Fixed Asset Management - PrismERP

Fixed Asset Management in PrismERP is used to record, manage, and track an organization's fixed assets throughout their lifecycle, from asset registration and valuation to depreciation, assignment, and disposal-related activities. In this video, we demonstrate the complete Fixed Asset Management workflow in PrismERP. The video covers fixed asset accounts, ROU asset accounts, asset categories, asset masters, asset items, asset products, asset registration, asset addition, adjustment, depreciation, revaluation, asset assignment, lease contracts, and lease asset registration. *Key Steps Covered:* Create Fixed Asset Accounts with account details, opening balance, branch, currency, and review account transactions through the Asset Account List and Ledger Understand ROU (Right-of-Use) Asset Accounts and their use for leased assets Create Asset Categories and configure Lease Types, Depreciation Policies, Depreciation Rate, and asset Type as Tangible or Intangible Create Asset Masters and Asset Items by linking asset accounts and categories, and configure depreciation rates and accounts Create Asset Products with SKU, H.S. Code, Brand, serial configuration, Step Size, Unit of Measurement, and Unidentified or Lot options Receive Asset Products through Purchase Delivery or GRN and register the received assets using the relevant GRN and automatically loaded serial numbers Create and complete Asset Registration Batches by reviewing the batch information and changing the status from Pending to Completed Create Asset Addition to increase an existing asset's value using an approved Journal Voucher and allocate the addition amount to individual assets Create Asset Adjustment to update an existing asset's value using a Journal Voucher and review the updated Closing Balance Process Asset Depreciation by configuring the fiscal period, dates, Day Wise Calculation, and applicable asset filters, then calculate and complete the depreciation batch Create Asset Revaluation using a Journal Voucher, review the asset balances, enter the revised value, and complete the revaluation batch Create Asset Assignments by selecting the responsible party, organizational details, asset information, and Handover By, then review and release assigned assets when returned Create and manage Lease Contracts with lessor, lease period, amount, payment frequency, security money, renewal, growth rate, and related asset information Manage Lease Contract statuses including Pending, In Progress, Approved, Rejected, and Closed Register leased assets from approved Lease Contracts and automatically load the related branch, project, asset, product, serial number, and opening balance Complete the leased asset registration by reviewing the Asset Registration Batch and changing its status from Pending to Completed Explore More PrismERP Documentation: https://docs.prismerp.net/ PrismERP Pricing: https://store.divineit.net/ PrismERP Website: https://www.prismerp.net/ #PrismERP #FixedAssetManagement #AssetManagement #AssetTracking #AssetDepreciation #AssetRegistration #AssetRevaluation #AssetAssignment #LeaseManagement #ERPSoftware