Counting Problem

Problem in Counting and Controlling on Loss of Fixed Asset

 
What is often found by staff or officers in overseeing assets is a problem in asset counting from long experiences.

 

In the management of fixed assets, counting of assets is a main problem as it is difficult to use data in an Excel Sheet to count actual existing assets.

The first problem is that the name of fixed asset recorded in Excel is inconsistent with what it is called inside the company. Thus, the problem occurs when the list in excel is taken for counting and inquiring with the overseer of the fixed asset, and they cannot know which type of asset it is since the name in excel is inconsistent with the name used for the internal call, resulting in frequent confusion. Sometimes, it must be debited into disposal (even though that asset is existent) and must be abandoned for newly purchased orders or also, that asset must be renamed (resulting in waste of time).

The second problem is due to no submission of the report of Fixed Assets being available in the system or in the company to the original affiliation (Treasury Management) for a check every month. Therefore, when counting at the end of the year, it will be difficult for checking in detail and it may lack of accuracy.

The control and management of that asset and not just control in the purchasing procedure, but also the process of counting assets, is a process showing the efficiency of the Accounting Department, Admin Department and all staff. The Assets Checking Report will indicate the assets management in the company for presentation to the Management. It is not just an expression of duty, but also an indication of professionalism in management using an effective tool as an aid.