Wings ERP Fixed Assets

Assets

Wings manages all kinds of assets easily:

• All assets, including buildings, plant and machinery, equipment, computers, vehicles
• User-defined classification
• Bought singly or in bulk
• Bulk Asset Creation Tool to help create masters of assets purchased in bulk (e.g: 1000 chairs)

Manage each asset of your organization through its entire life cycle, whether yours is a business enterprise, a not-for-profit organization, or a government body.

Identify every asset by a unique name or number, assign it to any location and track it till disposed of.

Wings offers the complete purchase flow.

Identify & Tag

With Wings, you can identify and tag assets easily:

• Identify assets with unique numbers
• Tag labels to assets for stock taking in future
• Create unique labels for each asset to include name, location, classification and barcodesM
• Manual or automatic generation of Asset Ids
• Print labels to stick on assets for identification (use permanent labels)
• Design and print Labels

You may record sales and disposal of assets whichever it is done and account for financial gains or losses.

Asset Database

Wings maintains a complete database of all assets including all relevant details like:

• Manufacturer
• Vendor
• Purchase date
• Commissioned date
• Purchase cost
• Warranty
• AMC
• Insurance
• Depreciation for books

Maintain complete Fixed Assets Register with all details of each asset. Have a single database of all your organisation's assets and ensures compliance with statutory obligations like company law etc.

For books

Wings can calculate depreciation for accounts.

• Calculate Depreciation for books (Company law, in India)
• Manage depreciation on both SLM and WDV methods
• Depreciation can be based on periods, like Monthly, Quarterly, Half-yearly etc
• Written down values are carried forward to subsequent years
• There can be a separate treatment for Low Value Assets as per Company law

For Income Tax

In addition to depreciation for books, Wings can calculated depreciation for Indian income tax on block of assets basis.

• Block of Assets as per law, which can be user-defined)
• Rates of depreciation assigned to individual Asset Types
• Depreciation calculated automatically
• Carry forward of written down values to subsequent year

Asset Maintenance Management

Manage asset maintenance contracts and renewals in a timely manner to ensure that your assets are not without an AMC cover.

Ensure all assets are covered by AMC:

• Specify if AMC should be for individual assets
• Specify AMC expiry
• AMC expiry reminders
• Set Insurance expiry reminders
• Manage AMC expiry and renewal

Insurance

Manage insurance cover for each asset. Capture insurance related data including renewal dates. Ensure your assets do not remain uninsured.

• Specify if insurance to be tracked for individual assets
• Define insurance providers
• Specify insurance expiry
• Set Insurance expiry reminders
• Manage insurance expiry and renewal

Warranties

Manage asset warranty expiry.

• Specify if warranty to be tracked for individual assets
• Specify warranty expiry
• Warranty expiry reminders
• Manage warranty expiries

Track User

Wings helps you track the user of each asset:

• Attach each asset to a user (an employee)
• Track current possession or user of assets
• Track assets by location