Asset Register with Depreciation Calculations
It is statutory requirement of every company to maintain an Asset Register which forms part of books maintained by Accounts Dept. The Asset Register keeps record of all assets owned by company with details such as Purchase Date, Purchase Value, Asset Location, Current Book Value, Status such as Idle, In-Use, Under Repair, etc. etc. Every Asset is identified by a unique ID. Each Asset can be categorized into a category and a sub-category.
Application also helps in tracking the Warranty / AMC status of the asset and maintains the details of the Employee or the Dept. to whom the asset is allocated. The application helps in calculating the deprecation for each Financial Year over the physical life of an asset. Depreciation can be calculated by two most popular methods viz. Straight Line and WDV (written down value). There is additional option of “No Depreciation” in case of assets whose value depreciates (or appreciates) very little over time. ...Watch Video