Why Managing Fixed Assets is Required In Tally ERP 9?
Why Managing Fixed Assets is Required In Tally ERP 9?
Most organizations face a tremendous challenge in tracking & monitoring their location, fixed assets condition & depreciation. This Module is a systematic approach for establishing effective fixed asset management by fortifying the register of fixed assets. This offers the data visibility required to recognize operational efficiency in many areas and avoid the chances of non-compliance issues with financial, tax, and regulatory.
Fixed asset accounting and management are some of the very important functions of any business entity but unfortunately, there is hardly any well-designed practical software solution available in the market which takes care of the fixed asset accounting which is compatible with real-time business processes. As a result, most of the business entities maintain fixed asset-related information in excel spreadsheets.
The software is designed to replace these excel based asset information spread-sheets by Tally ERP 9 based integrated system which captures the fixed asset related prevailing business process data in tally backup database and generates all the required fixed asset management reports as per Government statutory and managerial requirements directed to fulfill the requirement of the auditors, accounting standards and managerial needs in business practice and scenario on a real-time basis.
Primary Requirement
Requirement explanation Capital Purchase records can be recorded in the system with the management complete details. Like, supplier from whom it was purchased, Annual maintenance details and where the asset needs to be shipped.
Capital depreciation based on the method of depreciation tagging at the item level, the user can record the depreciation details in the system after some time. Tally on Cloud functions as a multi-tiered application that operates seamlessly over the Web in a distributed business environment through various business locations or branches that offer you worldwide access. Capital disposal. Once the life of the asset is over and needs to be disposed of. The same can be captured in the system. Custodian details system provides the capability to record the name of the custodian under whom the asset is currently held. Similarly, the location where the asset currently resides.
Managing assets
Knowing the exact location of assets and their value will help you plan the capital investments and disposal more effectively. Some major tasks for an asset management organization are managing assets, minimizing taxes and preparing for future capital purchases or disposal. We help you perform the same with the utmost efficiency and effectiveness. Fixed Assets Module in Tally will replace these excel based asset information spread-sheets by tally security-based integrated system which captures the fixed asset related prevailing business process data in Tally.
ERP 9 database produces all necessary fixed asset reports according to the statutory and managerial requirements of the Government to meet auditors’ requirements, managerial needs and accounting standards in business practice and scenario on a real-time basis. The application was developed as add-on Tally Online accounting software and operates seamlessly as an extended ERP functionality with Tally ERP 9 and is fully integrated and interlinked as an extended ERP functionality with Tally ERP9 modules like inventory, accounting, and payroll.
Track, Manage and comply with fixed assets across multi-company, multi-location and multi-branch with our fixed assets register, that’s ready to use in Tally ERP 9. New Access Technologies offers comprehensive fixed asset related solutions in Tally ERP 9 for organizations to have complete control and transparency of their assets. It also helps to evaluate the exact asset count, identify asset location and how these assets change over time. The companies can also track each fixed asset details which can help in preventing the asset misusage.
To match with the future trend of tally on cloud, get your tally on cloud plan today from Tallycloudhub.com.
