Super Plan
Super Plan in addition to Base Plan It facilitates computing Depreciation under other GAAP, Extra Shift Depreciation, GST Valuation, Asset Bonding Information and in assignment, transfer, disposal of Fixed Asset.
Depreciation under Other GAAP
If your company is required to comply with any other country's GAAP, then you can compute depreciation as may be required
Compute Extra Shift Depreciation
You can compute the Extra Shift Depreciation for the days during which the asset was put to use on Double Shift and Triple Shift
Compute Value of Asset as per GST Law
You can compute the assessable value for the assets which are disposed as per the requirement of GST Law
Asset Movement Management
Over the years, the asset is moved from its original location for various reasons, such as Temporary Transfer for Repair, Shifting from One Division to Another Division, etc., you can initiate, approve and document such asset transfers using mobile or web application.
Track Bonded Assets
You can track and keep a tab on assets which are imported through bonding and duty waved, also its de-bonding information
Asset Disposal Management
You can track and manage who initiates, approves the asset disposal with built in control to select highest bidder to the asset and document such disposal using mobile or web application.
Asset Assignment Management
You can allocate and unallocated the assets to an individual or project at the start and end of the association or project
Tracking of Non-capitalized Assets
With EcommFAT Super plan, you can also track the assets which are not capitalized in the asset register but need tracking, ie leased or expensed out assets.
Benefits
- Over 99% Asset Registry Accuracy
- Accuracy of asset database through timely updating of asset register for the change in condition, location, user, and other attributes.
- Reduced Time in Locating Assets
- Reduced bottlenecks in operations and instances of lost, stolen, or misplaced assets by tracking the location and movement of assets.
- Better Accountability
- Better accountability is ensured throughout the asset lifecycle by properly defining the user, custodian, and owner of assets at all stages.
- Proper Audit Trail
- Availability of comprehensive audit trail to confirm, validate and review any transaction along with supporting documents
- Decreased Maintenance Cost
- Considerably reduced maintenance costs through streamlining preventive and breakdown maintenance
- Reduced Insurance Premium
- Reduced insurance premium and hassles by sharing accurate asset register with Insurance companies to insure the assets
- True and Fair Reporting for consolidation of books at Corporate Level (U-GAAP)
- Compliance with HO/Corporate depreciation policy for life and Salvage
- know the value of assets getting disposed as per Books of Accounts
- estimate the gain/loss well before actual sale/disposal
- helps in generating reversal entry for accounts
- Take sound business decision in case of retirement/deletion of assets
- Time and energy saved
- Compliance in According with CARO
- Identify under utilized assets and increase overall efficiency of asset utilization
- Identify Surplus Assets in Other Locations
- Know who is assigned what
- know exact location of the asset
- Have proper accountability for assets assigned outside its premises
- Compliance with regulation under STPI