Compass Assets Management

Compass Assets Management comprehensively manages all assets operations from definitions, depreciations, leasing, transfers, additions, eliminations, monitoring, to following-up on assets. It also integrates a PDA software that allows assets stocktaking through barcodes on assets distributed in the organizations. The system covers the following aspects:

·         Fixed Assets Records

o   General: Auto generation of assets codes & Barcode, multi-levels of classifications, location & Custodian, Supervisor, Purchasing, Rental, Manufacturing, Insurance, and Maintenance Information.

o   Financial: Original cost, additions & disposals, life spam, and initial depreciation.

·         Fixed Assets Processes

o   Printing Barcode stickers

o   Additions on assets

o   Disposals on assets

o   Asset Sales

o   Asset Eliminations

o   Asset Movements

o   Physical count using hand-held

o   Auto JE Generation with ability to generate  JE batches to link with third party systems

·         Fixed Assets Depreciation

o   Depreciation Method: Straight-line, declining balance, sum of years’ digits, direct, none.

o   Definition of financial period: Years, Months, Quarters…

o   Starting Date of Depreciation: according to acquire date, beginning of current period, beginning of next period, or relevant to mid of the month

o   Unlimited options for re-calculating depreciation before posting.

·         Reports