fixed asset register

Items and information captured in a fixed asset register

Fixed assets are longer term investments which provide value to a business and are depreciated over a period of years. Organisations have the flexibility to capture as little or as much detail required for each asset. Storing detailed asset information and financial history provides valuable data to enable more informed decision making.

Typical information captured on a fixed asset register includes a unique identifier code, asset name, description, purchase and capitalisation dates, purchase cost, department, cost centre, residual value and asset life and depreciation rule.

Examples of fixed assets

IT equipment such as computers, laptops, printers and servers

Furniture and fittings

Property, plant and equipment (PPE)

Office equipment such as photocopiers, scanners and telephones

Land and estates

Fleet i.e. cars and vans

fixed asset register

The benefits of creating and maintaining a fixed asset register

  • Provides complete information on asset status, history and location for audit trail purposes.

  • Assists in complying with statutory requirements such as IFRS, GAAP and SOX.

  • Ensures that the balance sheet reflects an accurate fixed asset value.

  • Facilitates a quick and easy asset audit and verification process.

  • Simplifies month and year-end processes when asset data is up to date.

  • Improves asset utilisation across the business and avoids the duplication of asset purchases.

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Fixed Asset Management

Learn more about how our fixed asset management software can help you to meet the audit and depreciation requirements of both the private and public sector.

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