An asset register that matches the building

What it does

Fixed Asset Management

Almost every organisation has an asset register that stopped being true years ago. Items were bought and never tagged, moved between offices without a transfer note, written off in the ledger but still sitting in a store. The gap is discovered at audit, and closing it is a scramble. A register that is updated as things actually happen turns verification into a walk with a scanner.

• Asset register with class, cost, acquisition date, location and custodian
• Barcode or QR tagging, with labels printed from the system
• Depreciation runs by class, with the schedule posted to the ledger
• Physical verification by scanning, producing a found, missing and unexpected report
• Transfers between departments, branches and custodians, with acceptance
• Maintenance and service history per asset, including warranty and contract cover
• Revaluation and impairment records
• Insurance schedules generated from the register at current values
• Disposal workflow: request, approval, method, proceeds and gain or loss
• Componentised assets — a vehicle, its engine and its trailer tracked separately
• Capital work in progress until commissioning

Tanzania

What Tanzanian finance and audit ask for

• TRA depreciation classes — tax depreciation computed on the classes and rates in the Income Tax Act, kept separate from book depreciation.
• Board of survey — verification, condition assessment and disposal recommendation records for public bodies and parastatals.
• Audit trail on disposal — who approved, on what basis, at what value, and what was received.
• Insurance valuation — schedules produced from the live register instead of last year's spreadsheet.
• Custodian accountability — every asset sits with a named person, and transfers require acceptance.