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Managing your company’s fixed assets can be tedious and time-consuming. Fixed Assets are physical items such as desks, computers, cars, machinery, etc which you acquire to run your business. As you use assets, they depreciate or become obsolete. You can legally expense depreciation in your accounts for tax purposes.
In order to manage your fixed assets, each asset value must be tracked from both a tax & and accounting point of view. Depreciation rate & methods must be used properly in order to depreciate assets. Replacement values must be up to date, for insurance purposes. Any sale, loss or disposal of assets must be tracked. Important information such as date of purchase, date of disposal, purchase price, accumulated depreciation, and also net book value.
Pastel Evolution will be able to automate them all for you. Once the initial setup is done, Evolution takes over for you.
Key Features
· Record Assets
i) Asset Types
ii) Cost Centre and Location
iii) Supplier
iv) Purchase Price, Insured Value, Residual Value, Scrap Value
v) Asset Serial Numbers
· Depreciation Methods
i) Straight Line
ii) Reducing Balance
iii) Plant and Machinery
iv) Immediate Write-off
v) Units of Usage
vi) 0% Depreciation
· Capex Budgets
· Reports
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