Fixed Assets Management and Verificaiton Services

Posted @ 12/13/2017 1:20:20 AM by admin Under( Fixed assets verification)


AAA helps its clients by providing end-to-end Fixed Asset Management which includes various stages such as –

 

•Building updated FAR
•Physical Verification Pan-India
•Reconciliation with FAR
•FAR update and Reporting
 
 

This cyclical process is achieved by experienced team at AAA, by differentiating from other such providers in following ways –

-          RTVR™ - Real Time Verification and Reconciliation

-          Execution of all activities before promised timelines

-          ERP enabled Fixed Assest Register (FAR) iterations.

-          Capitalization of asssets

-          Mapping of Invoices

-          Field team presence in all states of India – All associates contracted with AAA, not outsourced.

-          Experience of executed multiple projects over last 20 years

-          Metal Tags, Polyester tags, RFID’s

-          App based Physical verification – SaaS model

-          Web based Application modeled specific to clients needs

-          Migration of FAR into ERP

 

AAA has executed asset management for various sectors of the Industry. Experience gained from repeated execution of our process has helped multiple levels of feedback, from out Pan-India field team as well as our clients. This has led to frequent tweaking and modifications into our operations

End result is a completely smoothened out process of entire Physical verivicaiton and Fixed asset Management cycle making AAA a comprehensive Fixed Asset Life Cycle service provider covering all the aspects of the cycle of Fixed assets for our clients.

 

Various activities executed in different phases of asset verification cycle are as follows –

Stage 1 - Pre Verification

•          Client discussion

•          FAR updation

•          Tag format and type determination

•          Timelines and expectations

•          Receivables

Stage 2 - Backend Operations

•          Mapping of Invoice

•          Capitalization of assets

•          Depreciation accounting

•          Passing accounting entries

•          Migration to EPR

•          Real Time Data feeding in parallel to Physical verification

•          MIS reporting

•          Communication with client Net-work

•          Flagging any gaps and lags

Stage 3 - Field Activity

•          Physical Verification of Assets

•          Application based verification

•          Tagging

•          Sign-off from client representative

•          Asset photography

•          Determination of working condition

•          Locating additional and missing assets vis-a-vis FAR

•          Reporting to Back end

•          Smooth coordination and timely response

Stage 4 - Report and Reconciliation

•          Reconciliation of Verified data with FAR

•          Reporting of gaps found - Additional/Missing/Damaged assets

•          Accounting entries

•          Providing additional tags if required

•          Certificate signed by Chartered Accountant for statutory purposes and auditors

•          Any follow up activity for additions of assets subsequent to closing of report 

 


 






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