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Tally.ERP 9 for Fixed Asset Management

© Tally Solutions Pvt. Ltd. All Rights Reserved 2 2

Agenda

• Fixed Asset Management – An Overview

• Structure of Fixed Asset Management

• Tally.ERP 9 for Fixed Asset Management

• Process Flow

• Primary Requirement

• Tally.ERP 9 – Fitment


Structure of Fixed Asset Management

Fixed AssetManagement

Depreciation Methods

MIS Reports

AssetClassification

Asset Depreciation

AssetDisposal

Capital Purchase


Fixed asset management – An Overview

DEPRECIATION METHODS

FIXED ASSET MANAGEMENT ON TALLY.ERP 9

MIS REPORTSASSET DEPRECIATION

· User can define the depreciation methods

· Rate of depreciation can be defined for various depreciation method

· Date of applicability of depreciation can be mentioned

· Asset depreciation details can be recorded along with below mentioned details

- Asset location

- Asset ID

- Put to use date

- Custodian name

- Purchase rate and quantity

· Asset put to use report

· Insurance details

· Warranty & AMC details

· Custodian details

· Asset Register

ASSET CLASSIFICATION

CAPITAL PURCHASE

ASSET DISPOSAL

· Asset group creation with depreciation method, effective date and rate tag

· Item classification with

- Location details

- Supplier name

- Bill Date

- Put to use Date

- Insurance Details

- Warranty Details

- AMC Details

· Below mentioned details can be recorded while capital purchasing

- Asset location

- Asset ID

- Put to use date

- Custodian name


· While disposing assets below mentioned details can be captured for reference in fixed asset register

- Asset location

- Asset ID

- Put to use date

- Custodian name



Depreciation Method



MIS Reports

AssetClassification

Asset Depreciation

AssetDisposal

Capital Purchase


Process Flow – Depreciation method

DEPRECIATION METHOD

User can define the depreciation method as per their requirement

Based on the depreciation method and rate of depreciation for assets, calculations are done in Fixed Asset reports

Defined depreciation methods can be attached to particular asset classification

DepreciationMethods

User need to link assets classification to a particular asset group

Depreciation methods Will be stored in database


Primary Requirement – Depreciation Method

Category / Module Major Requirement Explanation

Depreciation Method Depreciation method name

Various depreciation methods can be created in the system using depreciation master. Depreciation rate can be defined with its date of effectiveness.

Classification of assets Provision to segregate certain group of asset under one category is provided. Methods of depreciations and rate of depreciation can be mentioned here so that it can be further referred.

Grouping of asset Various assets can be grouped under a single group so that same depreciation methodology is applicable to all the items. One time configuration in group level will be applicable to all the items.

Asset items Asset item can be created under certain group. Master will contain the details like supplier of the asset , billed date, rate, total cost, AMC, Warranty, service, location and put to use date details.


Tally.ERP 9 Fitment – Depreciation Method

SL No. Requirement Part of Tally.ERP 9 Part of Solution

1 Depreciation Master Creation Yes

2 Tagging of masters under fixed asset group Yes

3 Multiple master creations Yes

4 Tagging of Depreciation methods to asset classifications with rates

Yes

5 Fixed asset report generation based on depreciation methods

Yes


Asset Classification



MIS Reports

AssetClassification

Asset Depreciation

AssetDisposal

Capital Purchase


Asset Classification


Asset Classification Asset classification User can create asset classification and mention the method of depreciation. Effective date and rate of depreciation can be also mentioned at this place.

Asset group creation Multiple asset groups can be created under the asset classification. Asset group will inherit the property of asset classification.

Asset item creation Asset can be created under a particular asset group. Detail of supplier from whom the asset item is purchased and bill date are captured in the master.

Put to use date According to companies act, the depreciation is to be calculated on the asset put to use date.

Insurance & Warranty Policy details, expiry date, type of insurance and effective date of insurance with AMC details can be stored for future reference in asset item master.


Tally.ERP 9 Fitment – Asset classification


1 Asset classification Yes

2 Set/Alter depreciation details Yes

3 Method of depreciation Yes

4 Effective date Yes

5 Rate of depreciation Yes

6 Asset group master Yes

7 Asset item master Yes

8 Asset location details Yes

9 Asset ID details Yes

10 Asset supplier name Yes

11 Bill date for asset Yes

12 Put to use date for asset Yes

Cont.…




13 Insurance details Yes

14 Insurance effective date Yes

15 Insurance expiry date Yes

16 Type of insurance Yes

17 Policy number Yes

18 Warranty details Yes

19 Warranty date Yes

20 Warranty expiry date Yes

21 Warranty reference number Yes

22 Annual maintenance details Yes

23 Applicable date for AMC Yes

24 AMC expiry date Yes




25 AMC reference number Yes

26 Service details Yes

27 Service type Yes

28 Service on or before date Yes

29 Batch details Yes

30 Unit of asset item Yes


Capital Purchase Management



MIS Reports

AssetClassification

Asset Depreciation

AssetDisposal

Capital Purchase


Process Flow – Capital Purchase Management

Capital Purchase Asset Disposal Asset Depreciation

User can capture the location where the asset need to be put after purchase

CAPITAL PURCHASE MANAGEMENT

User can create three different voucher types for recording capital purchase, asset disposal and asset depreciation

User can even mention the name of the concerned person who will be the owner of the asset

User can tag the purchase rate as well as the quantity details while raising the capital purchase invoice for future reference

Transaction detailsare stored in database

Purchase / Disposal /

Depreciation details


Primary Requirement – Capital Purchase Management


Capital Purchase Management

Capital purchase management

Capital purchase records can be recorded in the system with the complete details. Like, supplier from whom it was purchased, Annual maintenance details and where the asset need to be shipped.

Capital depreciation Based on the method of depreciation tagging at the item level, user can record the depreciation details in the system after a period of time.

Capital disposal Once the life of asset is over and need to be disposed. Same can be captured in the system.

Custodian details System provide the capability to record the name of the custodian under whom the asset is currently held. Similarly the location where the asset currently resides.


Tally.ERP 9 Fitment – Capital Purchase Management


1 Voucher type creation for capital purchase Yes

2 Capturing asset location details in transactions Yes

3 Asset ID details Yes

4 Quantity of asset purchased Yes

5 Rate of items Yes

6 Total Amount Yes

7 Custodian details Yes

8 Period under certain custody Yes


Tally.ERP 9 Fitment – Capital Depreciation Management


1 Voucher type creation for capital depreciation Yes

2 Asset Name for which depreciation is calculated Yes

3 Asset ID and basic details Yes

4 Location where asset is currently available Yes

5 ID of asset Yes

6 Depreciated amount based on depreciation methods Yes


Tally.ERP 9 Fitment – Capital Disposal Management


1 Voucher type creation for Capital disposal Yes

2 Location from where asset is disposed Yes

3 Item disposed details Yes

4 Quantity of item disposed details Yes

5 Disposal rate Yes

6 Disposal amount Yes

7 Custodian details who is in charge of disposal Yes


Temple & Trust – MIS Reports



MIS Reports

AssetClassification

Asset Depreciation

AssetDisposal

Capital Purchase


Primary Requirement – MIS Reports


MIS Reports Asset put to use report Asset put to use report provide the details of asset, when it was purchased, purchased amount and from when the asset is under operation. Facility is provided in report to enter the put to use date. Since the depreciation is calculated based on this date.

Insurance details report This report provides complete insurance detail for the assets. Type of policies, policy number and expiry dates are available in this report. Asset details which are not insured are also available in this report.

Warranty number & AMC details report

Report provide Warranty number and validity period of assets.AMC details are also available based on which servicing decision can be taken.

Custodian report Report provide the detail of the custodian under whom the asset resides with period wise.

Fixed asset register Fixed asset register provides complete summary of an asset. Capital purchase, AMC, services history, warranty and disposal details based on the period.

Schedule 3 reports Schedule 3 reports provide the depreciation details of an asset. Information like Opening balance, depreciation amount and the closing balance of the asset are viewed in this report.


Tally.ERP 9 Fitment – MIS Reports

SL No. Requirement Part of Solution

1 Asset put to use report Yes

2 Insurance details report Yes

3 Warranty & AMC details report Yes

4 Custodian Details report Yes

5 Asset Register Yes

6 Schedule 3 reports Yes

7 Written down Value report Yes

8 Straight line Method report Yes

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Date post:	10-Jun-2018
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