Fixed Asset Management Software
- Asset Register
- Asset Lifecycle - Procurement to Disposal
- Fixed Asset Management
- Consolidate data from all sources to provide a single holistic repository
- Depreciation and Asset Accounting
- Planned Maintenance and Work Order Processing
- Scalable to millions of assets and hundreds of users
- Browser Based
- Cloud hosted or on-premise
- Compare IFRS, US GAAP, UK GAAP and Canada GAAP side-by-side
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 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 medium sized enterprises and can also be extended if
needed to meet the needs of large enterprises and customers with more complex requirements.
xAssets Fixed Asset Management includes the following functions. All functions listed are Optional.
- 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.
- 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
- Fully Customizable 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
The financials engine offers flexibility to implement depreciation calculations based on any mathematical formula and the formulae can
include calls into scripts and functions to ensure that any calculation requirement is met in an efficient way. Underlying transactions
are stored individually and once periods are closed transactions can no longer be changed (but adjustments can be posted into future periods).
This ensure the financial integrity of the asset register in an industry standard way.
- 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 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 have moved to IFRS on the 1st January 2011 and they now have to report IFRS and Canadian GAAP side-by-side.
xAssets can meet these requirements and follow each customers transition, rules interpretations
and reporting strategy with a short implementation project.
A description of IFRS requirements for US Corporations is here.
Although IFRS is in general not a strict requirement in the US, it makes 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 US GAAP to IFRS.
This aids potential foreign acquisition scenarios and the benefits of IFRS reporting can be gained even though the rules are not strictly enforced.
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
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.
xAssets Fixed Asset Management is based on the
xAssets Enterprise Framework, which is the most configurable
and scalable asset management soltions 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
medium sized enterprises to adjust the system to meet their exact requirements.
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.
Click Here to get a Quote.
xAssets Fixed Asset Management is available as both a Hosted "Software As a Service" application and
as an onsite server installation installed within the customers firewall.
To learn more about the functions and features available to
IT Asset Management, Cloud Asset Management, Fixed Asset Management and Enterprise Asset Management customers, Click Here