Case Study

TagMyAssets carried out fixed asset tagging, physical verification and FAR reconciliation for an auto components manufacturer, and set the client up on our verification application to maintain the register in-house afterwards. The company had been managing asset records in Excel, which made it difficult to track sales, disposals and depreciation reliably. After the exercise the register was reconciled to physical assets, depreciation was calculated on a verified base, and asset lifecycle events could be traced to individual tagged assets.

Tagging and verification replace manual spreadsheets with a register built from physical evidence, which simplifies tracking, reporting and reconciliation. The client now maintains the register in-house on the application, so each year’s verification starts from a reconciled base rather than a spreadsheet.