Tifco will maintain a detailed record of the hotels fixed assets by recording depreciation and current asset values, in addition to providing a facility to evaluate the remaining useful life of the asset. Our management of the fixed asset register will include:
- Maintain a register of all assets and their locations
- Track expenses incurred for any asset
- Calculate depreciation in accordance with company policy
- Track maintenance history for each asset
- Calculate estimates of the remaining useful life of the asset
- Provide reports on disposals, revaluations and acquisitions
- Reconcile register to the balance held on the general ledger