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FAMS is a fixed assets management and depreciation accounting software suitable for companies in India. It takes care of provisios of Companies Act, Income-tax Act and accounting standrads
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Fixed Asset Management Software
Key FeaturesMastersTransactionReportsUtilities
http://www.fastfacts.co.in
Key Features
Key Features
Entering Masters
Company Details
Create a company which will contain Fixed Assets and Depreciation
details across ALL Financial years.
For de-centralized organisations, create a company for each Branch/Region/Accounting Unit .These can be later consolidated for
organisational-level reporting
Parameter
Configure Parameters for Asset Auto-numbering , Creating Additional Books of Depreciations, Auto-Backup periodicity, optional validations , and
depreciation calculation dimensions.
Accounting Years – As per Books
Define Accounting Years as per books.
Any number of years can be defined.
A year can be closed to disable any alteration in transactions.
For a year, Depreciation Calculation can be allowed to be edited manually.
Financial Years – Income Tax
Define Financial Year as per Income Tax.
This will be used for calculating Depreciation as per Income Tax.
A Financial Year can be marked Closed to avoid any alteration in future.
Rates as per Books
Define Depreciation Codes , methods and rates for each accounting year.
Select WDV/SLM method
Activate Multi Shift Depreciation for a Depreciation Code
Define Double Shift / Triple Shift Depreciation Rate
Rates as per - Income Tax Act
Define Depreciation Blocks for each Financial Year
Define Rate for each Block
This will be used for Depreciation Calculation as per I Tax
Rates of Depreciation – Additional Book
In case you have opted for Additional Depreciation Books define
Depreciation Code/ Method / Rate for each Accounting Year
Additional Books can be created to have Depreciation computation
other than requirements of Companies Act e.g. Parent Companies policies
Asset Category
Create a hierarchy of categories upto 3 Levels
Level 1 and Level 2 are mandatory
Level 3 is not mandatory
Asset Category
Default Depreciation Code and Income Tax Block Codes can be defined
100% Write off amount can be defined
Max Write off % can be defined
Prefix for auto-Asset ID generation can be defined for each cateogry
Departments
Define Department Code
Department is one of the mandatory dimension of asset record
Reports can be filtered on Department
Cost Centres
Define Cost Centre Code
Cost Centre is one of the dimension of asset record
Reports can be filtered on Cost Centre
Vendors
Define Vendor Code and update vendor details
Vendor details are mandatory for asset record
Separate vendor wise report can be printed
Users
Define User Code and address details
User is one of the dimension of an asset
Asset under user custody letter can be generated
Locations
Create hierarchy of locations upto 3 levels
Locations are mandatory for asset record
Locations are one of the grouping /filter option in reports
Locations are useful in physical verification process
Entering Transactions
Closing Balances
When Asset details are to be entered from a cut-off date.
Screen similar to Asset Acquisition with additional field for Accumulated Dep.
Alternatively Closing Balance details can be imported from MS Excel File
Acquisition of Assets
Asset Acquisition details can be entered with ease
Several Masters can be added from within the screen e.g. Vendor, User
Control R repeats previous record for faster data entry
Asset ID is auto-generated / manually entered based on parameter selected
Over-riding Rate / Method for an asset can be defined
Asset Acquisition details can be entered with ease
Several Masters can be added from within this screen
Control R repeats previous record for faster data entry
Asset ID is auto-generated / manually entered based on parameter selected
Cost Breakup
Asset Cost break-up details can be entered
Separate report available for cost break-up details
Easy data entry with copy/paste functions
Asset Acquisition details can be entered with ease
Several Masters can be added from within this screen
Control R repeats previous record for faster data entry
Asset ID is auto-generated / manually entered based on parameter selected
Asset Cost break-up details can be entered
Separate report available for cost break-up details
Easy data entry with copy/paste functions
Quantity Details
Quickly add several records for multiple quantities
Multiple entries can be generated for 1 or user defined quantity
Custom Physical ID can be generated
Sale/Discarding of Assets
Sale / Discarding transaction of asset is recorded in this screen
Profit / Loss as per Books is auto-computed
Sale value is reduced from the I Tax Block
For several transactions , bulk sale option can be used
Splitting of Assets
Split an asset in 2 or more assets
Generally required when selling part of an asset
Cost and Depreciation Details are split across all financial years
Auto Split based on quantity
Depreciation Calculation – As per Books
Calculate depreciation for any period – Month / Quarter / Full Year
Depreciation Period continuity maintained
Calculate depreciation for any category at a time
Only Last depreciation entry allowed to be modified / deleted
Bulk modification of Dep. Amount thru Excel Import
Depreciation Calculation – Income Tax
Calculate Depreciation as per Income Tax block wise
Start from any financial year by entering Opening WDV
Depreciation Calculation – Additional Books
Calculate Depreciation for Additional Books
This is same as calculating depreciation as per Books
Change of Asset Category
Record change of category of any Asset
It does not change depreciation
Schedules prior to change will show Previous Category
Schedules post change will show New Category
Reclassification of Assets-Books
Change Depreciation Code for an asset retrospectively
Auto computes change in accumulated depreciation
Schedules prior to change are not affected
Reclassification of Assets-Additional Books
Change Depreciation Code for an asset retrospectively
Auto computes change in accumulated depreciation
Schedules prior to change are not affected
Change of Method
Effect change in Method
From WDV to SLM or vise versa
Auto computes difference in accumulated depreciation
Schedules prior to change are un affected
Change of Rates
Effect change in Rate retrospectively
Auto computes difference in accumulated depreciation
Schedules prior to change are un affected
Assets Maintenance Contracts
Record AMC details for each asset
Bulk Update for quicker data entry
AMC Reminder and reports available
Insurance
Record Insurance details for each asset
Bulk Update for quicker data entry
Insurance Reminder and reports available
Physical Verification
Record Physical Verification Details
Filters for quicker data entry
Read Bar Code Scanner file for automated verification
Shifting of Asset – Transfer within same unit
Record change of Department, location , cost centre and User
Schedule prior to change will show previous value
Schedule post change will show new value
Shifting of Asset – Transfer out to different unit
Record shifting of assets to a different unit
Print Transfer Memo
This asset can be entered by the receiving unit as “Shifted-in” Asset
Such assets are removed during consolidation
Reports
Fixed Assets Register
V
Fixed Assets Register- Additional Books
V
Fixed Asset Schedule Books- Ratewise
Fixed Asset Schedule Books- Categorywise
V
Fixed Asset Schedule Books- Groupwise
V
Fixed Asset Register - Grouped
V
FA Schedule Comparision - Categorywise
V
Depreciation Statement - Books
V
Depreciation Statement – Shift wise Details
V
Depreciation Statement – Additional Book
V
Fixed Assets Schedule – Income Tax
V
Asset Classification for Income Tax
Form 3CD
V
Fixed Assets Ledger
V
Change of Asset Category
V
Re-Classification Report
V
Sold/Discarded Report
V
Report – Asset Acquired Datewise
V
Report – Asset Acquired Purchase Orderwise
V
Report – Asset Acquired Vendor wise
V
Report – Asset Cost Breakup
C
Report – Asset Shifted
V
Report – Asset Costing
V
Report – Addition made to an Asset
C
Report – Physical Verification
C
Report – Asset Maintenance
C
Report – Insurance
C
Report – Warranty
C
Report – Asset Under User Custody
C
Fixed Asset Cards
Print Barcode – Barcode Printers
Print Bar Code labels on any PPLB compliant Bar Code Printer
Print one Bar Code and upto 4 human readable texts
Fix bar code width , height
Report – Categorywise Summary
c
Report – Asset Overriding
c
Report – Asset Requiring Replacement
c
Fixed Asset Listing
Quick Transaction listing generator
Define the columns for listing
Define the filters for listing
Export the result to MS Excel
Depreciation Amount Mismatch
C
Fixed Asset Register WDV <=
c
Utilities
Asset Enquiry
Search for an asset / assets meeting given criteria
View the assets in the grid
View the control totals
View Fixed Asset at a Glance
View complete asset history on screen
View Cost Break-up, Sale , UDF and dependant assets
View depreciation details
AMC & Warranty Reminder
View AMC expiring on a given date
View Warranty expiring on a given date
Useful reminder for managing renewals
Bulk Update – Income Tax
For any change in the Income Tax Block Code , bulk update
Update available based on Category and year
User Defined Fields
Create User defined fields for an asset10 Text-type and 5 Date-type fields can be defined
Consolidate Data
Consolidate multiple database for corporate level reporting
Useful for a multi branch organisation
Excel Import
Import Closing Balance details / Asset acquisition details from MS Excel data
Templates provided for easy import
Step-by-step wizard points all errors and imports only when data fully validated
User Management
User level menu access User level company access
