How To Track Business Owned Physical Assets?

A fixed asset is an asset generating a lasting economic benefit for the company. The fixed assets appear in the company’s balance sheet. Each asset represents a heritage value, which can, however, be isolated from the activity. As a result, it can be reliably assessed at any point in its life cycle.

Knowing the exact situation of its fixed assets is not a question of comfort for a company. This is most often an obligation, imposed by an increasingly restrictive legal and regulatory framework. Good management of fixed assets can nevertheless substantially improve the profitability of the company.

For correct management of the fixed assets present in a company, it is important that, in addition to narrowly managing the equipment, in a single system there is information about finances (the cost of spare parts and repairs, the history of committed expenses, and their optimization, etc.), supplies, document flow, and even personnel.

It is necessary to create such a unified information field and provide complete reporting for making effective decisions throughout the entire life cycle of the equipment.

The inventory of fixed assets by CAC, an essential tool for the reliability of the accounts

Carrying out an inventory of fixed assets using proven methodologies and cutting-edge technical tools is still the best way to establish an inventory of the company’s fixed assets.

CAC, a firm specializing in fixed asset management, is the ideal partner for carrying out your inventory and setting up all your fixed asset management tools.

Teams specializing in fixed asset inventories

An inventory is always particularly sensitive from an accounting and regulatory standpoint. Carried out internally, it slows down production and requires relying on employees who are not specifically trained for this task.

This represents a risk for the reliability of the inventory, but also a decrease in the routine activity of the company. But, the firm CAC, entrusts this inventory and fixed asset management task to its teams of experts. This ensures optimal performance and reliability of the process.

The database created during the inventory is reconciled with the company’s accounting base. This makes it possible to identify any wording or inventory errors and to reorganize the accounting balance sheet according to the tangible inventory.

By this step, the inventory of fixed assets becomes more reliable, thanks to a perfect match between the inventory base and the accounting base.

An inventory to meet all regulatory constraints

The reconciliation makes it possible to identify fixed assets that have experienced theft, breakdown, or destruction, and to establish corresponding exit slips. This procedure enables CAC to bring the client company and its activity into line with all national and international regulations, as well as with audit procedures.

Long-term management of your company’s fixed assets

The use of IT tools and databases throughout the inventory process enables CAC’s teams to make the accounting base more reliable but also to improve the company’s internal inventory base. This will allow, in the long term, to optimize the depreciation of the various fixed assets, or to better prepare the next inventories.

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