The desire to know exactly the assets your company currently have, where these assets are located, who are the custodians of these assets, what are the conditions of these assets and how these assets are changing over time, would prompt the company to keep track of details of its fixed assets in order to foster control and accountability for the company’s assets.
This exercise involves;
- Physical identification and standardized classification of assets
- Tagging the assets with barcode labels customized for the company
- Capturing the assets’ information with the use of electronic barcode scanners
The basic information captured include;
- Barcode number
- Asset Description
- Location
- Department/Cost Centre
- Asset Type
- Asset Class
- Serial Number
- Registration Number (for Motor Vehicles)
- Chassis Number (for Motor Vehicles)
- Condition (in percentage and comment)
- And any other required information