The Asset Register add-on is a very useful container for keeping track of all the “stuff” your business owns.
Assets can be just about anything, and include things like:
- Furniture & fixtures
- Laptops, computers, and monitors
- Networking equipment and servers
- Mobile phones
- Printers & faxes
Tracking Assets for Tax Purposes
Assets over a certain value need to be reported for tax purposes. Assets depreciate over time and the Depreciation Schedule allows you to record the depreciation for each asset.
Even if you do not need to report some assets for tax purposes it is still very useful to keep track of each asset so you can know where it is located and who it is assigned to.
You can also record any insurance details, maintenance history, original purchase details, serial numbers, and even upload photographs and operating manuals.