SACCOs acquire assets to support their operations and generate revenue. Over time, the value of these assets may change due to depreciation, appreciation, maintenance, or other factors.

Kwara Core's Asset Management module allows SACCOs to record and manage their assets throughout their lifecycle, including acquisition, transfer, maintenance, revaluation, disposal, and reporting.

Roles and Permissions

Before using the Asset Management module, ensure that the user has the required permissions.

1. Go to Settings > Roles and Permissions.

2. Select the relevant user role.

3. Under Asset Management, enable the required permissions.

4. Save the changes.

The user will now be able to access the Asset Management functionality based on the permissions assigned.

Adding an Asset Category

Asset categories help you organise similar assets and link them to the appropriate GL accounts.

1. Go to Asset Management > Categories and GL.

2. Click Add Category.

3. Enter the category name and the relevant GL details.

4. Save the category.
   
   

Example:
A SACCO can create a Farming Equipment category for assets such as tractors, ploughs, and other farming equipment.

Adding an Asset

To record a new asset:

1. Go to Asset Management.

2. Click Add Asset.

3. Enter the asset details, including:

   • Asset name

   • Asset category

   • Acquisition date

   • Useful life

   • Salvage value

   • Location

   • Department

   • Depreciation method

4. If the payment journal has not yet been posted, attach the relevant Payment GL.

5. Save the asset.

Note: The payment journal should account for the asset purchase by debiting the asset GL and crediting the relevant bank or payment method GL.

Transferring an Asset

You can use Asset Management to record when an asset is moved between branches, offices, departments, or other locations.

1. Go to Asset Management > Transfer, or use the transfer option from the Asset Management landing page.

2. Select the asset you want to transfer.

3. Enter the transfer date and other required details.

4. Submit the transfer.

The transfer must then be approved by another authorised user.

If you have both the required initiation and approval permissions, you can initiate and approve the transfer yourself.

Recording Asset Maintenance

You can record maintenance activities and costs against an asset.

1. Go to Asset Management > Maintenance, or select the maintenance option from the landing page.

2. Select the relevant asset.

3. Enter the maintenance details, including:

   • Maintenance cost

   • Maintenance type

   • Maintenance date

4. Save the maintenance record.

The maintenance details will be available under the relevant asset for future reference.

Revaluing an Asset

If the value of an asset changes, you can record the updated value through the revaluation function.

1. Go to the Asset Register.

2. Find the asset you want to revalue.

3. Click the Actions dropdown.

4. Select Revalue.

5. Enter the required revaluation details.

6. Submit the revaluation.
   
   

Disposing of an Asset

When an asset is no longer required, you can record its disposal in Kwara Core.

1. Go to Asset Management > Disposal, or select the disposal option from the landing page.

2. Select the asset.

3. Enter the disposal details, including:

   • Disposal cost

   • Disposal method

   • Reason for disposal

4. Submit the disposal.

The disposal must be approved by another authorised user.

If you have both the required initiation and approval permissions, you can initiate and approve the disposal yourself.

Viewing and Exporting Asset Reports

Asset Management reports can be exported for record keeping and further analysis.

1. Go to Asset Management > Reports.

2. Select the required report.

3. Export the report in CSV format.
   
   

Best Practices

To keep your asset records accurate and up to date:

• Record assets as soon as they are acquired.

• Use the appropriate asset category and GLs.

• Keep asset locations and departments updated.

• Record all asset transfers and maintenance activities.

• Revalue assets where applicable.

• Record asset disposals promptly.

• Review asset reports regularly.