MIS Fixed Assets takes care of an organization's assets. Organizations possess a large amount of Fixed Assets and are required to acquire new assets and dispose of the old when the need arises. Not providing the right accounting treatment for these Fixed Assets will result in inaccurate valuation of the Fixed Assets which provides the wrong financial picture to stakeholders. It will also not deliver the management and financial teams with accurate information on the lifespan of Fixed Assets and when the requirement may arise to dispose of or acquire a new asset. This will affect the organizations operational efficiencies and have a negative financial impact with increased overheads and possible liquidity issues due to blocking cash for badly timed fixed asset acquisitions.
MIS provides an all-encompassing Fixed Asset Module which provides the organization with the capability of managing their entire range of fixed assets applying the right accounting treatment and carrying out the required Fixed Asset related transactions. The transactions relating to Fixed Assets which could be carried out include acquisitions, disposals, depreciation and revaluation. Depreciation can be calculated using either Straight Line Method or Written down Value method. A comprehensive registry of Fixed Assets is maintained in order to ensure that all Enterprise fixed assets are recorded depicting the responsible subsidiary or department within the organization for the specific asset.