The management of assets has become more important with the global emphasis on improved corporate governance. Shareholders demand the effective use of corporate assets to maximise shareholder value.

The South Atlantic Solutions Fixed Assets module provides an effective solution to managing assets throughout the asset's life cycle.

The Asset Maintenance module allows for the maintenance of an asset after it has been recorded in the systems. Changes can be made by the user and / or the system itself. Modifications are all subject to the standard T24 security control mechanisms.

The module allows for locations to be managed. This is particularly useful for moveable assets whose associated value or risk change with geographical locations. Recording and tracking of such movements is easy and friendly. The system maintains a history of movements for reporting and enquiry analysis.

The Asset Maintenance module allows for revaluation of assets to be effected as required. Different accounting treatments are supported. It allows revaluation adjustments to be managed both through "Equity" and through the income statement. All revaluation entries are automatically raised and are considered in future write-downs, sales or disposals. The system maintains history of all revaluations for enquiry and reporting purposes.

The Asset Maintenance module allows cost apportionment to be done periodically. This is spread over an expected useful life as defined by the bank. Various apportionment methods are supported. The system raises the associated accounting entries during the applicable Day-End process. Depreciation entries are considered during asset write-offs, sales or disposal. Depreciation is performed on an accurate "time-line" basis. All T24 advantages can still be exploited.

Asset acquisitions are maintained based on ownership of asset. Assets which directly belong to the bank, result in the generation of accounting entries. Those assets which do not belong to the bank, maintain all relevant information for enquiry and reporting purposes. These are usually assets financed by the bank for which values are periodically re-appraised.

The alternative methods permitted to manage an asset are setup via an "easy-to-create" parameter record.

The Asset Maintenance module supports the recording of numerous standard and also unique information. These are split into details relevant to accounting and those relevant to reporting. The accounting treatment is pre-defined in accordance with the policy of the bank.

The module supports "Local Reference Functionality". Thus additional details can be easily added for user specific acquisition information. Asset acquisition can be backdated and associated depreciation performed retrospectively. Depreciation rates can be unique to individual assets or applied to asset groups.

Being a standard T24 module, users can create unique screen versions in preferred languages. All other T24 advantages fully apply.