Alfie Asset

Managing Your Assets

Depreciation Calculation

You can manage your assets throughout its entire life cycle and simplify your accounting procedures. Your fixed assets can be acquired, depreciated, Added, Sold, disposed of or transferred to other assets. Each asset can be set up for several parallel life cycles that can be used for independent recording of asset values for external accounting, tax, management accounting, consolidation and other purposes. Creation of different types of asset transactions is available.

Fixed assets can be depreciated in a two way’s Depreciation methods include ‘straight line’, ‘reducing balance’, these are common for all kinds of asset and showing as monthly depreciation value. The systematic allocation of the depreciable amount is of an asset over its useful life.

Purchase Asset Register

Disposing of Fixed Assets

Gives you a detailed information about the purchases made during the year along with cost break – up, manufacturers / suppliers name and address etc.

Alfie Asset provides disposing of asset with current value and also calculate depreciation to easily find out if we can get profit or loss on asset disposal. Accordingly we can post voucher in the system about accounting effect.

Accessing Information

Alfie Asset Reminders

You have instant access to in-depth information, which you can choose to include in reporting. Customized and number of standard reports are available in the system.

Alfie Asset gives four types of reminders like Asset AMC, Asset Insurance, Asset Warranty and Asset In-Out Track reminder. We can stop or show detaisl of all reminders on the first screen itsself.

Alfie Asset Maintenance Plan

Alfie Asset Expenses

Alfie Asset can create maintenance plan as per selected criteria and can generate asset‘s plan as per that maintenance plan. Also ,it can track if the plan was done and if there is any problem regarding that Alfie asset can do some corrective action. There is also break down transaction to monitor all problems related to a particular action.

Alfie Asset is tracking of asset expense which values should be capitalized for asset transaction purpose. We can increase book value and also depreciation effect.

Alfie Asset Sales Part

Alfie Asset Verification

Alfie Asset gives you detailed information about the Sales part made during the year along with cost break – up, customer name like if we replace car’s batteries then old given batteries entry will be sales part of asset and new value should be expense of asset. So we can track and manage the account accordingly. This transaction will reduce value of asset book value.

Physical verification of assets is a very important objective. The system can not only help keep a record of when the asset was last verified, but can also maintain the status of the asset at that time. So later on, a report can be taken out wherein you can see that some Printer which are in a Not-Working Status since 2 years can be scrapped.

Using Information

Alfie Asset Reports

Using Alfie Asset you are able to save and attach electronic images of documents, pictures and other records to individual assets. This is a significant time saver that makes it faster and easier to manage assets in a secured environment.

Various types of Reports are also generated from the system. Cost and Depreciation details can be available individual asset wise, Department wise, Location wise, Unit wise etc for cost analysis and also tracking of asset.

Alfie Asset tracking

Alfie Asset Merge

If an asset is transferred from its permanent location to a temporary location, the movement can be recorded and reported to recall procedures. The lending dates, locations and the responsible user are included in the record. And we are tracking the asset by showing reminder of it.

In Alfie Asset you can merge two assets into one asset. You can maintain this two asset as new asset and all related effect can be done to this asset also.

Quantity Wise Spliting

Asset Wise Spliting

Here you can split an asset code having more than one Quantity into different asset codes. This split may be required because at the time of purchase the entire quantity of purchase was for one department but later on some of them are transferred to other departments. For e.g. 5 chairs purchased for Rs.10,000/- were used by Cafeteria but now 2 of the chairs are to be transferred to Security and 1 to Front office. So the Asset Code can be split into 3 asset codes, and their cost and accumulated depreciation will be pro-rated in the ratio of 2:2:1

Here you can split one asset into multiple assets spanning over different Group codes. e.g. A Car along with a music system was purchased for Rs 23,00,000/-. The Car is now to be sold but the music system is to be retained. Here the system enables you to split the Asset into two and assign the Cost and Accumulated Depreciation breakups manually.