Keep a register of equipment and assets: what you own, where it is, who has it and its condition.
Laptops, tablets, tools and machines disappear quietly when nobody tracks them. A simple register shows what you own and who is responsible.
For accounting and tax treatment of fixed assets, work with your accountant. This register is an operational record.
13 items. Keep it on a tablet, or print a copy for the clipboard.
A home care agency issues tablets to caregivers. The register lists 42 tablets by serial number and assignee. During the annual audit, two are unaccounted for; one is found at a client’s home, the other is reported lost and remotely locked.
Insurers ask for proof of what was owned and what it cost after a theft, fire or flood, and an asset register gives that proof quickly. The IRS also expects you to keep records of an asset’s cost until the tax years affected by its sale or disposal can no longer be audited.
| Asset ID | SPT-0087 |
|---|---|
| Description | Electric hi-lo treatment table |
| Serial number | HL-55821 |
| Purchase date and cost | Mar 2024, $3,150 |
| Location | Clinic 2, room B |
| Condition | Good, motor noisy, service booked |
| Warranty end | Mar 2027 |
Summit Physical Therapy has two clinics in Denver. The noisy motor is noted while the table is still under warranty, so the repair can be claimed before March 2027.
Items above a value you set, and all devices with data.
At least yearly.
A named owner, often operations or IT.
Collect assigned items on the last day.
Yes, if they are portable, easy to lose or hold company data. The IRS de minimis safe harbor lets many small businesses expense items up to $2,500 each instead of depreciating them, but that is a tax choice. You still need to know who has each phone and where it is.
Note the date, the method such as sold, recycled or destroyed, who approved it and, for devices, that data was wiped. Keep the record rather than deleting the row. Tell your accountant too, because disposing of an asset can change your depreciation and tax figures.
More for the same job
Once the company property inventory template is in place, the next question is usually about shifts and hours. Book a demo to see how EZTime handles scheduling and time tracking.