MeltX FAM is the fixed asset management module built by MeltX Software Solutions, an enterprise software company in Pune, India.
Asset register
FY 2026 posted| TAG | ASSET | SCH II WDV | IT ACT WDV |
|---|---|---|---|
| FA-10428 | CNC machining centre | 9,92,000 | 8,68,000 |
| FA-10429 | Diesel generator 250 kVA | 5,22,750 | 4,61,250 |
| FA-10430 | Server rack, row B | 2,53,333 | 2,28,000 |
| FA-10431 | Forklift, 3T | 7,69,250 | 6,78,750 |
THE PROBLEM
Assets move between floors, branches and cost centres. Transfers happen over email. Disposals are recorded late, or never. Over a few quarters the register in the finance system and the assets on the ground drift apart. The gap surfaces during a statutory audit, an insurance claim or a due diligence exercise, which is the most expensive moment to find it. It does not stay an internal problem either. Under the Companies (Auditor's Report) Order 2020 the auditor has to state in the report whether the company maintains proper records showing full particulars of property, plant and equipment, and whether management has physically verified them at reasonable intervals.
Finance, administration and plant teams each hold a version of the asset list. None of them agrees, and nobody can say which one is current.
Useful lives, componentisation and shift based rates are applied manually in one workbook, the block of assets working for income tax in a second, so a single error repeats every quarter for the life of the asset and does so in two places.
Verification happens once a year on paper, with no photographic evidence, no way to prove where a given asset stood on a given date, and no record of how the discrepancies found were dealt with in the books.
Assets are transferred, lent, impaired or scrapped without a workflow, so the register carries assets that no longer exist and misses assets that do.
CAPABILITIES
Four capability pillars, each grounded in the mechanism behind it rather than in adjectives.
One controlled register covering the full life of an asset, from purchase order to disposal certificate.
Barcode, QR and RFID tagging, with AI assisted checks when assets are verified in the field.
Two depreciation workings from one asset record, reconciliation with a reason on every variance, and the schedules a statutory auditor asks for.
Preventive and corrective schedules that keep assets productive and their true cost visible.
IN DETAIL
Enterprise software succeeds or fails on the details nobody demonstrates. These are the ones that matter after go live.
Model the organisation the way finance sees it. Roll up asset value by entity, plant, branch, floor or cost centre without re-tagging a single asset.
Every asset carries a named custodian and a department. Handovers are acknowledged, not assumed.
Invoice, warranty card, insurance reference, disposal approval and verification photographs sit against the asset record.
Field teams verify assets in basements, plants and remote offices without connectivity, then sync when they are back online.
Found, not found, moved, damaged and untagged assets are reported as exceptions with evidence, not buried in a spreadsheet column.
Bring an existing register in through a validated template, with duplicate detection before anything is committed.
Add the fields your category actually needs, from chassis numbers to calibration dates, without a code change.
Asset value, ageing, utilisation and verification coverage, delivered to the people accountable for them.
In India the fixed asset register is not a matter of good practice. Three instruments decide what it has to contain: the Companies (Auditor's Report) Order 2020, known as CARO 2020, sets what the auditor must report about it, Schedule II of the Companies Act 2013 sets how the asset is depreciated in the books, and the Income Tax Act 1961 sets how the same asset is depreciated for tax. MeltX FAM holds the register, both depreciation workings and the verification evidence that sits behind them.
Security and compliance positionCompanies (Auditor's Report) Order 2020
The auditor has to report whether proper records showing full particulars of property, plant and equipment are maintained, whether management has physically verified them at reasonable intervals, and whether any material discrepancies noticed on that verification were properly dealt with in the books of account. FAM keeps the particulars on the asset, the date and evidence of each verification round, and the reason recorded against every variance.
Companies Act 2013, Schedule II
Useful life driven depreciation, with residual value limits, a significant component depreciated separately where its useful life differs materially from the rest of the asset, and the higher charge Schedule II provides for double shift and triple shift working.
Income Tax Act 1961
The parallel block of assets working, where the asset loses its individual identity inside the block and written down value depreciation follows the block rather than the useful life, including the half year rule for assets put to use after 180 days. One purchase, two numbers, one system that produces both.
CAG and public sector asset registers
Acquisition documents, verification evidence and movement history sit with the asset, so an audit observation is answered from the system rather than from memory. Departments, zilla parishads and urban local bodies run department wise registers with custodian accountability on the same record.
LIFECYCLE
Each stage writes to the same record. Nothing is retyped into a second system, which is where most asset data goes wrong.
Acquire
The asset enters the register at goods receipt, with purchase order, invoice, vendor and warranty attached.
Tag
A barcode, QR or RFID label is issued under your numbering policy and fixed to the asset.
Assign
Location, department, cost centre and custodian are recorded, and the custodian acknowledges the handover.
Maintain
Preventive schedules run, breakdowns and repair spend are logged, and warranty expiry is tracked.
Verify
Field teams scan and photograph the asset in place. Exceptions are raised with geo tagged evidence.
Retire
Disposal, sale or scrapping runs through approval, with the closing depreciation working retained for audit.
PLATFORM FIT
The MeltX platform shares one asset spine. A record created in FAM is the same record ITAM enriches, ITSM raises tickets against and the Governance Suite reports on. There is no nightly export between three vendors.
One register, read four different ways. Each of these roles asks it a different question, and gets the answer without asking anyone for an extract.
A register that ties to the general ledger, with depreciation working and audit schedules produced from the same source.
Know what is installed where, who holds it, when it was last serviced and what it has cost to keep running.
Verification coverage, exception ageing and approval trails available without requesting an extract from anyone.
Department wise asset registers with custodian accountability and physical verification evidence for audit.
WHERE IT'S DEPLOYED
MeltX FAM is in use across MeltX clientele that includes CEAT, Zilla Parishad Thane, Borivali Education Society and the Maharashtra State Agricultural Marketing Board. Engagement detail and outcome metrics are published only once the client has approved them.
MeltX FAM was configured to the entity, plant and cost centre hierarchy already used by finance. Assets were tagged with barcode and QR labels under the existing numbering policy, and field teams verified them on the MeltX Android application with geo tagged photographs.
MeltX FAM was deployed with a department and office hierarchy matching the zilla parishad structure. Assets were tagged and assigned to named custodians, and physical verification was carried out by MeltX teams with evidence captured in the field.
MeltX FAM and ITAM were configured to the institution department structure, with tagging across laboratories, classrooms and administrative offices, and custody recorded against named department heads.
SECTORS
The sectors whose deployments include Fixed Asset Management. Each page sets out what the register has to answer for in that sector.
FURTHER READING
The questions buyers actually ask during evaluation, answered without marketing language.
Fixed asset management software maintains a single controlled register of an organisation's physical assets across their life, from procurement through tagging, deployment, maintenance and verification to disposal. It computes depreciation, records custody and movement, and produces the reconciliation and audit evidence that finance and statutory auditors require. In India the requirement is statutory rather than discretionary: under the Companies (Auditor's Report) Order 2020 the auditor reports on whether proper records of property, plant and equipment are maintained and whether management has physically verified them at reasonable intervals.
Yes. MeltX FAM computes depreciation using the useful life method set out in Schedule II of the Companies Act 2013, including residual value limits, separate depreciation of a significant component whose useful life differs materially from the rest of the asset, and the higher charge Schedule II provides for double shift and triple shift working. It maintains the Income Tax Act 1961 block of assets working alongside it, so the book number and the tax number for the same asset come out of one record rather than two workbooks that have to be reconciled to each other.
Field teams scan the barcode, QR or RFID tag on an Android device, photograph the asset in place and record its condition. Location is geo tagged. Work continues offline and syncs later. Every exception, whether not found, moved or damaged, is raised with evidence attached. Each round is retained with its date, its evidence and the action taken on every variance, which is the record an auditor works from when reporting on whether verification happened at reasonable intervals and on how the discrepancies found were dealt with in the books.
Yes. MeltX FAM is designed to sit alongside an existing finance system, exchanging asset masters, capitalisation entries and depreciation postings. Integration scope is confirmed during the discovery stage of every engagement, since it depends on the systems already in place.
Yes. Departments, zilla parishads and urban local bodies use MeltX FAM to maintain department wise asset registers with custodian accountability and verification evidence. MeltX is DPIIT recognised, MSME registered and listed on the Government e Marketplace for procurement.
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