RAM'S Fixed Asset Software will help you to:
Accurately Report Asset Depreciation
Simplify Year End Procedure
Reduce insurance premiums
Comply with Corporate Governance
Efficiently audit assets by location
Satisfy all audit requirements
Features & Benefits
- 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 is provided for the fast addition and update of assets.
- Assets can be arranged in hierarchies, identifying parent/child relations 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. Costs 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 records were affected and the before / after detail.
- Electronic document management for the fast retrieval of associated files.
A single fixed asset register enables effective management of complex depreciation:
- Depreciation is automatically calculated for any period or range of periods across multiple books.
- 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.
- Standard interfaces are provided to spreadsheet packages, property management systems such as MRI and many of the leading Finance / ERP systems.
- On premise and cloud-based (SaaS) subscription options ensure the system fits your existing IT strategy.
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.
- Enables compliance with the ever changing requirements of IFRS, UK GAAP, Sarbanes-Oxley and other SOX-type regulations.
- Comprehensive audit trail.
- Strong security.
- Enables organisations to meet and surpass audit regulations.
- Accurate data provides peace of mind.
Improve cost control by reducing insurance premiums, extending asset lives, and comparing supplier performance:
- Improve asset acquisition, utilisation and disposal processes with one version of the truth.
- 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.
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 and drill down for instant asset analysis.
- Reports are viewable on screen, in PDF, printed or can be exported to MS Excel™ or other standard flat file formats.
Asset Management Product Overview
RAM’s fixed asset accounting system helps organisations maintain compliance with accounting guidelines and tax rules and control, track, and record each change that occurs during an asset's lifetime. The software encompasses depreciation processing and forecasting, lease accounting, capital expenditure control, and asset tracking/physical auditing.
Overcoming the Hurdles of Fixed Asset Management
Download our free whitepaper to explore the challenges presented by fixed asset management. Find out how to evaluate current processes and how specialised systems can offer solutions.
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.
The Seven Sins of Spreadsheets
Using spreadsheets to manage an ever growing asset register can lead to problems with business efficiency, from trouble with IFRS compliance through to poor or inaccurate depreciation calculations, audit trail issues and an inability to meet historical reporting and forecasting requirements.