Fixed asset management becomes chaotic when teams track assets across multiple spreadsheets, forget to record depreciation, or lose track of physical locations. Most organizations struggle with missing assets, inaccurate book values, and audit findings. This template centralizes asset tracking and automates depreciation calculations so you maintain accurate records and pass audits without the manual spreadsheet updates.
What is a Fixed Asset Management Checklist?
Fixed asset management tracks the lifecycle of long-term assets from acquisition to disposal. You record purchases, calculate depreciation, verify physical inventory, and update records. This ensures accurate balance sheets and proper tax reporting. Assets don’t go missing. Depreciation follows accounting standards. Audits run smoothly.
Benefits of using this template
- Real-time automation and data accuracy – Coefficient automatically syncs your financial data into Google Sheets, eliminating manual data entry and ensuring your Fixed Asset Management Checklist is always up-to-date with live information from your source systems.
- Enhanced team collaboration – Multiple team members can work simultaneously in Google Sheets, providing real-time visibility into task status, completion, and any issues that arise during the process.
- Time savings and efficiency – Streamline your process by automating repetitive tasks and data collection, allowing your team to focus on analysis and strategic activities rather than manual work.
- Improved compliance and control – Maintain a clear audit trail and ensure all required steps are completed consistently, reducing compliance risks and improving internal controls.
- Flexible and scalable solution – Easily customize the template to fit your organization’s unique requirements and scale as your business grows without expensive software investments.