Fixed Asset Management

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Fixed assets form a substantial part of your company’s Balance Sheet. The related expenditures e.g. Maintenance costs, insurance and depreciation are material amounts in the P& L Account. Financial and physical controls over fixed assets are therefore paramount to ensure their effective contribution towards your company’s operations and performance.

There’s no room for error when you need a precise picture of your company’s physical assets. Knowing exactly what assets you currently have, where these assets are located and how these assets are changing over time, allows a company to keep track of details of each fixed asset, ensuring control and preventing misappropriation of assets.

Movable Assets:

Movable assets are assets that are either not affixed to a building, or are fixed to a building, but not permanently affixed, can be removed without costly or extensive alterations or repairs to the building, and can be used after removal.

Examples of movable assets include furniture and equipment that are easy to move from one building to another.

Immovable Assets:

Immovable assets are assets that are permanently affixed to a building, cannot be easily or cheaply removed from the building, or cannot be used after removal from the building

Benefits Of Asset Tagging:

o Tracking Asset purchase and disposal values.

o Tracking Depreciation figures.

o Tracking of Asset replacement dates for budgeting purposes Scheduling of payments related to assets e.g. land rates, rentals, leases, Insurance, licenses etc.

o Tracking of guarantees, warranty, software licenses and maintenance contracts.

o Tracking suppliers and the performance of their assets.

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Fixed Assets Physical Verification And Tagging Entails The Following Activities:  

Tag Assets 

Physical identification and labeling of the assets with special bar coded labels.

physical verification

Comprehensive and complete physical verification exercise of all the organizations Fixed Assets. 

SunTech Solutions Limited has work closely with use during the duration of the project keeping timelines and budget. Overall, our organization has been extremely pleased with the expertise, services and professionalism demonstrated by SSunTech Solutions Limited,
Book keeping
Fixed Asset Software

Matching of the output of the verification exercise with existing records. A process of linking the asset values in the existing records and the assets tagged at each location is carried out.