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Method and apparatus for tracking fixed assets

  • US 20030167216A1
  • Filed: 03/01/2002
  • Published: 09/04/2003
  • Est. Priority Date: 03/01/2002
  • Status: Abandoned Application
First Claim
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1. A method of tracking the location of capitalized fixed assets for tax and/or insurance reporting purposes, said method comprising the steps of:

  • (1) detecting when a capitalized fix asset is involved in a transaction;

    (2) responsive to such a detection in step (1), running data for said asset through a plurality of queries, each query designed to determine if said asset meets a set of criteria indicative of a category of how a location of said asset may be determined;

    (3) if, in step (2), said asset meets said set of criteria corresponding to one of said queries, running data corresponding to said asset through an audit customized to said corresponding category to determine a location of said asset;

    (4) if, in step (3) a location is determined, assigning said determined location to said asset for tax and/or insurance reporting purposes;

    (5) if, in step (3), a location is not determined issuing an error notification; and

    (6) if, in step (2), if said data for said asset does not meet said criteria of any of queries, issuing an error notification.

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