What is Enterprise asset management Software?

Enterprise asset management (EAM) refers to the combination of software, systems and services an organization uses to control and optimize its physical, technological and human resources across business units and geographical locations.

What is Fixed Assets?

Fixed Assets, for the purpose of maintaining Fixed Assets Register, means any asset which is listed in Fixed Asset Register kept at the site and includes following:
Plants for WMM, BCC, QUARRY etc.
Machinery including Excavators, compactors, rollers, pavers, tractors etc. Machinery also includes batteries, motors, pumps etc
Trucks, Tempos and Tractors
Vehicles like Car, Scooter, MUV, SUV etc.
Furniture & Fixtures such as Table, chairs, cupboard etc
Office Equipments such as Xerox Machine, Water Cooler, fax machine, tea vending machines, telephone instruments, Cameras etc. used at SITE
Computers and peripherals such as PCs, Laptops, printers, UPSs etc
Items used by staff such as bed (palang), bed sheets, blankets etc.
Items used for SITE Office like Projectors, Computers, TV, Office cabins, Generators etc.

What is Fixed Assets Register (FAR)?

After Store First time ISSUES, an entry is required to be made in Asset Register. This is also called Asset Purchase Booking entry from accounts point of view.
Every site / office shall maintain a Fixed Asset Register containing details of all Fixed Assets situated at that site / office.
Normally such Fixed Asset Register shall be in hard bound register / file form.
Administration Department shall maintain this Register.
The in-charge of the site / office will be overall responsible for maintaining such register and also for physical existence of fixed assets as per the register.
Master Fixed Asset Register shall be maintained at Head Office / Corporate Office
Administration department shall maintain such register and shall be answerable to accounts department.
Normally Master Fixed Asset Register shall be maintained in soft format in computers.
It will be duty of the person maintaining such Master Fixed Asset Register, to give Identification Number when an asset is added to the list and also to arrange for imprint / paint the ID number on such asset. In-charge of the site / office where asset has been added will assist in getting the ID number painted / imprinted on the added asset.
EACH ASSET IS ISSUED FOR INUSE OR IDLE OR SCRAPPED OR SOLD. SO A VALID STATUS OF ASSET IS REQUIRED IN ASSET REGISTER.

What is Asset Transfer Register(ATR) and Asset Movement Form (AMF)?.

When any of the Fixed Asset is transferred from one site to another site, Asset Movement Form (AMF) is to be filled by the Sending Site and to be sent along with the asset to the Receiving Site.
SITE Sending Assets will enter AMF in computer. The AMF is to be printed in triplicate, Original to be sent with the asset moved, Duplicate to be sent to the Administration Executive (Assets).
SITE receiving Asset will get SMS and onscreen Alert on Asset coming.
On Receipt of ASSET receiving SITE has to sign and approve its receipts. On Approval the ASSET is considered transferred, else ASSET is considered INTRANSIT.
Asset Movement Registers is formed.

What is Returnable Asset Register (RAR)?.

In certain cases, items shall be issued on returnable basis, e.g. Tools & Tackles. In such cases it will not be entered in Outward Register. Instead the same should be entered in another Register maintained for the purpose of entering returnable goods.