When a customer says they are working on their fixed asset tracking, they are talking about assets such as computers, monitors, tools, equipment, vehicles, furniture, etc. A complete list of fixed assets (also referred to as capital assets) is commonly maintained by someone in the finance or accounting area. They like to make sure that there is accountability and reconciliation between the financial system and the actual physical assets.
The normal means of accomplishing the reconciliation is by doing periodic or annual physical inventories of the assets using asset inventory software. Accountants like to see that the total number of assets purchased matches the total assets inventoried. If there are any assets that are not found through the inventory process, those reconciling items need to be investigated.
During the time of an inventory and reviewing inventory exceptions, the people doing the inventory or audit are glad to be able to look at the history of a given asset. To be able to see when the asset was initially created / purchased, when it was assigned to a given user, when it was last inventoried, and where its last known inventory location was, are all helpful ways to resolve the exception. You may want to review some of the additional features and benefits of the CG4 Asset Tracking System.
Many times doing the inventory of fixed assets is not the most enjoyable task on a person’s desk – it is like the project that you hope will go away if you close your eyes or move it lower in your work pile. However, the easier the asset software tools are to use, the easier the inventory is to do and therefore the fixed asset tracking is tighter and more accurate. CG4s asset tracking software is an easy tool for you to use
The stand alone fixed asset tracking software that we offer has history / audit tracking. It also has the ability to let an administrator set rules to manage which types of updates will be made to the asset tracking database with or without supervisory approval. It is much easier to review a questionable update to the fixed asset tracking database before it is made than it is to try to figure out what happened after the update is made. This rule feature is just one of the benefits of the CG4 Asset Tracking software that helps make asset tracking more pleasant for you.