Fixed asset count: from the asset register to the shop floor

Fixed assets are the stock that nobody counts. The register says a forklift, a generator and fifty laptops exist, while the site may tell a different story: some have moved, some have sat idle for years, and some are simply gone. When head office audits, it asks two questions: where is it, and does it still work? A fixed asset count exists to answer both.

Start from the register, not from the site

Export the asset register first, with asset number, name, model and serial number, location, responsible person, purchase date, original value and status. Then do three things:

• find duplicates and vague entries such as "equipment" or "office items", and ask finance what they really are;
• fill in missing locations and responsible persons, even if only as "to be confirmed";
• group the list by location and responsible person, which gives you the counting route.

The tidier the register, the easier the site work. Entries such as "a batch" or "several" should be split into single items first. Also agree the scope with finance. Some companies keep low-value tools and office items outside the asset register, so say clearly whether this count covers only registered assets or those items as well.

Prepare count sheets in walking order

Prepare one sheet per location, with rooms or areas in the order a person would actually walk them. Columns: asset number, name, serial number, location in the books, found or not, condition, tag present, photo number and notes. Leave a few blank lines at the end of each location for items that are on site but not in the register. Print the serial numbers already in the register on the sheet, so counters tick them off instead of copying them out, which is faster and less error-prone.

On site: match the serial number, not the name

1. When you find the item, check the serial number or model on the nameplate against the register. Many machines share a name, and only the serial number is unique.
2. Photograph the item with its nameplate and tag in the frame.
3. Record the real location, the user and the condition: working, damaged, idle or under repair.
4. For items found but not in the register, record and photograph them now, and attach a permanent tag once the register question is settled.
5. For items in the register but not found, write down the last known location and person, check transfer records and look at other sites. Reach no conclusion until you have done all three.

Do not forget assets in people's hands: laptops, phones, company cars, and tools taken home or to a site. Ask the user to bring the item, or to send a photo of the serial number, and note the date. For vehicles, record the plate and the odometer reading.

Sort the results into four groups

After counting, sort the results into four groups: found and matching; found but with differences (location, user or condition); not found; and found but not in the register.

An invented example: the register lists 320 assets. The count finds 301 matching, 9 with a different location or user and 10 not found, plus 7 items that were not in the register at all. The first three groups add up to 320, which agrees with the register, and the fourth group is new.

What to do with each group

• Matching: update the last count date.
• Differences: update location and responsible person through the normal transfer paperwork, rather than editing the register directly.
• Not found: investigate for a set period, say 30 days, checking transfer, loan, repair and disposal records. Then put a recommendation to management and finance, because a write-off is their decision.
• Unrecorded: trace the purchase papers and let finance decide whether to add the item to the register.

Idle equipment deserves a list of its own. It takes up space and still depreciates on the books while creating no value. Whether to sell it, move it to another department or scrap it is for management to decide.

In short

An asset count brings the register and the site back into agreement. UzWarehouse registers equipment, vehicles and office assets one by one, adds barcode labels and photos, records location and condition, and matches everything with your asset register to find missing, idle and unrecorded items.