Asset Management is a comprehensive module within LinkSOFT, meticulously designed to provide organisations with precise control and oversight of their fixed assets. It serves as a central repository for recording, tracking, and reporting on various asset details, from acquisition and depreciation to disposal. This module is instrumental in maintaining financial accuracy, optimising asset utilisation, and ensuring compliance, offering a structured approach to managing valuable company resources.

Here are the key features and functionalities of the Asset Management module:

1. Asset Maintenance and Core Details : This function allows for the creation and editing of individual asset records. Critical information includes the Original Cost (which can only be changed if no depreciation or activity transactions exist), the Placed in Service Date (used for depreciation schedules), and Salvage Value (estimated value at the end of useful life). It also tracks Prior Accumulated Depreciation and the asset's Estimated Useful Life. Assets can be voided if created by mistake, but only if no transactions are linked to them.
2. Asset Grouping and Classification : Assets can be organised into Groups for reporting and depreciation purposes. These groups also play a role in creating General Ledger codes for assets. Classifications provide a brief description for types of assets (e.g., Land, Motor Vehicle) and define the depreciation rule that applies to them. They can also have General Ledger account codes assigned, which will be used if the asset has a GL Group.
3. Asset Locations: The module defines valid Locations where assets are physically situated. Each location can have a description, associated General Ledger accounts for activities and depreciation, and notes (e.g., address, manager details). Locations can be voided if not attached to any assets.
4. Depreciation Management : This core feature allows for the systematic calculation of asset value reduction over time. It uses User Configurable Rules for depreciation, including different Depreciation Methods (e.g., "D" for diminishing value and "S" for straight line, with their descriptions displayed on reports). The system can generate Depreciation Schedules and perform Period End Depreciation calculations. Issues with incorrect depreciation calculations and written down value (WDV) for disposed assets have been addressed, ensuring accurate financial reporting.
5. Asset Activities and Disposal : The system records various activities throughout an asset's life, such as Additions and Revaluations. Crucially, it manages Disposals, which involves removing an asset with transactions from the books, and correctly calculates Gain/Loss on Disposal. The "Activity Book" details can be included in the "Asset Activity" for an item, providing more granular insights into depreciation from specific books.
6. General Ledger (GL) Integration : Asset Management can integrate with the General Ledger system, automatically creating Journals for asset activities and depreciation. If an asset has a GL Group assigned, the corresponding GL Account codes will be used for these entries, streamlining financial reconciliation.
7. Employee and Project Allocation : Assets can be allocated to Employees and Projects. This allows for tracking which employee is responsible for an asset or which project is utilising specific assets. This functionality can also leverage inventory management's Lot/Bin tracking for detailed asset movement and tracking to employees (which can be mapped to bin numbers based on territory) and projects.
8. Reporting and Analysis : The module offers a comprehensive suite of reports for detailed oversight. These include Asset Activity, Asset Depreciation Projection, Asset Depreciation Schedule, Asset Journal, Asset Listing, Asset Not Depreciated, and Asset Register reports. Reports can be filtered by asset code and description, and display descriptions for depreciation methods and written down value for clarity. Historical data issues, such as missing employee details from reports, have been addressed.
9. Data Management and Utilities : The system supports Importing Large Volume Assets using file import templates. Utilities are available for Cleanup and Reset Asset Records, particularly useful for initial setup to ensure accurate starting values.
10. Security and Access: Role-based Security controls access to Asset Management functionalities, ensuring that only authorised users can create, edit, or view asset records. Licensing also restricts access to these features.