RAM'S Fixed Asset Software will help you to:
Accurately Report Asset Depreciation
Simplify Year-End Procedure
Reduce insurance premiums
Comply with Corporate
Efficiently audit assets by location
Satisfy all audit requirements
Features & Benefits
- Multi-company, multi-currency, and multi-lingual if required.
- Provides complete information on asset status, history, and location for audit trail purposes.
- A single input screen is provided for the fast addition and update of assets.
- Assets can be arranged in hierarchies, identifying parent/child relations and dependencies.
- Transaction types include full and partial disposals, transfers, enhancements, cost adjustments, relifes, revaluations and splits.
- Standard and user-definable depreciation methods can be applied by asset, asset group, and accounting period. Costs are retained for historical periods and automatically calculated for current and future periods as required.
- The audit file holds a history of all user actions, identifying which records were affected and the before/after detail.
- Electronic document management for the fast retrieval of associated files.
A single fixed asset register enables effective management of complex depreciation:
- Depreciation is automatically calculated for any period or range of periods across multiple books.
- User-definable analysis criteria by asset, asset group, cost center, or accounting period.
- Costs are retained for past period reporting and automatically generated for current and future periods as required.
- Unlimited number of standard and user-defined depreciation methods for full statutory compliance.
- Standard interfaces are provided to spreadsheet packages, property management systems such as MRI, and many of the leading Finance/ERP systems.
- On-premise and cloud-based (SaaS) subscription options ensure that the system fits your existing IT strategy.
When it comes to fixed asset management, RAM can help you to confidently meet the latest corporate governance regulations with accurate depreciation, component accounting, and excellent reporting.
- Assists in compliance with ever-changing requirements of IFRS, GAAP, Sarbanes-Oxley, and other SOX-type regulations.
- Comprehensive audit trail.
- Strong security.
- Helps organizations to meet and surpass audit regulations.
- Accurate data provides peace of mind.
Improve cost control by reducing insurance premiums, extending asset lives, and comparing supplier performance:
- Improve asset acquisition, usage, and disposal processes with one version of the truth.
- Avoid oversights by creating automated alerts for key events such as insurance renewal, warranty expiry, or replacement date.
- Minimize delay in the event of an insurance claim.
Exploit RAM's powerful fixed asset software to improve statutory compliance and accelerate year-end reporting:
- Suite of standard reports including obligations analysis, commitments analysis, and finance lease schedules.
- Create user-definable reports for any range of past, current, and future accounting periods, and include locations, type, supplier, and department.
- Restrict reports to display only those records with accrual dates within specified time periods.
- Ability to sort, sequence, and filter reports by any user-defined fields.
- Reports are viewable on screen, in PDF, printed or can be exported to MS Excel™ or other standard flat file formats.
- Create statutory year-end return as standard with year-end reports, breaking down the outstanding obligation by payments due next year, years 2–5, and years 5+.
Asset Management Product Overview
RAM’s fixed asset accounting system helps organizations maintain compliance with accounting guidelines and tax rules by enabling them to effectively control, track, and record each change that occurs during an asset's lifetime. The software encompasses depreciation processing and forecasting, lease accounting, capital expenditure control, and asset tracking/physical auditing.
Overcoming the Hurdles of Fixed Asset Management
Explore the challenges presented by fixed asset management and find out how to evaluate current processes and the solutions that specialist systems can offer.Download Now
Asset tracking and physical auditing
Comprehensive data-capture and asset tracking systems transform the speed, accuracy, and efficiency of the asset audit. By combining handheld devices with a central asset register, organizations can track asset location and status with minimal cost and resources, streamlining the asset tracking process and imposing control over the asset base.
Capital Construction-in-Progress Assets
Effective expenditure management demands complete control of cash flow, budgets, and projects from start to finish. Specialist capital project software ensures that both commitment and actual spend are recorded against budgets for both capital and expense projects. The solution also enables the building of Construction-in-Progress (CIP) assets.
Lease Asset Accounting
RAM’s lease accounting software improves lease management while assisting in compliance with the new FASB regulations taking effect in 2019. The software enables the reporting of finance and operating leases on the balance sheet—a key requirement of FAS 13 (ASC 842).
Depreciation Forecasting and Modelling
Accurate forecasting models underpin cost-effective and tax-efficient capital budgets. Real Asset Management's state of the art forecasting solution creates 'what if' scenarios for future capital expenditure, relifes, revaluations and asset disposals to create depreciation projections. RAM's depreciation modelling solution exploits the fixed asset data to accurately predict the effect of different capital expenditure and disposal programs, optimizing investment returns (ROIs).
- Forecasting directly mirrors the asset register to remove the need for complex spreadsheets.
- Use date range and future predictions to create a robust forecast and avoid risky guesswork.
- Planning can be for any range of accounting periods to reflect evolving business needs.
- Acquisitions, relifes, revaluations and disposals can be stated against groups of assets – no need to specify assets affected.
- Complete management reports and analyses for budget models.
- Rolling forecast options.
- Comprehensive export options.
Improved Asset Insight
Effective forecasting delivers immediate visibility of the impact of depreciation charges or events.
- Real-time analysis of forecasted and live budget variance.
- Supports both historical and indexed cost forecasting as well as forecasting by cost center.
- Provides complete, use-definable management reports and analyses for budget models.
- Built-in detailed scenario comparison reports.
Modelling provides insight into the effect on depreciation charges for events entered against both individual asset and categories of asset in the register.
- Budgeted depreciation forecast is automatically associated with the appropriate asset type.
- Reporting includes Budget/Live variance reporting and comparison reports.
Complete tax documents more quickly, easily, and accurately than ever before. Tax functionality provides finance professionals with up-to-date and accurate information on deductions available for depreciating assets. Combining one-step capital allowance calculations with the capacity to hold your tax years separate from your internal financial year structure, RAM's fixed asset software provides an easy-to-use tool for gathering information on qualifying assets.
- Leverages the records within the fixed asset register as a basis for tax relief calculation.
- Supports grouped assets to enable capital expenditure to be apportioned to incorporate any number of allowance rules.
- Automatically updates calculation in response to accounting events, such as transfers and disposals.
- Detailed reconciliation reports outline the effects of calculations under the various allowance rules.
- Calculates individual and pooled costs.
- Instant calculation of asset allowance costs.
- Produces fast and accurate ‘what if’ computations.
Automated tax calculation delivers significant cost savings for organizations that have traditionally used estimates or outsourced.
- One-off calculations can be undertaken for a specific project.
- Produces detailed reconciliation reports grouping figures by allowance rules.
- Stores allowance costs for past, current, and future years.
- Enables rapid tax planning through quick and accurate ‘what if’ forecasts.