Fixed Asset Management
Full lifecycle fixed asset management with depreciation and barcoding

Fixed Asset Management Software

Summary

  • Asset Register
  • Asset Lifecycle - Procurement to Disposal
  • Depreciation and Asset Accounting
  • Barcoding
  • Planned Maintenance and Work Order Processing
  • Configurable
  • Scalable to millions of assets and hundreds of users
  • Browser Based
  • Hosted SAAS or Locally Installed
  • Compare IFRS, US GAAP, UK GAAP and Canada GAAP side-by-side

Overview

Correct management of Fixed Assets can have a substantial impact on the profitability of any company. Corporate taxation and insurance can be cut substantially by removing retired assets from the depreciation schedule. Manpower is saved through easy access to the corporate asset register, enabling staff to quickly locate and deploy assets as needed. Safety, risk and asset life are optimised through correct retirement and servicing, and money is saved through asset reuse, increased reliability and effective procurement.

xAssets Fixed Asset Management Software is a browser based Fixed Asset Register with functions covering Asset Management, Depreciation and Asset Accounting, Maintenance, Barcoding and Asset Lifecycle Processes including Procurement and Disposal.

The product can be used out of the box to deliver a comprehensive solution to Fixed Asset Management and Depreciation for SMEs and can also be extended if needed to meet the needs of large enterprises and customers with more complex requirements.

Screenshots

Any dashboard can be set to the home page, showing drilldownable summary charts and inventory. All charts, menus, links and scripts are configured to customer requirements.$Bar charts and pie charts are supported in all queries$Assets can be shown on a location map in any query$List of recognised primary software titles on a discovered computer including date installed, date discovered and date uninstalled$Asset history records every change to every asset by user and date$Images and any kind of document can be attached to assets, incidents and most other data entities in the database$Windows servers, auto run programs, patches, software keys and many other values are collected by discovery and by SCCM integration$Queries can be configured to run in a context, which leads to specific functionality relevant to that query and the surrounding workflow$Asset editing forms can be specific to category and user group and can be configured to requirements$IMACS reporting is fully supported - Installations, Moves, Adds and Changes (IMACS) reports on all changes to asset infrastructure between defined dates. These reports (and any other report in the system) can also be issued through email alerts as email text content or as email attachments$Inter asset relationships are auto discovered and represented in the system. Relationships supported include PC-monitor, Computer-software license, VM host to guest, Sql Host to Sql Instance, Containment, Backup, Dependencies, etc and additional relationship types can be added and discovered$Barcode printing is configured the same way as other reports and sent to a label printer. Alternatively preprinted barcodes can be used$Side by side comparison of financial books gives visibility of the differences arising from differing depreciation formulae required by the various standards used$Depreciation can be calculated automatically on schedule, or run manually in each accounting period$Depreciation by Category and Cost Centre report gives a detailed view of the asset purchase amounts and net book value in the reporting period$List out the formulae (configurable) attached to each asset as part of the process to check how depreciation was calculated$Locations and other reference data items can be stored in tree structures to properly reflect the structure of your business and its standardised reporting structures$The purchase order entry screen is configured to each customers requirements and ties in directly with line items being (or becoming) actual assets in the asset register, and work items being actual service entries in the service register$Transaction type posting rules can be defined using our standard model pictured here, or more complex scenarios can be achieved through our recognition and mapping engine
Image 1 of 19 - Any dashboard can be set to the home page, showing drilldownable summary charts and inventory. All charts, menus, links and scripts are configured to customer requirements.

Key Functions

xAssets Fixed Asset Management Software includes the following functions. All functions listed are Optional.

Fixed Asset Management - Asset Register Wheel Graphic
  • Asset register includes all lifecycle processes
  • Procurement covers request and PO approval
  • Receiving and Deployment Processes
  • Multi company/currency/book depreciation
  • Financials include valuation and disposal
  • Planned Maintenance with sensor feeds
  • Service Management and Task Management
  • Barcoding and handheld scanning support
  • Contract includes leases and warranties
  • Storage and Spares Management
  • Disposal and Obsolescence

Any function from any other xAssets solution can also be included, see the list of functions for more information.

Asset Lifecycle Processes

xAssets Fixed Asset Management covers the entire asset lifecycle from Procurement to Disposal, including all financial aspects of those lifecycle elements.

Fixed Asset Management Software Flowchart

Benefits

  • Get control of all corporate assets easily
  • Meet compliance objectives including SOX
  • Easy analysis of asset inventory
  • Cover all asset processes in one application
  • Management reporting and graphical drilldown
  • Get email notifications on any event
  • Covers all financials and depreciation
  • Management reporting and drilldown
  • Rapid deployment at minimal cost
  • Configurable to meet any requirements

Features

  • Fully Customisable Asset Register
  • Browser Based Client
  • Forms specific to Asset Type and Profile
  • Create New Asset Data Fields on Any Type
  • Intelligent Defaulting
  • Unlimited Books
  • Multi Company and Multi Currency
  • Barcoding and Scanning
  • Depreciation Formula Builder / Modeller
  • Supports US based MACRS depreciation

Financials

The discovery processes uses a wide variety of discovery techniques to collect Software information from assets across the network including the following:

  • Comprehensive Depreciation Calculation Engine
  • Model depreciation and amortization formulae
  • Track Total Cost of Ownership (TCO) of assets
  • Multi Company, Multi Currency, Unlimited Books
  • Unlimited Books
  • Each user can move forward and back in time
  • Supports unusual accounting periods and year end changes
  • Define posting rules to specify exactly how transactions are posted
  • Create Journals for Purchase, Depreciation, Disposals and Transfers

IFRS and US GAAP, US Tax, UK GAAP and Canadian GAAP

IFRS presents substantial challenges to global organisations and any company with operations in multiple countries or in countries which are adopting IFRS. xAssets helps companies to meet these challenges not only through established reporting across multiple books but also we can accept each client's own interpretation of IFRS, GAAP and Tax books and implement those interpretations for the customers through a short implementation project.

The financials and depreciation engine within xAssets Fixed Asset Management Software can be configured to meet any requirements surrounding International Asset Accounting, IFRS, GAAP and Tax calculations, and has the configuration capability, scalability and stability to meet the needs of mid sized and large enterprises.

Canadian Companies

Canadian companies are expected to move to IFRS in 2011 and they have to report IFRS and Canadian GAAP side-by-side in 2010. xAssets can meet these requirements and follow each customers transition, rules interpretations and reporting strategy with a short implementation project.

US Corporations

Some selected US corporations have to report IFRS from 2009, but most will wait until 2014, and that date is likely to slip. Still, it makes absolute sense to put flexible depreciation and asset accounting systems in place which can meet the evolving requirements of IFRS and the changes in GAAP as the authorities attempt to align GAAP to IFRS.

xAssets Financials and Depreciation engine is also capable of supporting all the conventions applied by US depreciation for tax book calculations. We fully support MACRS, ACRS, ADS, ACE and AMT. We can apply straight line MACRS, GDS via table lookup or GDS calculated, and we support partial month, mid month, whole of month, mid quarter, half year and any other conventions. These calculations can always be reported alongside GAAP, IFRS and other accounting books.

UK Companies

UK companies face fewer challenges because UK GAAP is similar to IFRS (but not the same!). However companies must still look for differences in componentisation requirements and there are potential differences in several areas including assets held for sale, treatment of asset impairment and revaluations, plus deferred tax on revaluation gains.

Configuration

xAssets Fixed Asset Management Software is based on the xAssets Enterprise Framework, which is the most configurable and scalable Asset Management Software available. All menu items, queries, profiles, integrations, data movements, triggers, business rules, reports, forms and processes can be configured from within the user interface. This flexibility makes the software ideal for large enterprises with complex requirements, whilst also providing the flexibility for SMEs enterprises to adjust the system to meet their exact requirements.

Pricing

The product is priced on the basis of a fixed server license fee, plus a per concurrent user or per named user license, and additional scalability pricing applies to very large implementations.

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xAssets Fixed Asset Management Software is available as both a Hosted "Software As a Service" application and as an onsite server installation installed within the customers firewall.

Configuration Options

To learn more about the functions and features available to IT Asset Management, Cloud Asset Management, Fixed Asset Management, Network Discovery and Enterprise Asset Management customers, Click Here