Solution by Product
Provide accurate support for your general ledger with easy, functional accounting controls with Triumph ERP Fixed Assets
The Triumph ERP software, Fixed Assets Manager makes it simple and effortless to support your accounts for Asset Costs, Accumulated Depreciation, Depreciation Expense, Proceeds on Sale of Assets and Profit and Loss on Sale of Assets. You can run it as a stand-alone module, integrate it with the General Ledger module or interface it with other popular accounting software. It comes in single-user or multi-user configurations
- Error-free records because you never “lose” assets or components.
- More efficient use of assets because you know what you have and where they are.
- Drastically reduced effort required to identify assets and their locations.
How can Fixed Assets Manager help you?
- Maintain accurate records of the identity and location of each fixed asset.
- Break assets into components with different depreciation methods or values.
- Track locations of assets and sub-components.
Fixed Assets Manager Features
Triumph Fixed Assets Manager has features for managing, tracking and reporting on everything related to fixed assets, including assets that consist of different components or move between locations. Fixed Assets can run as a standalone module or it can be integrated with Triumph ERP.
- Depreciation can be calculated for both accounting and taxation purposes, including straight line, diminishing value and units of production.
- The depreciation process is purely date based and can be run up to a nominated date as many times as required.
- Serial number, insurance details, finance details, supplier, quantity on hand, free format notes and more can be stored on each asset.
- Ten user defined fields may be optionally set up and used to store all sorts of information on each asset.
- Assets can be broken down into component assets, with depreciation calculated and transactions stored at the component level.
- Component assets can be moved from one major asset to another e.g. an expensive car stereo can be moved to a new car.
- A complete transaction audit is maintained for each asset including; additions, transfers, depreciation, revaluations and disposals.
- Assets may also be tracked from location to location providing an audit trail of movements.
- Assets may be split into separate assets, or two assets joined to make one e.g. a large truck could be split into the cab and trailer and one could then be sold.
- Disposal of an asset can either be in full or as a partial disposal.
- Stocktake of assets at different locations allows accurate tracking of assets and their condition.
- Digitised photographic images of an asset may be stored and viewed on screen to provide instant recognition.
- A CPI table allows for accurate calculation and reporting of capital gains.
- An assets unique code or number may be changed after it has been created.
- A comprehensive set of reports allow assets to be grouped in five different ways and printed in seven different orders.
- Interfaces to other accounting systems, including Attaché, JIWA, Arrow and Exonet, allowing all the General Ledger movements to be exported.
- Accounting’s General Ledger module. Available in single user and multi-user configurations.
- Low value assets may be pooled as per the Australian Taxation Office ruling.
- Assets can be easily imported from a spreadsheet for initial take-up.
Using the Triumph Fixed Assets module, you can maintain an accurate record of the identity and location of each fixed asset. Furthermore, fixed assets can be broken into components; an especially useful function when components have differing depreciation methods or values. Triumph’s Fixed Assets module provides you with a total control management system for assets that can be accounted for as components or as complete units. Components can be moved from asset to asset or broken down further into sub-components. The ‘tracking’ feature ensures you never lose sight of the value or the location of the asset.