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FMIS Asset Management

Name: FMIS Asset Management
Rating: 4.5 (2 reviews)

By FMIS

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Highlights : About FMIS Asset Management

Asset lifecycle management

Purchase order processing

Fixed asset accounting

About FMIS Asset Management

FMIS Asset Management is a fixed asset management system, covering fixed asset management, tracking, and depreciation, barcoding, equipment and maintenance management, capital projects, lease accounting, and more. The system is compliant with multiple standards, including IFRS, SORP, IAS, Sarbanes-Oxley, and UK/US GAAP. FMIS Asset Management enables users to track and audit fixed assets, across multiple companies, countries, and currencies. Multiple books can be set up for group, management, local, state, federal, and tax purposes, and both standard and modifiable depreciation calculation methods can be used, including reducing balance, straight line, double declining balance, AMT (alternative minimum tax), and MACRS (modified accelerated cost recovery system). Full histories of adjustments, revaluations, full and partial transfers and disposals, status changes, and other events are created, allowing users to track all asset events. Equipment and maintenance can also be managed with FMIS, with users able to track statuses and locations for all inventory and assets, schedule and record all maintenance, whether preventative or on demand, analyze cost of ownership, and more. Data fields can be configured by users based on asset type, and workflows can be customized. Users can schedule preventative maintenance based on dates, meter, or both, and maintenance reminders and work orders are automatically generated. The full asset lifecycle, from creation to replacement, through warranties, maintenance and repairs, loans, assignments, transfers, and audits, can be managed using FMIS Asset Management.

Specifications

24/7 Support

Yes

Business Size

Mid-Market

Deployments

Cloud

Language Support

English

Platforms

Product Details

Features

User-defined customizable fields

Lease accounting

Hierarchical asset structures

Fleet management

User-defined accounting periods

Alerts and reminders

Customizable workflows

Fixed asset accounting

Purchase order processing

Real-time updates

Asset lifecycle management

Maintenance scheduling

Multiple depreciation methods

Benefits

Compliance with SORP, IFRS, Sarbanes-Oxley (SOX), US/UK GAAP, and IAS can all be managed through FMIS.

Both modifiable and standard depreciation methods can be used.

Equipment can be tracked through its full lifecycle, from purchase, through warranty, maintenance, repairs, assignment, loan, transfer, and return to vendor.

Users can manually load leases into the system, or they can be imported in bulk, as can adjustments, updates, or coding changes.

Invoices can be entered manually or imported automatically from accounts payable systems.

Project managers can divide overall budgets into categories or expenditure levels for each capital project, with subsequent transactions coded to the same structure.

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