Fixed Asset management System (FAMS)
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29-12-2010, 08:07 PM

Fixed Asset management System (FAMS)
A Fixed Asset management System (FAMS) primarily helps you in keeping a track record of the assets of a particular organisation and its whereabouts. The Depreciation in the value of the system can also be calculated and also the the Cost, Accumulated Depreciation and WDV of the asset at the time of the sale of the asset.
Assets classification:
The assets are divided into groups such as Building, Plant & Machinery, etc. These groups may have subgroups as well. For example, a group called Plant & Machinery can have subgroups such as Kitchen Equipment and Laundry Equipment.
Asset allocation:
Each of the asset in the list can be assigned a Unit / Location / User Department / Responsible Department etc.
Asset Details
The details of the asset can be stored such as Cost, Purchase date, Installation date etc.
Cost break-up for Purchases
The cost of the asset can be broken up into Basic Cost of the Asset, incidental costs etc which being the freight, cartage, custom duties, installation cost , and all these can be entered separately.

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