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
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.
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Features & Benefits
Fixed Asset Software Features
- 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.
- 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.
Flexible Depreciation Features
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.
Fixed Asset 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.
- Compliant 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.
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 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.
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 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 tracking and physical auditing
Comprehensive data capture and asset tracking systems transform the speed, accuracy and efficiency of the asset audit. Combining hand-held devices with a central asset register, organisations can track asset location and status with minimal cost and resources, streamlining compliance and imposing control over the asset base.
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.
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.
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.
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.
Asset Retirement Obligation (ARO)
Helps organisations maintain compliance with accounting standards that demand companies recognise any ARO liability within the period in which it was incurred. At the time of acquisition or construction, the ARO liability must be accounted for at the present value of the expected asset retirement or remediation costs. This is achieved through adding an asset to the balance sheet that is equivalent in value to the ARO liability which is then depreciated so that the total costs are recognised over time.
- Incorporates all Asset Retirement Obligations (ARO) into the asset register.
- Compliant with audit requirements and meets all legislation.
- Forecasts all future costs.
- Avoid complex spreadsheets, or having two asset registers that need to be reconciled.
- Easy-to-use depreciation method for maximising efficiency.
- Saves time and minimises error.
- Reliable data for audit.
Download our whitepaper on "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.
Software Availability Options
RAM understands the importance of providing deployment options which ensure optimum efficiency based on the individual needs of your business. With this in mind, RAM's fixed asset software can be deployed in one of three ways, providing true flexibility.
RAM's fixed asset software can be installed on any stand-alone PC or network at your site, providing your organisation with full control over the management and operation of the system and associated infrastructure (ie. servers, network, database etc...).
Ideal for organisations that have limited in-house IT and database expertise or no IT hardware infrastructure in place. RAM can host your fixed asset software in its secure data centre, providing you with full peace of mind when it comes to security.
Software as a Service (SaaS)
If upfront investment is an issue for your organisation, why not acquire your new fixed asset software on a subscription basis? RAM's SaaS option will take care of all the IT, hosting, security and backups for the system, enabling you to maintain focus on areas that matter.