myassets

myassets is one of the software modules offered by wolke business suite which is designed to enable businesses to effectively manage their fixed assets, whether these assets are tangible or intangible. It is a robust system that calculates an asset’s depreciation based on the asset’s life cycle: it handles accounting entries related to purchase in multi-currency, disposal of fixed assets, gain/ loss on disposal are calculated and entries are posted automatically.

  • Assets Management
  • Assets Financials
  • Assets Maintenance
  • Assets Movements
  • Assets Documents
  • Assets Insurance
  • Assets Tracking
  • Assets Reporting & Inquiry

In addition there are many other business solutions of wolke business suite that can be incorporated with myassets as an optional add-on:

  • myaccount
  • mystaff
  • mysales
  • mypurchase
  • mytime
  • myledger
  • myinventory
 

 

MODULES & SPECIFICATIONS

myassets provides a strong management tool of all recorded fixed assets of the company whether these assets are tangible or intangible. It keeps track of all movements of these assets whether those movements are from staff to staff or department to department or from one location to another.

Assets Management

myassets provides a complete asset file with detailed information regarding each asset. The data keyed in may relate to the asset itself, to the vendor/supplier, to the assets category or to the location and department.

Assets Financials

myassets takes care of all the financial aspects of your assets starting from the assets purchase value, net book value, total accumulated depreciation, monthly depreciation and the accounting related entries. Disposal and cancellation of an asset can be treated easily with myassets.

Assets Maintenance

Any type of maintenance related to an asset can be recorded in myassets. Relevant data such as the type, amount, supplier and the description are part of these records.

Assets Movement

All asset movement history can be recorded, such as location movement, staff movement, department as well as profit and cost center movement. Workflow, emails and authorization pretaining to that movement are built-in features.

Assets Documents

All documents related to any asset can be part of that profile as scanned documents. Photos and drawings can also be stored as part of the documents, if required. Warnings about document expiry dates and warranty can be set to be sent to specified emails.

Assets Insurance & Inspections

Insurance and Inspection details can be stored within myassets. Expiry warnings will be sent directly to the email accounts of the staff concerned. Insured value will be recorded with the details of the insurance company. Scanned copies of all relevant documents are also stored in the system.

Assets Tracking

myassets has the ability to track assets, stock them and move them from one location to another based on:

  • Activities/Sub-Activities (Profit/Cost Centers)
  • Analysis Codes
  • Departments
  • Employees

The many features that seperates myassets from the rest of the systems in the market are:

  • Multi-company
  • Multi-branch
  • Multi-currency
  • Full financial tracking (cost, depreciation, net book value, sales etc.)
  • Bar coding facilities
  • Full assets movement tracking
  • User definable fields
  • (Assets extension - life or/and component)

myassets Sub-Ledger

The system maintains a full-fledged Sub-Ledger for each asset, detailing the acquiring entries, depreciation entries, disposal and cancellation. These entries can be viewed by profit centre, cost center and supplier.

Processing

The myassets module will process the following automatically:

  • Processing of acquisition, sale, obsolescence, and destruction, with immediate gain/loss calculation and definition of the accounts to be affected by the operation, and in which proportion.
  • Background treatment of accounting entries into the General Ledger upon confirmation of the input of the various transactions.
  • Automatic processing of monthly depreciation to the Ledger upon your instruction.

Reporting & Inquiries

Many reports and inquiries are built-in within myassets system, such as Movement Reports, Insurance Reports, Inspection Reports, Assets Category Reports and Financial Reports. myassets financial reports are fully in compliance with the International Accounting Standards (IAS).

Whenever needed, an online context sensitive help system pops up to assist and guide you through all the procedures. Our manuals provide extensive and comprehensive details to your staff so they can derive the full potential and beneficial features of myassets.

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