20. Wipro Consulting Confidential 20
Fixed Asset Management
Fixed Assets
(Major Activities)
Fixed Assets
(Major Activities)
Maintain Asset Master
Calculate
Depreciation
Asset Disposal /
Write-Off
Status of asset is changed and
the asset is deleted form the
master list
Post depreciation in to P&L
account
Addition date, disposal date
Profit and Loss on sale of
asset
Written down value
calculation etc.
Depreciation type,
depreciation formula
Sold and written –off asset
Depreciation rule followed
is Straight Line Method
Asset Code, Asset Details,
Location, cost, break-up of
cost
Disposal & write-off
Depreciation
Asset Master
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General Ledger Management
General Ledger
General Ledger
Journal Entries –
Settlements &
Adjustments
Month-end (Period End) closing
vouchers - accruals & provisions
Summary reports for management reporting
are then generated manually
Write-offs
Build financial reports/statements
Perform period end closing
Interfacing with he other modules like – AP,
AR, BFM, FAM, GL & PP
Post pre-paid expenses, accruals, all this is
done manually
Journal Proof reports are generated for
validation. After validation the entries are
posted into the system
Post inventory receipts issues &
adjustments, Depreciations
Accruals and Pre payment are done
manually
Post payroll entries from journals to GL,
this is currently done manually
Prepare Journal values manually and update
entries automatically into the system
Period End Closing – Voucher Accruals &
Provisions
Journal Entries – Settlements &
Adjustments
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Payroll Processing
Payroll
Payroll
Generate Salary
Statements
Vacation Settlement
Deduct and calculate final pay for processing
Calculation and inclusion of overtime
payment, night shift allowance and vacation
settlement
Calculate the GOSI amount as per the rules
Vacation salary is manually calculated and is
then manually adjusted in the payroll
Salary deductions (Late coming, Fines and
Advance salary) deductions list from accounts
Calculate payment to be made based on
leave records and eligibilities
Check Leave Record
Verify and get information on Leave
balance, travel destination, tickets
Card punching data is collected electronically
and is integrated with the EMIS system
Vacation Settlement
Generate Salary Statement
