Managing Asset Auditing & Asset Depreciation

Benefits

Ventipix Asset & Inventory Manager platform enables organizations to account for assets that are in use.

Conducting a regular asset audit can help verify the accuracy of a business’s asset list.

Asset auditing also helps an organization keep track of the value of its assets over time, as different assets have different rates of depreciation. This, in turn, allows employees to make informed decisions with regard to the maintenance of a given asset over time, and when it may be the most appropriate moment to replace the asset altogether.

Ventipix Asset & Inventory Manager platform can be configured to issue email reminders after an asset has been in service for a defined period of time or has an approaching expiration or warranty end date.

Getting Started

What you will need

Barcodes or NFC tags

If your assets have existing barcodes, as long as they are unique for each asset, you can use them for identification.

If you don’t have any barcodes or NFC tags, you can generate and print barcodes, or program the NFC tags.

Note:

• if you plan to scan barcodes with our iOS or Android app, be sure that they are in a supported format.
• with NFC tags, you can either use its serial ID or program it with your own unique values.

The Smartphone App

Download the iOS or Android app that will help you to scan barcodes, QR codes, or NFC tags. In addition, you will also be able to fill in and submit data pertaining to the asset being scanned.

You will need to create user accounts for those who should use the smartphone app, and also grant permissions to relevant sections or features of the app.

Note – although the smartphone app is recommended, you can use a webcam or Bluetooth/USB scanners to scan barcodes.

Using the asset management features

Asset Tagging

The first step is to let the platform know what the assets are. Details can include attributes such as the asset’s name, brand, purchase date, manufacturer, serial number, location, cost, images, etc. These attributes are customizable, so you can capture any attribute that you want.

There are several ways to add your assets’ records to the platform. They include form filling from either the web browser or the smartphone app, CSV import, and automation from Zapier or Microsoft Power Automate.

The quickest way to get started is by importing the equipment records from a CSV spreadsheet.

Asset Auditing

Once you’ve built a register of all your assets by tagging them, you can then conduct audits and capture relevant data regarding the status of the assets. 

These captured data can be viewed on the Asset Auditing page.

Asset Depreciation

The platform can generate depreciation expenses for the current year using either the straight-line, declining balance, or double-declining balance method.

What next?

The Tagged Assets section of the platform will show a current up-to-date overview of all the asset statuses.

You can change how the data gets formatted and presented on the table or what gets displayed on it, group alike records, search for records, export them, format them, change the behavior of some functionalities, set up various notifications, sync with other platforms e.g. Google Sheets or Microsoft Excel, and generate custom reports.

If you’re part of a team, you can add other team members as sub-users and assign them permission to access certain features.