Mamut Asset Register
There are few who can claim to have full control over their business’ assets - even more so when it comes to writing them off. The Mamut Asset Register provides you with a simple way to stay on top of your assets and keeps you informed of an asset’s depreciated “book” value at any given time. Best of all – it does all of this for free!
The Mamut Asset Register is a tool, which helps you to stay in control of your assets in a simple and efficient manner. Here, you register all the details for each individual asset: serial number; purchase price and date; the warranty expiry date including a function to alert you when it is approaching; insurance number; a separate field for notes and more.
Depreciation
All assets are linked to a group. This makes it easier to handle assets with the same depreciation method. The program supports both straight line and reducing balance, and you choose the method you want to apply for each group so that when you create a new asset, it will inherit the depreciation method from the group it is linked to. This way, it won’t be a problem to make changes, e.g. to the depreciation rate, for a group should the legal requirements change.
Most businesses operate with around six depreciation groups and you will find it easy to create the groups that are relevant for you and your business, in the Mamut Asset Register.
Help with journal posting
To record your depreciation correctly, they should be posted in your accounting system on a monthly basis throughout the accounting year. If you have a large number of assets for depreciation, it can soon become a rather heavy-handed process to keep on top of all your assets, their current depreciated value and their depreciation history. Not to mention generating the correct journal entries for each monthly depreciation.
This is exactly where Mamut Asset Register can really help you out. Here, you can depreciate all your various assets in one go every month with the help of a wizard. Once the depreciations have been made, you will see them all listed on a report, which will help you with posting the depreciation journal for that month. If you enter the account numbers you will use for each depreciation group in that group’s settings, you can even print a complete ledger suggestion report.
Free of charge
The first version of the Mamut Asset Register will be available for free to all users and can be downloaded here.
Why choose Mamut Asset Register?
1. Everything in one place
Mamut Asset Register gives you a clear overview over all your assets, where they are located, when their warranties expire, when you need to re-buy them and, of course, a running overview of the depreciations linked to the asset. Having all information gathered in a single place provides a good starting point from which you can administer all your business assets.
2. Efficient and user-friendly
By assigning specific depreciation settings, e.g. rate and length, to depreciation groups, it becomes easier and more efficient to depreciate all your assets in one go.
3. Ledger suggestions
By registering which accounts you want to use for the different depreciation rates, you can extract ready-made ledger suggestion reports directly from the program. They will provide you will the information you need to be able to post your depreciation journals correctly in your accounting system.
4. Desktop overview
The program desktop provides you with an overview for the current year for assets that have been depreciated, expiring warranties and products for which you entered a renewal date.
5. Useful history tool
On the registration card for each individual asset you will find a separate Change Log tab. Here you can follow all the changes and depreciation that have taken place for the asset, logged by date and time. Under the Depreciations tab of the Asset card, you even have the possibility to undo the last registered depreciation.
Contact
For more information, please email paulainsworth@oxsystems.co.uk
