As your business
grows and acquires assets, it becomes increasingly important
to be able to track, monitor and report on their movement and
current location. Though this aspect of your business may appear
to be of little worth, apart from providing depreciation schedules
for taxation purposes, poor asset management can cost you dearly.
newspaper stories have highlighted cases where literally
millions of dollars worth of assets have simply vanished
from government departments and private business alike.
the Stamina Asset Register System can not eliminate
this problem, it does provide you with tools that greatly
simplify asset management and control.
system maintains multiple depreciation schedules, asset
groupings, locations, and of course details of your
existing assets. In addition to a "book" valuation
for your assets, an unlimited number of alternate valuations
can also be maintained, such as tax valuation, replacement
valuation, depletion valuation etc.
valuation method can have a unique depreciation schedule
associated with it, variable per asset, and have a separate
scrap value. The asset revaluation process can operate
on any or all valuation schemes, but entries are only
generated to the General Ledger for the book valuation.
asset acquisitions can automatically update the Accounts
Payable system with the necessary liability, and likewise
if an asset is sold an invoice can be automatically
generated in the Accounts Receivable System, and any
profit or loss on the sale is automatically transferred
to the General Ledger.
identification labels can be produced, which can incorporate
any asset information, like serial number, description,
location, group, and asset code. The labels can also
include a barcode for stocktake verification via PDE’s
movements can be recorded within a single accounting
entity, or across entities, in which case the necessary
entries are made to the General Ledger. In either event,
the system should be able to tell you exactly where
any item can be found.
is calculated automatically for each valuation method
at the end of each accounting period, but only the book
value is used to update the General Ledger, allowing
your Balance Sheets and P&L statements to take depreciation
expense into account.
and reports let you trace exactly how a current valuation
was calculated, or track the movement of an asset through
your organization, from initial purchase through to
eventual scrapping and replacement.
Stamina Asset Register can take the tedium out of this
important business activity, giving you more accurate
financial information and tighter control over your
for Asset Register System Flow Chart