Fixed asset management Process

Fixed Asset Function

Managing long-term assets through acquisition, maintenance, valuation (depreciation), and disposal.

Asset Acquisition Activity

The process of purchasing long-term assets for the business.

Asset Maintenance Activity

Keeping assets in working order through repairs and updates.

Asset Valuation Activity

Determining the current worth of assets, often involving depreciation

Asset Disposal Activity

The process of retiring, selling, or trading in an asset at the end of its useful life.

Fixed Asset Inputs (Purchase)

Supplier invoice, Purchase order, and Receiving report

Fixed Asset Change Form (Input)

Documents an asset's transfer to a new location, its sale, trade, or retirement.

Repair and Maintenance Form (input)

A notification used to update both expense accounts and the specific asset record.

Fixed Asset Register (Output)

A master list containing asset ID numbers and their current physical locations.

Depreciation Register (Output)

Tracks periodic depreciation expenses and total accumulated depreciation for each asset.

Retired Asset Report (Output)

A specific document reporting on the disposal or retirement of fixed assets.

Repair and Maintenance Form (output)

Updating current period/historical expenses

What is another output?

Financial statement information