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Fixed asset management and tracking with depreciation, asset allocation and movement tracking.
Assets An Asset is any valuable Item owned by a Company. Examples of Assets include furniture, computers, mobile phones, printers, cars, etc. Assets may be leased to be used by the employees of a Company. In OneHash, the Asset record is the heart of fixed asset management. All the transactions related to an Asset like purchasing, sales, depreciation, scrapping, movement, or maintenance will be managed against the Asset record. To access the Asset list, go to: ++Home > Assets > Assets > A
Asset Value Adjustment
Asset Value Adjustment If the value of an Asset changed suddenly due to any damages, it can be recorded using Asset Value Adjustment. In case of fixed asset management, sometimes the value of an asset needs some adjustment. For example, if a laptop gets damaged for some reason, and its value will be dropped instantly. And in that case, we have to readjust the value of the asset. To access the Asset Value Adjustment, go to: ++Home > Assets > Maintenance > Asset Value Adjustment++
Asset Category An Asset Category classifies different assets of a Company. The first step towards asset management is creating an Asset Category based on the type of assets. For example, all your desktops and laptops can be part of an Asset Category named "Electronic Equipments". In Asset Category, you can set default a depreciation method, periodicity and depreciation related accounts, which will apply to all the assets under the category.
Creating an Asset Maintenance Team
The Asset Maintenance Team is responsible for carrying out maintenance activities on the Asset. The maintenance activities can be cleaning, polishing, servicing, or any other activity required to maintain the Asset in good condition. To access the Asset Maintenance Team, go to: ++Home > Asset > Maintenance > Asset Maintenance Team++ Before creating and using Asset Maintenance Team, it is advised to create the following first: [Employee](htt
Asset Location Asset Location shows where an Asset is located. The assets that your organization owns can be located at various facilities like administrative offices, manufacturing plants, warehouses, etc. In OneHash you can create a 'Location' for each of your facilities and track the assets which are present in these locations. You can also add Latitude and Longitude of the location. When an asset is moved from one location to another, you need to create an Asset Movement record. Map o
How to create Asset Maintenance?
Asset Maintenance refers to any activity done on Assets to maintain their performance or condition. OneHash provides features to track the details of individual maintenance/calibration tasks for an asset by date, the person responsible for the maintenance, and future maintenance due date. To perform Asset Maintenance in OneHash: Enable 'Maintenance Required' from the Asset master. Create an Asset Maintenance Team. Create the Asset Maintenance. An Asset Mainte
Scrapping an Asset
Scrapping an Asset When an asset is no longer usable, it is scrapped. You can scrap an asset anytime using the "Scrap Asset" button in the Asset record. You will be asked for confirmation, click on Yes and the asset will be scrapped. The "Gain/Loss Account on Asset Disposal" account mentioned in the Company is debited by the Current Value (After Depreciation) of the asset. A Journal Entry will be cre
Selling an Asset
To sell an asset, open the asset record and clicking on the Sell Asset button. This will take you to a Sales Invoice. In the Sales Invoice, enter details like Customer and Payment Due Date. On submission of the Sales Invoice, following accounting entries will take place: "Receivable Account" (Debtors) will be debited by the sales amount. "Fixed Asset Account" will be
How to create an Asset Movement?
Asset Movement refers to moving an Asset from one Location to another. In OneHash, you can track the location of an asset or to whom it is issued. For tracking, you need to create an Asset Movement transaction, whenever the asset is moved from one location to another. You can also keep a track of issuance of an asset to any employee. To access the Asset Movement list, go to: ++Home > Asset > Assets > Asset Movement++ !(https://storage.crisp.chat/users/helpdesk/website/
Asset Depreciation The system automatically creates a schedule for depreciation based on depreciation method and other related inputs like 'Available to Use Date' in the Asset record. It is also possible to create multiple depreciation schedules for different Finance Books. You need to tick the 'Calculate Depreciation' checkbox while creating an asset for calculating its depreciation and adding entries to the depreciation table in the Asset record. !(https://storage.crisp.chat/users/helpd
Purchasing an Asset
Purchasing an Asset For purchasing a new asset: Create an Asset Category Create an related Item with 'Is Fixed Asset' enabled for creating the asset. You may also enable 'Auto Create Assets on Purchase' for creating assets automatically. (Optional) Then, the purchase cycle should be followed for purchasing an ass