Asset
In the recent new version of ERPNext, an Asset is a valuable resource that is owned by an organization, and it can be both tangible items, such as machinery, office equipment and furniture, buildings and vehicles, and intangible items, such as software licenses, trademarks, patents, etc. They belong to the essence of day-to-days and long-term company strategy.
ERP Next's Asset Management module is a comprehensive, end-to-end solution for managing all the aspects of these assets — from purchasing to retirement. The system enables firms to customize asset information like date of purchase, supplier, cost of purchase, asset type, serial numbers, and location in a methodical manner. The system also supports sophisticated features such as custom depreciation methods, auto-generated depreciation schedules, maintenance logs, and insurance tracking.
Through real-time tracking and consolidation across financial and operational modules, ERPNext keeps asset-related costs, depreciation amount, and capitalizations up-to-date and in sync within financial reports. This helps in transparent financial reporting, accounting standard compliance (such as IFRS and GAAP), and effective resource planning. The module also enables periodic maintenance, asset movements, and disposal actions, allowing businesses to minimize downtime and increase operational productivity.
By leveraging ERP Next's asset management features, organizations have greater visibility and control over their assets and, hence, improve utilization, cost management, and sound decision-making between departments.
- Asset Category
- Assets
- Asset Location
- Asset Movement
- Purchasing an Asset
- Selling an Asset
- Scrapping an Asset
- Asset Shift Allocation