Every serious business carries out an inventory from time to time to count the assets in its system. The ability to perform good asset tracking is crucial to calculate accurate budgets and to define how much resources should be allocated to departments. This article discusses what an Asset Tracking Spreadsheet is and how it can help your organization.
What Is an Asset Tracking Spreadsheet?
Asset tracking spreadsheets allow you to quantify, catalog, manage, and track assets through an inventory list. These crucial tools provide an accurate overview of all your organization's assets, allowing you to decide if you need to invest and purchase new items.
Why is an Asset Tracking Spreadsheet Important for your Business?
Below we're mentioning three essential reasons why asset tracking spreadsheets are mandatorily applicable to your business.
Budgeting
Since your team can calculate the total value of the assets of your business, either digital or physical assets, for instance, software licenses and laptops, you can estimate the portion of the budget you need to buy and maintain those assets.
Loss Prevention
Bad bookkeeping leads to lost and misplaced assets, which also leads your company to spend extra resources and money in getting new assets. For instance, it's widespread for computers to break down. If your company accurately tracks them and describes their status, it will provide the right solution. Asset tracking will help you to reduce general costs.
Increase Efficiency
Correctly managing an organization involves employees having the assets they need to manage their work and complete their tasks. At the same time, your company should only purchase articles that workers will use. An accurate asset tracking spreadsheet document will help you to develop a good analysis of all categories, departments, and general assets and decide if the company needs new purchases.
What Should a Competent Asset Tracking Spreadsheet Include?
Asset tracking documents have particular characteristics you should consider when completing or building your own.
Assets
These are the fundamental part of asset tracking Excel spreadsheets. The idea here is to describe all the asset details.
- Name: Enter the specific name of each asset.
- Item Number: Include the unique identifying number for each asset.
- Description: Write a brief description of the item. You can even insert the item lifecycle.
- Type: Describe the type of the asset. For instance, computer hardware and software.
Location
In this section, companies define the physical location of the asset. Thanks to this information, the user can access directly to the asset. The fundamental data would be the following.
- Department: The department of your company where the asset is located.
- Space: Exact details of its location. It can be the warehouse.
Purchase
In this column, you describe all the purchase information essential for buying spare parts, maintenance, new equipment or technology, or fixing the product.
- Purchase Date: This corresponds to the last date your order was placed.
- Vendor: The asset’s vendor name.
- Purchase Price Per Item: The final purchase price.
- Warranty Expiry Date: The expiration date of the warranty.
Quantity and Value
In this column, you describe the current status of the article and the total number of items of organization.
- Condition: The status of the particular asset.
- Quantity: The number available of the asset.
- Asset Value: The monetary value of the asset. You can also insert the market value.
- Total Value: Review the cumulative value for each asset (by multiplying the quantity by the asset value).
Asset Information
Keeping track of assets involves describing and inserting information in more detail. It corresponds to the correct section where you can organize this information.
- Asset ID. Barcode, serial number, or specific tracking ID. It should contain up to 12 digits.
- Model: The model details.
- Vendor Number: The particular vendor number of the individual asset.
- Notes: You can write any relevant note you consider appropriate for the inventory. For instance, if users need to repair the item they use.
- Photograph and link: A picture of the item also provides additional info. You can also insert a link to a corresponding visual.
Total Value Asset
This data corresponds to the total in-money value of all your company's assets. One of the benefits of inventorying through a spreadsheet document is that the total is auto-calculated.
Asset Tracking Spreadsheet Templates
Below you will find some free templates that you can use and customize to fit your company’s purposes.
Simple Asset Management Template
This document is a simple asset-tracking template that incorporates essential columns where you can insert primary information about assets and supplies. For example, you can describe the item number, the name, the manufacturer, the description, the quantity, and the location within your company in each cell. If you need to add another column for item status or expert dates, you can create columns for such purposes.
You can download this simple asset management template from Smartsheet.
Asset Inventory Spreadsheet Template
This is a template designed to track the asset inventory of your organization. It contains enough rows to insert fixed assets and describe them. Besides, this template incorporates columns where you can insert detailed information about the assets—for instance, the purchase information, the quantity and value, and the item's location.
You can download this asset inventory tracking spreadsheet template from Vertex42.
Basic Asset Tracking Spreadsheet Template
This is another primary spreadsheet template for tracking assets that most organizations can use for inventorying and monitoring assets. This template is a simple but useful tool to sort an organization's assets according to their serial numbers, category, status, quantity, and more! You can also add all the additional data you wish by inserting new columns for new essential information.
You can download this basic asset tracking spreadsheet template from Generalblue.
Getting Microsoft Office for Asset Tracking
To fill out the three templates we've provided above, you must have Microsoft Excel. As we know that getting this application on the official site of Microsoft may be a bit expensive, we're offering a Microsoft Office 2021 Professional Plus Key Retail Global reliable copy at €6,80.
Here, on RoyalCDKeys, we're continuously offering solutions to our customers, so you get crucial software for the modern world.
Bottom Line
Inventorying all the assets your company uses for its products and services is crucial to have a positive balance within your organization. A well-conducted budget calculation compulsorily leads to more efficiency, lower costs and prices, and better and cheaper products for your customers. Everybody wins!
Please browse our website for more exciting articles about gaming and business resources. If you're interested in getting many other templates for accounting, budgeting, processes, and more, check the continuous material we're bringing!