Asset Management

Asset Management Spreadsheet Template

April 24, 2024 • 4 min read

Tracking your business’s assets is essential. After all, items like equipment, machinery, technology, tools, and furniture help ensure your operations run smoothly so your business can provide goods and services to customers and clients. Whether your assets consist of computers, factory equipment, or construction tools, your business needs to know where those items are, what condition they’re in, who has used them, and whether they need maintenance. 

That’s where an asset tracking template comes in. With the right free asset tracking spreadsheet, your business can start managing assets and other inventory immediately. And while a spreadsheet might not offer all the features and capabilities of inventory management software, it’s a great first step in getting all your inventory organized.

This article will review how to use an asset tracking spreadsheet, touch on some of the benefits of using an asset management spreadsheet template, and offer a free asset tracking spreadsheet template that’s yours to customize for your unique business.

Related: What’s an asset?

 

How do you use an asset tracking spreadsheet?

An asset tracking spreadsheet can be as simple or complex as you need. In general, an asset tracking template features a complete list of exactly what assets your business has on hand, often using separate tabs to indicate items are in separate locations. 

Free Ebook: Asset Tracking 101

  • Learn about three different asset management systems
  • Find out exactly what to track on your inventory list
  • Discover how you can use simple technology to save time, money and stress

Essentially, your team will first put together a list of every asset it owns, compiling details on each item. Then, when an asset changes hands, is purchased, sold, or experiences a change in condition, you’ll want to update those details right in the asset tracking spreadsheet. 

While an asset tracking template is a reasonably effective way to track inventory, many businesses do find that as their company grows, their inventory needs become more complex. At that point, they may want to look into another solution, such as inventory management software

Related: What is Asset Tracking?

 

What should you track on an asset tracking spreadsheet? 

Your asset tracking spreadsheet should allow you to record every key detail about the assets your business owns, such as where your investments are currently located, what condition those items are in, the current value of those assets, and how they’ve changed hands over their asset lifecycle. 

To get started, transform whatever asset management spreadsheet template you’re working with into a true inventory list. Conduct an asset audit, and write down what you find. Be sure to include location, value, condition, barcode or QR code, SKU, manufacturer, and more. You may also choose to add information about an item’s warranty or any other key resources.

When it comes to an item’s value, you’ll also want to record each asset’s purchase price. This information, plus details on the item’s condition, can help you both understand how much life is left in an asset—and help your accounting team correctly claim depreciation. This information is also important when your business prepares balance sheets

You can also use your spreadsheet to track upcoming maintenance dates and record what service was provided, and when. 

Please note that ideally, an asset tracking spreadsheet is only used to record textual data, such as dates and locations. Other key details, like an asset’s barcode, QR code, photos, manuals, and service and warranty information, may be difficult to record in a spreadsheet. You can create columns for them in the spreadsheet, but be aware that they may disrupt your formatting. 

To include data such as images, barcodes, and other non-textual information, consider switching to an inventory app that allows you to add barcodes, high-resolution images, and attachments. 

 

Free asset management spreadsheet template

Sortly’s free asset tracking spreadsheet template is a great starting point for tracking your assets and inventory. 

Simply download and use our template to list your assets and collect essential details. The template is pre-populated with common asset categories and example assets for each, but you’ll need to fill in your unique items. The template is easily customizable–feel free to add the details, rows, and columns you need to make the spreadsheet work for your items and business.

If and when you’re ready to start tracking your assets in an inventory app, you can also bulk import this data directly into Sortly. 

Download our free asset tracking spreadsheet below to get started. We’ve also included an asset management template for Excel.

About Sortly

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Are you ready to transform how your business does inventory?

Sortly is an inventory management solution that helps you track, manage, and organize your inventory—from any device, in any location. We’re an easy-to-use inventory software that’s perfect for small businesses. Sortly builds inventory tracking seamlessly into your workday so you can save time and money, satisfy your customers, and help your business succeed.

With Sortly, you can track inventory, supplies, parts, tools, assets like equipment and machinery, and anything else that matters to your business. It comes equipped with smart features like barcoding & QR coding, low stock alerts, customizable folders, data-rich reporting, and much more. Best of all, you can update inventory right from your smartphone, whether you’re  on the job, in the warehouse, or on the go.

Whether you’re just getting started with inventory management or you’re an expert looking for a more efficient solution, we can transform how your company manages inventory—so you can focus on building your business. That’s why over 10,000 businesses globally trust us as their inventory management solution.

Start your two-week free trial of Sortly today.