Implementation guide

Implementation steps

1. 1

   Prepare your data

   Most of the effort in any implementation is the master file. Get it right once and everything after it is easier.

   • Start from the last audited fixed asset schedule, not a working copy: the closing gross block and accumulated depreciation by class are your control totals.
   • Put the register into the import template layout. Every asset needs a name, a category, a location, a purchase date and a cost; the put-to-use date drives depreciation.
   • Collect the Income-tax block WDV at the cut-over date from Form 3CD clause 18 of the last tax audit report.
   • List your masters: branches, locations, departments, cost centres, categories, vendors and custodians. The importer can create missing masters, but a clean list avoids duplicates.

   Download the register templateGuide: the columns you needGuide: moving from Excel

2. 2

   Set up company, books and financial year

   Sign-up creates your real company and administrator; there is no demo data in your workspace.

   • Create the company and its branches, and set the financial year (April to March in India).
   • The Companies Act (Schedule II) and Income-tax (s.32 block) books are built in. Add an Ind AS / IFRS, management or custom book if you need one, and choose the corporate book that posts to the ledger.
   • Set the depreciation policy per category: method, useful life and residual value. Schedule II lives ship as reference data.
   • If journals will go to your accounting system, map the ledger accounts first.

   Start the free trialFinancial ManagementDepreciation

3. 3

   Run a test import

   Import a small sample first, then the whole register.

   • Upload the file and map any columns that do not match automatically.
   • Read the dry-run report: every error and warning is listed before anything is saved. The import is all-or-nothing, so fix the rows and upload again.
   • Check the preview against your control totals; opening balances must tie to the audited figures.
   • After the import, open a few assets and use Explain on their depreciation to confirm the policy is what you expect.

   Fixed Asset ManagementCross-check with the Schedule II calculator

4. 4

   Print QR labels

   Labels connect the register to the floor, so the first count can be scanned rather than ticked.

   • Print QR, barcode, Data Matrix or EAN-13 labels from the register on your own label sheets. A QR code carries an identifier only, never the asset's values.
   • Choose a durable label material for the environment: plant floors and outdoor assets need tougher labels than office furniture.
   • Tag location by location, and record any asset you cannot find or that has no register entry.

   Guide: QR vs barcode vs RFIDFree QR label generator

5. 5

   Pilot a verification count

   Run one small campaign before the full count.

   • Create a campaign scoped to one location or category and assign a team.
   • Count with a USB scanner, a webcam or count sheets on the desktop edition; on the web edition, a USB scanner, count sheets or the mobile app with offline counting.
   • Work the missing, found-elsewhere and mismatch queues to see how discrepancies are resolved and approved.
   • Review the signed statement the campaign produces, and agree with your auditor what evidence they want to see.

   Physical VerificationGuide: CARO 2020 and verification

6. 6

   Assign roles

   Give each person only the access they need.

   • Administrators manage users, masters and settings.
   • Finance users run depreciation, close periods and post journals.
   • Asset managers and custodians record transfers, maintenance and counts through approvals.
   • Auditors get read-only roles that can see assets, evidence and reports and export them.

   Audit & ComplianceSecurity