Openbravo is pleased to announce the availability of a new “Advanced Asset Management” module.
An asset is a long-term item held for business use . The companies are allowed to depreciated an asset within its economic life time which at the end means an allocation of its cost as a way of reflecting its progressive lost in value.
The advanced asset management pack for Openbravo 2.50 allows companies to benefit from the following capabilities (among others):
acquire assets and keep its corresponding “asset” and “inventory” information within the same asset card, including subsidy allocation if any
manage subsides and generate a “parallel” subsidies amortization
get a “to do” list of the purchased and/or sold assets which might require to be managed by the asset management team
manage assets making them part of an asset class to be depreciated based on the same depreciation rules and accounting information
book “asset” specific movements such as: appreciation, special depreciation, manual depreciation and storno depreciation
keep track of the current value of an asset, and therefore depreciated amounts
get a list of all the asset/s movements booked in the system
“Advanced Asset Management” is a commercial module available on Openbravo ERP from 2.50 MP22 by installing the “Advanced Asset Management Pack”:
Advanced asset management pack contains below modules:
Advanced asset management, which is the key asset management functionality.
Advanced asset management TODO list, which provides asset management team with a “to do” list of purchased and sold assets.
Advanced asset Special Documents, which allows the end-user to manually register and post asset specific movements such as: appreciation, manual depreciation, special depreciation and storno depreciation.
Reports for Advanced Assets Management, which helps the end-user to get a list of every “financial” and/or “asset specific” movements of an asset.
How to install it
Advanced asset management pack as well as the advanced asset management module can be installed from the Central Repository at the application path: “General Setup || Application || Module Management”.
How it works
The advanced asset management pack allows companies to acquire, manage and dispose assets.
Asset management team will be able to run the “Asset To Do List Updater” process and get a list of the “financial” purchase invoices containing assets accounts and the corresponding asset cards if any.
Once an asset has been created, the asset management team can run the depreciation plan of the asset from its asset card to be later on posted in the “Depreciation” window.
Finally an asset could also be disposed. The system will allow the financial people to book a “financial” sales invoice for the revenue of the asset sold.
Asset management team will run the “Asset To Do List Updater” process this time for the sales invoices. The system will “automatically” calculate the corresponding net book value of the asset.
Please be aware that this post is a brief summary about the “Advanced Asset Management” feature in Openbravo ERP. If you want to learn more about it, visit the project's home page, and specially the project's wiki where you will find the Functional and the Technical documentation of the project (English) and also the complete User Manual (English).