FIXED ASSET MANAGEMENT SOFTWARE
IN DUBAI / ABU DHABI, UAE
Asset Tracking Software
Our Asset Tracking Software provides a central repository for all information on your assets and includes Asset Accounting, Tracking, Maintenance and Asset Leasing, fully integrated to your ERP Solution.
Whether you’re reporting to senior management, a government agency, auditors, donors and executive boards, or the IRS, you’re accountable for the status and value of your organization’s many fixed assets. Those assets can take the form of buildings, machinery, computers and other electronic equipment, office furnishings, even assets you build.Accurately tracking their varied lifecycles can be a daunting task—especially when there’s so much at stake.
However, 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.
Managing your fixed assets includes the following tasks
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Tracking each asset’s value, both from a tax and an accounting point of view
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Depreciating assets correctly using an appropriate depreciation rate and method
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Updating the replacement values of your fixed assets for insurance purposes
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Accurately recording any sale, disposal or loss of assets
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Maintaining an accurate fixed assets register which records information such as: date of purchase; date of disposal; purchase price; accumulated depreciation; net book value etc.
Our Fixed Assets module automates all these processes for you. Once you provide the initial information, the system takes over and manages your assets for you. One of the realities of fixed assets processing is that companies frequently change depreciation rules as legislation allows and as company policy changes. Some changes are retroactive to when you purchased the asset. Fixed Assets Module calculates its values dynamically from the start of each asset’s life, which makes retroactive changes simple. Imagine the time required to accurately programme all this yourself into a spreadsheet!
General Features
CTS’s asset tracking software provides a central repository in which detailed information on all assets, from IT equipment to office furniture, can be recorded. It offers the following advantages:
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SQL database
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Facilitates controlled access for all authorized users
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Prevents discrepancies that may otherwise arise between departments
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Provides real time access to asset descriptions and Asset Codes
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Provides information concerning location history, condition of the asset, asset issue, asset returns, maintenance and disposals
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Enables effective asset reallocation to minimize unnecessary purchases
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Brings immediate savings, both in the time spent and the cost associated with the tracking process, making more frequent audits a viable proposition
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Promotes a far more efficient use of resources and facilitates the effective management of assets
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Tracking each asset’s value, both from a tax and an accounting point of view.
-
Depreciating assets correctly using an appropriate depreciation rate and method.
-
Updating the replacement values of your fixed assets for insurance purposes.
-
Accurately recording any sale, disposal or loss of assets.
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Maintaining an accurate Fixed Assets Register which records information such as date of purchase, date of disposal, purchase price, accumulated depreciation, net book value, profit or loss on sale etc.