The Manage Assets section provides a platform for registering and managing the firm's fixed assets. It allows you to record important information such as the asset's purchase price, location, department, insurance details and the relevant General Ledger (G/L) accounts.

Steps:

  1. Log in to the system.
  2. From the main dashboard, go to the Tools & Add-Ons module.
  3. Under the Local Fixed Asset Management section, click on Manage Assets.
  4. To register a new asset, click on the Add Asset button located at the top-left corner of the page.
  5. A form will appear. Complete all the required fields with the relevant asset details, including:
  • Asset Category – Select the appropriate category for the asset.
  • Asset Type – Select the specific type of asset.
  • Asset Name – Enter the name of the asset.
  • Asset Department – Select the department responsible for the asset.
  • Purchase Date – Enter the date the asset was purchased.
  • Asset Branch – Select the branch where the asset is located.
  • Make/Manufacturer/Model – Enter the make, manufacturer or model of the asset.
  • Serial Number – Enter the asset's serial number, where applicable.
  • Tag Number – Enter the asset identification or tag number.
  • Purchase Price – Enter the original purchase price of the asset.
  • Estimated Asset Life (Years) – Enter the estimated useful life of the asset in years.
  • Salvage Value – Enter the estimated value of the asset at the end of its useful life.
  • Warranty (Years) – Enter the applicable warranty period.
  • Description – Provide any additional relevant information about the asset.
  • Insurance Coverage – Indicate whether the asset is covered by insurance.
  • Insurer – Select or enter the name of the insurance provider.
  • Amount Insured – Enter the value for which the asset is insured.
  • G/L Account Linking – Link the asset to the relevant General Ledger accounts:
      • Fixed Asset A/C – Select the account used to record the asset.
      • Depreciation A/C – Select the account used to record depreciation for the asset.
  1. Click Submit to save the new asset.

The asset will then be registered in the system and can be managed and monitored through the Manage Assets section.