Welcome to the guide on the Asset Capitalization feature in Empress. This feature is designed to help you manage and track your business assets. It allows you to capitalize and decapitalize assets, which refers to adding or subtracting the value of assets from your business’s capital.
What is Asset Capitalization?
Asset Capitalization is a financial strategy that involves adding expenditure on an asset to the cost of the asset itself. It’s a way of acknowledging that the expenditure will likely provide an income stream over a prolonged period.
In the context of Empress, this feature enables you to maintain a record of all the assets, their costs, and their respective capitalization details.
How to Access the Asset Capitalization Feature
- Navigate to the side panel on your Empress homepage.
- Click on the Assets tab.
- Select Asset Capitalization from the dropdown menu.
Viewing and Editing Asset Information
With the Asset Capitalization feature, you can view and edit information about your assets, including:
- Asset Name: The name of the asset.
- Asset Code: The unique identifier for each asset.
- Asset Location: The location of the asset.
- Asset Cost Center: The cost center associated with the asset.
- Asset Value: The financial value of the asset.
Sorting and Tracking Assets
The Asset Capitalization feature provides options for sorting and tracking your assets. Here’s how:
- Sorting: You can sort your assets based on their names, codes, locations, cost centers, and values.
- Tracking: The feature allows you to track the changes in the value of your assets over time.
User Roles and Permissions
Different user roles have different permissions in the Asset Capitalization feature.
- The Manufacturing Manager and Quality Manager roles have full permissions, including creating, editing, and deleting assets.
- Other users might have view-only access or might not have access to this feature depending on your organization’s settings.
Conclusion
The Asset Capitalization feature in Empress is a powerful tool for managing your assets. It helps you keep track of the value of your assets and provides you with insights that can inform your business decisions.
For additional assistance, please refer to our non-technical resources or contact our support team. Remember, understanding and managing your assets is key to business success. Happy asset managing!