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Property Card Instruction

This document provides instructions for completing a Property Card to record information about an organization's fixed assets. The Property Card is used to document details of acquired assets like description, assigned identification number, date, and source document. It also tracks the asset's quantity on hand and any transfers or disposals. A separate Property Card is maintained for each class of fixed asset. Transactions must be promptly recorded from source documents, and an annual inventory reconciles physical assets with property card quantities.

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Chrystel Jade Balisacan Segundo
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3K views1 page

Property Card Instruction

This document provides instructions for completing a Property Card to record information about an organization's fixed assets. The Property Card is used to document details of acquired assets like description, assigned identification number, date, and source document. It also tracks the asset's quantity on hand and any transfers or disposals. A separate Property Card is maintained for each class of fixed asset. Transactions must be promptly recorded from source documents, and an annual inventory reconciles physical assets with property card quantities.

Uploaded by

Chrystel Jade Balisacan Segundo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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PROPERTY CARD (PC)

Instructions
A. This ledger shall be accomplished as follows:

1. Agency – name of agency


2. Property, Plant and Equipment – type of fixed asset (i.e. xerox machines, filing cabinet, etc)
3. Description – description of property, plant and equipment (i.e. brand, size, color, serial no.,
etc.)
4. Property Number – assigned property number by the Supply & Property Unit
5. Date – date of acquisition/transfer
6. Reference – reference document used as a basis in recording the receipt or issuance of
property, plant and equipment
7. Receipt-Qty – quantity of property, plant and equipment received based on source
documents
8. Transfer/Disposal-Qty – quantity of property, plant and equipment transferred to other NGA’s
or disposed, issued, etc.
9. Balance-Qty – difference between the quantity of the property, plant and equipment on hand
less the transfers, disposed or issued if any

B. The PC shall be kept for each class of property, plant and equipment to record the description,
acquisition, transfer/disposal and other information about the asset.

C. Transactions shall be posted promptly from source documents. The Supply and Property Unit
shall maintain this card.

D. The physical inventory of the property, plant and equipment shall be reconciled with the property
cards every year and any discrepancies should be immediately verified and adjusted.

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