Barcodes used in conjunction with programs such as Sage 100 ERP and cloud-based Acumatica have helped companies use data for business insights and decision-making. One area that some companies are under-utilizing is the ability to use barcodes to track fixed assets.
Tracking and monitoring fixed assets can be time-consuming. Some companies still use the old-fashioned method of tracking assets on spreadsheets or through paper-based resources. A quick phone call to the office manager or IT department and subsequent paperwork enables you to check out a new desk, chair, bookcase, or computer.
Keeping tabs on those items as they move around an office building is one thing, but keeping track of forklifts, carts, and moveable manufacturing equipment is another story. These items may move frequently or may even be moved from one manufacturing plant to another.
What’s the solution to ensure they’re tracked at all times? Barcodes! Barcodes affixed to assets such as carts, pallets and more can help you keep track of them no matter where they are located.
Barcodes on Fixed Assets
To use barcodes on fixed assets, establish categories for items you intend to track. You can then print labels and affix them to the assets as you would to raw materials or finished goods, scan, and track them in your computer system.
Among the many benefits of using barcodes to track fixed assets, the following are some of the top ones mentioned by managers. Tracking fixed assets using barcodes:
- Improves productivity: Being able to locate assets immediately saves a great deal of time. Handheld scanners can swipe barcodes as equipment moves in and out of buildings and warehouses. There’s no manual data entry and no time delay between moving the equipment and updating the system. It’s all automatic without any downtime or pauses to log information into the system. This increases productivity.
- Increases accuracy: Even the most careful person can still make mistakes typing data into a system. Swiping a barcode prevents many manual keying errors that can occur from non-automated tracking of assets.
- Ensures compliance: Financial and accounting compliance and record-keeping are both made easier with automated fixed asset tracking. Instead of asking for an updated report, then waiting for a manual inventory of assets to be completed, the finance department can run reports right from your company’s ERP system.
Suggested Items to Track
Companies use barcodes to track many assets. Some ideas include tracking:
- Major office equipment such as desks, chairs, conference tables, etc.
- Office equipment like computers, moveable whiteboards with printers, printers, and copiers.
- Large tools and equipment such as saws, drills, and presses.
- Depreciation and maintenance on company equipment. This can be tracked by scanning items into inventory whenever they are maintained such as scanning barcodes to update records indicating when fleet vehicles received oil changes.
Fixed asset tracking should be flexible enough to accommodate the business needs of your company. Companies with small office space and numerous manufacturing plants may start by tracking equipment frequently moved from plant to plant during a business cycle, while other companies may prefer to begin tracking office equipment. Start with what makes sense for you.
For fixed asset tracking, barcodes offer a simple, flexible, and easily implemented solution. It’s just another way that barcode scanners and software are making business better.
Sage 100 and Acumatica ERP Solutions: Better Management of Your Warehouse
Sage 100 and Acumatica ERP solutions let you track all that’s important to your business. Monitor accounting, finance, CRM, HR, distribution, and warehouse control with one easy to use dashboard. Modular design allows you to add the functionality that you need to make your business more productive. With our partner Scanco, we can offer exception warehouse management and barcode solutions to help your business improve efficiency and productivity.
To explore ERP options, please contact or visit Emerald TC today. Our experienced team of certified consultants, master developers, and CPAs provides you with a comprehensive team of experts to help you choose and implement the best solution for your business. We are here to help you build and grow your business. Contact us.