Online Asset Register | Templates

Online Asset Register | Templates

Online asset registers are a great way to keep track of important assets like:

- motor vehicles

- plant and equipment

- inventory

- other

They also provide a way to track associated maintenance and depreciations costs. Some accounting systems will include asset registers and others don't. 

At Dynamic Digital Solutions, we are able to create customised online asset registers using your existing templates. 

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What is an asset register?

Online Asset Registers can be used to keep track of important assets including the ongoing maintenance costs associated with these assets. This will enable you to make better procurement decisions and to control the maintenance costs associated with these assets. Online asset registers will also enable you to easily locate where these assets are being stored and to track who is using them.

What other asset registers do I need?

The type of asset registers required will depend on the kind of business you are engaged in. Some industries, like the construction industry, might have more high value motor vehicle or plant and equipment items on their books. Given the important role that these assets play in the business, it will be important to safeguard and track their whereabouts. These types of assets might also be very expensive to maintain. As a result, it will be important to keep a detailed register of when these assets were last serviced and to schedule reminders within the system. In some instances, maintaining a service history might be required by legislation. This might be particularly important where high risk construction activities are being conducted.

When do I need a fixed asset register?

There are a number of factors to consider when determining whether a fixed asset register is needed. These include:

- considering whether there are on-going tax implications associated with these assets

- the dollar value of the fixed asset items

- the need for the fixed asset items to be serviced or maintained

- whether high risk activities are dependent on the use of the equipment being used

If in doubt, we would suggest consulting with your tax agent or accountant.