Fixed Asset Management Software

WHAT ARE FIXED ASSETS?
FIXED ASSETS are items which are used by the organization to carry out its daily operations and production purpose. They are tangible as well as intangible in nature. Fixed assets are the most important part of a company’s functionality. All sizes of company from a big large organization to low mid-size use assets and tools for the production of goods and services which they sell in the market. Before the start of production, a company has to invest a high amount for purchasing fixed assets as per its requirement. Fixed assets are bought for long term purpose and have a useful life associated with it.

Examples of Fixed Assets:

Building Plant and Machinery
Patents
Trademark
Computers
Land

HOW TO MAINTAIN FIXED ASSETS?

Maintaining fixed assets is a challenge most of the organization faces. The most important factor to look out for is scheduled an annual check on a regular basis, thus maintaining assets in a healthy way so they can perform at their optimal best and add value to an organization.

Checklist for maintaining assets:

Timely Inspection
Damage protection
Schedule Annual Maintenance
Repair assets
Replace in case of damage
Third party verification
Valuation on a timely basis
Getting Insurance coverage as the cost involved is high
Third-party Certification
Extended warranty
Thursday Regular audit
Follow Safety rules
Correct usage as instructed