Assets Management Software

RVX Manager has a complex Assets Management Software. The key role of this module is to maintain company’s tangible, fixed and intangible assets, as well as inventory. Company’s fixed assets can be organized into classes, categories and locations. The Assets Software has also distribution capabilities, allocating the cost of depreciation by departments, projects and locations. Fixed assets can be depreciated by case using the following methods: linear, degreased or accelerated. Several standard methods of computing depreciation expense may be used, including fixed percentage, straight line, and declining balance methods.

Functionalities

• fixed assets maintenance
• calculation of depreciation rates
• procedures of liquidation, transfer and revaluation of fixed assets

Fixed Assets Maintenance

Each asset has a predefined estimated useful life. After entering the identification data, origin and location of each asset, RVX Manager assumes responsibility over asset’s useful life by computing fixed assets’ depreciation rate.

If new, the fixed asset depreciation rate is computed using the date of purchase. If old, the fixed asset is computed from the last adjustment date.

Asset Classes and Categories

Fixed assets as well as inventory are classified into classes and categories. Classifying the fixed assets into classes, where you can also define the accounts and the depreciation period, will help you configure the assets so as for the depreciation and the accounting notes to be automatically transfered in the Financial Accounting module. Categories help you to classify the assets and to sort and search faster.

Depreciation Rates

Even if the depreciation process is in progress, this module updates depreciation rates when added value or investments are applied. The disposal of assets can be done through sale, exchange, transfer, involuntary conversion, abandonment, or donation.

Assets Transfers

Assets transfer occurs when assets need to be relocated from one project to another. The assets module has distribution capabilities, allocating the cost of depreciation by departments, projects (include cost centers) or locations (include warehouses).

Assets Adjustments

The revaluation of an asset is made by adjustments which is a process used to establish the true value of fixed assets. This revaluation is realized through an adjustment procedure. In order to revaluate an asset, the change date and adjusted value entry of the asset are required. Once this information is updated in RVX Manager, the software will automatically calculate the new depreciation rate starting with the next month after the date the adjustment was made.

Assets Liquidations

The assets liquidation operation is used when an asset is withdrawn from use upon the completion of its useful life or due to lower productivity in its later life. However, if an asset has certain estimated salvage value, it is likely that the asset will show some gain or loss on its disposal. Once the disposed asset is selected, the software will calculate accumulated depreciation of the asset selected and gain/loss on liquidation.