Tag: assets management

  • Managing Assets and Depreciation in SapphireOne

    Managing Assets and Depreciation in SapphireOne

    Assets Software to manage your Assets Depreciations

    SapphireOne’s Assets Software is fully integrated across all modes of the application, enabling businesses to manage company assets and depreciation in a structured, accurate and efficient way. Because Assets is directly connected to Financials, relevant transactions can flow seamlessly through to the General Ledger where required, while still allowing detailed asset-level tracking to remain within the Assets module.

    When new data is entered in the Assets mode, a range of transaction types can be generated. These transactions fall into two clear groups, depending on whether they integrate with Financials or remain internal to Assets.

    Asset transactions transferred to Financials

    The following transactions are posted to Financials as General Journals (GJ), Vendor Invoices (VI) or Money Payments (MP):

    • DGJ – Depreciation General Journal
    • PGJ – Purchase General Journal
    • SGJ – Disposal Sale General Journal
    • VGJ – Revaluation General Journal
    • RGJ – Reverse Sale General Journal

    These transactions ensure that depreciation, purchases, disposals and revaluations are correctly reflected in your General Ledger.

    Asset transactions retained within Assets

    The following transactions remain within the Assets module and are not transferred to Financials:

    • DNT – Depreciation Note
    • DLN – Depreciation Loan
    • DSR – Depreciation Service
    • DRP – Depreciation Repair
    • DCO – Depreciation Company

    These entries allow you to maintain a complete asset history without affecting your financial reporting.

    Core principles of the Assets Software

    • Asset depreciation – SapphireOne supports multiple depreciation schedules for each asset. While only one depreciation schedule is transferred to the General Ledger (typically the ATO-compliant schedule), additional schedules can be retained within Assets for internal analysis. For example, a business may track both the written-down tax value and a projected resale value. Retaining company-specific valuations within Assets provides greater insight into the true worth of assets without distorting statutory financials.
    • Asset control and lifecycle management – SapphireOne allows assets to be purchased, sold and controlled with ease. Each asset record can store detailed information including location, responsible staff member, warranty periods, repairs, servicing and associated loans. This provides full visibility across the entire asset lifecycle, supporting stronger governance and more informed decision-making.
  • Maintain and Manage Asset Records in Your Database with SapphireOne Asset Inquiry

    Maintain and Manage Asset Records in Your Database with SapphireOne Asset Inquiry

    Assets is the resources of the business. It is the material one has, to make a difference. A nice term for it is something that has probable future economic benefit, or which has a future and is potentially valuable. For example, food in the refrigerator is an asset because it has a value and we can eat it. Asset Inquiry and management refers to the management of your company’s assets. The term also applies to dealing with other organisations’ or companies’ investments. Assets can be tangible, are things we can touch and include buildings, land, computers, or office equipment. Intangible assets are things we cannot touch such as intellectual property, goodwill, financial assets, or human capital.

    Asset Inquiry in a Business

    In business, assets usually classed in the following way–

    1. Cash or money – This is the one of the main assets in business.
    2. Supplies – Supplies are those types of things that you use or consume in business. Before businesses start using them, they are called supplies.
    3. Prepaid – Prepaid usually are paid in advance before one can use it, for example pre-paid insurance.
    4. Inventory – Inventory is when business buy stuff, put price tags on it and invite customer to buy it. Inventory is like store where customers are invited to buy items. Supplies are used inside the business for internal use only and inventory has fresh tag on it and the customers by the inventory.
    5. Accounts receivable – It is when other people owe you money.
    6. Land, building, Autos, Equipment – These are long-lived assets but these are still assets as they have future potential value.
    7. Intangibles – Trademarks are intangibles assets; we can’t touch it but it has probable future economical benefits.
    SapphireOne's Asset Inquiry

    Sapphire single user and SapphireOne client server asset inquiry and management functionality makes managing assets a breeze. In SapphireOne it is easy to manage assets owned by a company or by an individual.  SapphireOne ensures you to keep track of the depreciation that occurs on those assets . To know more , Check SapphireOne’s Asset inquiry module.