Depreciation Module

Depreciation for Your Assets, Appreciation for Your Growth

Depreciation Module -
For Accuracy, Compliance and Flexibility

Flexible Accounting Year Setup

Multiple Books | Effortless Adjustments | Custom FInancial Years

WebFAMS allows you to define your accounting year—April to March or January to December. Manage multiple books, including Company Book, Income-Tax Book, and custom-defined books, ensuring compliance across different financial regulations. Adjust your accounting periods easily, aligning depreciation schedules with your organizational requirements.

Comprehensive Asset Valuation

Individual Asset Settings | Cost and Salvage Value | Choice of Methods

Each asset can be assigned specific depreciation details, including cost, salvage value, and the method of depreciation (Life, SLM & WDV). This level of detail allows for precise calculations based on the unique characteristics of each asset, ensuring that the financial impact is accurately reflected in the organization's financial statements.

Accurate Depreciation and Sale Profitability

Multi-Book Support | Period-based Reports | Tax Compliance

Calculate depreciation seamlessly across multiple books, including the Company Book, Income-Tax Book, and any custom-defined books. Enjoy the flexibility to make necessary adjustments to depreciation values, ensuring accuracy in your financial reporting. Generate comprehensive period-based depreciation statements, fixed asset schedules, and profit and loss reports for asset sales, discards, and retirements. Maintain full compliance with tax regulations by aligning your financial statements with both Company and Income-Tax requirements, ensuring transparency and precision in your asset management processes.

Seamless Integration with WebFAMS

Easy Customization | Data Synchronisation

Depreciation Module integrates effortlessly with WebFAMS, syncing all asset data for real-time insights into depreciation trends. This integration provides comprehensive depreciation history and supports informed decisions about asset utilization and replacement strategies, enhancing the financial management of your asset lifecycle.

Regulatory Compliance and Audit Readiness

GST Compliance | Multi-Filtered Reports

The Depreciation Module offers a complete solution for managing depreciation and preparing for audits. It automates depreciation calculations, generates tax-ready reports compliant with IndAS and the Income Tax Act, and provides GST reconciliation for capital goods sold within five years. With a category-wise dashboard to track Gross and Net Block across branches, and a comprehensive audit trail, it simplifies compliance, reduces errors, and eases the year-end closing process.

Precise Depreciation Tracking, Automated Calculations, and Full Compliance

Ensure precision in your financial reporting with the Depreciation Module. From regulatory compliance to automated calculations, this module provides everything you need to manage asset depreciation efficiently. Experience reduced manual workloads, compliance peace of mind, and seamless integration with your existing processes.

Automated Calculations

Benefit from precise and efficient depreciation calculations with our automated system, eliminating manual errors and ensuring compliance with financial regulations.

Fuller Flexibility

Experience enhanced adaptability with total flexibility to accommodate diverse depreciation needs. Tailor depreciation schedules with ease, ensuring accurate financial planning and reporting.

Complete Compliance

Simplify compliance with automated reports that adhere to Companies Act, Income tax and GST regulations, making audits and financial management smoother.

Managed Services

Although our in-built solution is easy to operate and can be smoothly executed, we understand that some constraints, may make it challenging for you. Hence, we offer managed services for 26AS reconciliation, wherein we will meticulously handle the entire process for you.

Are you looking for customized or industry-specific solutions?

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Client Testimonials

We have been using this software for the last few months and pleasure to inform you that it is working fine and your support team is of great help for any query and clarifications. Overall, the performance of the software is really good, including your support team.

Fujitec India Private Limited