Property Plant and Equipment Companies Act Depreciation calculation with  Fixed Asset Software With Barcode Scanner Verification

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Fixed Assets & Depreciation

Fixed Assets Fixed assets are a company’s tangible, noncurrent assets that are used in its business operations.

Depreciation is an accounting method of allocating the cost of a tangible asset over its useful life and is used to account for decline in value. Businesses depreciate long-term assets for both tax and accounting purposes.

Why asset Management required

Allows the company to keep track of all assets. Asset management allows the organization to keep track of all their assets. It can tell where the assets are located, how they are used, and when changes were made to them. The data from the asset management solution can ensure that asset recovery will lead to better returns.

Manage assets from different locations in an accurate and effective manner. Helps monitoring insurance needs.

You can save money on maintenance. Maintenance is a business expense that can cut into the profits of the company. Overdoing it can bring significant costs. On the other hand, under-maintenance can lead to reduced productivity from the records and books of the business.

 

Asset management can also be used to make sure that thedepreciation rates are accurate.Regular assessments of the assets will ensure that the financial statements of the business are accurate.

Asset recovery is automatically reflected in an asset management system. Once assets are scrapped or sold, the said assets will be removed.

It brings more efficient operation. Allows the implementation of a risk management plan. Asset management also includes the management of the risks connected with the use and ownership of the assets.Properasset management can help optimize your operations that include the planning, resources use, and in the implementation of the management program. Helps in identifying ghost assets. More often than not, ghost assets were items that have been inaccurately recorded.

Firstly lets see the masters for enabling depreciation calculation under both the acts

Companies Act Group Master

Excel upload facility for Legacy Data

Excel format provided for easy and correct data uploading

Excel template for uploading

Assets gets uploaded in just a click

Location Master within a branch

After setting the masters start with entering details of assets

Enter details of assets

 

Asset Tag Printing Facility

Excel Transferrable list of Assets

Assets sold detailed recording

Fixed Assets sold Excel Transportable list

Automatic Depreciation Calculator- Just a click here

Excel Transferable list of depreciation calculated

Depreciation Chart as per CA, 2013

Depreciation as per schedule II of Companies Act,2013 – detailed

Depreciation as per schedule II of Companies Act,2013 – Summary

Facility for entering any revaluation of asset

Sold Asset Register

List of Additions

Fixed Asset Legder

Fixed Asset Register-Department wise, Location wise, Owner Wise

Asset Reconciliation Android App

Sticker on Assets being verified by Bar
Code App

The App Verifies the asset physically and the difference in booked and verified assets can be traced  through Tie up report

 

Watch  the PPT to watch this complete cycle

[6:34 pm, 20/09/2023] SunPlast Vikas 2: Dear Team, We have successfully implemented the Fixed Asset Module (Co. Act Part). We thank for your timely support that you extended to us during implementation and transition. Thanks.?

[10:24 pm, 20/09/2023] Mr Sanjay Bansal: Great ???
[8:33 am, 21/09/2023] Sangeet Kumar Gupta: ?

Successful Fixed Asset Software Implementation

 

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Congrats

Great News for those who want to implement Fixed Asset Softwares in their companies.

This is an independent software and is not linked much to main accounts module due to various reasons like individual barcoding, individual location, aggregation of installation expenses to the machine, and so on.

Open for Finsys customers upto 31-3-2024

and for open market from 1-4-2024

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Introduction of Sunplast

website : http://sunplast.co/

About Us

Sunplast Electronics Pvt. Ltd. Is A Part Of The Sunvoice Group, Promoted By Mr. Prem Gupta. Sunvoice Electronics Pvt Ltd. Started Its Operations In 1984 With Technical Guidance From M/S Itsuwa Shoji Kaisha Inc, Japan.

Sunvoice Group Has Four Manufacturing Facilities With Two Located In Delhi And Two Located In Noida. Sunvoice Has Been Providing Complete Speaker Solutions To Its Customers For The Last 25 Years Which Include Lg, Samsung, Videocon, Panasonic, Onida And Many More. Sunvoice Group Is The Largest Crt And Led Speaker Manufacturer In India Today With Installed Capacity Of 30 Million Speakers Per Annum.

With A Vision To Diversify And Start New Business Operations In The Field Of Plastics, Sunplast Electronics Pvt. Ltd. Was Setup In 2011. Sunplast Is A Plastic Injection Moulding Company Providing Total Moulding Solutions To Its Customers Like Tooling , Moulding, Assembly And Painting.

Sunplast Company Overview

Sunplast Is A Leading Tier-1 Supplier To Various White Goods Oem’s And Tier- 2 Supplier To 2w/4w Auto Oem’s. Sunplast Has A State Of The Art Manufacturing Facility Spread Over 6 Acres.

• Plastic Parts For Refrigerator, Washing Machine, Water Purifier, Air Conditioner & Air Cooler Made Of Gpps, Abs, Pc, Pp, Nylon & Many Other Engineering Polymers.
• Assembly & Paintable Body Parts For 2w/4w.
• Interior & Exterior Parts For Consumer Electronics Or White Goods.
• We Have Invested In Our Own Moulds And Started Manufacturing Crates Under Sunplast Brand.
• Centralised Conveyer For Material Movement From Shop Floor To Storage Area.

http://sunplast.co/services.aspx and http://sunplast.co/whysunplast.aspx 

Client base of Sunplast : http://sunplast.co/clients.aspx

 

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OUR SUCCESS KEYS – COMPETITIVE EDGES

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Action points

1. Implement this Fixed Asset Software in your factory, yes, this is legally good also. Helps in Compliances and ownership safety
2. Subscribe to our Youtube channel,
3. Yes, Technology helps

for Any Queries .. Contact us at Contact-us page

our other site : www.finsys.biz,

We are Proud of Our Association with Sunplast… working on Finsys ERP since 2015. ( This is a Good 8 years of close relationship already, and going stronger)

 

PPE Property Plant Equipment Fixed Asset Software from Finsys ERP. Oracle based PPE Property Plant Equipment, Fixed Asset Software for Depreciation, Barcode Scanner based verification. Finsys ERP