Fixed assets reporting
Requirement
The reporting of fixed asset movements, transfers, sales, and disposals is commonly required.
M3 solution
M3 functionality includes specific reports that support annual reporting requirements for these fixed asset movements in the accounting year:
- Asset transfers
- Sales of assets
- Disposals of assets
Localized depreciation rules and legal report formats are supported by the country version for India:
- Income Tax Reporting
For the computation of the annual income tax of a company, depreciation can be calculated based on an asset pool or a book value of tax asset groups.
- Companies Act Reporting – Schedule VI
Configuration guidelines
| Program ID | Program name | Description or comment |
|---|---|---|
| FAS500 | Fixed Asset. Print Catalog | |
| FAS510 | Fixed Asset. Print Values | |
| FAS515 | Fixed Asset. Print Detailed Catalog | |
| FAS520 | Fixed Asset. Print Period Changes | |
| FAS530 | Fixed Asset. Print Historical Values | |
| FAS550 | Fixed Asset. Print Values Detailed | |
| FAIN10 | Tax Asset Group. Open | Grouping fixed asset information by tax asset group. |
| FAIN15 | Fixed Asset Register. Open | Country specific version of a fixed asset register. |
| FAIN20 | Report of FA as per Schedule VI | Schedule VI is a country specific report for fixed asset movements. |