Keeping track of assets is a big task for almost all organizations. Do you also lose sight of your assets? Genems Asset Management System is certainly for your organization then.
Genems asset management / fixed asset software helps companies to record, track and account for all fixed assets. Maximize ROI on your fixed asset investments by managing them effectively with our Fixed Asset Management software.
Learn more about the key features of Genems Asset Software.Key Features
Every organization owns assets. Some assets like machinery form a direct part of the business while some others like vehicles or computers only support the business. Be it direct assets or not, keeping track of them and accounting for them is very important to save cost. Furthermore, depending on the number and types of assets, asset management becomes more complex. Genems Fixed Asset Management Software makes asset management more effective for your business.
Benefits of using Genems Asset Management System
Centralized asset data
Our asset software collects and stores data related to each asset in a single place – the asset master. It records the date of purchase, the supplier name and also the price and other terms associated with the asset. Furthermore, Genems fixed asset software lets user-definable grouping of the assets. Hence, users have access to full details of any asset, any time.
With so many assets and so many users, it’s quite possible that one loses sight of them. Our asset software lets users record the asset assignee along with the asset. Consequently, it becomes so easy to track where the asset is – who handles it and/or where is it located at.
Fixed assets, especially those heavy investment assets need periodical maintenance. They also have insurance associated with them. Our fixed asset management software keeps track of all such maintenance and insurance activities. It also records the maintenance history of assets. Hence, even if you have many assets, our fixed asset software will help you to coordinate its maintenance by giving timely alerts and correct information.
Depreciation calculations may seem complex with changing regulations. Also, more the number of assets more is it difficult and prone to errors. Genems asset management system lightens depreciation calculation by automating and allowing multiple depreciation methods. Furthermore, the software also creates depreciation journal vouchers simultaneously to account for it.
Asset value and asset planning
Genems fixed asset software gives users information about its monetary worth at any given time. It also gives you details of the expenses incurred for its maintenance and its performance records. Such information will certainly help the users to assess the utility of each asset and hence in asset planning.
Proper recording and tracking of fixed assets save money also. For example, an asset management software ensures that there are no ghost assets. Hence you are freed from accounting for them on your books and tax returns. Furthermore, there are instances when companies keep paying very high insurance premiums for those ghost assets. Genems fixed asset management software avoids that too!
Dashboards and reports
To give you detailed asset information our software has customized reports. Or if you need a quick capture of asset status, Genems Asset Software has dashboards also.
Depreciation can be calculated various methods such as straight line, declining balance, accelerated cost recovery system (acrs) etc
Apart from the above depreciation methods you can also manually enter your own figures or if desired you can also enter your own custom depreciation methods.
Assets can be entered at any point during their depreciation cycle
Amortization feature allows you to calculate both simple and compounded interest loans.
Provides quick on-screen inquiries of asset status
Analyzes pre-purchase depreciation options
Track all aspects of an asset including type, group, location, vendor information, acquisition date, etc.
Based on the asset type, the system automatically determines the appropriate depreciation method, and asset life
Recalculates and prints historical depreciation from acquisition date to the present time
Separate tracking of assets for tax and financial purposes