| Availability |
Odoo Online
Odoo.sh
On Premise
|
| Odoo Apps Dependencies |
•
Invoicing (account)
• Discuss (mail) |
| Community Apps Dependencies | Show |
| Lines of code | 2066 |
| Technical Name |
foss_account_asset |
| License | See License tab |
| Website | https://www.fossinfotech.com |
| Versions | 11.0 12.0 |
| Availability |
Odoo Online
Odoo.sh
On Premise
|
| Odoo Apps Dependencies |
•
Invoicing (account)
• Discuss (mail) |
| Community Apps Dependencies | Show |
| Lines of code | 2066 |
| Technical Name |
foss_account_asset |
| License | See License tab |
| Website | https://www.fossinfotech.com |
| Versions | 11.0 12.0 |
Indian - Asset Management
This module provides Advance Asset Managemet, Depreciation computation based on Indian Companies Act 2013.
Highlights
Indian Companies Act 2013
Based on Indian Companies Act 2013
Community & Enterprise
Works seemlessly with both odoo 11 Community and Enterprise editions.
Advanced Prorata Temporis
Advanced Prorata Temporis computation.
Depreciation Rate Master
Uneditable Depreciation rate master is provided for both SLM & WDV depreciation methods.
Features
- Gudielines for Depreciation Computation is based on Indian Companies Act 2013
- Provides Advanced Prorata Temporis (Mid month) computation for the first month & Last month, for successive years based on the per day depreciation value of respective year * Number of Days in the month.
- Computes the Number of days in respective month (Start and End month) when Prorata Temporis menthod is chosen.
- Computes Per Day Depreciation of respective year and considers that into calculation.
- Works efficiently for both Community and Enterprise editions of Odoo 11.
- Default Odoo Asset management flow is not effected and will work as required.
Benefits
- Depreciation computation is based on Indian Standards.
- Default Flow of Asset Management undisturbed.
- Supports both methods of Depreciation, 1. SLM - Straight Line Method & 2. WDV- Written Down Value Method
- Fixed Rate(s) for both Methods [SLV,WDV] are provided per computation Year(s) based on guidelines provided by Indian Companies Act 2013
1. Depreciation Rate master
After successful installation of this module, Navigate to 'Configurations' menu in 'Accounting' module --> Choose 'Depreciation Rates' option to view the newly created Uneditable Master which contains fixed rates for both SLM & WDV methods based on Year(s)
2. Asset Types Configuration
Navigate to Accounting module --> Under 'Configurations' menu, choose 'Asset Types' option to open Asster Types / Category Master data. By default the newly added boolean ' As per indian Compaines Act 2013' will be enabled which computs depreciation based on the Rate(s) with respect to method used [SLM or WDV] for the number of years chosen per Asset Type. Enter the Required mandatory default field(s) followed by the custom field 'Depreciation In Year(s)' with respect to the Asset category. Choose the Depreciation Method required by click either of the Radio Buttons of [ Linear (SLM) or Degressive (WDV)]
3. Asset Master
In 'Accounting' Module --> Under 'Adviser' menu --> Choose 'Asset' option to view Asset Master.
4. Asset Creation
In the Asset master --> Click on 'Create' button. --> Enter the Required default mandatory Field(s) followed by the custom created field(s) as follows, --> Choose respective 'Asset Type / Category' from drop down menu (created in previous step with Depreciation methods selected in Asset Category) --> Enter 'Gross Value' of Asset --> The 'Salvage Value' will be auto calculated (Formula: 5% of Gross value) Note: In Case of Asset commissioning from Mid Month (Not 1st of the month) --> Prorata needs to be enabled and 'prorata Date' is to be entered which will be the start date of depreciation.
5. Depreciation(s) Computations
'Per Day Depreciation amount' for respective consecutive years are calculated based on depreciation start date. The formula for Per day Depreciation cost is = [(Gross Amount * Rate of Depreciation)/100] which is Depreciated amount for the first year, therefore the Per day amount will be the (First year Depreciated amount / 365). This is done for consecutive year(s) against the depreciated value of the last year. We have included Two New columns in the 'Depreciation Details' tab namely 1. Month Days - Calculates the number of Day(s) from start date to end of respective month and displays in the line item 2. Depreciation - Custom field to display depreciation with respect to nu of day(s) from Start to End in per Line item. If Prorata Temporis is not selected, Depreciation(s) are calculated from the 1st of the consecutive month. In Case of Prorata Temporis the computation will be as follows, --> First Month Deprecistion (first year): Start date (Proraata date) to the end of that respective month followed by consecutive depreciation(s) from 1st to end of each month. Formula: [Per Day depreciation of respective year * no of Day(s) ] --> Last Month Depreciation (first year): The Start date will be 1st of the last month in the respective depreciation year and the 'End Date' will be the Date on which the Depreciation was initiated (Prorata date) Note: Based on Prorata Date, consecutive year(s) depreciation will be computed.
Yes, the app works perfectly well with Odoo Enterprise as well as Odoo Community. Odoo Online (Cloud) does not allow installation of third-party apps and hence this app cannot be installed on Odoo Online.
You can contact us to request a customization in the app or you can write to us at sales@fossinfotech.com
Odoo Proprietary License v1.0 This software and associated files (the "Software") may only be used (executed, modified, executed after modifications) if you have purchased a valid license from the authors, typically via Odoo Apps, or if you have received a written agreement from the authors of the Software (see the COPYRIGHT file). You may develop Odoo modules that use the Software as a library (typically by depending on it, importing it and using its resources), but without copying any source code or material from the Software. You may distribute those modules under the license of your choice, provided that this license is compatible with the terms of the Odoo Proprietary License (For example: LGPL, MIT, or proprietary licenses similar to this one). It is forbidden to publish, distribute, sublicense, or sell copies of the Software or modified copies of the Software. The above copyright notice and this permission notice must be included in all copies or substantial portions of the Software. THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL THE AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM, OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE SOFTWARE.
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