Fixed Assets Accounting

Dwadashangi Advisory LLP was established in the year of 2021 at Ahmedabad (Gujarat) location. Dwadashangi Advisory LLP is one of the leading service provider of a premium range of consultants of accountancy services, finance services, taxation, tax advisory, tax compliances, other legal compliances related services, outsourcing services, computer and IT related services, management and marketing related services, HR management services and many more. Internal Audit with Cost Benefit Analysis We have Experts from all Section with Vast Experience. Smoothing Day to Day Operation of Business resulting Focused Business rather Involving in Complexity. We Are Deals In Entire Gujarat India.

Fixed Assets Audit Service involves the thorough examination and verification of an organization s fixed assets, such as buildings, machinery, equipment, and vehicles, to ensure accuracy and compliance with accounting standards. The service includes reviewing asset records, confirming physical existence, evaluating depreciation, and assessing internal controls. This audit helps identify discrepancies, prevent fraud, and ensure proper asset management, providing valuable insights for financial reporting and decision-making.

Fixed Asset Registration Services involve the systematic tracking, cataloging, and management of an organization's physical assets. This service ensures that each asset such as machinery, equipment, vehicles, or real estate is properly identified, documented, and classified for accounting, tax, and operational purposes. The process typically includes assigning unique identification codes, recording asset details (e.g., purchase date, value, location), and maintaining an up-to-date register of all assets.

Our fixed assets accounting service ensures proper tracking and management of long-term assets. We maintain detailed records of depreciation, asset valuation, and asset retirement, ensuring compliance with relevant standards.

Fixed asset accounting is the process of recording, tracking, and managing a company s long-term physical assets property, plant, and equipment (PP E) throughout their lifecycle, from acquisition to disposal. Unlike inventory, these assets are not intended for sale, but are used to generate revenue over multiple accounting periods.

With our vast experience knowledge in this field, we are engaged in providing a quality-assured range of Fixed Assets Accounting Service.

Pay Roll, Fixed Asset Register, Financial Statements from incomplete records, accounts and financial statements

Spine Assets Manager Asset Acquisition to Asset Disposal Write Off.Useful life additional shift based Depreciation Calculation.Captures comprehensive information including scan document attachments like Purchase Order, Tax Invoice, Delivery Challan, etc.Asset Relocation, Asset Group Transfer CWIP.FA Schedule FA Register as per Income Tax Act, Company Act MNC Act.Tracking of AMC, Warranty, Insurance Service due.Flexible Report Writer tool for user defined reportBudget tracking Asset Group wise, Location wise, Cost Center wise Custodian wise.Integration with Accounting software for Depreciation, Profit Loss JV.Barcode Label or Physical Label generation with tracking of Physical Verification.

We offer end to end solution for satisfying all fixed asset accounting needs such as Physical verification of fixed asset, Asset classification based on location/ branch/ Asset user/Category/Cost center/Department etc. Allotment of code for each fixed assets, Maintenance of Fixed Asset register.

Acquisition and disposal of Fixed Asset through financial and material interface. Fixed asset at installation and sub-installation. User defined categories. Depreciation rates as per the Companies Act and Income Tax. Insurance policy and annual maintenance contracts.

The secret to a successful implementation of an asset management Solution is in the planning and designing of the project. We have experience, methodologies and well trained fxed assets consultants, who will ensure that an asset inventory progresses effectively.

Tag, count and value all fixed assets Perform periodic fixed assets audit Identify and recommend measures to improve controls and processes

Fixed asset accounting is one of the finance department s most human and document intensive processes. Automation of fixed asset accounting helps organizations significantly reduce costs and accelerate accounting and reporting process. Management and reconciliations of fixed asset database is resource-intensive and requires thorough understanding and evaluation of asset records. We take care of all your asset records and inventory through professional fixed asset accounting services. Outsourcing fixed asset accounting to us ensures proper implementation of bar codes relating to the type of fixed asset.

Normally every company physically verifies his fixed assts and stock in trade once in a year through an independent agency. We have an experience of more than 25 years for conducting such type of audits for big companies.

1. Preparation of FA Register as required under the Companies (Auditors Report) Order, 2003 by using a standard format showing all necessary details as required. 2. Calculation of actual cost of an asset. 3. Calculation of depreciation as per Schedule IV of the Companies Act, 1956.

We offer our clients Valuers services that include valuation of fixed assets. These Fixed Assets Valuers Services include valuation of property, Immovable assets or any kind of tangible assets. These assets play a long-term role in earning profit in a business. Valuation of plant machinery, furniture, tools, land, buildings and real estate is done as per these services. Our Fixed Assets Valuers Services are based on proper research, paper work and are professionally communicated. The accurate estimation helps our clients in managing their profits and finances. As per the direction of Reserve bank of India, valuation of properties and appointment of valuers for the purpose varied from bank to bank. The collateral accepted against a given asset for a sizable portion of the advances portfolio is important for the correct measurement of capital adequacy position of banks.

Fixed Asset management is a systematic accounting process of deploying, operating, maintaining, upgrading, and disposing of assets cost-effectively. It seeks to track fixed assets for the purposes of financial accounting, preventive maintenance, and theft deterrence. Help (Serial Number tags) to track the location, quantity, condition, maintenance and depreciation status of their fixed assets

In India, it is necessary for Companies to maintain Fixed Asset Register containing certain mandatory information. Often, Companies which are multi-location and working on legacy work platforms have the need to incorporate this Register into the new ERP platform to which they migrate. The challenge then is to ensure reconciliation with the Books of Accounts, supported by tagging of all Fixed Assets and its proper recording.

We have a very unique feature which is been furnished to the user only by us till now. This feature will help the user in sheer appraising of its fixed assets likewise furniture, machines and many more like them. We needed to highlight this feature in the heading as well so we have to create an image which will pageant the user about their appraised fixed asset in a single table which is supposed to vary annually according to the depreciation in the balance sheet. Connoting, the same tables was of 5000 in the 2018-19 financial yearbook, but in 2019.-20 the same table will be of 4000 with 20% depreciation in the balance sheet.

The Fixed Assets Depreciation tracking and management couples with FAS and IMS modules and reports location of each asset, its custodian and warranties obtained from the supplier. It computes depreciation for accounting. Two methods built-in use sinking fund and straight line method (in India these are recommended by statutory authorities Income Tax and Registrar of Companies). FAD can show the value of assets based on WDV or after revaluation. Upon disposing off assets or revaluing assets, the corresponding financial entries can be generated by FAD. Core Benefits Fixed Assets Depreciation tracking system works together with Inventory Management and Financial Accounting SystemsSupport for depreciation calculations by both Income Tax and ROC standardsWDV, assets merged/demerged (upgraded or downgraded) reportingFacility for rollback for change in original value of assets and easy recalculationsRevaluing of Assets and generating transactionsHistory Management reporting of assetsWrite-off facility for Assets based on parameters of asset s valueRollback facility up to three years transaction

All the business organizations acquire lots of assets and required to maintain Fixed Asset Register as per Companies Act as well as Income Tax Act. Moreover Depreciation calculation is another tedious cumbersome procedure under both the Acts during finalization of Accounts. HBS Solutions presents Fixed Asset Module to efficiently handle all the issues pertaining to assets acquisition/disposal or depreciation.

Fixed asset accounting is one of the Finance Department s most human and document intensive processes. Automation of Fixed Asset Accounting helps organizations significantly reduce costs and accelerate accounting and reporting process. Datamatics offers a comprehensive technology solution for Fixed Asset Accounting that includes recording, coding, classification, depreciation calculation, physical verification, tabulation and management of individual assets. Datamatics platform-based suite of services is compliant with international as well as local GAAP requirements, and can be easily aligned to local Corporate and Income Tax laws. Complementary services include asset transfers and tax entries on the sale of assets.

Depreciation solution service by EAMbrace covers all statutory aspects of depreciation calculation in finer details. Depreciation calculation as per New Companies act, 2013, as per Income Tax 1961 along with depreciation methods like SLM, WDV are covered in complete details. Apart from statutory depreciation books, organization can create additional user defined books for depreciation as per parent company requirements if required. Multi-shift depreciation is also handled accurately in depreciation solution of EAMbrace.

Assistance in preparation of fixed assets register Physical verification of fixed assets

Fixed Asset Accounting Services

Fixed assets register Depreciation computation Physical verification of fixed assets

Physical Verification of Fixed Assets Tagging of Fixed Assets Creation of Fixed Assets Register

Established as a Proprietor firm in the year 2016, we E Pencil Solution Private Limited are a leading Service Provider of a wide range of Digital Software, Digital Certificate, Tax Service.