RamBase support whole management of fixed assets. It gives an overview of investments, allows for automatic monthly depreciation and forecasts depreciation costs. It also allows creating reports used in audits.
In addition to full periodic cost control, RamBase provides an estimate of future depreciation and an overview of when assets will be withdrawn. Combined with accounting dimensions, it shows a general view of depreciation, operating costs and revenues from each asset.
Fixed assets activation
An investment is a material asset exceeding value defined by law. If the purchase price exceeds this value, the material asset must be activated in the register. This is usually done after receiving the invoice.
Calculation and accounting of depreciation
An asset’s depreciation is a periodic activity that is usually performed every month. If the fixed assets register is updated, depreciation can be performed with a few clicks.
Financial periods of material assets are varied. All scenarios may have specific depreciation rules.
Fixed assets deduction
If material assets become outdated, damaged, etc. their value decreases. It is possible to make fixed assets deduction to update general ledger with good values.
Fixes assets are registered based on suppliers’ invoices. The system provides sufficient way of importing information from suppliers’ invoices to fixed asset registry.
It is possible to manually register fixed asset directly into registry.
Adjustment of existing assets
It is possible to adjust the posting of fixed assets in the general ledger.