This herculean task has been taken as a challenge by us and by our team. We will take your book data (In form of Excel) and depreciation schedule and construct a template with all the details such as Name, Bill No, Bill Date, Vendor, Branch, and Date of purchase
We will match each year, gross block and additions for the year, and also WIP. Then we will start matching the tracking sheet with the book data.
Once the details are cleaned and corrected, the data will be migrated into the portent SMART ASSETS™ Application.
Porting of the data in Smart Assets Software
Once the above process is completed we will import all the assets in to the Smart Assets software and start calculating the depreciation for the each year and match the same with the schedules, finally we will match the financial year 2007-2008 with your companies act and income tax schedules
After the physical audit has been completed, we now create the records for all the financial years commencing from the date of purchase of the oldest asset. In the event of the data, needs to be captured from a specific date, the opening values of the assets, is collected as of date and the data is imported to Smart Assets™. The reports are then printed out and given to the concerned officers.
There are about 75 varieties of reports.