• Calculate depreciation and upload; input the depreciation codes and then post to the relevant Business ERP
• Check to ensure it agrees with local output and have it signed off.
• Reconcile year-to-date depreciation on the relevant Business ERPs and GL
b. Functional Assets
• Confirm the amount to be accrued by contract with Treasury
• Match actual payment to accrued amount and write-back any over or under accrual to the ledger
• Reconcile the account and highlight any overpayment or double payment being done on each contract.
• Ensure Capex raised is within approved budget.
• Do commercial case for all capexes that requires it
• Send for Approval by two Exco members and the CEO.
• Track all expenditure for each project by using the Capex unique number for all payments within the Ledger.
• Prompt for overspent where it’s exceeding approved overspend percentages
• Initiate and extract all expenditure on all completed projects to project manager for capitalisation process.
• Post to the ledger capitalised projects by class of asset. Then do the same in the relevant Business ERP by detail asset item and by class of asset. Ensure all journals are duly approved
• Extract from Business ERPs assets identified to be disposed /write off and obtain permission to dispose off asset
• Completer asset disposal from the relevant Business ERP into P/L on disposal with the cash proceeds.
e. Physical Verification of Assets
• Classify and register all Business Assets by Location
• Identify assets to register records and classify if existing or not including red tagged assets, redundant assets, obsolete assets etc
• Investigate and initiate process for obsolete assets to be disposed off or written off.