Asset Management and Inventory
Fixed asset and inventory management
Fixed asset management is a method of continuously managing all of an organization's or company's assets, whether tangible or intangible. This management also involves tracking accounting depreciation over time.
Fixed asset management can be defined as managing all of a company's assets, including tangible assets such as IT hardware, industrial equipment, furniture or real estate as well as intangible assets (patents, licenses, …) and tracking their depreciation for statutory accounts, cost accounting, consolidated accounts...
Why manage my fixed assets:
- A major economic and regulatory issue : Knowing the exact status of its fixed assets is not a matter of choice or convenience for an organization or company. It is an obligation imposed by an increasingly strict legal and regulatory framework. Good fixed asset management can also substantially improve a company's profitability.
- A strong regulatory requirement:As markets grow more complex and audits need to be made easier, new standards now apply to most large organizations and private and public companies, both nationally and internationally.
On top of accounting standards comes the need to clarify the company's accounts to facilitate controls and audits. It is also important to note that the company's balance sheet engages the liability of the statutory auditor as well as the company's executives.
It is therefore essential:
- not only to have an accurate and reliable view of the company's assets at balance sheet date,
- but also to continuously track the various fixed assets and their book value through depreciation tracking, in order to be prepared for any eventuality, in particular a legal or tax obligation
Looking for a fixed asset management solution to comply with tax and regulatory requirements? Our solution AMSOFT will meet all your functional and technical needs.
Software features AMSOFT
- Customizable user account management,- Accounting and tax calculation of depreciation and impairment,
- Tax tracking of assets (mandatory statements required by the tax authority),
- Tracking of all company assets (class 2, rentals, leasing, grants, expenses),
- Management of full or partial disposals,
- Inventory management and reconciliation by physical identifier,
- Hierarchical asset lists across multiple configurable analysis dimensions (sections, locations, …),
- Customizable user interface,
- Built-in report generator,
- Import / Export of all data types,
- Automatic generation of depreciation entries,
- Management of documents related to fixed assets (card, photo, XLS, scanned invoices, …),
- Automatic periodic backups,
- Inventory counting with optical reader (PDA with barcode or RFID identifiers),
- Automated reconciliation and updating of the physical inventory from the identifier (barcode or RFID),
