Conducting Asset Counts with AssetManager Pro. Why and How

Why Barcode and Scan your Assets?

Barcode Scanning for Asset Management and Tracking


Assets can range from product components to buildings to IT hardware, and enterprise companies have always had to design systems to track of these assets. There are many reasons why companies track assets including financial, accounting, and regulatory reasons, and also to prevent theft.



Why Barcode Assets?


Barcodes are frequently used to streamline the process of cataloging and counting these assets, and they can conveniently used to


1. Reference an Asset based to the Asset Management system


2. Display key Asset attributes including its Location, Cost Centre, Custodian and other attributes defined by the user


3. Support the capture of a Scan(Count) as a way to identify the Asset does exist!


AssetManager Pro supports the direct printing of Barcodes as well as options to extra Barcode data for the purpose of getting more specialised/high volume labels printed. You can find more about that here.


Why have an Asset Audit (Count) Process?


Fixed assets have a substantial influence on your business’ balance statements. Not having an updated record of all your fixed assets will cost your company thousands of dollars every year.


The fact that you are not constantly auditing  your company’s fixed assets increases the chance for employee theft, misplacement, loss, and undocumented damages that affect your asset’s value.


Without accurate asset records, your financial balance sheets will be incorrect, losses may occur, or necessary assets may not be available when needed.


Routine audits ensure that your company’s financial statements do not contain any inconsistency. Consequently protecting you and your business in the case of external audits.


Regularly auditing your fixed assets will assist with identifying discrepancies, isolating errors, and keeping your company compliant with regulations.




Mobile Audits and Barcode Scanners - Shift to Mobile Apps


Mobile fixed asset audit allows your company to perform such an important task at any time and from anywhere. Your employees will have the means to run audits regularly from the field, which in turn increases overall accountability and transparency across your entire organization.


Until recently, mobile computers and dedicated handheld barcode scanners were used to manage and track assets, but with the saturation of smartphones within today’s enterprise it’s only a matter of time before these outdated hardware peripherals become extinct.


A smartphone app-based solution can help companies cut hardware and maintenance costs associated with traditional scanners.


You can find more about the AssetManager Pro Mobile Scan App for Apple iOS here



Steps in a Fixed Asset Audit


1. Decide on a starting point: Organize how to conduct your fixed asset audit. Will you separate your audit by location, department, or will it be a widespread audit across your entire company?

2. Gather your assets’ records: Once you have devised a plan of action, gather a comprehensive list of all of your assets.

3. Reassess regulations. Review internal and external procedures and regulations for conducting audits.

4. Determine audit goals. For example, ensure that every fixed asset is accounted for and it’s properly recorded and valued. However, if your tracking process has been negligent in the past, you should first conduct a manual fixed asset audit to account for all of your assets. A manual fixed asset audit will provide a starting point for better reporting in the future.

5. Review and account for inconsistencies. The final report will uncover problematic areas such as ghosts assets, damaged assets, and assets that are no longer usable and need to be disposed.

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