Asset maintenance is carried out either through a specific EAM application or as a module included into enterprise resource planning (ERP) software. The Asset Management module offers the ability to plan and manage planned and preventative maintenance tasks, keep track of asset expenditures and depreciation, and track asset acquisition and disposal. The goal of reliability management, an asset management strategy, is to maximise asset reliability while taking condition and criticality into account. In TechoERP, asset maintenance is carried out by:

  • From the Asset master, enable "Maintenance Required."
  • Assemble a team for asset maintenance.
  • Establish the Asset Maintenance.
  • The creation of an asset maintenance log.
  • Make a log for asset repairs.
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Assets Reports

In the given date range, this report displays the Purchase Amount, Depreciated Amount, and Cumulative Total Depreciation for all Assets. Additionally, it displays the Asset's current value and depreciation status.

Based on asset category, this report displays the price of buying, selling, and scrapping every asset. Additionally, the report displays depreciation information based on the chosen period and the category of assets' net value.

A consolidated picture of all the information pertaining to an asset's present status is offered by the fixed asset register. All of the fixed assets you have developed are tracked in a fixed asset register. This not only includes the assets you already own but also keeps track of any assets you dispose of.

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Assets Depreciation

Multiple depreciation schedules are created for various finance books. To calculate an asset's depreciation and add entries to the asset record's depreciation table, you must click the "Calculate Depreciation" checkbox when creating the asset.

Types of depreciations in ERPNext:

  • Straight line: A straight line formula is used to calculate depreciation, which is then uniformly dispersed throughout the chosen frequency in months.
  • Double Declining Balance: This is sometimes referred to as a falling balance of 200%. Each time this method is used, 20% of the current value is depreciated.
  • Written Down Value: Over the course of the asset's life, the asset value depreciates by the fixed depreciation % that has been determined.
  • Manual: You can specify the Schedule Date and Depreciation Amount for each period using this method.