If you’re creating a fixed asset register, one of your first thoughts will be what kind of information you need to add to it. So, after you’ve logged your assets and your inventory, then what? Which information should you add?

If you’re still at the stage of assessing what exactly a fixed asset register is or how an asset register will benefit your business, then we suggest checking out some of our other blogs first to get up to speed.

1. Essential asset information

Let’s not run before we can walk, the first and arguably most important pieces of information you need to add to your fixed asset register are the very basics. How do you identify your fixed assets? Do they have serial numbers, asset IDs or do you just call a spade a spade?

Here are some of the most common essential asset properties:

• Asset name
• Description
• Serial number
• Asset ID
• Reference numbers from existing systems

At itemit, we know not all assets are created equal and each asset type may need different treatment. That’s why itemit offers flexibility and lets you add the information that you need – otherwise what’s the point!

2. Asset value and depreciation tracking

The next step is to add relevant financial information against your assets so that you know how much your assets are worth. This is important not just for accounting for your assets but also to plan and budget for asset replacements in the coming years. With the best asset management software, you can record all the financial information you need.

To give you an idea, we suggest adding the following to get started:

• Purchase date
• Purchase value
• Depreciation type
• Effective lifetime
• Cost to replace

Once your fixed asset register software contains all of this information, you will have a much better and clearer picture of what’s needed in terms of asset lifecycle management. 

3. Warranty and insurance management

Record against each asset details on warranties and insurance. This critical information is amongst the most common to get lost or be unavailable to those that need it when they need it!

Our existing clients use the itemit reminders feature to log all important dates. itemit sends you a reminder via email when an asset’s warranty is due to expire or even when an asset needs an inspection! You can even add attachments to each asset so you can store warranty certificates, insurance policies and purchase receipts against your assets.

To see just how easy it is to record asset warranty information, check out this video covering how to add a reminder.

4. Tag your fixed assets

So, what do we mean by tagging fixed assets? Most commonly this involves sticking a barcode or QR code tag onto your asset and linking this to the asset’s digital record – itemit does all of this for you!

Whenever you want to add information or interact with an asset, after fixed asset tagging, all you have to do is scan an asset’s QR code using itemit’s built-in scanner. The asset profile will instantly be shown to you, and you can view and add information to your heart’s content.

5. Record and monitor asset location

One of the most significant benefits of tagging your fixed assets is that each time you or one of your colleagues scans an asset tag, itemit automatically records where your asset is, who has it and when!

With itemit, you can also create a location hierarchy of your site or building to allocate items to rooms.

6. Assign assets to teams, sites or projects

Next, you can even assign assets to colleagues or teams – this is ideal if you’re looking for IT inventory management.

7. Equipment maintenance records

This is somewhat linked to point 2 above, if your fixed asset register software also includes asset and equipment maintenance tracking then your life will be much easier!

Maintenance information is great for transparency when it comes to morale, asset downtime, and which assets are reaching the end of their lifecycle. Being able to repair or replace assets the moment you need to keeps your colleagues happy and avoids the frustration we all know too much about.

Using Your Fixed Asset Register for Auditing and Reporting

The final step is to bring all of this together. You have all of the data you need to make decisions. Now you just need to present it in a useful way. It’s no use having information if you can’t use it to inform asset-based decisions.

itemit lets you view all your asset data and create customisable reports Make use of the streamlined reporting feature to view, edit, and manage certain facets of your fixed asset management processes. As you’ll have collected the data at this point, this is simple. Using filters, you’ll be able to see which assets have needed maintenance in the past six months, for example, so you know which assets need a replacement.

You’ll also be able to export depreciation information so that you know when assets are costing more to run and maintain than they’re worth. All of this is visible, manageable, and usable for your business.

Or, you can export your entire fixed asset register as a pdf. The uses of this are plenty. A full fixed asset register means that you’ll be able to ensure tax-breaks, transparency for insurance purposes, and an inventory for onboarding and business management.

itemit creates your fixed asset register on the fly, with every asset you log and start to track. So, what are you waiting for? Find out more by contacting us at team@itemit.com or by filling in the form below to start your free trial.

Instant access. No credit card details required.

or, download the itemit app to get started

We know what you’re thinking, do I really need to spend time putting together a fixed asset register or combining my many different Excel spreadsheets into one all-knowing fixed asset register. The answer is yes. It may seem a little daunting and as though you are going to open a can of worms but trust us, once you have an asset register that is easy to understand, update and use – it will be worth it. Of all the things on your to-do list, this is the one your future-self will thank you the most for.

Imagine a world where you know what assets the business owns, can instantly see asset value, manage depreciation, plan future spending and make sure assets don’t get lost or stolen. Join our existing clients using the itemit fixed asset register software, and you’ll get all of this and much more:

A single, accurate fixed asset register 

When you switch to itemit, you’ll have one asset register for the whole business. Not only can you log all of your fixed assets in the software, but itemit gives you the flexibility to add IT hardware, tools and equipment and much more. As a result, by logging into one system, you’ll see information about all of the business’ assets.

Track all of this using the itemit fixed asset management software:

• IT hardware
• Furniture, fixtures and fittings
• Construction tools
• Equipment
• Plant and machinery
• Buildings and land
• Vehicles
• and more!

A quick way to master fixed asset tagging

One of the first questions we usually get asked is – If I want to tag my assets do I need to buy a barcode scanner? – The answer is no. itemit has a built-in barcode and QR code scanner, so all you need to do is download the itemit app (available on iOS and Android) and start tagging your assets.

BONUS: Every time one of your assets is scanned, its location is automatically updated!

Plan for the future 

We’d guess you probably find it challenging to plan for asset replacements and to budget for end-of-life and even for maintenance if you’re not using fixed asset inventory software that makes this easy for you. Asset lifecycle management is a crucial part of managing assets. With itemit, your fixed asset register lets you instantly see real-time information about your assets. You can view everything you might need, such as where equipment is, where it has been, how much maintenance an asset has needed and its current value and condition. All of that without even seeing the asset!

Ensure business compliance

Life is better when you can do many many things using as few systems as possible. itemit lets you keep on top of compliance by adding all compliance-related information, reminders and certificates to your fixed asset register software.

Are you ready to switch to a better way of managing your fixed assets? Start your free trial of itemit by filling in the form below, and you’ll get instant access to start building your fixed asset register.

Instant access. No credit card details required.

or, download the itemit app to get started

As a business accustomed to juggling multiple complex projects at once, you don’t need us to tell you how critical it is to have sound logistical and planning processes in place to ensure your projects meet their deadlines and budgets. The process of improvement is continuous, particularly with advances in technology that unlock new efficiencies in day to day operations. 

One such technology is new tools allowing for much easier and smarter tracking of heavy equipment. Did you know that heavy equipment maintenance software will help you save both time and money?

Heavy equipment maintenance software will provide you with:

• More time to focus on delivering a job
• Increased accountability within your organisation
• More responsibility accepted for critical assets
• More transparency of asset whereabouts and availability
• Less wasted money

How? Here are five ways heavy equipment maintenance software will deliver great benefits to your construction business.

1. Track Equipment to See Where it is Instantly

You’ve got hundreds, if not thousands of assets spread across tens or hundreds of different projects and jobs. It’s easy to see how this can become unmanageable without proper construction equipment tracking in place. Luckily, construction equipment asset management software makes it easy to track and manage all of your assets. 

Each piece of equipment is tagged using heavy-duty QR code tags. At itemit, we work with dozens of construction companies of all and sizes and understand the importance of top quality tags that will stand the test of time. Yes, they’ll withstand being chucked about in the back of your vans, and yes, they’re ideal for being stuck on assets left to fend for themselves outdoors.

Here’s our standard aluminium tag which comes in 2 sizes as standard.

• Small – 25mm square
• Large – 50mm square

All of our robust aluminium QR tags come with a strong 3M adhesive on the reverse as standard. If you’d like a free sample of our tags, including both aluminium and vinyl QR code asset tags then please click the button below to get a free sample pack sent out to you.

With QR tags, every time someone scans one of your assets, itemit automatically records the location of the asset, who has it and when. If you’re looking for a solution with even more automation, then GPS asset tracking could be the perfect solution for you. With GPS tags, you remove the manual element of scanning a QR tag, and you can see the location of your assets in real-time.

Having this type of equipment tracking system in place means you can see at a glance where assets are and who has them. This means you and your teams will save significant amounts of time when trying to locate equipment and you’ll no longer need to make unnecessary trips to sites only to be disappointed that what you need is not in fact there. The knock-on effects on petrol savings and lowering your carbon footprint are fantastic bonuses to add to your return on investment calculations.

2. Use Equipment Maintenance Tracking to Keep Heavy Equipment Running Smoothly

Now let’s address the many inspections, maintenance, calibration, testing and routine checks that must be carried out on your equipment, plant and machinery. All of this is also handled by your equipment management software.

It’s as simple as logging all of these reminders for calibrations and maintenance in the software, and you’ll be alerted when each is due. This means at any point in time, you can run a report to see which pieces of equipment need attention, and which will need routine maintenance shortly.

As a result of better equipment maintenance management, you’ll experience less asset downtime and optimal maintenance schedules that avoid times when particular assets are needed. More on this later! All in all, this means more efficient operations and less money and time wasted.

3. Monitor Equipment Faults and Fix Issues Faster

If you’ve read enough to see that you really need heavy equipment maintenance software in your life, click the button below to start a free 14-day trial of itemit.

If you’re keen to find out more, the next thing to consider is managing the faults and issues reported against your assets. itemit makes this easy. Issues can be reported by you and your team, on the go, simply by scanning an asset’s tag and submitting an issue. By utilising this as part of your construction equipment maintenance solution, you’re keeping track of everything in one safe place. 

Check out this quick video to see the itemit issues management solution in action.

So, while reminders can show you when asset downtime is required and how to minimise this, an issues management system shows you how severe an issue is, as well as when the issue was reported which means you can get your equipment back to running optimally in no time.

Heavy equipment maintenance software not only helps you prevent issues, but also helps you to solve them. 

4. Know Who’s Using What With Equipment Checkout Software

From our experience, it’s fairly common for businesses to not know what’s in use, what’s undergoing maintenance, and what’s been rented out to which company. Is it necessary? No.

Your heavy equipment maintenance software allows you to use equipment checkout capabilities to show your entire company what is and isn’t available for use. This method of communication is much better than the Chinese whispers that often go around the workplace. Having one system for all to see shows everyone what they can and can’t use in an instant. itemit even lets you book the equipment you need in advance, to ensure you have the right assets to deliver a job on time.

This means a more productive workforce as there’s less time looking for what’s available, which translates to less wasted time and more money in your back pocket.

5. A Complete Construction Equipment Tracking Solution

Putting it all together, you can then customise and export reports in your heavy equipment maintenance software. This leverages the data gathered by the system and lets you make smart, informed decisions about your assets, projects and workforce.

You’ll be able to see specifics, such as where assets have been over any given period of time, how much maintenance they’ve required, and who has been using what. Thus, these reports are what will inform the best possible business decisions for future projects, as you get full transparency over which tools and equipment you should and shouldn’t be using for which jobs.

What Should you do Now?

If you’ve read each of these benefits and are dreaming of a solution that delivers anything close to this, then you’re in the right place. itemit is the heavy equipment solution you’ve been looking for. But you don’t need to just take our word for it, start your free trial of the software today by filling in the form below. We’ll even send you free QR tags!

Instant access. No credit card details required.

or, download the itemit app to get started

Fixed asset management software has superseded the spreadsheet. A fixed asset register ensures your organisation is in control of its assets. Now, instead of being unsure of what assets the business owns, where they are and when they’re due for replacement, you have instant access to this information, and so do your colleagues. 

If you’re at the start of your journey of rolling out fixed asset management software within your company, let us share with you our top tips on how to ensure your new system and processes are a roaring success.

1. Choose the best Fixed Asset Inventory Software

When it comes to managing your assets, it’s important to choose the right fixed asset register software for your business and your unique requirements. For example, there are a few options to choose from when it comes to tagging your fixed assets, each with benefits and drawbacks. We’ll come back to this a little later on

Similarly, different systems offer varying functionality. Some do a lot, and others may not do enough. Our top tip when it comes to ensuring managing your fixed assets is to establish what you need the software to do for you and to make sure the solution you choose ticks all your boxes. Here are some of the most common things your asset register software will need to do for you:

• Assign assets to users
• Track asset value depreciation
• Track location with a variety of tagging options, from GPS to RFID to barcodes and QR codes
• Check your equipment in and out
• Track and manage asset issues and equipment maintenance

Once you have selected the fixed asset management software that’s right for you, next, it’s time to create your fixed asset register.

Note: Before we jump into asset registers, if you’re unsure about which software is right for you and don’t want to make the wrong decision, please speak with our friendly team who will offer support and recommendations.

2. Create Your Fixed Asset Register

We’ve been helping businesses of all sizes to track their assets for many years now and we know that often, if your company is international or just very big, then a key to successfully implementing fixed asset tracking is to choose a small scale deployment initially and then scale up afterwards. By establishing your processes in a smaller, more controlled environment, you can launch your solution and get buy-in from your colleagues. Add to that the fact that often, this needs a much smaller upfront investment and it’s easy to see how this is the best approach creating a fixed asset register. Once established in your small-scale deployment it simply becomes a matter of scaling up usage by replicating the same process at additional sites.

Once your fixed asset register is underway, you’ll have access to data like this, giving you an instant overview of all your assets, their condition, where they are and who has them.

3. Tag your fixed assets

Probably one of the most beneficial aspects of fixed asset management is fixed asset tagging.

If you’re new to the world of asset tagging, read our complete guide to fixed asset tagging here.

Why is tagging your assets so useful? When you tag your assets, no matter which type of tag you use, you allow for your physical asset to be connected to its digital record. Not only does this allow you to instantly identify your assets but you can also interact with them on the go. What’s more, is that your fixed asset management software will even use the scanning of the tag to record that asset’s GPS location. Pretty neat stuff.

So, to incorporate asset tagging into your fixed asset inventory management, just follow these four simple steps:

1. Tag fixed assets with QR code, RFID or GPS tags
2. Link your fixed assets to their digital profiles
3. Add crucial data and asset information
4. Monitor fixed asset whereabouts, condition and usage

4. Monitor Your Assets and Equipment

Now you’ve got your fixed asset register and each asset is tagged, it’s time to start using the system and benefiting from your hard work! If you’ve chosen to use itemit, you get a desktop web portal as well as an iOS and Android app.

Here’s a little sneak peek of the itemit web portal.

Share Your Fixed Asset Management Software

The final step is to spread the news of your successful fixed asset management and to share access to the account with colleagues and management to ensure the whole business can see the benefits. This will take your small-scale deployment to the next level and allow for the scaling up of this solution.

Your asset management system should allow you to control the access and permissions each team member has. With itemit, you can even decide to divide up responsibilities for different locations or asset types using the unique Collections and Locations features.

What’s next?

The best thing to do now is click here to start your free 14-day trial of itemit.

If you’d like a free Zoom demo of the system, please email team@itemit.com now.

Instant access. No credit card details required.

or, download the itemit app to get started

Fixed asset inventory software provides you with more accountability over your assets. You can track the lifecycle of IT assets, such as laptops or phones, using it as IT asset management software, or you can use it for construction equipment tracking.

With fixed asset inventory software, you can track asset movements and depreciation. But how do you use one? Why is fixed asset inventory software better than a spreadsheet? How do you make the most out of tracking fixed assets?

Fixed Asset Tagging

First of all, you’ll want to implement a fixed asset tagging strategy. Whether you’re using GPS asset tags for large scale movement, or if you’re using QR code asset tags for the day to day last seen locations of your assets, fixed asset tagging can show you where everything is and where it has been.

Asset tags allow you to link up your physical assets with their digital profile. This means to change data or information. You need only scan the tag, and the relevant asset will appear in your asset management system.

Here, the last seen location will update automatically, and you’ll be able to log any relevant maintenance, issues, or calibration information.

Fixed Asset Tracking

The next step is using your fixed asset tagging and fixed asset inventory software to create an audit trail and track the entire history of assets.

From the moment you tag your assets, all movements and maintenance will be logged and viewable, and you’ll be able to use this to create a full and transparent picture of what your assets are doing. 

For example, if you’re tracking small tools and they frequently move between sites, fixed asset tracking allows you to see which site the assets were last seen at. 

Not only does this allow for speedier retrieval of assets, but it also creates a full inventory of your assets, without the risk of ghost assets or zombie assets.

How to Make the Most of Your Fixed Asset Register Software

Making the most out of your fixed asset register software means using your fixed asset tracking to reinforce responsibility and accountability throughout your workforce.

The ability to use check in check out capabilities and to assign assets to colleagues shows everyone which assets are available, and which are in use or undergoing maintenance.

A fixed asset inventory software with a reminders feature also helps you see when warranties end, and when calibration is required, streamlining your processes.

Generating a Fixed Asset Register

After you’ve been tracking your fixed assets for a few days, a visible audit trail has been created with history against fixed assets.

This is where a reporting feature will come in. You can either export your entire fixed asset register or you can customise your reports. The entire fixed asset register will show you current asset costs after depreciation, as well as movement, location, and usage data. 

Customisable reports allow you to track IT assets separately to construction assets, create an audit trail of specific assets that contractors or maintenance workers have interacted with, or view assets in a particular location with ease.

Overall, these exportable reports create a full picture of what your assets are doing and provide proof of ownership and responsible use for insurance reasons, as well as acting as information to help make decisions. For example, it’s clearer when an asset needs to be decommissioned. If it’s uneconomical to run because of its depreciation, or uneconomical to repair due to a long history of maintenance, you’ll know.

You’ll be able to use itemit as your fixed asset inventory software for all of this and more. To find out how you can contact the team at team@itemit.com or fill in the form below.

Instant access. No credit card details required.

or, download the itemit app to get started

Fixed asset management software is a tool used to track, manage, and interact with all of your business’ key assets. This includes things like your tools, equipment, IT hardware and machinery.

You can use it to manage equipment maintenance, track the locations of your fixed assets, tag your assets, manage issues, track equipment checkouts, and more!

With fixed asset management software, you’ll get a desktop web portal and an app on your phone to view, edit, and manage all the information you need to do with your fixed assets. Now you can track your assets anytime and anywhere.

What Are Your Fixed Assets?

Your fixed assets will be your business’ more permanent fixtures. They’ll indirectly make revenue by helping your business run. So, your fixed assets may be IT assets, such as laptops or computers, tools and equipment, whether small tools or large or even office stationery.

Each of these fixed assets will require specific information, such as warranty end dates, or pre-emptive maintenance schedules, especially if you’re looking for a healthcare asset management system.

A fixed asset management software allows you to use QR code asset labels to link physical assets to an online profile. This way, you can have all of your maintenance information, location tracking data, and financial information all in one place.

What Can Fixed Asset Management Software Do?

Since we created itemit, the capabilities our fixed asset management software has have grown exponentially. Now our fixed asset management software can do any number of things, for any number of industries.

If you’re a business, you’ll have several fixed assets. Whether you’re in construction, healthcare, software development, an online marketplace, or any other number of industries, you’ll have tools, equipment, or technology that needs to be tracked and managed.

That’s why we’ve listened to our customers over the years and implemented the most helpful features possible. 

With our fixed asset management system, you’ll be able to:

• assign assets to your colleagues
• check equipment in and out and book it
• track and manage asset locations.
• and so much more

We’ve found that these features are helpful for everyone. The core of itemit is to create accountability and transparency over your assets, that’s why we also have an effective and streamlined reporting feature so that you can run custom reports to turn your asset data into something useful.

Maintenance and Fixed Asset Management Software

Our fixed asset management software has a comprehensive system so that you can track and manage maintenance and issues. As part of our asset tracking system, anyone can quickly report an issue with public profiles.

For example, if somebody notices a broken fixed asset in an office, they can report it with their smartphone. This will then be automatically categorised by severity in your fixed asset management software and can be addressed accordingly.

You’ll also be able to set reminders for calibrations and routine maintenance, such as PAT tests or pre-emptive maintenance. 

Each time maintenance is undertaken, the asset’s tag can be scanned, and the change can be reported. This creates an audit trail which will help you see when an asset is no longer economical to repair.

Of course, reminders are customisable, so you’ll also be able to add warranty end dates, subscription dates, or contract dates. Any important date can be added to itemit’s fixed asset management software.

To find out more, you can reach the team at 01223 421611, or fill in the form below to find out more.

Instant access. No credit card details required.

or, download the itemit app to get started