Are You Tracking Your Assets Properly?

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There are three main reasons you will benefit from compiling an accurate asset and equipment list for each location you are responsible for.

First, you will have an detailed list of your equipment for tracking and accounting purposes. Second, you will be able to track the lifetime spend and repair history on your equipment which will help you save money and make better decisions on whether to repair or replace equipment and assets. Third, you will know which equipment/assets are under warranty and avoid paying for repairs and even voiding your warranty. The following is the minimum information you need to track.

  1. Asset Type (i.e. Roof Top Unit, Walk-In Cooler, Oven, Fuel Dispenser, etc)

  2. Asset Name/ID (Use 1-001 as a best practice, where 1 is your location number and 001

    is the actual asset number, starting from one. This will make it easier to keep track of

    later.)

  3. Manufacturer

  4. Model Number

  5. Serial Number

  6. Purchase Date

  7. Installation Date

  8. Purchased From

  9. Replacement Cost

  10. Installed By

  11. Labor Warranty Expiration Date

  12. Material Warranty Expiration Date

  13. Other Warranty Type

  14. Other Warranty Expiration Date