Abel Fixed Assets provides for effective management and accounting for your fixed assets. Abel Fixed Assets takes the complexity out of managing fixed assets. All transactions within Abel Fixed Assets are automatically registered in the General Ledger. Depreciation is automatically calculated a year in advance, and any adjustments for depreciation are accounted for automatically, so that the true value of assets is always known and correctly shown in the balance sheet.
Like all of Abel s functionality Fixed Assets is fully integrated with the General Ledger, which allows you to view accurate information in real-time and build and execute reports as soon as you want to which is usually immediately.
Depreciation for accounts and for tax is seamlessly handled in Abel. And you can choose which depreciation method is appropriate for your assets. These may be specified by law or accounting standards, which may vary by country. There are several standard methods of computing depreciation expense, including fixed percentage, straight line, and declining balance methods.
At Abel we know that managing assets requires you to location and financial position of each item quickly and effectively. Utilizing the extremely fast remote functionality you can view the complete financial history of every asset for both accounting and taxation depreciation methods. Abel allows you to remotely interrogate the system and drill down to transactions and line levels to see where supplier invoices have been generated and read notes or view associated approvals.
Abel ERPs scenario analysis allow you to effectively consider the implications in changes in depreciation rules, the changes in the nature of assets while not impacting on activities today. Forecasting how assets will be viewed over different time periods allows you to consider where the organisation may need to address risks before the turn into problems
If you have complex assets managing a large number of assets is made straightforward utilizing Abel's Corporate view structure and asset registry. It is straight forward to sort assets into logical areas such as vehicles, plant, office, etc. Abel ERP also utilizes its fully integrated mobile capability to monitor and maintain the service and maintenance requirements of those assets wherever they may be locate.
Each asset may be assigned a serial number and GPS location. This enables you to report these details on the asset list. Assets can easily be moved between locations either individually or in bulk, ensuring depreciation information is always accurately reflected in the correct profit center (or branch, department, division, etc) in General Ledger. Also service maintenance and repair work can also be attributed to each assets. The full history of the asset is collated and all documents associated with the asset are held in a central and readily accessible repository.