Question 1

What does building a fixed asset register cost?

Accepted Answer

It is priced as part of our comprehensive tagging tier, KSh 150 per asset excluding VAT, which includes the physical tagging, data capture and full accounting-structured register in one project. If your assets are already tagged and counted, ask us for a register-only quote based on record count and complexity.

Question 2

Can you fix a register we already have instead of starting again?

Accepted Answer

Yes, and this is common. We assess your existing register against your ledger and physical assets, then correct duplicates, missing costs and disposed items still on the books, rather than rebuilding everything from zero where the underlying data is sound.

Question 3

Why doesn't a spreadsheet of assets count as a proper register?

Accepted Answer

Because a spreadsheet lists items; a register carries accounting fields, acquisition cost, depreciation method, accumulated depreciation, net book value, that must tie back to your general ledger and support your financial statements. A list without those fields can't be audited or reconciled.

Question 4

How do you handle assets with no known acquisition cost?

Accepted Answer

We flag them clearly as estimated or unknown rather than inventing a figure, and recommend a fair-value assessment where your accounting policy allows one. A register that quietly guesses at cost is worse than one that honestly marks the gap.

Question 5

Do you calculate depreciation for us?

Accepted Answer

We build the register with the correct method, rate and accumulated depreciation fields structured to your policy, but the depreciation policy itself, rates, useful lives, componentisation, is a decision for your finance team or auditors, not for us to set independently.

Question 6

Can the register integrate with our existing accounting or ERP system?

Accepted Answer

We deliver it in your system's import format wherever practical, CSV, Excel or a system-specific template, so your team loads it rather than re-keying it. Direct live integration depends on your specific software and is assessed project by project.

Question 7

What if our register doesn't reconcile to the general ledger at all?

Accepted Answer

That's a common starting point, not a barrier. We work from both directions, physical count outward, and ledger balance inward, to identify exactly where and why the two diverge, then document that gap rather than forcing an artificial match.

Question 8

How long does register development take?

Accepted Answer

It runs alongside the tagging or verification fieldwork it depends on, so timing follows asset count and site access rather than a fixed register-only schedule. We agree a firm timeline once scope is set at the scoping visit, and standard lead times then apply from artwork approval if new tags are also being produced for the project.

Question 9

Is a fixed asset register a legal requirement in Kenya?

Accepted Answer

Public entities reporting under IPSAS and most donor-funded projects are required to maintain one as part of standard financial reporting and audit compliance. Private companies aren't legally compelled to, but auditors will query fixed asset balances that no register supports.

Question 10

When would we not need a full register rebuild?

Accepted Answer

If your existing register already reconciles to the ledger and your last verification found only minor exceptions, a full rebuild is unnecessary cost. A targeted correction of the specific failures found, rather than starting again, is usually the cheaper and faster option.

Field	Purpose
Asset number / tag number	Unique physical identifier linking the record to the item
Description	What the asset is, specific enough to distinguish similar items
Class	IPSAS or IFRS asset category for depreciation and disclosure
Location	Where the asset is held, kept current after moves
Custodian	Individual or department accountable for the asset
Acquisition date	Date placed into service, driving the depreciation start point
Acquisition cost	Original cost, the base for depreciation calculations
Funding source	Relevant for donor-funded or grant-funded assets
Supplier	Origin of the asset, useful for warranty and repeat procurement
Depreciation method and rate	Straight-line or reducing balance, and the applicable rate
Accumulated depreciation	Depreciation charged to date
Net book value	Cost less accumulated depreciation, reported at each period end
Condition	Working, damaged, or awaiting disposal
Disposal date and proceeds	When and how the asset left the register, and what it realised

Fixed asset register development