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Ensure that the "Track as Asset" box in the AP module is ticked for all fixed assets purchases in excess of £5,000. This is essential. Notify the Fixed Asset Helpdesk of any assets not tracked.

Notify the Fixed Assets Helpdesk of any fixed asset disposals during the month.

Run monthly (after the 5th working day):

  • the Departmental Fixed Asset Report and review for accuracy.
  • the Asset Additions (UFS) report to check new additions during that time

See Chapter 10 - Month End Procedures

Departmental Fixed Asset report

Provides information pertaining to all of a department's non-retired assets e.g.

  • the Cost, Depreciation and Net Book Value (as of the last Mass Additions process run);
  • the Vendor;
  • the Purchase Order;
  • the Invoice Number.

The 'Locations' version of the report additionally gives the locations of each asset (with corresponding responsible officer) and the number of units at each location and can be a useful security check.

Asset Additions (UFS) report

This clear and concise report identifies assets purchased in a department during any specified time period (not just a year). It displays:

  • asset number and description
  • date taken into service - normally the purchase date
  • original cost.

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