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The Fixed Assets module interrelates with both the Accounts Payable and General Ledger modules. At year end there is a particular focus on ensuring that the register is up to date and that assets have been physically verified.

Tasks required

Final date for completion

Distribution of Fixed Asset Register as at 30 Jun

Fri 5 Jul

N/A

Review Fixed Asset Register

Fri 9 Aug

 

Physically verify assets

Fri 9 Aug

 

Notify FA helpdesk of disposals/amendments

Fri 9 Aug

 

Return FA register to Fixed Assets helpdesk

Fri 9 Aug  

Ensure that July not tracked additions are included on register - refer FA exception spreadsheet

Wed 21 Aug

 

Module closes at 5pm

Fri 23 Aug

 

 


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In case of queries please contact the Fixed Asset Helpdesk
Tel. 66780 or email
UFS_FA@admin.cam.ac.uk

 


Reviewing the Fixed Asset Register

The Fixed Asset Register will be sent out by Central and Research Accounting for the period up to the end of June once the FA module for June is closed. Particular attention should be paid to:

  • Ensuring that all assets listed can be physically verified

  • Nil value assets – are these still in existence and in use?

  • Responsible employees – new starters /leavers?

  • Department locations– any relocations/ expansions?

  • Tag numbers – are they recorded and correct?

  • Asset additions and disposals during the 11 months to June

  • Appropriate individual asset descriptions – e.g. notas attached”

Confirmation of the fixed asset return should be sent to Central and Research Accounting by 9 August with any amendments detailed.


Update the Fixed Asset module

Departmental users are able to update the following details on the Fixed Asset module:

  • Asset descriptions
  • Tag numbers
  • Serial numbers, model numbers
  • Asset locations
  • Responsible employee

July Accounts Payable invoices not tracked as an asset

Review the exceptions spreadsheet sent out by Central and Research Accounting on 15 August for items purchased in July over £5,000, and ensure all asset purchases for July are reflected.

Notify the Fixed Asset helpdesk regarding any missed assets before 21 August.


Central and Research Accounting

The deadline for processing all amendments to the FA register by Central and Research Accounting is 23 August.

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