Assets Management System
Policies and procedures of the operation in fixed assets management system
First: Data Restriction & Collection
First we should collect the data of the fixed asset which the institution management needs to purchase by returning back to the available data before of the fixed management assets system as of technical specifications materials quality, sizes, prices, resources…etc.Second: The Purchase Order
institution management needs in this stage to compare the prices of the fixed asset by the entered data before of similar kinds as of prices, dates of purchasing, data of the supplier which had been dealing with before in purchasing similar assets to choose the best offer & make the purchase order, the purchase order should be attached with a copy of the asset description from the assets system if there is then to be signed from the responsible managements then implement the purchase order.Third: Fixed Asset Receiving
When the fixed asset has been reached to the receiving area of the institution, the receiving clerk (or the fixed assets responsible clerk) should check the technical specifications of the asset & compare it with the issued purchase order.A copy of receiving form should be sent to assets management attached with a copy to fixed assets manager to review it & compare it with the actual to enter the date on assets management system, extract a barcode & stick it on the asset, take into account the texture of the asset & if the barcode can be stuck on it or not before direct it to the department that requested it.
There are two main cases in fixed asset moving:
First case:
asset moving to use it temporarily in particular place & return it back to its main place; in this case there will not be any special procedure or amendment in assets management system only assets manager will follow up this case & be sure that the asset returned back to its place by making a file to record in it the asset name, barcode, the asset main place, the place will be temporarily moved to it, date of moving, reason of moving & the date that the asset returned back to its main place.Second case:
asset moving permanently; assets manager should know the old & new place of the asset to amend it on assets management system by fill asset transfer form by using asset barcode not asset name as that all asset data can be known by its barcode then it should be signed by the responsible managements at last a copy of transfer form should be received by assets management to can continue its work by transferring the asset from its old place to the new one.Fixed Asset Scraping:
First there should be a technical report that this asset is invalid to use it again & when that approved a scraping assets form should be filled and signed from the responsible managements at last a copy from it should be received by assets management in the institution that those assets are out of order & should be scraped.Important Duties During the Financial Year
- 1- To print a monthly report contains all received & entered assets on fixed assets management system.
- 2- To print a monthly report contains all scraped assets during the month & be sure that it’s not operated.
- 3- To print a monthly report contains the assets entered by mistake on assets management system to know the reason of this mistake & avoid it on the future & to be sure if the clerk deleted by mistake a fixed asset from the system.
- 4- The fixed assets clerk to make a random inventory for one or two areas weakly to watch the assets and be sure that it’s matching its place on assets management system.
- 5- To deliver a new copy of assets management system to every department head after all barcoding works to keep it to help him in using all transfer, scraping & temporarily moving forms.