Recently myself and another senior fixed asset consultant went on site for a discovery meeting at a prospects who are having issues with controlling their fixed assets. Some were tagged, some were not. Those that are/were tagged had different types/formats of tag’s, etc. They have about six (6) locations throughout the United States and have their fixed asset data in about 8 different Sage FAS companies — each one set up a little different.
Their computer equipment assets that were getting ready to be disposed of. However, some had tags, some didn’t… not all were recorded to accounting — and if/when they were… they didn’t always have a unique asset id number to use.
After about a two (2) hour discussion about their upcoming project and what the best approach would be, my associate and I walked out the front door… and a TON of their fixed assets were too! Guess what, they didn’t know.
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