Review to disposal

Investigate asset findings, review the valuation and record an approved disposal with its accounting outcome.

Step by step

Physical inventory Fixed Asset Accountant

Preserve expected assignments at count start, collect scoped observations and investigate discrepancies. An unregistered item may have no asset reference until reviewed intake; a missing item is never automatically written off.
- Updates Physical inventories, Physical inventory items, Maintenance logs
Impairment and revaluation Controller / CFO

Independently review valuation evidence using the correct asset-group and accounting-framework policy. Do not substitute a generic carrying-value comparison for that policy; preserve adjustments and exact GL acknowledgments.
- Updates Asset impairments, Revaluation adjustments, Asset books
ApprovalA person approves before the work moves on.
Disposal and retirement Controller / CFO

Approve the current disposal or retirement proposal independently. Retain proceeds, carrying-value basis and linked journal; apply financial completion only after confirmed posting and prevent conflicting lifecycle operations.
- Updates Asset disposals, Asset retirements, Fixed assets, Asset movements
ApprovalA person approves before the work moves on.
Tax and audit reporting Tax Accountant

Reconcile workpapers to the reviewed tax books and asset roll-forward. Export the retained version; record filing only with external acceptance evidence. Keep prior snapshots when a return or book is corrected.
- Updates Form 4562snapshots, Book schedules, Asset movements

What Fixed Asset Management enforces at each step.

Use the reviewed accounting framework and asset-group assessment before proposing an impairment or revaluation.
Require independent approval of a disposal and retain proceeds, carrying value and the linked journal.
Prevent conflicting transfers, depreciation and disposal effects while an accounting outcome remains unresolved.

Fixed Asset Accountant: Fixed Asset Accountant works within the record, field and action scope below.
Controller / CFO: Controller / CFO works within the record, field and action scope below.
Tax Accountant: Tax Accountant works within the record, field and action scope below.

Start free, then use Proto to change fields, steps and approvals before your team goes live.