OUR FIXED ASSETS TAGGING / VERIFICATION METHODOLOGY
The objective is to confirm the existence, condition and location of all the assets in the register.
The assignment typically entails the following:
- Physical verification and tagging of all the assets. The tags should have a unique identification number for each asset. We use the bar coded tags to enable electronic data capture for speed and accuracy;
- Reconciliation of the verification results to the register and the general ledger, and proposal of any adjustments that need to be made the to update the register and the general ledger.
- Upload of Data from the verification exercise to the asset register in whole or in part.
- Recommendations for best practice and innovation in managing and safeguarding of the fixed assets.
- Implementation of Asset Management Solutions
Types of tags range from adhesive paper, laminated polyester to laser-etched aluminium. We will work with you to determine the most appropriate and cost-effective for your number and type of assets. Below is the typical tag design:
Barcode Scanners, Database Software
We will advise on the most appropriate and cost-effective for your number and type of assets, as well as recommendations for verification (frequency, in-house versus outsource).
Inventory management including (Hospitality) Operating Supplies and Equipment (OS&E)
Please contact us for a free discussion on your environment, challenges and initiatives that we could partner with you to improve the controls and processes.