Tracing assets is a crucial aspect of every organization, irrespective of size or whether they are Tangible/Intangible Assets. Fixed assets are defined as ‘permanent objects that a business uses internally that include but is not limited to computers, tools, software, or other office tools.

While employees may use a specific set of equipment, the asset belongs to the organization and must be given back to them. So, without an accurate technique of keeping track of these assets, it would be very easy for an organization to lose count of them. Fixed asset management is the process of tracking and managing an organization’s physical assets and equipment.

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