Asset Management

Employee Asset Management helps you keep track of assets issued to employees for official purposes like Laptop, Mobile, SIM Card, Car, Bike etc.

What is Employee Asset Management?

It is a general practice among many organizations to issue certain assets to employees for official purposes. These assets include Laptop, Mobile, SIM Card, Car, Bike etc. Employees are given these assets for better discharge of their duties. In some cases, the assets are also given for personal use of employee as a perk or Bonus.

Whatever may be the purpose of issuing such assets to an employee, every business needs to keep track of these assets. Keeping a track of assets issued to employee is useful for following purposes:

Tracking warranty & service of the assets
Determining value of assets for accounting/depreciation calculation
Recovery of cost in case of employee exit
Computing value of Perks for taxation purposes

How to Track Employee Assets using Runtime HRMS?

Runtime HRMS allows you to keep track of all assets issued to employees in a comprehensive manner. To start tracking assets issued to employees, open a particular employee record and go to ‘Assets’ tab.

Here, you can start adding assets one by one. The asset addition form provides following information to be captured:

Asset Type – Select from a list of values like Laptop, Desktop, Mobile etc.
Asset Name – Enter asset name for e.g. “Dell Inspiron Laptop i7 11th Generation”
Serial Number – Enter the unique number to identify asset. This can be serial number in case of electronics, IMEI number incase of mobile phones, Chassis number in case of automobiles and so on.
Estimated Value – Enter the estimated value of the asset at the time of issue.
Issued on – Select the date on which the asset was issued to the employee
Warranty Expiry – This is a optional field. You can set the date on which the asset’s warranty is expiring or requires renewal. You can also check ‘Notify on expiry’ checkbox to get notified before the warranty expiry date arrives.

Here’s how you can capture an asset issue:

Here’s how assets list appear after capture:

To edit an asset, click on ‘Pencil’ icon at right. The details will be filled in the ‘Add Asset’ form above and your can make the edits and save again. To delete and asset, simply click on ‘Trash’ icon and confirm your action to complete deletion.

Employee Asset Report

To view list of all assets issued to employees, go to Reports > Employee Reports > Employee Assets.

You can filter this report by Location, Cost Center, Department, and search for employee name also. Once all filters are selected, click on ‘View’ to generate report on screen. The same can be downloaded in Excel also for further analysis.