Fixed asset management in ERP is all about tracking, managing, and accounting for a company’s physical assets. These assets can be anything from machinery and vehicles to buildings and equipment. The ERP system keeps a record of how much it cost to buy each asset, where it is, how much it has been depreciated, when maintenance is needed and when it will be thrown away. Using ERP means you can automatically keep track of your assets and work out how much they are worth. This helps you to report your finances correctly and to stick to the rules about accounting. It also helps you to make the most of your assets and to plan how to invest in them.
