Fixed Asset Management by YENNES Infotec (P) Limited

Fixed Asset Management – Tally.ERP9

About YENNES

21 Years of Excellence

YENNES Infotec (P) Limited was established in the year 1994.

Multiple Branches

YENNES Infotec (P) Limited has its branches in multiple locations, including Puducherry and Madurai in Tamil Nadu, and has emerged as an Authorized Master Tally Partner in Tamil Nadu.

Our Mission

“We look to enhance the business of our clients by implementing robust technology driven solutions and by developing a sustainable long term relationship with our clients to ensure that we share mutual growth and benefits”

SERVICES OFFERED BY YENNES

YENNES has stood tall in this highly competitive market through its efficient solutions which are dependable and centered towards meeting the client needs.Currently, YENNES offers the following services:

Tally SupportTally SalesTally ImplementationTally CustomizationTally Training

Clients

Why to choose Tally ?The Complete Business Management Solution

At Tally, we have a hard-earned reputation for empowering businesses with stable, effective software products. Tally.ERP 9 has all the features required for high-performance business management.

Advantages :

• Powerful remote capabilities that boost collaboration • Easy to find qualified personnel • Easy to customise• Low cost of ownership via quick implementation, Tally Integrator, Support Centre...

Why Tally.ERP 9? • Tally.ERP 9 with its numerous built in capabilities

and functionalities is flexible enough to adapt to rapidly evolving business processes.

• Features can be implemented as your business grows

• Solutions can be designed, developed, deployed and implemented within a short span of time

• Solutions can be implemented incrementally• Interface with other business applications • Easily Maintainable with Limited Resources• Trusted and Value for money

Tally.ERP 9 is an enterprise platform that is designed to meet the challenges of growth

Customisability

Implementability

Supportability

Flexibility

Scalability

Integrate-ability

Tally.ERP 9

Tally.NET Services

Tally.ERP 9 - The Technology Behind• 3 tier architecture which provides immense

flexibility• Native Scripting Language - Tally Definition

Language (TDL)• Inbuilt Object Oriented Database

Management System (OODBMS)

Benefits:• Robust and reliable engine• Very small foot print• No additional third party licenses are required• Low hardware infrastructure requirement

Tally.ERP 9 keeps the user insulated from and yet provides the technological strength

Tally.ERP 9 - Implementation of FeaturesTally.ERP 9 provides immense flexibility in the way it is deployed and implemented forvarious business scenarios and geographies.

Self implement Tally.ERP 9 based on business requirements and get started

Flexibility to implement additional features at any time during the financial year

Implement as per the special needs of your business entities

Existing reports and forms can be customized

New reports, processes and functions can be built

Industry / vertical specific solutions can be developed to address specific segments like Distribution, Construction, Automobile...

Building Business specific solutions on Tally.ERP 9

Tally.ERP 9 is designed to provide and support customized & extended solutions that will add new functionality, business processes and operations. Hence, if you require customizations, Tally.ERP 9 is extendable.

Challenges of Fixed Asset ManagementDealing with the volume of data

Information about Depreciation

Proper system to record all information

Maintain the Asset Register

Data Capture

Streamlining Compliance

Exploits real-time access to asset descriptions and analysis

Making more frequent audits a viable proposition

More efficient time & use of resources

Efficient Accounts Management• Simple voucher entries and auto updation of the same in the reports

and total calculations• Provides a very simple platform to operate with even basic

accounting knowledge.• Effective accounts management ensures that all statutory

compliances are up to date. • Easy monitoring and management of receivables and payables. • Group and Individual Company performance reports

Uniqueness Addressed:

“Multiple Entities under the same roof.”“Greyness (Ambiguity) in transactions.”

Fixed Asset – An Overview

Fixed Asset Management – An Overview

Structure of Fixed Asset Management

Tally.ERP 9 for Fixed Asset Management

Process Flow

Primary Requirement

Tally.ERP 9 – Fitment

Structure of Fixed Asset Management

Fixed AssetManagement

Depreciation Methods

MIS Reports

AssetClassification

Asset Depreciation

AssetDisposal

Capital Purchase

Fixed asset management – An Overview

DEPRECIATION METHODS

FIXED ASSET MANAGEMENT ON TALLY.ERP 9

MIS REPORTSASSET

DEPRECIATION

· User can define the depreciation methods

· Rate of depreciation can be defined for various depreciation method

· Date of applicability of depreciation can be mentioned

· Asset depreciation details can be recorded along with below mentioned details

- Asset location

- Asset ID

- Put to use date

- Custodian name

- Purchase rate and quantity

· Asset put to use report

· Insurance details

· Warranty & AMC details

· Custodian details

· Asset Register

ASSET CLASSIFICATION

CAPITAL PURCHASE

ASSET DISPOSAL

· Asset group creation with depreciation method, effective date and rate tag

· Item classification with

- Location details

- Supplier name

- Bill Date

- Put to use Date

- Insurance Details

- Warranty Details

- AMC Details

· Below mentioned details can be recorded while capital purchasing

- Asset location

- Asset ID

- Put to use date

- Custodian name


· While disposing assets below mentioned details can be captured for reference in fixed asset register

- Asset location

- Asset ID

- Put to use date

- Custodian name


Primary Requirement – Depreciation Method

Category / Module Major Requirement Explanation

Depreciation Method

Depreciation method name

Various depreciation methods can be created in the system using depreciation master. Depreciation rate can be defined with its date of effectiveness.

Classification of assets

Provision to segregate certain group of asset under one category is provided. Methods of depreciations and rate of depreciation can be mentioned here so that it can be further referred.

Grouping of asset Various assets can be grouped under a single group so that same depreciation methodology is applicable to all the items. One time configuration in group level will be applicable to all the items.

Asset items Asset item can be created under certain group. Master will contain the details like supplier of the asset , billed date, rate, total cost, AMC, Warranty, service, location and put to use date details.

Tally.ERP 9 Fitment – Depreciation Method

SL No. Requirement Part of Tally.ERP 9 Part of Solution

1 Depreciation Master Creation Yes

2 Tagging of masters under fixed asset group

Yes

3 Multiple master creations Yes

4 Tagging of Depreciation methods to asset classifications with rates

Yes

5 Fixed asset report generation based on depreciation methods

Yes

Asset Classification


Asset Classification

Asset classification User can create asset classification and mention the method of depreciation. Effective date and rate of depreciation can be also mentioned at this place.

Asset group creation Multiple asset groups can be created under the asset classification. Asset group will inherit the property of asset classification.

Asset item creation Asset can be created under a particular asset group. Detail of supplier from whom the asset item is purchased and bill date are captured in the master.

Put to use date According to companies act, the depreciation is to be calculated on the asset put to use date.

Insurance & Warranty Policy details, expiry date, type of insurance and effective date of insurance with AMC details can be stored for future reference in asset item master.

Tally.ERP 9 Fitment – Asset classificationSL No. Requirement Part of Tally.ERP 9 Part of Solution

1 Asset classification Yes

2 Set/Alter depreciation details Yes

3 Method of depreciation Yes

4 Effective date Yes

5 Rate of depreciation Yes

6 Asset group master Yes

7 Asset item master Yes

8 Asset location details Yes

9 Asset ID details Yes

10 Asset supplier name Yes

11 Bill date for asset Yes

12 Put to use date for asset Yes

Process Flow – Capital Purchase Management

Capital Purchase Asset Disposal Asset Depreciation

User can capture the location where the asset need to be put after purchase

CAPITAL PURCHASE MANAGEMENT

User can create three different voucher types for recording capital purchase, asset disposal and asset depreciation

User can even mention the name of the concerned person who will be the owner of the asset

User can tag the purchase rate as well as the quantity details while raising the capital purchase invoice for future reference

Transaction detailsare stored in database

Purchase / Disposal /

Depreciation details

Primary Requirement – Capital Purchase Management


Capital Purchase Management

Capital purchase management

Capital purchase records can be recorded in the system with the complete details. Like, supplier from whom it was purchased, Annual maintenance details and where the asset need to be shipped.

Capital depreciation Based on the method of depreciation tagging at the item level, user can record the depreciation details in the system after a period of time.

Capital disposal Once the life of asset is over and need to be disposed. Same can be captured in the system.

Custodian details System provide the capability to record the name of the custodian under whom the asset is currently held. Similarly the location where the asset currently resides.

Tally.ERP 9 Fitment – Capital Purchase Management

SL No. Requirement Part of Tally.ERP 9

Part of Solution

1 Voucher type creation for capital purchase Yes

2 Capturing asset location details in transactions

Yes

3 Asset ID details Yes

4 Quantity of asset purchased Yes

5 Rate of items Yes

6 Total Amount Yes

7 Custodian details Yes

8 Period under certain custody Yes

Tally.ERP 9 Fitment – Capital Depreciation Management


1 Voucher type creation for capital depreciation

Yes

2 Asset Name for which depreciation is calculated

Yes

3 Asset ID and basic details Yes

4 Location where asset is currently available Yes

5 ID of asset Yes

6 Depreciated amount based on depreciation methods

Yes

Tally.ERP 9 Fitment – Capital Disposal Management


1 Voucher type creation for Capital disposal Yes

2 Location from where asset is disposed Yes

3 Item disposed details Yes

4 Quantity of item disposed details Yes

5 Disposal rate Yes

6 Disposal amount Yes

7 Custodian details who is in charge of disposal

Yes

Primary Requirement – MIS ReportsCategory / Module Major Requirement Explanation

MIS Reports Asset put to use report Asset put to use report provide the details of asset, when it was purchased, purchased amount and from when the asset is under operation. Facility is provided in report to enter the put to use date. Since the depreciation is calculated based on this date.

Insurance details report

This report provides complete insurance detail for the assets. Type of policies, policy number and expiry dates are available in this report. Asset details which are not insured are also available in this report.

Warranty number & AMC details report

Report provide Warranty number and validity period of assets.AMC details are also available based on which servicing decision can be taken.

Custodian report Report provide the detail of the custodian under whom the asset resides with period wise.

Fixed asset register Fixed asset register provides complete summary of an asset. Capital purchase, AMC, services history, warranty and disposal details based on the period.

Schedule 3 reports Schedule 3 reports provide the depreciation details of an asset. Information like Opening balance, depreciation amount and the closing balance of the asset are viewed in this report.

Tally.ERP 9 Fitment – MIS ReportsSL No. Requirement Part of Solution

1 Asset put to use report Yes

2 Insurance details report Yes

3 Warranty & AMC details report Yes

4 Custodian Details report Yes

5 Asset Register Yes

6 Schedule 3 reports Yes

7 Written down Value report Yes

8 Straight line Method report Yes

Data Integration to Tally

Also you can integrate data to Tally from Existing Software

Thank You!

Email : [email protected] Web : www.yennes.com

YENNES Infotec (P) Limited

5 Star Certified Partner

Fixed Asset Management by YENNES Infotec (P) Limited

Software

Transcript of Fixed Asset Management by YENNES Infotec (P) Limited