[email protected]
+92 21 4322582-83

Fixed Assets Management Solution

Fixed Assets Management Solution

It is an accounting process that seeks to track fixed assets for the purpose of financial accounting, preventing maintenance and theft difference. Many organizations face a significant challenge to track the location, quantity, condition, maintenance and depreciation status of their fixed assets. A popular approach to tracking fixed assets utilizes serial numbered Assets Tags, and often through bar codes for accurate reading. Periodically the owner of the assets can take inventory reports through a bar code reader.

Automation of FAMS

The aim of adopting automated fixed assets management technique is to enable the management not only to standardize the recordkeeping of assets but also implement fixed assets accounting procedures to comply increasing financial reporting needs that also best fits the internal administrative requirements

Identification tags

We use barcode enabled identification tags, where machine-readable codes for assets IDs are also printed on tags in addition to eye-readable identification numbers & two options for asset tags to choose from:

Fixed Assets Tracking System

Fixed Assets Tracking System (FATS) is conveniently a next stage to adopting a FAMS, which primarily focuses to add efficiency, accuracy to the tedious process of conducting asset inventory counts and reconciliations on a recurring periodic basis.

How does it work?
  • »  The system works around the feature that asset identification tags bear machine readable barcodes.
  • »  These barcodes are read through line-of-sight devices (handheld smart barcode scanners) while conducting asset verifications.
  • »  FATS compares the data captured with the information held in FAMS and automatically generate reconciliation reports for formal approvals, if required.
  • »  Asset movements gathered and reconciled in FATS are updated in the FAMS by click of a button, while maintaining the audit trail.