Upcrest Fixed Asset

Upcrest Fixed Asset is a software solution designed for efficient management and tracking of fixed assets. It caters to companies of all sizes across various industries, including manufacturing, trading, engineering, procurement, commissioning (EPC) businesses, foundries (ferrous and non-ferrous), and forging units. Upcrest Fixed Asset offers a comprehensive set of features to streamline fixed asset management and ensure accurate financial reporting.

Key Features

Multi-Company: Upcrest Fixed Asset allows multiple companies within a group to share data, such as customers, suppliers, and items. User rights can be implemented to ensure data privacy and security. The system enables automatic generation of inter-company transactions and provides consolidated reports for the entire group.

Multi-Location: Upcrest Fixed Asset supports multiple physical locations, enabling companies to manage fixed assets across different branches or warehouses.

Multi-User: The system allows multiple users to access and work with Upcrest Fixed Asset simultaneously. User rights and access restrictions can be set up to ensure data security and privacy.

Multi-Currency: Upcrest Fixed Asset has the capability to handle multiple currencies, facilitating tracking of exchange gains or losses on realization and revaluation.

Multiple Year Working: Upcrest Fixed Asset supports seamless continuation of operations into the next year, even if the previous year is not closed. It offers flexibility in financial reporting by accommodating different accounting years and tax years.

Fixed Assets Addition and Disposal: The system enables recording of fixed asset additions, disposals, and write-offs. It maintains a comprehensive history and depreciation working of fixed assets, including cost break-up tracking and analysis.

Depreciation Calculation: Upcrest Fixed Asset includes a depreciation process that adheres to Indian Accounting Standards and IFRS. Depreciation can be calculated monthly or up to a specific date, with historical data retention.

Bar Code Stickers and Physical Verification: Upcrest Fixed Asset supports the generation of bar code stickers for fixed assets, simplifying physical verification. The system also facilitates the creation of physical verification lists to ensure accurate and up-to-date fixed asset records.

Reports and Registers: Upcrest Fixed Asset offers a variety of reports, including a Fixed Assets Register and depreciation reports. Reports can be customized and generated monthly or up to a specific date. The system allows for seamless import of data from other software to build the Fixed Assets Register.

Data Import and Reconciliation: Upcrest Fixed Asset allows for easy import of data from legacy systems or Excel to build the Fixed Assets Register. The system provides reconciliation features to ensure accuracy and consistency of accounting and fixed asset records.