This module provides comprehensive functionalities to streamline asset management processes, ensuring accurate record-keeping and facilitating informed decision-making. The Fixed Assets element of MAP includes the following key features:
The MAP system maintains a centralized register that records all fixed assets to provide a comprehensive view of the organization's fixed assets inventory.
The system facilitates the recording and tracking of asset disposal processes, including; sales, scrapping, or transfers.
The MAP system allows organizations to schedule and manage maintenance and repair activities for fixed assets.
MAP automates the calculation and recording of asset depreciation based on predefined depreciation methods and accounting standards.
MAP provides comprehensive reporting capabilities related to fixed assets. These reports include stock item details, asset valuation, asset movement, and asset status.
Some MAP systems support stock scanning capabilities, allowing businesses to streamline physical inventory counts and asset tracking.
Financial PPE (Property, Plant, and Equipment): The Fixed Assets module integrates with the financial management component of MAP, ensuring proper accounting treatment of fixed assets.