Fixed assets are defined as any 'permanent' object that a business uses internally including but not limited to computers, tools, software, or office equipment. While employees may utilize a specific tool or tools, the asset ultimately belongs to the company and must be returned. And therefore without an accurate method of keeping track of these assets it would be very easy for a company to lose control over them. With advancements in technology, asset tracking software is now available that will help any size of business track valuable assets such as equipment supplies and current user location etc.. Asset tracking software allows companies to track what assets it owns, where each is located, who has it, when it was checked out, when it is due for return, when it is scheduled for maintenance, and the cost and depreciation of each asset.
The reporting features that is built into iBusiness suite provides pre-built reports, including assets by category and department, check-in/check-out, net book value of assets, assets past due, audit history, and transactions.
All of this information is captured as the part of the ERP. As a result, the company can reduce expenses through loss prevention and improved equipment maintenance. This reduces new and unnecessary equipment purchase and can more accurately be calculated taxes based on depreciation schedules.
Efficient asset transfer and control is a unique feature of iBusinesss suites. it's powered with work flow from request to material acceptance. It allows to transfer as a part or whole the asset coding,numbering and depreciation management are powerful features of iBusiness suite.