Fixed Assets Management Application for Zoho Books is an add-on application developed on the Zoho Creator platform, to maintain an Asset Register, Track Fixed Assets, Calculate Depreciation, and automatically Post financial entries in Zoho Books.
Fixed Asset Management application is developed on the Zoho Creator platform, which helps customers maintain and track the details of assets owned by the company. The Asset Register records all assets owned by the company with information such as purchase date, purchase value, asset location, current book value, status, etc. A unique ID along with a barcode is used to identify each asset. This application helps to calculate the depreciation for a financial year throughout the asset’s physical life. The application also automatically posts financial entries into the Zoho Books platform.
The application offers the calculation of depreciation using the two most popular methods to calculate i.e. Straight Line and WDV (Written down value).
Each asset can be classified into a main category and a sub-category. For example, categories can include engineering, IT, and administration sectors. IT companies may fall under the following subcategories: desktops/laptops, networking hardware, printers, etc. While, sub-categories in engineering and administration could be furniture, vehicles, tables, chairs, cars, etc.
Features of Fixed Asset Management (FAM) Module in Zoho
- Asset Register to maintain your assets database and track them over its lifetime.
- User-defined Asset categories and Asset sub-categories to allow proper categorization of each asset. This helps in defining the depreciation rates at the category level.
- Based on the unique ID, the application can generate a barcode or QR code for each asset
- This application calculates the depreciation costs based on straight-line or Written Down Value (WDV) methods
- It tracks down the Assets Status from the time when the purchase is made till disposal based on their current status.
- Major events (such as repair, maintenance, warranty, AMC, etc) in the life of asset can be tracked.
- Once the depreciation has been calculated and verified, the system will make an automatic depreciation entry in Zoho Books
Technical Requirements of Fixed Asset Management for Zoho Books
Fixed Asset Management App for Zoho Books is developed on the Zoho Creator Platform. The app requires a Zoho Creator Enterprise License and Zoho Books (Optional only if you want to post depreciation in Zoho Books)
Pricing of Fixed Asset Management Module in Zoho
Fixed Asset Management App for Zoho Books is available on One-time Pricing or Annual Pricing Model (SaaS). Contact us for Pricing
How to get Fixed Asset Management Application for Zoho
Contact our team to see a demo or get this application for your organization.
Connect with our team of Zoho Consultants if you want to know more about how to get Fixed Asset Management Application on Zoho and how to use it for your company’s asset calculation, evaluating depreciation costs, and other purposes.