How Can I Keep Track Of All The Assets Of My Business?

This is probably best done with asset management software, or asset tracking software as it is sometimes called. Recording all the details of assets in a program written for this exact purpose enables you to quickly assess the capital outstanding on a groups of assets, check against stock levels, help when equipment needs repairing, and many other functions.

Most importantly, using software for this, rather than entering them in a book, allows changes to be made, such as a change in location, and also allows the changes to be tracked and audited.

It is important to understand that there is an overhead associated with having and using this software. Once the software is installed the assets need to be entered into the database. Then the company procedures have to be changed so that any change to any asset is recorded in the database. Once it gets out of synchronisation with reality, there is potential for misleading information which will waste people's time.