Cash and Carry Chain Fixed Asset Count
An international brand of warehouse clubs, also called cash and carries, selling food and non-food products, required the support of RGIS. The food section always includes a fresh fish section, a wine section, fresh meat and butchery department, and refrigerated aisles. The non-food area includes clothing, DIY, office supplies, electrical items, computing, and seasonal goods such as garden furniture.
REQUIREMENTS
A cash and carry chain needed a solution to complete fixed asset inventories with accounting reconciliation, so required RGIS to provide the following:
- Complete counts in 26 cash and carry stores
- Count all fixed assets in stores
- Check assets against existing asset register
- Provide any variances found for account reconciliation
SOLUTION
A cash and carry chain partnered with RGIS to complete the store fixed asset reconciliation project, and RGIS provided the following:
- Scheduled six experienced RGIS auditors
- Split auditors into teams of three per cash and carry store
- Counted fixed assets within each store against asset register provided by the customer
- Identified any variances to the existing asset register and sent reconciliation reports to the customer
RESULTS
A cash and carry chain found by outsourcing the store fixed asset reconciliation project to RGIS, the following results were achieved:
- All fixed assets were accounted for
- Any variances were reported and the reconciliation sent to the customer
- The customer could now accurately identify any unused assets that could be distributed to other stores