Asset Register Module

Our asset register functions to track non-current assets, also known as fixed assets, item by item within a detailed system in order to keep tabs on each asset's whereabouts and book value. As soon as an asset is acquired, it is inputted into the register with comprehensive details of its original cost, including taxes, installation, and freight charges. The asset register also includes an identification number, such as a barcode or tag number, to ensure effortless tracking and inventory counting. Additionally, residual value and depreciation rates are recorded for each individual item. As a result, the register organizes assets into classes and corresponds with presenting these classes in the balance sheet. Furthermore, the asset register interfaces with the general ledger to incorporate daily depreciation charge automatically into the accounts.