Asset tagging is the process of affixing tags or labels to assets to identify each one individually and track data from real-time location to maintenance history. The purpose of Tagging assets is to track the movement of assets from one place to another.

Monitoring of Fixed Assets: Labelling assets with tags to monitor and a keep a track of the physical assets owned by the organization. This acts as a strong foundation for the physical verification of assets during the Audit of financial statements. This also prevents and detect any Asset misrepresentation and misappropriation.

Physical Verification of Assets: Physical count of all fixed assets at periodic intervals to verify actual assets in hand and value and ensure the accuracy of related financial records. PV of assets helps in identifying obsolete, abandoned, and unused assets, control capital expenditure, obtain confirmation letters from the third parties, and support for corrective action on unmatched assets.

 Idle Asset Review: To identify and make available idle, excess, and underutilized equipment to other departments that may need them.

 Helps in presenting accurate financial statements: Physical count of all the items of inventory to cross check the same with the financial record. To accurately maintain the physical inventory and correctly present and disclose it the financial statement, identifying whether the inventory is being valued correctly as per the accounting standards in the financial statements.

We at Sir Jonathan and Company, also provide this service. Our robust quality of Asset Tagging and Verification service gives you the following benefits:

• Our working system makes it easier to track usage, repair, and promotes efficient maintenance actions.
• Saves time on looking for equipment data and history.
• Simplifies precise data collection, to determine which its lifetime stage, evaluate the condition and criticality.
• Because all pieces of equipment are identified and some technologies work remotely, it can help prevents theft.