Asset Management

Virtuo MIS Asset Management software fully automates the management of fixed assets (depreciable and non-depreciable; capital and non-capital) through the complete asset lifecycle -- from acquisition to disposal -- to reduce manual effort and increase efficiency.

Vendor Management

• Record all of the required information about each asset
• Add as many lines of expense detail to each asset as is required
• Easily make adjustments to any asset
• Add costs to the asset for the life of the asset
• Enjoy the total flexibility and automated accounting that only Virtuo MIS can provide

Fully automated, intuitive, table-driven accounting enables non-accounting staff to manage your assets, while the accounting and required journal entries are automated for each asset.

Tight integration with Virtuo MIS Materials Management saves time by eliminating duplicative effort and data entry and automatically populating your asset database as assets are received.

Asset Manager

Virtuo MIS Asset Management provides effective and efficient tools to automate fixed asset management through the complete asset lifecycle including acquisition, depreciation, and disposal.

Comprehensive program for depreciable and non-depreciable assets

Use the Asset Management module for minor equipment (equipment expensed in the year of purchase) and capital equipment. Information about an asset includes the vendor, purchase order, cost, physical location, associated assets, budget, project, and useful life of minor equipment assets.

Additionally, for depreciable assets, the information includes cost and depreciation start date to automatically calculate depreciation monthly. The system automatically generates a fixed asset continuity schedule.

Powerful integration with Virtuo MIS Materials Management

Asset Management is integrated with Virtuo MIS Materials Management. Receipt of goods designated as capital creates the asset in the Asset Management sub-ledger to facilitate sub-ledger completeness and accuracy.

Information from the purchase order automatically flows to the capital asset system and is then used to determine the useful life of the asset and to calculate depreciation.

Flexible setup

Depreciation can be recorded centrally or allocated to the department where the asset is located. Historic assets can be entered over multiple periods prior to the initialization of the system. To meet specific reporting needs, assets can be grouped, subgrouped, and associated with a budget or a project.

Comprehensive reports

A variety of easy-to-use pre-built reports are available to provide asset information by site, location, cost center, or asset group.

Asset Entry

• Record as much information about each asset as you wish, including vendor, purchase order, cost, physical location, associated assets, budget, project, and useful life
• Use cost and depreciation start date to automatically calculate depreciation monthly
• Future date the depreciation start date when recording an asset received but not to be in operation until a later date
• Automatically generate a continuity schedule for fixed assets
• Record depreciation centrally or allocate it to the department where the asset is located
• Enter historic assets over multiple periods prior to initialization of the system
• Group and subgroup assets to meet specific reporting needs
• Associate assets with a budget or a project to facilitate specific reporting needs

Reporting

• Easily generate a variety of pre-built reports with asset information by site, location, cost center, or asset group
• Be informed in advance of the cost of replacing assets close to retirement by factoring an inflation rate to better plan and budget for capital purchases for upcoming years
• Quickly view detailed or summary information of asset accounts, accumulated deprecations accounts, and net book value of assets for a specified or range of periods