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This software enables a business to determine the
status of its fixed assets including book values at any accounting
period. It has facilities to determine depreciation costs that can be
transferred to the accounting system automatically.
Features:
• Depreciation costs are calculated at the end of every
accounting period for every item, either in print or in the form of a
file with proper formats, which can be read direct by the accounting
system to take care of depreciation accounting at every
period.
• Every item will be allocated to a group such as motor
vehicle, building, machinery, etc.,
• Items can have variable depreciation rates within their
life time
• Items can be grouped both by department and class so
that the co. can decide on how to categorize their fixed asset
either for depreciation calculation or for look-up purpose.
• Set up of group account codes corresponding to general
ledger entries for original value, depreciation expense and sale of
asset accounts.
• Fixed asset item entry is possible at any time.
• Record on the Use of the fixed asset item including its
book value and remaining life time
. Automatic freezing of depreciation upon items being
removed from service when required .
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