Omnix ERP Fixed Assets maintains and monitors the acquisition and disposal of fixed assets, depreciation and wear and tear, as well as additions and adjustments incurred or derived from assets.

Key features:

• interfaces with the Omnix ERP General Ledger and Purchase Orders and Requisition modules
• maintains book depreciation and wear and tear for each fixed asset. Depreciation calculations and reporting is done monthly
• caters for multiple asset locations
• can revalue assets by a percentage (for example, insurance or replacement cost purposes). It includes the option to revalue all fixed assets and update the replacement cost with the new value
• can compute future asset values
• generates user-defined asset codes for any number of assets. It includes the option to change the code of an asset. This is useful when the branch/company code is part of the asset code and the asset is moved to a new location
• has separate accounting for book depreciation and wear and tear depreciation
• can depreciate assets using the straight line or reducing balance depreciation methods
• records details of suppliers, locations, replacement values etc.
• monitors additions and adjustments to an asset
• caters for initial and investment allowances
• generates various standard reports, such as Monthly Book, Wear and Tear Depreciations Report, Assets by Location etc.

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