Asset Register in UAE
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About Asset Register
An asset register is used to identify the fixed assets of a business or an organization. They are used to record vital information about the property such as the date of purchase, product information, ownership cost, installation cost, estimated life, resale value, annual maintenance cost, warranty issued, cost of insuring and usage. It is useful for filing tax, management and controlling assets.
Assets which can be recoded are tangible resources such as land, buildings, office equipments, manufacturing equipments, motor vehicles, trucks and computer software applications. It also includes intangible resources such as trademarks, brand names, patents, copyrights etc. Maintaining a through record of assets help industrial owners keep track of their goods and ensure that they are fully functional. This is not only easier for effective business management but also for easier accounting. It helps auditors keep a check of their client’s resources periodically thereby preventing theft. Asset registers help industrial owners identify their assets and perform physical audits periodically. It also helps them pay their taxes and conduct periodic maintenance operations on time.
There are two methods of organizing asset registers which are physical and digital asset recording. Physical recording is obsolete as it involves the use paper, leaf binders etc. Digital recording is widely practiced in today’s world as it involves recording assets using computer software such as spread sheets, word pads etc. The Data is stored in a database which entitles access to authorized users. Some popular locations to get in touch with the best companies which provide asset registering services in UAE are Al Hawai tower and Sheik Zayed road in Dubai.