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AssetRegisterTracking Asset Register & Tracking

PrismERP asset management solution is designed with the user's perspective in mind. It caters to companies of all sizes—large, medium, and small—ensuring effective asset management, which is crucial for every organization.

1) Add Asset Account​

Navigation Asset New Asset Account

PrismERP allows you to manage all assets within your company or organization. The first step is to create an asset account, from which all asset maintenance costs will be controlled.

Required Fields for Creating a New Asset Account:

  • Account Name: Name of the asset account
  • Account Type: Type of asset account (e.g., fixed asset, current asset, etc.)
  • Sub Account: Optional field to categorize the asset under another account
  • Note: Optional field for tracking or additional context
  • Description: Optional field for further details
  • Account Code: International Accounting Standard code
  • Opening Date: Date of opening the asset account
  • Opening Balance: Initial balance, if applicable
  • Branch: Specify the branch if the company has multiple branches

2) Asset Account List​

Navigation Asset Asset Account List

The asset account list displays all asset accounts created in the application, along with their respective ledger books.

Key Features:

  • Left Panel: Displays a list of all asset accounts.
  • Right Panel: Shows the ledger book for a selected asset account.
  • Search Filter: Allows users to filter and view transactions within a specific time interval.
  • Detailed Ledger View: Displays all records and transactions associated with a selected asset account.

Asset Category​

1) Adding a New Asset Category​

Navigation Asset New Asset Category

An asset category defines the characteristics of an asset added to the application. Categorization helps in organizing items or products under specific asset groups.

Required Fields for Creating an Asset Category:

  • Type: Defines whether the asset is tangible or intangible.
  • Name: Name of the asset category.
  • Depreciation Model: Specifies the depreciation method (cost model or revaluation model).
  • Depreciation Account: Defines under which depreciation account the asset category falls.
  • Depreciation Rate (Year): The annual percentage of depreciation for the asset category.
  • Depreciation Pulse: Frequency of depreciation (monthly, yearly, quarterly, half-yearly).
  • Account Code: Specifies under which asset account the asset category is listed.
  • Depreciation Policy: Defines the depreciation method (Straight Line Method or Reducing Balance Method).
  • Life (Tax): Tax-related depreciation for assets such as vehicles (optional).
  • Life (MIS): Optional field for Management Information Systems (MIS) tracking.

2) Asset Category List​

The asset category list displays all asset categories created within the application.

Key Features:

  • Left Panel: Displays a list of all created asset categories.
  • Right Panel: Shows basic details related to a specific asset category.
  • Adding New Categories: Click the “+” icon beside the Asset Category heading to add a new category.
  • Editing an Asset Category: Click the edit option in the top-right corner to modify any asset category.

Asset Items & Products​

1) Add Asset Items​

Navigation Asset Add Asset Item

Required Fields:

  • Name: Name of the asset item
  • Asset Category: The category under which the asset item falls
  • Type: Specifies if the asset is an inventory product, assembly, or group
  • Feature: Defines the measurements or details of the asset item

2) Asset Item List​

After adding a new item, the system redirects you to the Item List. You can also navigate to the item list through the inventory menu.

Key Features:

  • Search asset items using the search filter
  • Filter by selecting Type: Asset and entering the asset item name
  • Detailed info is displayed on the right side
  • Edit by clicking the edit icon

3) Add Asset Product​

Navigation Asset Add Asset Product

Required Fields:

  • Item: Select the asset item under which the product is added
  • Name: Name of the asset product
  • Code: Unique tracking code (optional)
  • Barcode: Barcode of the product (if applicable)
  • Step Size: Quantity size measurement (whole number or decimal)
  • Unit of Measurement: e.g., kg, litre, unit, per piece
  • Manufacturer: Manufacturer’s name
  • Preferred Vendor (optional)
  • Prefix (optional)
  • Start Value: Initial value of the product

4) Add Existing Asset / Opening Asset​

Navigation Asset Add Opening Asset

Required Fields:

  • Delivery Date & Receive Date
  • Asset Items, Category, Item Name, Product Name, Quantity, Unit, Unit Cost

Buying New Asset​

Navigation Asset New Asset Purchase Order

Required Fields:

  • Party: Supplier or vendor
  • Name: Supplier company name
  • Contact Info
  • Order & Delivery Date
  • Category: Inventory, Assembly, or Group
  • Product Info: Can be entered manually or using barcode
  • Account Information: Defines the account for payment (Accounts Payable)

Depreciation​

1) Depreciation Voucher for Assets​

Navigation Asset New Depreciation Voucher

Required Fields:

  • Frequency of Depreciation: Monthly, Quarterly, Half-Yearly, or Yearly
  • Upto: Last date for depreciation calculation
  • Entry Date
  • Asset Info: Code, Name, Opening Balance, Total, Depreciation Amount, Closing Balance

Key Notes:

  • Ensures accurate depreciation records
  • Supports systematic tracking and reporting

Asset Disposal​

Navigation Asset New Asset Disposal

Disposal Purposes:

  • Sale Purpose
  • Wastage Purpose

Required Fields:

  • Entry Date
  • Asset Category, Item, Product, Purpose
  • P/L Account: Expense or Income based on disposal type

Asset Assignment​

1) Add Asset Assignment​

Required Fields:

  • Entry Date
  • Asset Category, Item, Product, Serial
  • Branch (optional)
  • Department
  • Employee
  • Requisition (optional)

2) Asset Assignment List​

Displays:

  • Category, Item, Product, Serial Number
  • Department, Employee, Assign Date, Duration
  • Modify or edit as needed

Opening Asset​

Add Opening Asset​

Navigation Asset Add Opening Asset

Required Fields:

  • Delivery & Receive Date
  • Category, Item, Product Name, Quantity, Unit Cost, Total Cost, Closing Unit (if any)

Process Flow:

  • Generates an Opening Asset (AAQ-xxx)
  • Status remains pending until accepted
  • Once accepted, entry is recorded and reflected in system