Fixed Asset Management Software
Real Asset Management's specialist fixed asset software can control, track and record every change that occurs during an asset's lifetime, such as asset status, history and location. It encompasses depreciation processing and forecasting, lease accounting, capital expenditure control and asset tracking/physical auditing. Quick access to comprehensive fixed asset information transforms asset management, reducing costs and improving compliance.
Effective fixed asset management can only be achieved through the use of fully comprehensive software with a centralised fixed asset register. Real Asset Management's fixed asset software supports the entire asset accounting lifecycle.
Fixed Asset Accounting Software Features
- Compliant with the ever changing requirements of IFRS, UK/US/Australian GAAP, Sarbanes-Oxley and other SOX-type regulations.
- Multi-company, multi-currency and multi-lingual if required.
- Provides complete information on asset status, history and location for audit trail purposes.
- A single input screen provides for the fast addition and update of assets.
- Assets can be arranged in hierarchies, identifying parent/child relationships and dependencies.
- Transaction types include full and partial disposals, transfers, enhancements, cost adjustments, relifes, revaluations and splits.
- Standard and user-definable depreciation methods can be applied by asset, asset group and period of account. Charges are retained for historical periods and automatically calculated for current and future periods as required.
- The audit file holds a history of all user actions, identifying which assets were affected and the before/after detail.
- Standard interfaces are provided to spreadsheet packages, property management systems such as MRI and many of the leading Finance / ERP systems.
- Electronic document management for the fast retrieval of associated files.
- On premise and cloud-based (SaaS) subscription options ensure the system fits your existing IT strategy.
- Depreciation is automatically calculated for any period or range of periods across multiple books.
Flexible Depreciation Features
A single fixed asset register enables effective management of complex depreciation:
- User-definable analysis criteria by asset, asset group, cost centre or period of account.
- Costs are retained for past period reporting and automatically generated for current and future periods as required.
- Unlimited number of standard and user-defined depreciation methods for full statutory compliance.
Cost Control Features
Improve cost control by reducing insurance premiums, extending asset lives, and comparing supplier performance:
- Improve asset acquisition, utilisation and disposal processes with one true version of the fixed asset register.
- Avoid oversights by creating automated alerts for key events such as insurance renewal, warranty expiry or replacement date.
- Minimise delay in the event of an insurance claim.
Reporting and Forecasting Features
Exploit RAM’s powerful fixed asset software to improve statutory compliance and accelerate year-end reporting:
- Over 50 industry standard reports.
- Comprehensive range of user-definable templates.
- 25 levels of analysis for comprehensive enquiries and reporting outputs.
- Standard balance sheet format report drill down for instant asset analysis.
- Reports are viewable on screen, in PDF and printed or can be exported to MS Excel™ or other standard flat file formats.
RAM's Solution Options...
Full Compliance with Corporate Governance
When it comes to fixed asset management, RAM can help you to confidently meet the latest corporate governance regulations with accurate depreciation, component accounting and excellent reporting. Its software complies with the ever changing requirements of IFRS, Sarbanes-Oxley (SOX), SORP, UK/US/Australian GAAP and IAS. With strong security and a comprehensive audit trail, users have the peace of mind that their data will meet all governance and audit regulations.
RAM enables customers to complete tax documents more quickly, easily and accurately than ever before. Tax functionality provides finance professionals with up to date and accurate information about deductions available for their depreciating assets. Combining one-step capital allowance calculations with the capacity for separately definable tax years and easily configured allowance rules, RAM's fixed asset software provides an easy-to-use tool for gathering information on qualifying assets.
- Leverages the records within the fixed asset register as a basis for tax relief calculation.
- Supports grouped assets to enable capital expenditure to be apportioned to incorporate any number of allowance rules.
- Automatically updates calculation in response to accounting events, such as transfers and disposals.
- Detailed reconciliation reports outline the effects of calculations under the various allowance rules.
- Calculates individual and pooled costs.
- Instant calculation of asset allowance costs.
- Produces fast and accurate ‘what if’ computations.
Automated tax calculation delivers significant cost savings for organisations that have traditionally used estimates or outsourced.
- One-off calculations can be undertaken for a specific project.
- Produces detailed reconciliation reports grouping figures by allowance rules.
- Stores allowance costs for past, current and future years.
- Enables rapid tax planning through quick and accurate ‘what if’ forecasts.
Depreciation Forecasting and Modelling
Accurate forecasting models underpin cost-effective and tax-efficient capital budgets. Real Asset Management's state of the art forecasting solution creates 'what if' scenarios for future capital expenditure, relifes, revaluations and asset disposals to create depreciation projections. RAM's depreciation modelling solution exploits the fixed asset data to accurately predict the effect of different capital expenditure and disposal programmes, optimising investment returns (ROIs).
- Forecasting directly mirrors the asset register to remove the need for complex spreadsheets.
- Use date range and future predictions to create a robust forecast and avoid risky guesswork.
- Planning can be for any range of accounting periods to reflect evolving business needs.
- Acquisitions, relifes, revaluations and disposals can be stated against groups of assets – no need to specify assets affected.
- Complete management reports and analyses for budget models.
- Rolling forecast options.
- Comprehensive export options.
Improved Asset Insight
Effective forecasting delivers immediate visibility of the impact of depreciation charges or events.
- Real-time analysis of forecasted and live budget variance.
- Supports both historical and indexed cost forecasting as well as forecasting by cost centre.
- Provides complete, user definable management reports and analyses for budget models.
- In-built detailed scenario comparison reports.
Modelling provides insight into the effect on depreciation charges for events entered against both individual asset and categories of asset in the register.
- Budgeted depreciation forecast is automatically associated with the appropriate asset type.
- Reporting includes Budget/Live variance reporting and comparison reports.
Lease Asset Accounting
RAM's lease accounting software improves the management of finance and operating leases and enhances the visibility of lease agreement exposure and management. As an IFRS compliant lease accounting tool, it proves to be invaluable to all companies that incorporate a leasing policy for asset purchases or require better controls on asset rentals.
Capital Work in Progress Assets
Effective expenditure management demands complete control of cash-flow, budgets and projects from start to finish. Specialist capital project software ensures that both commitment and actual spend are recorded against budgets for both capital and expense projects. The solution also enables the building of Work-in-Progress (WIP) assets.