Here’s a brief description of each functionality in the assets and inventory management module of your custom software:

1. Asset Register:
   This feature allows organizations to maintain a comprehensive register of all assets, including details such as asset type, acquisition date, location, and assigned personnel.
2. Automated Depreciation Computation and Posting:
   The software automatically calculates and posts depreciation for assets based on predefined methods, ensuring accurate financial reporting and compliance.
3. Asset Disposal:
   This functionality enables users to manage the disposal of assets, including the process of documenting asset write-offs and sales, ensuring proper accounting for disposed assets.
4. Asset Revaluation:
   Users can perform asset revaluations to adjust the recorded value of assets based on market conditions, ensuring that financial statements reflect true asset worth.
5. Inventory Management:
   This feature encompasses various functions related to stock management, ensuring efficient tracking and control of inventory levels.
   • Ordering:
     Users can create and manage purchase orders for stock replenishment, ensuring timely procurement of necessary inventory.
   • Delivery Management:
     This functionality tracks deliveries of inventory items, allowing users to confirm receipt and update stock levels accordingly.
   • First-In-First-Out (FIFO):
     The system implements FIFO stock management to ensure that the oldest inventory items are sold or used first, minimizing waste and managing shelf life effectively.
   • Stock Level Monitoring:
     Users can monitor stock levels in real-time, receiving alerts for low stock or overstock situations to optimize inventory management.
   • Stock Audits:
     The software facilitates regular stock audits to reconcile physical inventory with recorded amounts, ensuring accuracy in inventory records.
   • Supplier Management:
     Users can maintain supplier information, track performance, and manage relationships to streamline inventory procurement.
   • Inventory Valuation:
     The module allows for the valuation of inventory using various methods (e.g., FIFO, LIFO, weighted average) to reflect accurate financial positions.

These functionalities collectively ensure effective management of assets and inventory, enabling organizations to maintain accurate records, optimize resource utilization, and enhance overall operational efficiency.