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Business Tip of the Month

Business Tip
of the Month
For the month of April 2004

Get organized: Tips for keeping track of your computer purchases

Many companies have trouble keeping track of their fixed asset purchases. Ideally major items of furniture, computers, and other equipment should be given individual inventory numbers and tracked separately in the accounting records. But this seldom happens.

The problem is especially bad with computers. A new computer usually arrives in a box with an assortment of computer disks, license agreements, and instruction manuals. The employee opens the box, plugs in the computer, and throws the remaining items in a desk drawer or file cabinet. A few months later, the employee may well have moved to a new job in a new office. At year end, the accounting staff will be trying to locate which computer goes with which invoice. And if there's a computer problem, the technician will be wandering around looking for the operating system disks that came with that particular computer.

If this sounds like your business, don't despair. Follow these simple procedures and you'll eliminate the problems:

 Purchase some full-size plastic envelopes from your office supply store. These come in various colors and have a Velcro or string closure.

Make up a simple data form with space to record an inventory number, a date, and the make, model, and serial number of a computer.

When a new computer is delivered, stick a label with a unique inventory number on the bottom of the computer. Put another label with the same number on the outside of the plastic envelope and write the number on the data form.

Record the date, model, and serial number of the computer on the data form. Add the name of the supplier if known.

Put all the disks, operating manuals, license agreements, and a copy of the data form in the envelope. Store the envelope in a central location.

Give a copy of the data form to your accounting department with the packing slip, if available.

You now have everything organized. The inventory number links the computer to the envelope of supporting materials and to the accounting records. The accountants can prepare their fixed asset records and the computer technician can always track down the correct disks and operating manuals.

 

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