Fixed Asset Custody (Assignment) Process
Always know who holds which asset — manage custody and return systematically.
What problem does it solve?
Asset custody is tracked in spreadsheets and signed forms; returns and transfers go unrecorded, and inventory counts reveal missing assets. The accounting record and physical custody don't match.
How does the solution work?
Conforcus fixed-asset custody manages assignment, transfer and return of assets to employees, tied to the SAP Asset Accounting module. The custody chain is recorded, aligning physical inventory with accounting.
What changes in practice?
The solution works on the asset record in SAP Asset Accounting. When an asset is handed to an employee, the custody assignment is made in the system; when it passes to another employee a transfer is recorded, and when it comes back a return. Each movement is held against both the asset and the employee concerned, so the custody chain can be followed from start to finish. The custody form is produced from the system, and the custody report shows who holds which asset and which assets an employee holds. As movements are tied to the asset record, custody data no longer sits in a separate list.
In daily work, spreadsheets and scattered signed forms give way to a single record. Administration enters the movement when handing over or taking back an asset, and finance sees the same information together with the asset record. Transfers and returns are recorded in the same way, so changes of holder remain traceable. Before a physical count the custody report is run and the actual situation is compared with it; where there is a difference, the last custody movement is the starting point for tracing the asset. In an audit, the question of who holds an asset is answered from the system record.
Benefits
- Always clear who holds which asset
- Full record of assignment, transfer and return
- Inventory matches the books, fewer lost assets
Where it sits in SAP
Integrated with SAP Asset Accounting (AA); manages asset-to-employee assignment, transfer and return movements with custody forms/reports. Deployed across multiple sectors.
Who it is for: Finance, Admin, Asset & Audit
Frequently asked questions
Where is custody information kept in SAP, and how does it relate to the asset record?
Custody information is kept against the asset record in SAP Asset Accounting (AA). Assignment, transfer and return are recorded as separate movements together with the employee concerned. This shows, from the same record, who holds the asset today and who held it before.
How does the process work during physical counts and staff changes?
For a count, the custody report is run per employee and the actual situation is compared with the system record, with differences investigated through the custody movements. When an employee changes role or leaves, the assets they hold are visible in the report and are recorded through transfer or return movements. The custody form is produced from the system.
Is SAP Asset Accounting a prerequisite, and which assets are in scope?
The solution is integrated with SAP Asset Accounting (AA), so the module must be in use and the assets to be assigned must be recorded there. Which asset groups are brought into custody tracking is decided at the start of implementation. Because the custody process runs on the asset record, physical counts and the accounting record are aligned on the same data.