How To Create A School Fixed Asset Register

Published on February 15, 2021 • 3 min read

Your school will save time and money by using a fixed asset register. A fixed asset register allows you to:

• Monitor what you own
• Monitor asset finances
• Reduce asset losses
• Reduce theft
• Improve maintenance operations
• Monitor asset finances

With an effective system in place, you'll be able to track and manage all of your school's assets, keeping students and staff happy. Now more than ever, it's crucial to reduce asset interactions, too, and a fixed asset management software will help you achieve this.

What Is A Fixed Asset Register?

A fixed asset register is a list of all of the assets you own. Each asset will have unique information attached to it, including financial data, an image, location data, and maintenance information.

This way, you'll be able to break down your asset tracking operations into manageable chunks while using your fixed asset register for critical processes, such as with tax and insurance.

With a cloud-based system, too, you'll be able to automate your fixed asset register. An asset tracking app allows you to interact with assets while you have physical interactions with them. These interactions will log onto your fixed asset register automatically.

Using Asset Tags For Fixed Asset Management

Asset tags speed up your operations. These can be simple QR code or barcode asset tags. On your asset management software, each of your assets will have a unique digital profile. Then, these tags will link the physical asset to its profile.

Every time an asset's tag is scanned, four things will happen:

• The user who scanned the tag will update
• The last seen location will update
• The time of scanning will be logged
• The asset's profile will open

This way, if you notice one of your fixed assets requires maintenance, all you need to do is scan the asset's tag and report it with one of your asset management software's features.

The Benefits Of Using A School Fixed Asset Register

A school fixed asset register gives you much more control over your operations and your tools and equipment. As you'll be able to view, log, and edit any and all asset information, you'll be able to benefit from time and cost-saving procedures.

Knowing where your assets have been and who has been interacting with them allows you to minimise asset losses and asset theft primarily. Then, effective features such as equipment booking and maintenance functionality help you minimise asset downtime and further control asset movements.

As all of your edits and interactions are logged onto a streamlined, automated, and customisable school fixed asset register, you'll then also be able to monitor any changes your assets go through.

After this, you'll be able to export your fixed asset register ad use it in existing operations, such as with tax and insurance, while also tracking crucial information such as asset depreciation data.

To find out more about how itemit's school fixed asset register software can help your school save time and money in a simple, effective, and powerful way, you'll be able to contact the team at team@itemit.com or fill in the form below to start your very own 14-day free trial.