Procedure for Purchasing Asset Items and Company Equipment

Procedure for Purchasing Asset Items and Company Equipment

1. Purpose

The purpose of this procedure is to ensure that capital expenditure by Campbell Construction Co Pty Ltd is planned, evaluated, authorised, implemented, monitored, and reported in a systematic manner to meet the objective of best practice.

Asset management and capital expenditure is essential to the continuity, development, and growth of Campbell Construction Co Pty Ltd.

2. On Employment

  1. During your induction to Campbell Construction Co you will be provided with equipment depending on your role within the company. This will/may include, computer/laptop, car, Wi-Fi device, phone, tools/equipment, office supplies and stationery.
  2. For employees who are working from home office, items such as desk, chair, monitor, keypad, printer can be purchased following procedure approval.
  3. For employees who are working from one of our offices, you will be allocated an area/desk space to work and equipment and stationery required will be provided.
  4. The equipment allocated to you will be noted in an equipment list and saved to file as well as added to the asset register.

3. During Employment

  1. Where you require ANY – ITEMS OVER $50.00 – as equipment or tools to perform your role the following procedure is to be followed:
  2. Gather list of equipment
  3. Send an email to accounts@campbellcc.com.au requesting the equipment be purchased providing quote or approximate cost, if known (for larger tools etc) and also where the items can be purchased from.
  4. Accounts Manager will obtain approval from the Director and notify you of the approval to purchase.
  5. Purchase of asset will either be completed by the account’s manager on an existing account or approval granted to purchase individually by the staff member from the store on company credit card. (Accounts should be used in most instances.)
  6. If purchased on CC, the receipt must be sent to cc@campbellcc.com.au and details in email of purchase. If purchased on account, please use the order number TOOLS or EQUIPMENT where required.
  7. Once the receipt is received, this will be filed by accounts payable team and the asset noted on the individual staff members asset register, recorded by the Accounts Manager.

 

Note: Should an asset in your possession be broken, lost, misplaced you must notify the accounts manager by email. Quarterly audits will be conducted going forward to ensure the asset register is kept up to date and ensure the items can be depreciated at EOFY.

Negligence and misuse of equipment or tools in your possession causing damage of assets including loss of, will require you to replace the item/s at your own cost.

 

4. On Resignation or Termination.

    1. On Resignation or Termination of employment ALL equipment and assets recorded on the employee’s items as listed on the assets register must be returned in good working order.
    2. Any assets not returned will be deducted from final pay.