Fixed Asset Management
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About SunTech Solutions Ltd
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:
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.
Fixed Assets Physical Verification And Tagging Entails The Following Activities:
Fixed Assets Physical Verification And Tagging Entails The Following Activities:
Fixed Assets Physical Verification And Tagging Entails The Following Activities:
Fixed Assets Physical Verification And Tagging Entails The Following Activities:
Fixed Assets Physical Verification And Tagging Entails The Following Activities:
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.
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.