Makeen Fixed Assets Management.
Manage your fixed assets.
What is Makeen Fixed Assets Management?
Makeen Fixed Assets Management streamlines financial reporting, enhancing timeliness and precision through the automation of fixed-asset depreciation. It also facilitates the creation of a thorough inventory of current assets, complete with crucial information such as acquisition cost, in-service date, estimated useful life, and additional details. With Makeen Fixed Assets Management, you can effortlessly oversee the entire lifespan of an asset, from its procurement to its retirement, without the need for spreadsheets or laborious manual procedures.
Enhanced Productivity
Optimize efficiency by removing the need for spreadsheets, manual labor, and redundant data input. Makeen Fixed Assets Management streamlines depreciation calculations, leading to reduced errors and an expedited closing process.
Fixed Assets and more
Out-of-date information can result in an overestimation of the value of fixed assets and excessive expenditures on insurance. Effective Fixed Assets Management simplifies the process of keeping up-to-date and precise records of both depreciating and nondepreciating assets.
Makeen Fixed Assets Management Features
Makeen Fixed Assets Management encompasses the complete lifespan of assets, starting from their acquisition to their eventual disposal. This system aids companies in keeping their records current, ensuring precise recording of depreciation information. Makeen Fixed Assets Management operates smoothly alongside Makeen Procurement and Advanced Financial Management to automate the process of generating new assets and recording depreciation.
Asset Tracking
Optimize asset management processes for effective tracking, ensuring precise categorization of both depreciable and non-depreciable fixed assets. Keep thorough records spanning the entire lifespan of each asset. Allocate and monitor assets based on geographical location, facility, department, or other relevant reporting criteria. Facilitate seamless asset transfers between subsidiaries or business units, preserving comprehensive historical data without the need for manual data re-entry.
Depreciation
Makeen Fixed Assets Management provides the capability to automatically determine depreciation expenses using predefined or user-defined methods and schedules. This system allows financial teams the flexibility to decide when and how to allocate depreciation expenses. For instance, with usage-based methods, such as the one offered by Makeen.
Reporting
Create precise financial reports that adhere to accounting standards, and generate standardized fixed-asset documentation.
Asset Tracking
Optimize asset management processes for effective tracking, ensuring precise categorization of both depreciable and non-depreciable fixed assets. Keep thorough records spanning the entire lifespan of each asset. Allocate and monitor assets based on geographical location, facility, department, or other relevant reporting criteria. Facilitate seamless asset transfers between subsidiaries or business units, preserving comprehensive historical data without the need for manual data re-entry.
Depreciation
Makeen Fixed Assets Management provides the capability to automatically determine depreciation expenses using predefined or user-defined methods and schedules. This system allows financial teams the flexibility to decide when and how to allocate depreciation expenses. For instance, with usage-based methods, such as the one offered by Makeen.