individual asset concerned. These costs can be broken down over a number of expense codes.
Extensive valuations and revaluations can be performed on your assets and an import facility enables you to generate your assets register by importing asset details created by 3rd party application software.
The Benefits of 1st Class Assets Register module within an ERP system:
- Maintain a register of all assets and their locations
- Track expenses incurred for any asset
- Calculate book and tax-based depreciation
- Track maintenance history for each asset
- Obtain estimates of the remaining useful life of an asset
- Report on disposals, revaluations and/or acquisitions
- Provide detailed reporting and screen queries