Fixed Asset Management Solution for Papua New Guinea Government and other businesses.

Fixed assets management is a big challenge in Papua New Guinea, especially in the Government departments and its agencies. No proper asset registers are maintained and the state loses millions of  kinas worth of fixed assets from lands, buildings, machineries and other general fixed assets.

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Asset Life Cycle Management

With Kumulsoft fixed assets management system, no asset is left unattended. You are capable of managing assets from procurement to disposal, capturing the full fixed asset management life cycle process.

General Fixed Asset Management

Your nightmares in managing fixed assets is over now as you adapt to Kumulsoft FAMS as a solution to manage a single asset from procurement to disposal, through a system designed system capturing your business processes that free your mind from troubles and give you the confidence in managing million kinas worth of assets single handedly and report.
You can create multiple fixed asset registers such as: Office Equipment, Plant and Machinery, Furniture and Fittings, White Goods, Portable and Attractive assets, IT Assets, Artifacts and more. And not only that, you can create and classify assets by types and categories etc to group similar assets, like laptops, cameras etc for easy management.

 

Asset Administration Functions

  • Asset allocation – You can allocate assets to users, transfer assets between locations
  • Asset audit or inspection – Check on the condition of your asset and report on their status as good, poor, bad or recommended for disposal to be disposed of.
  • Disposal – During the inspection, if an asset is recommended for disposal, the asset is automatically transferred to disposal and wait to be disposed off. After the management recommends for disposal, you dispose the item and a copy is achieved for future audit reference purposes.
  • Depreciation – Depreciation is calculated on a straight line basis, by single asset or by asset type and categories.
  • Asset revaluation – You can increase or decrease asset values by percentages through the revaluation process.
  • Asset expenditure – You can capitalize major improvement or expense
  • Generate labels – Automatically generates asset labels according to formats you setup
  • Procurement register – Register the initial procurement process and follow until assets are procured and posted to respective registers.
  • Reports – Generate multiple asset reports from management reports, general asset, asset administration, property, land, setup and security reports.

 

Register information

  • Basic asset information – update asset acquisition date, asset numbering, types and categories, business units, location and barcode.

  • Purchase Information – update acquired date, cost, supplier, cheque number, purchase orders, general ledgers, budget sources, purchase references

  • Manufacturer information – manufacturer, brand, model, part number, serial number, asset parent number etc

  • Financial information – depreciation method, useful life, depreciation amount, residual value, book value, accumulated depreciation, depreciation date etc
  • Current status – Operational status, usage status, allocation, custodian, condition, financial status, label print status etc
  • File attachments – asset image and asset scanned PDF file upload.