Modules
Eazy ERP, Software for fixed asset depreciation

Overview - EAZY ASSET > Depreciation

Depreciation helps you properly depreciate assets over their useful life and hopefully, help avoid receiving a qualified opinion on your next audit.

As per Companies Act

User defined rates and methods, WDV or SLM Provision of 100% depreciation for assets costing less than Rs. 5000/-. Yearly/half yearly/quarterly/monthly depreciation can be calculated.

As per Income-tax Act

User defined Blocks of assets and rates for each financial year, 50% depreciation for assets used for < 180 days.

Retrospective Change

  • In Rate
    • When the company decides to change the rate, complete recalculation of depreciation is carried out and report is generated.
  • In Method
    • When the company decides to change the method from WDV to SLM or vice versa, complete recalculation of depreciation is carried out and report generated.
  • In Classification
    • When an asset is reclassified, depreciation is re-calculated from the date put to use and any shortfall / excess provision of depreciation is suitably adjusted.
  • Prospective Change
    • The rate / method / Category can be changed prospectively without affecting the previous calculations

Features

  • Track of all lease agreements, maintenance agreements etc.
  • Track cost center, physical location, asset ID, physical ID , date of use etc.
  • User defined fields can be added.
  • Extensive Security features.
  • Easily Accessible.
  • Web-based software.
  • Access to reports & records anywhere and anytime.

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Our Clients

We at Eazy Business Solutions value our client relationships. Our solutions are designed to address the need of various industry verticals - scaling from low and mid-sized companies to large production and manufacturing establishments.

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