FINANCIAL MANAGEMENT SYSTEM: TAX CALCULATION MANAGEMENT AND FIXED ASSET MANAGEMENT WITH ASSETS TRACKING AND MAINTENANCE

Abstract

This study focuses on the perspectives of the Financial Management System (FMS), which plays a crucial role in ensuring the stability, compliance, and growth of an organization. It presents a financial management system designed to streamline tax calculation, optimize fixed asset management, and improve asset tracking and maintenance processes. The system incorporates advanced algorithms and user-friendly interfaces to automate tax calculation procedures, ensuring accuracy and compliance with evolving tax regulations. Through real-time data feeds and intelligent analytics, it provides insights into tax liabilities, enabling proactive decision-making and risk mitigation strategies.  Additionally, the system offers comprehensive fixed asset management capabilities, facilitating efficient tracking, depreciation calculation, and asset lifecycle management. Through centralized databases and customizable reporting tools, organizations can gain visibility into asset utilization, performance, and financial implications, empowering strategic allocation and optimization of assets. The proposed system utilizes advanced algorithms and data management techniques to accurately calculate taxes, efficiently manage fixed assets, and track assets throughout their lifecycle. It integrates with existing financial software and utilizes cloud-based solutions for scability and accessibility. The implementation of Tax Management and Fixed Asset Management has yielded positive outcomes for all stakeholders in the FMS industry. The platform's real-time monitoring features allow the company to monitor and make necessary adjustments to optimize the process, resulting in reduced delays and increased user satisfaction. The system has been effective in modernizing financial operations and improving operational efficiency, leading to increased revenue and growth opportunities for financial companies. FMS Tax Management and Fixed Asset Management have brought significant benefits to the financial industry. By adopting a proactive and goal-driven approach, the project team effectively addressed challenges and facilitated positive changes in the FMS industry. With the continued use of FMS Tax Management and Fixed Asset Management, the financial industry can expect further improvements in operational efficiency, cost reduction, and profitability.