FIXED ASSET MANAGEMENT
Discover a better way to track, manage and account for your fixed assets
Benefits
Automate depreciation
Automatically depreciate property, plant and equipment across multiple books, entities or currencies for any period or range of periods.
Simpler year-end and audits
Save time, simplify year-end and close down periods faster with accurate up-to-date data. Generate all general ledger postings quickly and accurately.
Faster processing
Calculate and forecast asset depreciation for large volumes quickly. Manage multiple companies, currencies and books within one asset management system.
Better reporting
Extensive reporting and search facilities for assets and equipment. Track depreciation, transfers, impairments, revaluations and disposals of fixed assets.
Features
Key Features
✓ Multi-company and multi-book (regulatory, tax, group, management, local, state, federal)
✓ Flexible coding structures to fit your individual fixed asset management requirements
✓ Parent-child relationships for inter-dependent fixed assets with summary and detailed views
✓ Additional or late costs, invoice adjustments and project go-live facilities
✓ Full tracking history of asset adjustments, transfers, disposals and other asset events
✓ All known fixed asset depreciation methods used in over 40 countries worldwide
✓ Standard or user-definable accounting periods which can vary across companies and books
✓ Standard or user-defined fixed asset description fields
✓ Comprehensive reporting and search facilities
✓ Excellent integration with spreadsheets and leading ERP and accounting software
✓ Software is easy to install, set up, and begin data entry
Compliance
FMIS Fixed Assets accounting software provides the visibility, functionality, control and calculation methods to help you comply with all relevant accounting standards. This includes IFRS, SORP, Sarbanes-Oxley, IAS, local Generally Accepted Accounting Principles (GAAP) and Component Accounting.
With the ability to set up and manage multiple books for local, group and tax purposes and a full suite of standard and modifiable depreciation methods, you know the FMIS fixed assets solution will be future-proof.
Reporting
✓ Extensive summary and detailed reports on fixed asset inventory
✓ Highly flexible software coding structures for grouping and summarising
✓ Reconciliation reports for year-end
✓ Parent-child asset relationships listed or grouped
✓ Ability to restrict fixed assets included using extensive search criteria
✓ Single or consolidated company options for asset management
✓ Forecasting reports show how much fixed assets will depreciate
✓ Budget vs actual reports
✓ Reports suitable for finance and non-finance users, physical audits etc.
✓ Automate reports from historical costs and data for assets
✓ View reports in a window or in PDF and Excel options
Asset events
✓ Asset additions
✓ Asset transfers (full and partial)
✓ Cost adjustments
✓ Revaluations (various treatments to handle all circumstances)
✓ Re-life of assets
✓ Changes in status e.g. fixed assets under construction, stage payments, go-live, held for sale etc
✓ Tracking disposals (full and partial) of fixed assets
Forecasting
✓ Capital investment forecasts are part of the main Fixed Assets module, making it easy and efficient to manage
✓ Forecast values based on either actual assets or actual assets plus budget
✓ Budget spend can be added easily via manual entry, spreadsheet or integration to other systems
✓ Forecast up to any future point, with full reporting and enquiry facilities on forecast data
Who uses FMIS Fixed Asset Management?
FMIS Fixed Assets accounting software is ideal for medium and large organisations with complex asset management needs. Our asset management solution can automate and streamline asset management across multiple companies, countries, currencies and books, making sure that each is compliant with standards for accounting in each locality.
If you’re a business with complex asset accounting needs looking to optimise your fixed asset and depreciation management and tracking, FMIS fixed asset tracking software is a great investment.
One organisation that has benefitted from our fixed asset accounting software is Essex County Fire and Rescue Service. It uses FMIS to help manage its extensive asset inventory of machinery, equipment, land, and building assets.
FMIS asset tracking was useful to them because it allowed them to automate depreciation calculations, group and manage assets using parent-child relationships where assets had different useful life lengths, and run reports with ease.
Check out our case studies to learn more about how industries have implemented FMIS accounting software.
Who we work with
“The support received both during and post-implementation has been excellent.”
“FMIS makes managing our assets effectively a simple process. We can track all our assets across the group from a single system and generating reports is quick and simple, saving us time and effort.”
“The FMIS system has been one of the most user-friendly systems I have ever used,”
“Great product, Superb value for money and excellent customer support.”
Integration
FMIS Fixed Assets Management software can be integrated with most leading accounting software and ERP packages. The integration allows users to create all general ledger postings automatically, cutting out data duplication and ensuring accuracy.
FAQ
What is Fixed Asset Management?
Fixed asset management is the process of tracking, managing, and accounting for an organisation’s fixed assets throughout their lifecycle. This includes tasks such as acquisition, depreciation, maintenance, transfers, and disposals. Effective fixed asset management ensures accurate reporting, compliance with accounting standards, and optimal utilisation of resources.
Can I customise the FMIS Fixed Asset Management system?
Yes, the FMIS Fixed Asset Management system is designed to be highly flexible and customisable. It allows you to tailor asset coding structures, reporting formats, and workflows to suit your organisation’s specific requirements. This flexibility ensures that the system can support your unique operational and management needs.
Can the FMIS Fixed Asset Management system be integrated with existing systems?
Absolutely! The FMIS Fixed Asset Management system has robust integration capabilities, enabling seamless data exchange with leading ERP and accounting software, as well as spreadsheets. This ensures consistency in data management and enhances overall operational efficiency within your existing infrastructure.
What is a Fixed Asset?
A fixed asset is a tangible or intangible resource owned by a company and used in its operations to generate value over a long-term period. Examples include property, plant, equipment, vehicles, and IT hardware. These assets are not intended for immediate resale but are instead essential for day-to-day business activities.
Is training provided for the users?
Yes, FMIS offers training to enable your team can use the system effectively, maximising its value.
How does FMIS ensure data security within the system?
FMIS follows industry best practices for data security, including encryption, role-based access control, and secure system integrations.
How much does FMIS Software cost?
Pricing depends on factors like the number of users, required modules, and deployment method. Contact us to discuss your needs and request a personalised quote using our contact form.
Sage
Sage users can benefit from the FMIS Fixed Asset Management software add-on which can help large organisations manage assets across multiple companies, countries and currencies. It has functionality for parent-child relationships for the management of inter-dependent fixed assets and can allow Sage users to forecast depreciation without time limits.
Deltek
Integrating FMIS Asset Management software with Deltek Vision or Vantagepoint allows users to effortlessly track and forecast depreciation on fixed assets.
Access
For users of Access Dimensions software, integration with FMIS Fixed Assets can enhance asset management for organisations with complex needs or high volumes.
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