Resources

Maintaining a small amount of incidental resources is fairly easy. You might not need to do anything if they are all expendable, if they have been depreciated down to nil value, or if their value is below a set value (e.g. $1,000, $5,000) and the accountant doesn't need to list them as an asset.

A larger inventory, however, is quite different. Some organizations have millions of dollars worth of assets that are not listed in their asset registers. Some even lose track of blocks of land.

You will need a computerized inventory that works, and that matches the size and sophistication of your organization. Depending on your needs, it should have systems for:

1. Scheduling usage.
2. Procedures for damage (e.g. accidents, vandalism, etc)
3. Legal liability relating to assets. (E.g. what if someone enters a property you have abandoned and has an accident? What if an accident occurs because you failed to do proper maintenance?)
4. Procedures for theft (including theft by employees).
5. A policy and budget for periodical maintenance and inspection (which will probably state that the item should be replaced when maintenance costs exceed its value).
6. Periodic review of assets (What should be kept, sold, or replaced?)
7. Valuations (What is depreciating or appreciating in value? And what is the value of any intellectual property? What is the total net worth of the company?)
8. Taxation matters relating to assets (deductions, depreciation, capital gains tax, land tax, etc.)

This becomes even more complex when assets are spread over several locations.

In many matters you should be conferring with a qualified accountant.