Ramco Financials include sophisticated Fixed Assets tracking to monitor the enterprise’s capital purchases through capital budgets. All facets of asset management are addressed ranging from expense capitalization, calculation of insurance premiums, calculation of depreciation expenses, revaluation of assets, tracking of asset transfers, and asset retirement.

Assets are defined into a series of classes based on accounting requirements of different regions. Inventory cycles are assigned to classes as well as a determination of depreciation rules. Assets can also be assigned to groups for IT/MIS purposes and can be aligned into multi-level hierarchies.

Asset locations are also hierarchical and can have an unlimited number of levels to ensure items do not get lost. Locations can include outside locales including customer and contractor sites.

In addition, Fixed Assets include sophisticated rules for calculating depreciation with different combinations of rates, methods, basis, limits, and conventions. Fixed Assets includes a planning capability to forecast budget requirements for capital expenditures.

Completely integrated with the General Ledger, Fixed Assets creates all automatic entries required over the asset life cycle. In addition, Fixed Assets has asset insurance, asset capitalization, asset inventory, asset migration, asset revaluation, and asset disposal capabilities.