A fixed asset register is an essential way to ensure that your finances are correct and up to date. The purpose of an asset register is to be a record of what you own, how it is behaving, where it all is and any other critical details.

Therefore, when you track your fixed assets, you benefit from more visibility, control, and accountability over your assets. In turn, this means that you purchase fewer assets, lose fewer assets and keep tax and insurance information accurate.

However, you only get these benefits if your fixed asset register is accurate and up to date.

The simple answer is no. You can keep a record in the form of a spreadsheet, or multiple spreadsheets, but to keep your asset records up to date you’ll need more.

This is because spreadsheets have gaps and, while they’re free, create a negative return on investment. 

If your fixed asset register is in the form of a spreadsheet, every row will pertain to an asset and every column a type of information. This means that each cell contains critical information. It also means that any time an asset changes, a single cell out of potentially thousands instantly becomes out of date.

Then, there may be separate tabs or sheets for depreciation data, fixed asset information, lifecycles and so on, creating a massive workload.

On its own, a spreadsheet is insufficient as the risks, such as ghost and zombie assets, are too high.

Fixed asset management software is the best way to keep your asset records up to date. This is because you’re using features, functionality, and a user-friendly interface as opposed to tackling a spreadsheet.

Fixed asset management software allows you to create unique asset profiles that you can add information to. Therefore, instead of adding data into a single cell at a time, you’re adding data against an easily findable profile.

Then, you can make the most out of streamlined features instead of manually adding and updating data all the time. For example, you can use a fixed asset management system as equipment booking software or as issues management software.

The software itself will be as customisable as a spreadsheet in this sense, so the type of fixed assets don’t make a difference. Therefore, if you’re looking for an asset tracking system for construction assets or an IT asset management system, fixed asset tracking software will suit your needs.

Fixed asset tags also remove a lot of the administration and automate a lot of your fixed asset operations. For example, asset tags simplify audits as you can scan the assets in a location and rely on a system rather than a checklist.

Asset tags are physical tags that you stick onto your assets and then link with their profiles. Then, every time you scan an asset’s tag, the relevant profile opens and the last seen location updates. This gives you an audit trail of your asset interactions, as well as speeds up asset discovery.

Bulk actions aren’t possible on a spreadsheet after a point, too. You can’t filter by assets and then bulk add them to a location without quite a bit of work to isolate assets and replace the wording. Fixed asset tracking software simplifies this and speeds it up, whether you use asset tags or not.

This way, you have a choice of how you keep your asset register up to date. You can either remotely manage information or you can interact with assets onsite using your smartphone.

itemit’s fixed asset register software lets you build an asset register by building and populating profiles. Then, you can add filters to manage your fixed asset register and export it to maintain the benefits of a spreadsheet.

Overall, itemit gives you an easy, manageable, and clean way to look after your business’ assets. Then, you can use your fixed asset register for any purpose you need it for while also knowing that it’s kept up to date. 

You can choose how you manage your assets as itemit comes with a web interface as well as an integrated mobile app. Onsite edits are easy, as are remote tweaks and exports.

Find out more about itemit by contacting the team at team@itemit.com. You can also fill in the form below to start your 14-day free trial.

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Fixed asset management software helps your business keep track of what it owns. There are many risks associated with not having a transparent fixed asset register, including ghost and zombie assets, missing assets, duplicate purchases and tax and insurance errors.

Fixed asset management software automatically generates a fixed asset register while you’re tracking your assets. This means that you avoid these common risks.

So, how does fixed asset management software work? And why should you use one?

Fixed asset management software allows you to log unique asset profiles. These profiles act as a representation of your fixed assets. Therefore, you can add asset-specific data to them.

So, if you want to track your IT assets as part of your fixed asset management operations, you can log each laptop, each phone and each desktop in its own profile.

Then, you can use effective asset management features to track these assets. So, if you need to track your IT asset’s PAT tests, you can add a repeating reminder to do so. Then, when it’s time to perform maintenance, your admin users will receive an email.

At the core of fixed asset tracking is this principle: the fact that every asset is unique, has unique information and needs to be tracked uniquely.

Fixed asset tags help with this principle as they too are unique. Asset tags are stickers that contain a unique code, likely barcodes or QR codes. Because they’re scannable, linking these tags to your assets is simple.

So, if you have a unique laptop, it will also have a unique asset tag. Then, you can scan this tag using your asset tracking app and the relevant laptop’s profile will appear.

This saves you time and money as reporting issues becomes a simple process of scan and report. Without fixed asset management software, much more back and forth is needed before issues can be identified and logged with a need to fix.

Every time you scan an asset’s tag, too, the asset’s last seen location also updates, as well as the user who scanned the tag last and the time of the scan. This gives you a tidy audit trail for when you need to identify issues or retrieve assets from different sites.

Asset management software, therefore, saves you time and money as it improves the solution to existing needs. Fundamentally, you need to know what assets your business owns, where they are and what status they’re in. 

In the past, this solution will have been almost entirely spreadsheet-based or even pen and paper. While these methods are low-cost, you end up losing money on them due to the incredible number of gaps a spreadsheet causes in your accounting processes.

With asset tracking software, you have a simple way to audit, monitor, track, update, edit, and export your assets and their information. As you have a system built for this, too, you also save time while you’re doing this. Log updates on-site with an app and resolve these on a web-based system when you’re back in the office.

You can even share the system so that users on-site can remain there while remote users filter, export, and monitor the data collected.

itemit’s fixed asset management software allows you to do all of this and more. With itemit, you have a proven, scalable system that you can onboard your colleagues onto. itemit will then save you weeks in time a year and as much money as your assets cost.

To find out more about how itemit will help you, you can contact the team at team@itemit.com. Or fill in the form below to start your very own 14-day free trial.

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or, download the itemit app to get started

An asset register gives your business clear and instant benefits. It is essential for a business to have an asset register as they’re your first defence against many fines and many sunk or lost costs.

With an effective asset register, your business can monitor and control what it owns with a lot more ease. This is because you have a lot more visibility over where assets are, what they are, and who has them.

Therefore, with an asset register you:

• Save time
• Save money
• Lose fewer assets
• Purchase fewer duplicates
• Avoid accounting risks
• Increase accountability

These benefits are just the tip of the iceberg, though, as you can save weeks a year in asset tracking operations. Your ROI in costs will depend on your assets, but one lost laptop not only stings, but it slows down work for someone, overall bringing down productivity.

The first question when you’re creating an asset register is whether or not you should use a spreadsheet. It’s tempting, as spreadsheets are free and easily accessible.

There are far too many reasons why you should never use a spreadsheet for your asset register. First and foremost, the lack of malleability and control means that it will cost you money to use a spreadsheet.

This is because of the high likelihood of ghost and zombie assets and other dangerous gaps in fixed asset accounting. If you think about it, a spreadsheet is a snapshot. So, every time an asset moves or changes hands, your asset register is out of date.

Then, consider the number of assets you have and times it by the number of fields you want to log against your assets, such as maintenance dates and invoice numbers. That’s the number of cells you need to keep on top of.

Considering this, it’s no wonder spreadsheets are unreasonable, unmalleable and unwieldy, let alone unrelenting in the amount of work they cause.

Therefore, the best way to create an asset register is by using fixed asset register software. Fixed asset register software works by allowing you to log your assets as unique profiles.

Similar to social media in this sense, you can log each of your laptops and add unique data against them. This is critical as if one laptop has a problem you need to know which one, where it is and who has it.

Instead of using cells and rows, therefore, you’re creating an asset register by creating asset profiles and through actual asset interactions rather than through intangible communications to and from sites.

Then, once your data has been added and is getting monitored and updated, you can run reports on it and export it as a pdf or excel sheet. This way, you can create the benefits of a data snapshot without having to then manage it in a difficult way.

Fixed asset tags improve your asset register as they make interactions with assets tangible. Asset tags are physical tags that you stick onto your assets and use to link profiles to equipment.

So, every time you scan an asset’s tag that asset’s profile will open. Therefore, if you notice an asset has an issue, you simply need to scan the tag and report said issue. Your maintenance team will be notified of the change.

Every time you scan an asset’s tag, too, the last seen location updates, as well as the user who scanned the tag and the time of the scan. Gives you a neat, automatic log of asset interactions and a handy audit trail in tandem.

So, not only does logging assets on asset tracking software create your asset register for you, but it also automates many of the edits and updates that you’ll need to log.

When you’re deploying asset management systems there are a suite of customisable, effective, and helpful features that let you log and manage assets. This logging process paves the way for a better asset register and better asset tracking.

Sometimes, this can be daunting which is why effective support is helpful if you need it. Fixed asset register software is built to be intuitive, but sometimes there are specific questions such as what you can use your asset register for.

With itemit, not only do you get a substantial, high ROI, you also get effective, fast, and helpful support to get you set up faster. This, in turn, saves you even more time and money.

To find out how itemit can help you with all of your asset tracking needs, from IT asset management to fixed asset tracking to equipment tracking, you can contact the team at team@itemit.com. You can also fill in the form below to start your very own 14-day free trial.

Instant access. No credit card details required.

or, download the itemit app to get started

Fixed asset inventory tags save your business time and money. This is as they optimise existing operations and unlock a wide range of effective fixed asset management features.

With fixed asset inventory tags, you can:

• audit your assets
• retrieve asset profiles
• automate location tracking
• bulk book and check out assets
• update asset inventories

Overall, features such as these save you a lot of time and money as they allow you to perform actions with simple scans as opposed to needing more clicks and investigation to update your records.

use them with a check in check out software, construction equipment asset tracking software, IT asset management software, anything.

The principle is that fixed asset tags contain a unique code. This code then links to a unique asset. So, in practice, you can stick a fixed asset inventory tag onto a laptop and then link the two in your software. Your software will then recognise that the tag corresponds with the laptop.

After you’ve tagged your assets, you will start to see benefits and speed efficiencies straight away as if you need to report an issue, you simply need to scan an asset’s tag and hit a button. This shows which asset has an issue and what the issue is with ease and with no searching.

Every time you scan an asset’s tag, too, the last seen location, user who scanned the tag and the time of the scan updates. This gives you a tidy audit trail and will help you pinpoint where assets were if issues occur.

Fixed asset inventory tags open up a range of capabilities that save you time and money. For example, if you need to double-check all of your assets that should be in a room are still there, you can run a speedy audit simply by scanning all of your assets’ tags.

The money you save is through a reduction in human error and an increase in transparency and accountability. As your assets are tagged, there’s no risk that the wrong asset will have an issue reported against it, for example.

The ability to log, monitor, and update information related to unique assets also means that duplicate purchases are less likely, and the ability to create an audit trail reduces the chances of asset loss.

Fixed asset management software links your inventory tags with an effective cloud-based system. On your fixed asset management software, you will be able to log unique asset profiles and add data to them. 

This is where you can add depreciation information, for example, or maintenance history. Any data that you need to log against your assets you can do so here. Then, you can run handy reports for tax or insurance purposes.

Fixed asset inventory tags then speed up all of your fixed asset management operations by unlocking the ability to scan assets, update information with ease and perform bulk actions.

To find out more about how you can use fixed asset management software to save your business time and money you can contact the itemit team at team@itemit.com. You can also fill in the form below to start your 14-day free trial.

Instant access. No credit card details required.

or, download the itemit app to get started

Fixed asset register software is an essential tool for your business. This is because fixed asset tracking is critical in helping you save time and money by avoiding risks.

Asset tracking and fixed asset register software give you the transparency and control you need over your assets and the ability to foresee, avoid, and rectify many asset-related problems.

So, how do you use fixed asset register software to track your fixed assets? The process is simple and the return on investment you get is massive, so, we’ll walk you through how to get started and how to see the benefits.

The first step is auditing and adding your fixed assets to your fixed asset register software. You may have an existing fixed asset register in the form of a spreadsheet or some form of existing tracking in place or you may not.

Whether or not you have any visibility over your fixed assets when you’re opting for fixed asset register software, it’s still a good idea to audit your assets while you’re adding them.

So, while adding ten laptops as asset profiles in your asset tracking software can be a simple “add x10 laptops”, physically checking these laptops exist at the same time create the most accuracy from the start.

The reason you will be using fixed asset register software is because of the gaps and inefficiencies spreadsheet tracking or limited tracking will cause, so for that reason, creating more accurate and complete data from the offset will have massive benefits.

It will be possible to audit after the fact and fine down your asset numbers, too.

While you’re auditing and adding your fixed assets to your system, too, it’s a good idea to tag them with fixed asset tags. Fixed asset tags are physical tags that you use to link your physical assets to their digital counterparts.

The idea behind asset tags is that you can scan the tag and the corresponding asset will appear on your asset tracking app. This way, if you need to report an issue on an asset, you can simply scan the tag and report said issue.

Every time you scan an asset’s tag, too, the last seen location of the asset will update automatically, giving you an audit trail of where your assets have been.

As mentioned, it’s a great idea to tag your assets when you’re adding them to your asset tracking system. You can do this in bulk to speed things along, but, again, this gives you accuracy from the offset.

Once you’ve added and tagged your assets, you can start to add, track, and manage all manner of data related to your assets. For example, you will be able to add asset reminders, check in check out information, maintenance data and more.

Some features will be more helpful with your asset tracking app where others are more helpful on the integrated web portal. So, for example, if you need to add multiple assets to a booking, all you need to do on the app is select the dates and bulk scan your assets.

When you use your fixed asset register software to add information to your assets, all of this information is logged, readable and usable. In other words, if you and your colleagues scan one asset a day, all of that information is logged and ready for you to run reports on without any admin time.

The final step is to use your fixed asset register software for what you need it for. The data will be there, so you will be able to read, tailor, filter, and control that data to give you insights.

This means that you can use your fixed asset register for a variety of reasons, including tax and insurance purposes, for auditing, and to ensure that you own certain assets.

To find out more about how fixed asset register software can help your business, you can contact the friendly team at team@itemit.com or fill in the form below to start your 14-day free trial.

Instant access. No credit card details required.

or, download the itemit app to get started