SapphireOne assets main menu modes allows you to track and control your company’s assets with ease. Monitoring the purchase or revaluation of assets, tracking the service and repair requirements for plant and machinery or motor vehicles is easily achieved using simple data entry screens.
SapphireOne assets provides for multiple valuation methods for depreciation, including company and tax. Keeping track of insurance details, personal usage % as well as location management and contract management are all available.
Custom screens allow for specific details to be recorded, such as text, dates and photos relating to your assets.The design concept of SapphireOne Assets module has been based on the following two principles.
This is the calculation of multiple depreciation schedules in relation to the company assets. Only one depreciation schedule may be transferred to the General Ledger. This covers the ATO Standard, plus the Company required value, i.e.: your Company may wish to retain a record of the WDV Tax value, plus the potential WDV sale value. It is suggested that only the transactions relating to the ATO Standard are transferred to SapphireOne, while the Company transactions are kept within Assets, to give a true reflection of the assets worth.
The purchase, sale and control of your company’s assets are achieved with ease. This includes the ability to record locations and the staff responsible for the asset. Also, the asset details regarding Warranty, repairs and loans can be tracked, allowing full recording of the assets life in the company.
SapphireOne now includes the functionality to depreciate the value of your asset by 100% in 1 payment.
After creating a new asset:
Next time you process Auto Depreciation the asset will be depreciated all at once instead of over the years.
There are lots of tools available in all modules of SapphireOne ERP Enterprise business Accounting software which are useful for custom management of accounting system and fine tuning.