Fixed Assets Management & Verification

Simply provide your asset additions and deletion/sales activities for the period and we take care of the rest.

fixed-assets-management-and-verification

Tracking assets is an important concern of every company, regardless of size. Most companies struggle to accurately track their fixed assets; it’s an important aspect and concern of every company of any size. Many organizations face a significant challenge to track the location, quantity, condition, and maintenance and depreciation status of their fixed assets. The challenge comes when a company has to track everything – its condition, location, quantity, maintenance, and depreciation status while maintaining focus on growth and its business cores.

KGMC will assume your fixed asset duties, allowing you to focus on critical or strategic tasks. We can apply any tracking approach that would best fit your business requirements or integrate with your current processes.

We assumes complete responsibility of the organization fixed assets cycle from acquire to retire, this lifecycle includes

  • Fixed assets accounting and reconciliation.
  • Maintaining supporting documents related to assets acquired/disposed off.
  • Assets maintenance (tagging, physical verification etc.)
  • Maintenance of fixed assets register.
  • MIS/reporting.

The scope of our fixed assets accounting service includes:

  • Data Conversion - we clean up and organize your existing fixed asset data
  • Reporting - we generate depreciation schedules, fixed asset registers and reports you need for book, state, and tax purposes plus additional custom report upon request
  • Reconcile and Update - we provide journal entries for general ledger posting and reconcile everything back to your financials
  • Year-End Support - get year-end reports for audit support including roll forward, and other supporting documentation for tax purposes
  • Bar coding, Tagging & Physical verification – We can execute physical verification, bar coding, tagging etc. of assets & provide discrepancy report
  • Ongoing Maintenance - we provide the tools and processes for tracking new fixed assets and disposals going forward

Our team takes on the role as your fixed asset manager on a monthly or quarterly basis depending on your needs. Simply provide your asset additions and deletion/sales activities for the period and we take care of the rest.

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