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Assets Management System

General description of the nature of the system

This system contains detailed and analytical data on fixed assets, which are the assets and properties of the establishment and are necessary in creating an entity of any establishment to start the actual operation of the establishment. Fixed assets are a common requirement for all establishments, regardless of their activity, and the larger the establishment and the more its branches and employees, the greater its assets and the greater the need to control it. administratively and financially.

This system, with all its detailed data, is an auxiliary system for a simple group of fixed assets accounts defined by the general accounting system, which appear on the debit side (assets) of the balance sheet. To complete its consumption and control its variables.

General traits and characteristics

    1. Provide the ability to classify fixed assets into main groups and sub-groups of the main groups so that these groups are homogeneous in terms of their consumption period, nature and usage categories.
    2. Providing the possibility of linking between the fixed assets system on the one hand and the general accounting systems, sales, warehouses, purchases, cash flows and administrative affairs on the other hand.
    3. The possibility of defining the assets associated with a specific asset.

    4. Establishing asset depreciation policies at specific rates or a specific period of time linked to a specific asset number.

    5. Automatic release of all accounting entries related to the following transactions and variables:

      • Periodic depreciation entries with each closing movement for the partial financial period of the assets.
      • Purchase of fixed assets by registering an asset receipt note.
      • Allocation of assets received into the custody of an employee or department.
      • Fixed asset revaluation movements.
      • Notices of amending the period of depreciation of assets.
      • Damage to a fixed asset.
      • Fixed asset sale movement.

      • The transfer of an asset from the custody of an employee or subject who was the new employee in the same department or department.

      • Special exchange transactions.

6. Providing the ability to control fixed assets under the custody of a specific department, department or employee.

7. Calculating the depreciation value of assets at the level of one asset per day.

8. The possibility of linking the monthly depreciation expenses to the analytical cost centers that have fixed assets.

9. Providing the possibility of freezing the depreciation of an asset and then re-depreciating it so that we do not affect the depreciation period by increasing the date of the end of the depreciation of the asset by the amount of time in which the depreciation of the asset was frozen.

10. Providing flexibility in terms of re-evaluating assets, changing the depreciation period, and transferring assets from one location to another so that the net asset value and asset depreciation restrictions move with it to the new location.

Fixed asset data flow

Function groups, application phases, and system contents

    • The stage of establishing fixed basic tables and files, which includes the following:
      1. Registration of the main groups of fixed assets.
      2. Registration of the main groups of fixed assets.
      3. Define types of fixed assets.
      4. Defining categories of fixed assets usage.
    •  Fixed assets data, including the following:
      1. Fixed assets master file data.
      2. Static asset component file that contains the linking of a set of assets to a fixed asset.
      3. Analytical file data for fixed asset allocation.
    • Programs for asset movements and variables, including the following:
      1. Fixed assets receipt note.
      2. Allocation of assets received.
      3. Revaluation of fixed assets.
      4. Notices of exchange on fixed assets.
      5. Notices of amending the fixed asset depreciation period.
      6. Notices of adjusting the depreciation period for a group of assets.
      7. Freeze the depreciation of fixed assets.
      8. Activate the depreciation of frozen assets.
      9. Destroying an asset before completing its depreciation.
      10. Selling a fixed asset.
      11. The transfer of an asset from one employee to another.
    • Relay movements : These programs are used only if automated instant migration is turned off.
    • Inquiries and reports : It contains functions for extracting reports and statistics on assets, their depreciation and whereabouts.

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