Using Fixed Asset Register Software To Track Your Fixed Assets

Published on August 3, 2021 • 3 min read

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.

Audit & Add Your Fixed Assets

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.

Use Fixed Asset Tags

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.

Add And Collect Data For Your Fixed Asset Register

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.

Use Your Fixed Asset Register Software

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.