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Integrated Fixed Asset Management Solution

iplicit’s simple, intuitive fixed asset management software eliminates the need to track and manage your assets in separate software or spreadsheets. At a glance you can see all the key information about your assets and the related transactions, manage asset records and understand costs and depreciations.

That means an enormous time saving – and makes life easier when it comes to period end and audit.

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Fixed asset management functionality

Create a fixed asset register

Save time and trouble by importing into iplicit assets from an existing spreadsheet, or create records from purchase invoices, cashbook entries or journal postings.

Put assets in
hierarchies

Save time finding out who has that laptop or mobile phone – or looking for its invoice or warranty. iplicit keeps relevant information and documents together, including items such as photos and instruction manuals. 

Record asset management workflows

Queries from inside the organisation or from auditors are easier to handle with iplicit’s workflow features. You can immediately see who created an asset record, approved the capitalisation, changed the net value or disposed of the item. 

Track the movement and disposal of fixed assets

Simplify the processes involved when selling an asset or writing it off. iplicit can adjust the records and re-calculate the item's net book value, as well as tracking the movement of assets between parts of a group.

Capitalise a fixed asset and automatically apply depreciation

There is no need to consult a spreadsheet and manually apply depreciation to your assets. iplicit calculates depreciation by whatever method you choose (e.g. straight line, reducing balance/double depreciation) and applies it automatically at the frequency you need.

Simplify fixed asset management reporting

With iplicit, you can see the value of all your organisation’s assets at the touch of a button. You can easily “slice and dice” data about your assets and their value, allowing you to enquire, analyse and report in a host of different ways. That gives you better information as well as saving time and resources.

Track information and documents for fixed asset management

You don’t need to manually group together assets of similar kinds, acquired at different times and depreciating to different schedules. iplicit lets you create parent groups (e.g. “laptops” or “furniture, fixtures and fittings”) and assign sub-assets beneath them.

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Fixed asset management FAQs

How do I set up a fixed asset register in iplicit and how long does it take?

You can import assets into iplicit from a spreadsheet, or add them from purchase invoices, cashbook entries or journal postings. 
iplicit’s fixed assets module is designed for rapid implementation, so you should have a working system in around half an hour.

How do I capitalise an asset in iplicit?

You can tell iplicit to capitalise an asset the moment you enter a purchase invoice – or to automatically capitalise any asset of more than a certain value. 
The software then applies rules that have already been set up and automatically populates the depreciation book.

Can I group fixed assets together?

Yes. iplicit allows you to create hierarchies, with parent assets under headings like “laptops” or “furniture, fixtures and fittings”, plus individual sub-assets that have been bought at different times and are depreciating to different schedules.

How does iplicit apply the different methods of depreciation?

Just enter the expected value of an asset at a future date and iplicit can apply depreciation by any of the main methods:

  • straight line;
  • reducing balance/double declining;
  • units of production;
  • sum of years digits;
  • or by any other rule you set up.

iplicit then deducts the right sum from the value at the interval you request – whether quarterly, monthly, half-yearly, daily or at any rate you choose.
You can add extraordinary depreciation, revalue an asset or move assets from one entity in a group to another. The system also accommodates assets that don’t depreciate. 

How flexible is iplicit's asset management module?

Very. The software includes simple out-of-the-box solutions but enables the user to adapt the system to their processes as required.

Can iplicit handle disposal of fixed assets?

Yes. Whether an asset is sold, written off, or transferred to another part of a group, iplicit keeps track of it.

Can iplicit track invoices and other documents for fixed asset management?

Yes. iplicit does away with the need to record invoice numbers and other information on spreadsheets. You can keep invoices, warranties, manuals, photos, and any other information you like in the system alongside the asset.

How do I report on fixed assets in iplicit?

iplicit has a powerful suite of reporting, enquiry and dashboard tools so you can slice and dice data about your fixed assets as you please. You can see the value of your assets at the touch of a button and can drill down to individual asset level if you wish. It makes for a more complete picture of your finances and informs better decisions.

Can iplicit record fixed asset management workflows?

Yes. You can see who approved the capitalisation of a fixed asset or signed off changes such as movement of an asset, a revaluation, its disposal, or an extension of an asset’s useful life. It’s all recorded along with the relevant documents.

Can iplicit handle other currencies?

Yes. If an asset was bought from abroad, iplicit automatically states its value in the base currency of your organisation.

How can iplicit help with an audit?

With iplicit, there will be no more hunting for information in response to auditors’ queries. The system will instantly retrieve invoices and other records – and will keep track of where assets are. All this will save you time and stress when audits come round.

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