AssetExpert

Effective Asset Management System

Improving Your
Business Today

HRMThread is a magic wand for me! ------------------------------------------

Nimritee Kadam HR Manager - NMAH & Co.

I can highly recommend HRMTHREAD as a reliable source for all your Payroll & HR needs. Great services, easy to use, and even has mobile capabilities! Great company with a great Product! ------------------------------

Mr. Jayesh Menon Kritva Technologies Pvt. Ltd.

AssetThread - Effective Asset Management System

AssetThread is a Fixed Asset Management Software designed to Track & Manage Fixed Assets. This software will help you in eliminate drudgery and cost of maintaining Fixed Assets. It will help you in ensuring that all assets are properly insured, are under AMC. It will help you in calculating correct asset valuations and accurate depreciation deductions.

Using AssetThread, you will have increased control over assets and have access to reliable information for planning new fixed assets. Required Information is efficiently available, giving you unprecedented control of entire companys fixed asset inventory.

Take me to AssetThread Website

With AssetThread you can perform complex depreciation calculations quickly and simply, and generate accurate, comprehensive reports. AssetExpert is comprehensive browser based Software which can meet almost all asset-centric requirements. AssetExpert encapsulates the complete Fixed Asset Lifecycle Management typically required by todays Accountants and Asset Administrators.

AssetThread has a full security model, allowing administrators to enable or restrict users from performing specific functions. Permissions are assigned by user, and include add/edit/delete controls etc. In addition, administrators can define which locations are visible to each user.

Fixed assets affect myriad aspects of financial planning, reporting, and control. Many discrete, complicated, and time-dependent tasks comprise fixed asset management, and the slightest errors can have drastic effects. Automating these tasks in a way that saves time and money (without sacrificing accuracy or control) is a critical need for growing businesses. And that’s what AssetExpert delivers. With AssetExpert, you’ll have complete control over the entire fixed asset lifecycle — from acquisition to disposal.

AssetThread streamlined approach will save you hours and put you in control of your fixed assets.

Depreciation Methods

Most commonly used depreciation methods like SLM, WDV etc are inbuilt in to the systems

Accounting Books:

By default Income Tax Book & Accounting Book is provided in the software. If required additional two books can be created & managed. Accounting period of these books may be different for each other.

Block wise classification of Assets for Income Tax Purpose:

Assets are put in predefined income tax blocks for calculation of depreciation as per income tax act.

Asset Category:

Assets can be categorized in user defined asset categories for books other than income tax act.

Arrangement of Assets:

Assets can be arranged Location wise, department wise, cost centre wise, custodian wise for each asset.

Details of the Assets:

General Details of Assets: Various Details of Assets like Asset Code, Asset Description, Asset type, Inward Type, Ownership type, Purchase Date, Cost, Cenvat, Forex Loss, Estimated Life, Physical No, Barcode details can be maintained.

Depreciation Rates:

Asset Depreciation rates along with accrued depreciation can be maintained yearly for each bookOther Details: Serial Number, Chassis Number, Document Date, Document No., Model No., Warranty Type, Color, Size, Shape, Brand name etc can be maintained. Asset images for each asset can be put for asset identification.

Voucher Details:

Unlimited voucher details can be entered for each asset for easy asset accounting. Voucher details include voucher information, P.O. Information, Bill details etc.Manufacturer & Supplier Details: Manufacturers and Suppliers details can be entered in the software at the time of acquisition.UDF: Unlimited User defined fields can be created for each asset.

AMC Details:

AMC details like document no, document date, AMC from & to date, Service provider, AMC amount can be maintained for each asset.Insurance Details: Insurance details of each asset like Insurance provider, Insurance coverage, policy amount, premium etc. can be maintained.

Market Valuation & Physical Verification

Market Valuation & Physical Verification records can be put for each asset.Write-off Details: Write-off, adjustments if any can be accommodated.Shift details: shift wise & day wise usage details for each asset can be recorded for accurate calculation of depreciation.

Sale / Discard:

Sale/Discard of Assets can be recorded and any profit or loss can be monitored.

Relocation:

Assets can be relocated based on various criteria like location, cost centre, custodian, and asset user.Asset

Split:

Asset can be splitted in to n parts. This process splits the cost of the asset and the accrued depreciation in given ratios.

Depreciation Calculation:

Depreciation calculation for each book and for selected year can be accomplished with a click of a button. Depreciation calculation takes care of block system of assets & related rules and regulations while calculating depreciation for Income Tax Book. This process also calculates the depreciation in accordance with rules & rates specified by the user. Depreciation calculation builds the database of closing balances of the assets which are automatically recognized as the opening balance of the next year for respective books.

Reports:

Acquisitions
Acquisitions with Voucher details
AMC / Insurance
Physical Verification
Market Valuation
Write-off/Adjustments
Sales & Discard
Fixed Asset Register
Fixed Asset Schedules as per the book
Group by Asset Type, Asset User, Category, Cost Centre, Custodian, Department, Inward Type, location & ownership type.
Fixed Asset Schedule as per Income Tax
Fixed Asset Schedule as per ITR 6
Form 3CD Extract
Depreciation Calculation Report
Depreciation Calculation Report – Income Tax Act
Depreciation Comparison Report
AMC / Insurance / Warranty Expiry Report
All reports are available in PDF Format

Reminders:

AMC
Insurance

WarrantyMulti-user / Multi Company / Multi Location with location wise rights manager & complete audit trail of each user.

Technological Features:

Complete Web based software based on ASP.net technology using IIS & MySQL as Backend. Software can be hosted at one place and can be operated across the locations.