Fixed assets management & system policies by barcode
First Phase: The Specialized team throughout this phase count all the fixed
assets and operations supplies in every place or area in the institution and
this is on the basis of many standards & criteria through the
specifications and the complete data of the assets from the actual and from
where its located them into main groups then sub groups and all of these are
recorded by a specialized program for the company in Fixed Assets. The Country
of Origin, the picture, production date, capacity, code, color,…..etc are
recorded in that program. The specialized team performs the bar code, giving the
groups whether the main or sub groups of the assets a code number, through this
the data is converted into the bar code devices through a specialized program.
Then it is printed and sticked onto all the institution’s assets. Second Phase: When the above step is completed & finished, the
statements of the assets and the inventory are printed which through it the
organization receives them including the following data which helps in &
facilitates the inventory, handover, control and maintaining the assets later:- Detailed identification of the location of the assets
& their location within the institution. Integrated Description of each asset through (
dimension-color-capacity- mark-country of origin- manufacturing date……etc). Electronic
original picture that confirms with the original one in the handover date. The records
will also include all the S.O.E equipments with all its numbers and integrated
description. Third Phase: This phase consists of giving all the reports, software related
to the above to your company which includes the following: Training the institution staff on the program and how to
perform the Assets Management works through it. Inventories & handovers approved and signed by the
institution management or who are authorized to sign on all the assets. Records of assets & operating equipment programs that
includes all the data & integrated description and the codes related to all
the assets as a database that will be used in the yearly inventory that will be
done in the coming years adding to that, the control & maintaining the
assets and using it in calculating the depreciation, exclusions & additions
which will complete the assets which doesn’t make any space for wasting or
misuse these assets. Technical &
Engineering final report including all the technical remarks that resulted from
the operations plus the general recommendations for keeping the assets and the
procedures that should be followed by the management ( activation management
programs from the first operation day- opening cards for all equipment-
adjusting the depreciation rates………etc). Assets
Management System Policies and procedures of the operation in fixed assets
management system Fixed Asset Purchasing *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. Fixed Asset Moving 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.