Tally Fixed Assets Module
Tally Fixed Assets Module replace these excel spreadsheets containing asset information with an integrated platform based on Tally ERP 9 that collects the comprehensive data of business process related to fixed assets in the Tally ERP database and produces all the necessary fixed asset reports in compliance with government legislative and managerial requirements aimed at meeting the auditors & managerial requirements and accounting standards.
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Tally ERP 9 ready to use fixed assets module track and manage fixed assets over multi-company, multiple locations, or branches with the fixed assets register.
1. What is Tally ERP 9?
- Tally Accounting software is considered to be one of the best accounting software in the market today.
- It is known for its easy-to-use functions and resource management abilities which makes it to be effective and productive.
- It also comes with up-to-date GST Compliance and other accounting standards.
- Tally ERP 9 is the most upgraded version of the Tally accounting software and it comes with excellent Tally fixed assets Module features for your business to have the utmost control and transparency over fixed assets.
2. What is Tally Fixed Assets Module?
- Tally Fixed assets module, known as the Tally ERP 9 fixed assets register.
- It comes with an efficient analytic feature of managing your fixed asset with keeping a perfect track of each fixed asset and to prevent any misuse.
- Tally ERP 9 gives you the perfect accounting software to record fixed assets entry like of purchase or sales entry along with GST Compliance.
3. How Tally ERP helps in recording Fixed assets?
- Fixed assets entry with Tally gets you the potential to allow and record input and output tax liabilities in summary reports.
- Fixed Assets entry are recorded at their net book value in the accounting software minus the accumulated depreciation and impairment charges yearly.
- Tally ERP 9 fixed assets register automates workflow processes and eliminates errors generally caused by manual entries.
Features of the Tally fixed assets module:
1. Asset Lifecycle Management
- Purchase of assets by manual or by bulk import from MS-Excel
- Asset addition, disposal, and servicing management
- Assignment of user and location
- Booking of Expenditures Department wise
- Componentization of Assets
- Asset Split
- Movement of Assets
- Management of Asset documents
- Closing Balance and Re-Valuation of Asset
- Management of Asset Orders
- Auto-posting Monthly and Annual Depreciation
- Sales of assets with the effect of profit & loss
2. Tracking & Reconciliation of Asset
- Generation of UNIQUE ID and associated with assets
- Barcode printing for assets
- Using excel import or manual entry for physical verification
3. Statutory Compliance
- Income Tax Act and Act 2013 on New Companies
- Creation of all related statutory reports like FAR
- Numerous Financial Years
- Revaluation of Assets
4. Capital Work In-progress
- Adding cost to assets
- Capitalization of Assets
- Put to Using Dates
5. Administration of Assets
- Expiry, Warranty, AMC and Leasing
- Useful Life Change Asset
- Depreciation Rates Manually
6. MIS Reports
- Report on Asset Purchase
- Register of Fixed Assets
- Tracking of all assets based on category, location, & User
- Under the IT Act and the Companies Act full chart of depreciation
- Assets Warranty and Expiry of Insurance
- Reports on Transfer and Disposal
- Report on Asset Selling
- Reports for Physical Verification
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Tally fixed assets module with Tally ERP 9 gives the best software assistance to manage, maintain, and record Fixed assets. Tally ERP 9 is that all-in-one accounting software package for your business. For any Tally on Cloud detail please visit Tallystack.in.
1. How can we view the fixed assets analysis report in Tally?
Tally Gateway – Audit & Compliance – Audit & Analysis – Other Analysis – Fixed Assets Analysis.
2. Reasons an organization certainly requires Tally ERP 9 Fixed Asset Register module.
For the following reasons, an organization certainly needs Tally ERP 9 Fixed Asset Register module:-
- Licensing of software
- Complete coverage
- Data integrity lacking
- Complete security
- Audit Trail
- Accurate calculation of depreciation
Usual Monitoring Asset:
- Machinery & Equipment
- Buildings and plants
- Fixtures and fittings
- Long-term investment