General Information for Fixed Asset

Wavelet Management Suite has yet to provide its user a full blown Fixed Asset Module, however, the following steps are recommended as work around for users to make use of the system to manage their fixed assets.
The following fixed asset module could be run on a separate server, it could also be run in the same server , there are pros and cons. Running in the same server means the product master / merchandise stocks are mixed with the fixed assets. Separating it is cleaner, to separate the operational data from the non-operational data. Separating the two will requires additional server, hence additional cost.

Acquiring Fixed Asset

First of all, we will set up the fixed asset like how we set up the inventory item master. The fixed asset could be serialized (unique number is assigned to each item with the different serial number).

The normal Goods Received Note could be used to enter the stock into the system, where suppliers are recorded, date of purchase is recorded etc.

If we have multiple VIRTUAL locations, we could transfer the fixed asset from one location to another location (or department / floor etc).

Disposal of Fixed Assets

Disposal of fixed asset is pretty much the same as performing stock adjustment or invoicing the fixed asset out

Yearly Depreciation

User can generate various kind of fixed asset reports, making use of the stock take functions, or stock balance reports, stock purchase reports etc in the system, the same way they manage the inventory.
The ageing period of the following stock balance report could be useful for yearly depreciation calculations. The ageing period can be configured to be year by year, etc.