06-05-2017, 09:36 AM
Fixed asset management is an accounting process that seeks to track fixed assets for financial accounting, preventive maintenance and theft deterrence purposes. Organizations face a major challenge to track the location, amount, condition, maintenance and depreciation status of their fixed assets. A popular approach to asset tracking uses serial numbered asset tags, which are barcode labels for easy and accurate reading. The asset owner can inventory with a mobile bar code reader and then produce a report.
The available software packages for the management of fixed assets are marketed in small and large companies. Some enterprise resource planning systems are available with fixed asset modules.
Some tracking methods automate the process, such as using fixed scanners to read barcodes on rail freight wagons or by placing a radio frequency identification (RFID) tag on an asset.
The management of fixed assets such as buildings, facilities and machinery, which can not be converted to a fair value in cash in a timely manner. Fixed assets are often managed through the use of asset tags, which are tracked through serial numbers or bar codes, to facilitate organization, and are presented for the purpose of accounting, maintenance and deterrence of Stole.
