Our e-PRAIS® property record outsourcing services assist clients in maintaining and perpetuating complete and accurate fixed asset accounting records for accounting and insurance purposes.
Inaccurate fixed asset records can cause serious problems for an organization, leading to imprecise financial accounting ledgers and unreliable values for insurance placement. We prepare:
- Updated fixed asset accounting ledgers, which include current-year and accumulated depreciation calculations, current-year additions and disposals, and roll forward analyses by account
- Replacement cost valuations for insurance placement and risk management
Our professionals visit businesses to compile current-year fixed asset activity data by account. We then prepare an updated property record. Alternately, clients supply current-year capital asset activity (additions, disposals, and retirements), which we use to prepare the updated property record. In addition, we perform annual trend analyses to update replacement cost data based on an appropriate cost trend factor.
Each year, our professionals provide property record outsourcing services for hundreds of public- and private-sector clients. Our proprietary e-PRAIS® system’s policies, procedures, and operating effectiveness are in accordance with SOC 1.