Keep a list of company tools with ID numbers, who has them, where they are and their condition.
Lost and walk-away tools quietly cost contractors a lot. An inventory with assigned owners makes tools easier to find and harder to lose.
Check tools out and in for shared and expensive items.
11 items. Keep it on a tablet, or print a copy for the clipboard.
A plumbing company tags 140 tools across six vans. The first monthly check finds four missing, three of which are in another van. After two months, losses drop because each tech knows their van list is checked.
A list with IDs, serial numbers and assignments shows who has what, which cuts losses from tools left on sites or passed between crews. Purchase dates and values also support depreciation and tax records for tools the business owns.
| Tool ID | EL-044 |
|---|---|
| Description | Cordless hammer drill, 18V |
| Serial number | 2238410957 |
| Purchase date and value | February 2025, $229 |
| Assigned to | Van 3, Renee |
| Condition | Good, chuck slipping slightly |
| Last check | October 31, found |
Sample for Bright Wire Electric in Hartford, Connecticut. The condition notes a small fault even though the drill is still in use, so it can be watched before it fails on a job, and the value is the purchase price an insurance claim would ask for.
Power tools and anything expensive or shared.
Monthly.
Restricted by law in many cases; get advice.
Lock vans and record serial numbers.
Many businesses add an inland marine or contractor’s equipment policy, because standard property coverage may not cover tools kept in vans or on job sites. Insurers usually ask for a list with values and serial numbers when you buy the policy or file a claim.
Group them into kits, such as a bit set or hand tool bag, and tag the kit instead of each piece. Check each kit against its contents list at the monthly count so missing pieces are replaced before a job needs them.
More for the same job
Use the tool inventory list for the record you need today. To see who clocked in, and when, book a demo of EZTime.