Best Fixed Asset Accounting Software in 2017

MProfit

Portfolio Management And Accounting Software
Mprofit is one of the best portfolio management and accounting management software for investors, traders, advisiors, corporates, family offices and CAs to manage your stocks, MFs & other assets.
Installed
Onetime
Download Brochure
Customisation
Mobile
Saas
Web Based
Web Based and
Installed
Api
Both (SAAS & One time)

A comprehensive accounting software
Tally.ERP 9 is a end to end software for fixed asset accounting. It can efficiently do fixed asset accounting of any organisation. 
import_contacts
Installed
Onetime
Download Brochure
Customisation
Mobile
Saas
Web Based
Web Based and
Installed
Api
Both (SAAS & One time)

MARG ERP 9+ Inventory & Accounting Software

500+Centers for Training & Support, 6 Lakh+ Users
MARG is amazingly simple and fastest Inventory and Accounting Software for small businesses and it handle multiple customers by allowing to hold current invoice. It is economical and one of the most popular ERP software. It's an complete solution from Purchase planning to Balance Sheet.
import_contacts
Installed
Onetime
Download Brochure
Customisation
Mobile
Saas
Web Based
Web Based and
Installed
Api
Both (SAAS & One time)

Busy Accounting Software

The Complete Business Management Software for SMEs
BUSY is the complete accounting software for small and medium businesses. It has been allowing SMEs across geographies, industry verticals and customer division such as FMCG, Retail, Trading, Manufacturing, Distribution and Service by helping them manage their business efficiently.
import_contacts
Installed
Onetime
Download Brochure
Customisation
Mobile
Saas
Web Based
Web Based and
Installed
Api
Both (SAAS & One time)

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ProfitBooks

The next generation Online Accounting Software
ProfitBooks is a simple and fastest business accounting software for small businesses. It lets you create beautiful invoices, track expenses and manage inventory without any accounting background.
import_contacts
Installed
Onetime
Download Brochure
Customisation
Mobile
Saas
Web Based
Web Based and
Installed
Api
Both (SAAS & One time)

Billing, Accounts and Inventory Management
HDPOS is the best accounting software. It has ease of use and nice interface. It is a Windows based Billing, Inventory Management and Accounting Software and it easly Install on single computer or multiple Terminals.
Installed
Onetime
Download Brochure
Customisation
Mobile
Saas
Web Based
Web Based and
Installed
Api
Both (SAAS & One time)

QuickASSET

Fixed Asset Management Software (Desktop/Webbased)
QuickASSET is simple, easy and effective (Desktop / Web Based) fixed asset register software. It simplifies Fixed Asset Management and make the process very easy. 
import_contacts
Installed
Onetime
Download Brochure
Customisation
Mobile
Saas
Web Based
Web Based and
Installed
Api
Both (SAAS & One time)

EAMbrace Asset Management

Globally recognized enterprise asset management.
EAMbrace is designed to help organizations of all size better manage its assets spread across various locations. It acts as a perfect fixed asset register software. 
import_contacts
Installed
Onetime
Download Brochure
Customisation
Mobile
Saas
Web Based
Web Based and
Installed
Api
Both (SAAS & One time)

Acme Insight For Retailer

Billing, accounting and inventory software.
ACME Insight is a comprehensive software, specifically made for pharmaceutical retailers, by considering all the complexities of the business. It has helps medicine retailer to increase profits and makes less losses by having tight control on the medicine stock of available in a shop.
import_contacts
Installed
Onetime
Download Brochure
Customisation
Mobile
Saas
Web Based
Web Based and
Installed
Api
Both (SAAS & One time)

FACT ERP.NG

FACT ERP.NG - the Next Generation ERP Software
FACT ERP.NG provides the tools to empower your business, from supply chain, procurement, manufacturing,  Inventory Warehouse Management, Fixed Asset Management, to financials, business intelligence and reporting.
Installed
Onetime
Download Brochure
Customisation
Mobile
Saas
Web Based
Web Based and
Installed
Api
Both (SAAS & One time)

RetailGraph

For Retail Stores & Chains
RetailGraph is a complete Retail Store Management Software that offers small and mid market retailers a complete point-of-sale solution that can be adapted to meet unique requirements. Simple & easy to use that even a novice can work on it.
import_contacts
Installed
Onetime
Download Brochure
Customisation
Mobile
Saas
Web Based
Web Based and
Installed
Api
Both (SAAS & One time)

Asset Expert

Web Based Fixed Asset Accounting Software
AssetExpert is a Fixed asset accounting software designed to Track & Manage Fixed Assets. It will help you in eliminate drudgery and cost of maintaining Fixed Assets. AssetExpert will help you in ensuring that all assets are properly insured, are under AMC.
import_contacts
Installed
Onetime
Download Brochure
Customisation
Mobile
Saas
Web Based
Web Based and
Installed
Api
Both (SAAS & One time)

Acme Insight For Distributors

Billing, accounting and inventory software.
Acme’s Insight software suite is a unique combination that handles suppliers, representatives, business staff, government authorities needs, tax practitioner and above all pool of retailers or wholesalers. Acme’s Insight can send personal greeting messages for an entire medical retail database. e.g. Happy Birthday, Happy Wedding Anniversary, etc.
import_contacts
Installed
Onetime
Download Brochure
Customisation
Mobile
Saas
Web Based
Web Based and
Installed
Api
Both (SAAS & One time)

FAMS

Maintain Fixed Assets Register
FAMS is the complete software that helps you maintain records of fixed assets. Complete details of each asset including cost, useful life, user, location, department, cost centre etc. can be maintained.
import_contacts
Installed
Onetime
Download Brochure
Customisation
Mobile
Saas
Web Based
Web Based and
Installed
Api
Both (SAAS & One time)

Tracet

On-Cloud & Mobile-ready Asset Management Software
Track, manage and comply enterprise assets across group companies, or each company’s locations/units, sub locations, branches, or internal partitions with web based, mobile and cloud ready Tracet.
Installed
Onetime
Download Brochure
Customisation
Mobile
Saas
Web Based
Web Based and
Installed
Api
Both (SAAS & One time)

Page Last Updated On 14/12/2017 06:37



What is Fixed Asset Accounting Software?

Fixed assets are tangible/intangible non-current assets, procured for increasing overall productivity of an organization. Many organizations use Fixed Assets Register Software also known as Fixed Assets Management Software to manage their fixed assets. It is available as both: standardized and tailor-made and helps an organization in keeping complete track of their fixed assets’ in date, outward date (in case of assets sent for repairs), place, asset categorization, applicable depreciation as per the laws of the land, warranty period, repairs & maintenance schedule etc.

Key features of Fixed Asset Accounting Software

  1.  Accounting entries & posting as per the applicable accounting standards.
  2. Automatic numbering based on group, date, etc. & preparation of labels, bar-codes and asset identification numbers.
  3. Reduced manual interference smooths the overall process and reduces chances of errors.
  4. Tracking the physical place of all movable and immovable assets by assigning GPS based chip recognition system & similar technologies, useful especially for organizations whose major block of assets consist of movable assets.
  5. Classification of assets by - a. Category b. Location c. Ownership d. Depreciation Category (as per taxation laws) e. Custom (as per need)
  6. Automatic alerts & notifications to the concerned department about repairs & maintenance schedules
  7. Regular updates ensure compliance with latest amendments in the laws.

Benefits of Fixed Asset Accounting Software

  1. Easy to use: Fixed asset software has built-in audit trail capabilities, facilitates quick recording of asset movement and usually integrates directly with other accounting systems.
  2. Saves Time in Preparing Reports: Easily access asset records, or information you need with user-friendly reports. This provides solutions which allow you to create customized reports and save even more time and makes managing your data even easier.
  3. Automate Depreciation Calculations: Manually created excel workbooks are highly error prone and stagnant. The best fixed asset software solutions will update automatically as and when laws amend; they reduce human data entry and they are proven to provide exact calculations.
  4. Tax compliance: Compliance with tax laws is one of the main features of fixed asset register software, which not only ensures timely compliance with all regulations but also facilitates taking full advantage of all potential tax holidays & breaks.

Potential Issues:

  1. Loss of data: Although many software automatically backs up the database regularly, but is still prone to data loss, leakage & misuse.
  2. Lack of customization features: Although many organizations are using such software, but no industry is satisfied with the customization options that are currently available.

Open Source Fixed Asset Accounting Software

For simplification, let us take an example. Apple is the only company that manufactures devices solely based on iOS (the OS for iPhones, iPads, iPods, etc.) however, companies which manufacture devices which function on Google’s Android OS such as Samsung, Sony, HTC, etc. use the open source Android platform licensed by Google but with minor tweaks of their own. Android by Google is an open source OS.

Similarly, open source fixed asset register software provides tailor-made solutions as per the needs of the particular organization. Say, if I own a trucking company than most of my fixed assets shall be trucks and lorries which are continually moving. Nowadays many software facilitates the feature of tracking their movable assets, but what if I want a separate identification number for each of my truck. In such a case I would prefer a system that provides me feature of continuous updates about the place and condition of my every single truck or lorry.

Fixed Asset Accounting Software Research Guide

Important factors which play an important role in selection of the right Fixed Assets Accounting software are:

  1. Size of the organization: Size of an organization is one of the most important factors in deciding the most suitable system for your company. Say needs of a multinational corporation will be very different & diverse as compared to the needs of a small-scale industry. And so a single software isn’t going to serve the purpose of all the organization sizes.
  2. Integration with ERP systems: Integration of fixed asset accounting software with that of existing company’s ERP or standardized accounting software is a must as many calculations such as depreciation, gain or loss on account of disposal/exchange of assets, installment amounts of assets procured on hire purchase, etc. are to be recorded & posted appropriately in the books of accounts. These calculations require a high level of accuracy and direct integration is a must, as to avoid any mistakes caused due to manual interference in the process.
  3. Collaboration and interaction between departments: Many organizations have multiple operations and have divisions in different countries. Such organizations sometimes temporarily transfer assets from one department to another and hence features such as Collaboration and interaction between departments is a must.
  4.  Repairs & Maintenance Scheduling: Many top management personnel have complained that they are unaware of the physical condition of their assets and many a times they lapse their repairs schedule, hence leading to unnecessary capital expenditure on their major repairs or replacement. Also, sometimes assets whose useful life is not much, but still considerable amount is spent on their repairs. An ideal system will automatically send an alert about repairs & maintenance of assets on or before the due date, hence enabling them to take suitable action.
  5. Tracking of assets: Tracking of assets lets you know in which part of the factory your asset is located and its physical condition. This feature is very useful and a decision driving factor for organizations whose major chunk of assets are usually moving such as transport companies, shipping companies, etc.
  6. 24x7 assistance & live support: 24x7 assistance, live support & updates are pivotal since continuous amendments in the laws about accounting require continual compliance. Obviously, no one wants a software that doesn’t alert you about any non-compliance in your system.
  7. Easy Report Generation: Every enterprise nowadays track the progress of their organization on a periodical basis. In such a scenario system, this software helps you generate reports about the purchase, sale, due date of installments, fair valuation of assets, repair, maintenance schedules & costs, depreciation, useful life, production capacity, etc., as and when you require.

Conclusion :

Such fixed assets accounting software have proven to be useful to the organizations in managing their assets in a more systematic and simplified way however, one should always be wary while completely depending on such systems. Trained accountancy staff, periodical backups & prompt customer service are the key to successful implementation of this software.