Recent newspaper stories have highlighted cases where literally millions of dollars worth of assets have simply vanished from government departments and private business alike.

Though the Stamina Asset Register System can not eliminate this problem, it does provide you with tools that greatly simplify asset management and control.

The 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.

Each 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.

New 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.

Asset 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 if appropriate.

Asset 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.

Depreciation 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.

Enquiries 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.

The Stamina Asset Register can take the tedium out of this important business activity, giving you more accurate financial information and tighter control over your valuable assets.

Click for Asset Register System Flow Chart