Services
I. Fixed Asset Register Analysis
The starting point of the assignment is the FAR provided by the client. Since the FAR provided to Tareta
Solutions is on summary level and it needs to be converted into detailed break up to identify the total
asset count. The data after analysis will be used as baseline for physical audit.
II. Tagging labels to assets
Tareta Solutions will carry out the tagging of the various assets.
Establishment and identification of the existing fixed assets.
Assets that cannot be tagged will be marked in the FAR with relevant details.
All assets will tagged with appropriate barcodes
Pictures of the assets will be taken for later reconciliation
III. Physical Verification (Audit)
After tagging of assets the verification process starts. Tareta Solutions scans all such assets using barcode/RF ID scanner/reader and captures
the count of the assets in class and updates the Asset Management System (Software) accordingly. This ensures better tracking of the assets
at a later stage.
The information will then be updated in the Asset Register from Asset Management System and the procedure for implementing assets tagging is
specified below:
The assets will be tagged with the barcode/RFID.
The designated numbers specified on the barcode will be recorded against the particular assets in the Asset Management System and verified
The tags will be affixed on pre-agreed spot on the assets for easy accessibility.
IV. Reconciliation
Post physical verification and tagging, the data captured in the Asset Management System will be provided for sign off. Post sign off, the
asset details recorded in the system will be updated in to an excel sheet for Asset Register Creation. The data will be verified with the
asset register provided by the client to ensure the accuracy of data. The Fixed Assets Verification part will be closed upon the forwarding
of the Final Excel Sheet containing the Details of Assets verified and Tagged
V. Asset depreciation, Asset Register(Both soft and hard copy)
After reconciliation, depreciation calculation is carried out on all the assets. The depreciation applied will be in line with the present
asset register. The soft copy and hard copy will be provided
