What is a Fixed Asset Register?

A fixed asset register is a tool used to track, monitor, and account for all of your business’ fixed assets. Fixed asset inventory software allows you to view information about your assets in real-time. This can include their location, maintenance requirements, availability and historical data.

What is a Fixed Asset?

A fixed asset is an asset that’s used in your day to day operations to generate income, usually indirectly. In practice, this typically includes machinery and equipment including IT inventory as well as vehicles, buildings and fixtures and fittings.

What is a Fixed Asset Register?

A fixed asset register is a record of all of these business assets.

Log your assets in fixed asset management software to ensure you have full visibility over the business’ purchases and equipment. As a result, the software automatically creates a fixed asset register. By QR code tagging fixed assets you can ensure all assets are logged in the software. Once tagged, your assets are uniquely identifiable which means the QR tag can be scanned for instant identification and interaction. This means you and your colleagues can quickly report an asset fault, view user manuals and check item availability.

Creating an Asset Register for your business

Your fixed asset register is likely to include a range of different assets. You’ll be able to use your fixed asset inventory software to log your IT assets as well as your equipment and tools, meaning all asset records are in one easy to access safe place.

A complete asset register allows you to have more clarity and visibility over your assets. This, in turn, results in informed decision making and produces more effective decisons and actions.

But, why specifically do you need a fixed asset register?

Why does my business need fixed asset register software?

1. An fixed asset inventory allows management, end-users, and your colleagues to know exactly what you own and what is available for use
2. A fixed asset register allows you to monitor and undertake asset lifecycle management. You can quickly see which assets are due for replacement, manage maintenance, monitor assets in real-time, and use QR code asset tags to update geolocation with every scan.
3. Part of asset lifecycle management is depreciation, and your fixed asset management software will make this a breeze. Calculating depreciation is simpler with reporting features, and you’ll be able to use maintenance history to see when an asset is no longer economical to repair.

How to get started

Getting started in creating a fixed asset register is simple with fixed asset management software.

With itemit, you’ll be able to get set up in no time at all. Start a 14-day free trial to see how speedy it is to create your own fixed asset register, then customise, manage, and export it.

We’re always happy to help you get set up. If you want to find out more, simply call 01223 421611 or email team@itemit.com now and we’ll help in any way we can.