Fixed Assets Numbering Policy - CiteHR
Dinesh Divekar
Business Mentor, Consultant And Trainer
Venkatsusi
Accoutant Cum Admin
Tarunaindia
Hr&admin

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Dear Senior, Please sugess me any policy to count fixed assets in manifucturing industry. if any of u can help me than i wold be thankful to u. Regards, Narinderjit Kaur
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Hi
you can do this way
1.Create company code: for Reliance Infocomm Limited code can be- RIL
1.Create Alphabetic codes for assets:for water cooler code may be -WC
for steel almirah code may be-SA
for steel table code may be-ST
for Desktops code may be-DPC
for Laptops code may be-LPT etc
2.Create Deptt Code for deptt:for Production code may be -PRDN
for Office Admn may be -OA
for accounts may be -AC
for finance may be-FA
for Human Resource may be-HR
for MD office may be -MD etc
3.Enter details in register:for SL 01 in register 01 water cooler in HR deptt purchased on 12.01.08 can be coded as RIL/HR/WC/001/12.01.08
4.Onlike accounts ledgers Asset ledgers to be maintened pagewise,Openning Bal(with date)+Purchesed(with date)-Damged/sold on scarp etc= Closing balance of assets(with date)
5.This register has to be maintened by Admin Deptt.
I hope it would benefit to shortout the querry
thnx
tarun
Hi TARUNAINDIA, Thank you for the explanation. If anyone has a separate format for the Fixed Asset Register for a Manufacturing Company, kindly share. Thank you.
Dear Venkat,
To devise codes, you need to have Material Codification Policy. This policy includes codes for Inventory as well as fixed assets. To devise this policy, you need to form Material Codification Committee. They should deliberate on the codes extensively. Codes are devised thereafter. You cannot have codification for fixed assets in isolation.
Thanks,
Dinesh Divekar
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