Fixed Asset Management

Asset management in businesses involves managing and optimizing a company's assets to achieve the highest efficiency. This includes managing fixed assets (such as machinery and equipment) and current assets (such as inventory and cash).

Regular inspections and maintenance of fixed assets help prolong their lifespan and maintain operational performance. Managing current assets helps businesses maintain cash flow and optimize working capital.

Effective asset management not only helps save costs but also contributes to increased productivity and profitability. Understanding the value of assets, knowing when to upgrade or replace them, and seizing investment opportunities are crucial factors in successful asset management.

Daisy Fixed Asset Management - DS.FAM

Targets

Proper Depreciation of Fixed Assets

Firms having multiple assets located in different tax zones can insure business profitability by paying as little as possible for investments in lands, buildings, plant machinery and other fixed assets.

Facilitates Audit Support

The data is recorded accurately as they are tied with the physical asset inventory, which is updated annually; providing accuracy at all time.

Reducing Unnecessary Purchase

Increasing the performance of idle equipment and increasing their performance can save expenditures used to purchase new equipment

Main Functions

Asset Master

The application classifies and records all asset status, availability, release and reassigning status which ensures a clear record to manage company resource.

Asset Allocation Status

The application shows assets with their allocation status which ensures easy management of reassignments of assets.

Accurate Profit Calculation

Fixed assets management allows to maintain accuracy in the calculation of profits and losses. Therefore, selling fixed assets or purchasing assets can be determined easily reflecting the process of depreciation and the available assets.

Easy Depreciation

The system manages asset depreciation with standard depreciation methods which makes recalculating, adding additional depreciation, back depreciation easy.

Compatibility

The application can identify various asset tags using different technologies such as RFID tags, barcode tags, and NFC tags. This allows to make use of existing resources without having to make changes.

Integration

DS.FAM is an independent solution but still has the capability to provide data communication with other existing business software applications such as Accounting, Inventory, Human Resource systems, etc.

Reports & Analysis

Asset Depreciation Analysis

Asset depreciation dictates the amount of an asset at the current moment after depreciation. It shows the updated total cost of an asset making the company aware of the condition of the asset at current times.

Distributed Asset History

The asset history shows the detailed description of the assets past records- opening value, closing value, duration, depreciation value and so on.

Asset List Record

This report lists assets or products of a company with its serial number, product type, status, category and so on. The details of each product ensures inventory levels and cut costs of purchasing new products/assets.

More Information

User can add new Item (category), new product and add new purchased assets. Asset List and Ledger will be updated for each transaction of asset addition.

DS.FAM enables group reports of assets by Product cost, Class, Provider, Branch and Department etc.

Asset Tracking (Bar-Code , Serials, Register) is flexible solution that offers complete visibility in to the location, Condition and quantity of your assets.

DS.FAM estimates Asset depreciation expense for the periods for which you project depreciation based on the financial information for your existing assets at the start of that period. The projection includes additions, transfers, and reclassification transactions you perform in the current period.

DS.FAM provides their users the feature of classify their Asset. Tangible (Land, Building, Machines, Plants, Furniture, Computer, Vehicles Etc) and Intangible (Patent, Software Etc)

Assets can be assigned to employees or users to give them the responsibility of managing and maintaining those assets.

Warranty Information can be effectively assigned for purchased assets.

Disposal Method for Asset which can be generated for two purposes. Sales purpose disposal and wastage disposal

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