OpenAsset Fixed Asset Management Software

OpenAsset Asset Management software provides you with an easy-to-manage single version of the truth for your assets. It enables you to maintain and control the complete asset lifecycle across depreciating or non-depreciating assets from creation to depreciation, revaluation and disposal. OpenAsset supports detailed asset management including insurance, while providing tight integration that creates accounting entries and fixed assets from purchases ensuring that no equipment slips through the cracks.

OpenAsset is a web-based fixed asset management system ideal for any organization that requires remote access to its asset register. This software is a convenient, web-based fixed asset register where assets can be added, deleted or edited from any PC with Internet or Intranet access.

  • Handles an unlimited number of assets, companies, and users
  • All data is maintained in one central location for simple consolidation, removing the need to copy, move or merge files
  • Built-in tax and depreciation  expertise Standardize asset types, methods, user-defined fields, filters, and reports that are used-minimizing the risk of both international and inadvertent differences

With OpenAsset Fixed Assets Software, tax departments can optimize their fixed asset management and depreciation process. OpenAsset provides accurate depreciation calculations, expert guidance, and timely regulatory updates that enable tax and accounting professionals to maximize their productivity.

OpenAsset is a tested and proven asset management software solution that integrates best asset tracking practices; bar coding, Radio Frequency Identification (RFID), data importing and organizes it all in a scalable database repository.

Asset Management - Lifecycle Tracking

  • Receiving and Asset Data Collection into Mobile Devices or a Webpage.
  • Deployment - assigning the assets and moving them into production
  • Mobile software tools for PocketPC & Palm devices
  • Moves/Adds/Changes
  • Fixed Asset Software - Inventory
  • Asset Warranty
  • Asset Alerts on data details
  • Contracts including Lease Management
  • Depreciation and Disposal

Ease of use

OpenAsset  software is easy to install and use. The learning curve is short due to the intuitive layout of the products. Clearly designed screens make the software a pleasure to use.

Complete Asset Searching

Search all asset text and number fields

Security Groups, Permissions & Assignments

  • Administrative User Security Groups and Roles – ability to assign an administrative user to one or more groups with a unique role (i.e. Edit, View Only, etc.)
  • Permission Based Assets – ability to assign the “ownership” of assets to an administrative group. This allows different groups in an organization to manage their own set of assets.
  • Asset Associations/Assignments – associate/assign an asset to internal employees or departments and/or external customers.

Asset Classifications & Locations

  • define types of assets (i.e. PCs, laptops, servers, PDAs, Cell Phones, network equipment, office equipment, etc.)
  • Locations & Sub-Locations – Specify the exact location of the asset. Example: “Centurion, “Admin Bldg”, “2nd Floor”, “Room 323″
  • Asset Status – allows multiple status levels (i.e. Active, In Storage, Disposed, etc.)
  • Create Multiple Categorizations with User Defined Categorization Fields

Asset Relationships

Relate Assets to Assets – for defining components - of a particular asset (i.e. a network router card with its own serial number in a large network hub) or for simpler defining relationships between assets

Transaction History

A complete transaction history is maintained as assets are moved around, status levels changed or assets are re-assigned to different end users.

3rd Party Integration

With financial systems so you can automatically exchange data with your accounting and tax compliance systems

Disposal Procedures

The disposal report formally authorizes the fixed asset department to remove from the ledger an asset disposed of by the user department.

When the clerk deletes the record from the fixed asset subsidiary ledger, the system automatically

  • posts an adjusting entry to the fixed asset control account in the general ledger
  • records any loss or gain associated with the disposal
  • prepares a journal voucher
  • A fixed asset status report containing details of the deletion is sent to the fixed asset department for review.

Depreciation

The fixed asset system uses the depreciation schedules to record end-of-period depreciation transactions automatically.

The specific tasks include :

  • calculating the current period’s depreciation
  • updating the accumulated depreciation and book value fields in the subsidiary records
  • posting the total amount of depreciation to the affected general ledger accounts (depreciation expense and accumulated depreciation)
  • recording the depreciation transaction by adding a record to the journal voucher file.
  • Finally, a fixed asset depreciation report is sent to the fixed asset department for review.

Comprehensive Reporting

Whether you need your data sorted by location, asset class or any other asset field, the robust reporting features can provide the information the way you need it. Eliminate the hours spent combing, merging, or manipulating data and gain the flexibility to generate reports easily. Prepare all reports for prior, current, and future years, while maintaining every value reported in the past.

Asset Mapping

Creating or obtaining a map of your assets is an important step in preparing an asset inventory. An asset inventory map can help operators and managers conceptualize their assets as a whole. OpenAsset utilizes GIS and integrated mapping to show the location of your off-site assets.

Training and transfer of skills

Client’s nominated “Asset Team” are incorporated within the verification process to ensure the transfer of skills. Our Vocational Asset Management training courses draws on over 25 years experience applying asset management in organizations.

System Requirements

  • High-speed Internet connection preferred
  • Google Chrome Version 23. or higher recommended