Fixed Asset Register Prepration

Fixed Asset Register Prepration

Fixed Asset Register is an accounting method that is used for major resources of a business or as a statement of an organization which shows its owned asset. Fixed assets are those such as land, machines etc which is held for the purpose of production of goods or rendering of services. Not all the assets are capitalized but company may have policy to capitalize only those assets that cost more than the specified amount. In several companies improvements or alterations made to an asset are capitalized separately in fixed asset register and which is not correct. Therefore to avoid irreconcilable differences noticed by the auditors in making alterations in existing asset our company is dealing in Fixed Asset Register Updating service.

Need For Fixed Assets Register In An Organization Are:

  • Inaccurate calculation for depreciation rates
  • Lack of audit trail and overall security
  • Inability to link assets or batch disposal
  • Time wasted on tedious tasks such as data entry
  • Lack of confidence in data integrity

Our Company Helps Our Customers In Maintaining And Updating Fixed Asset Register With Following Details:

  • Identification number
  • Acquisition date of the asset
  • Description of the asset
  • Cost of its acquisition
  • Accumulated depreciation in cist of the asset
  • Net book value of the asset
  • Asset’s physical location

Therefore our company is fully fledged in maintaining and updating the fixed asset register as per the determined format given by the entity. We are capable of overcoming the challenges faced by the small and large organizations. It is important for a company to understand the drawback of using spreadsheet and should implement solutions that are designed specifically for the intended purpose.

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