Keeping track of your assets is hard enough. Luckily, Asset Panda provides you a seamless system to record and manage all of the information about your assets- purchase and lease information, photos, insurance information, depreciation, and more. The headache of trying to remember which assets you have, where they are, and what state they are in is a thing of the past.
But how do you make sure that you are using Asset Panda regularly enough that your asset database is always up-to-date, and therefore always useful to you when you need it?
Based on our years of experience, it is best to have a system in place that regularly reminds the people in charge of your assets to perform regular upkeep of your asset records. Various software solutions pair perfectly with Asset Panda to make sure that your regular asset management process stays easy, seamless, and up to date. Let’s take a look at one of these software solutions.
CommandHound, a software tool that focuses on driving accountability in the workplace to make sure things get done. CommandHound provides a powerful asset management add-on when used in conjunction with Asset Panda. While Asset Panda provides you with a database with information about your assets, CommandHound manages all of the tasks needed to maintain that database.
Say, for example, that your assets are added on a certain schedule and you always have trouble making sure that people on your team stick to that schedule. With CommandHound, the team leader can assign tasks to individuals, such as “add assets to schedule,” “remove disposed-of assets from Asset Panda,” or “update depreciation schedules,” that repeat on a weekly, monthly, or quarterly basis. If the person in charge of updating the asset database does not complete this task in a timely manner, the team leader will be notified and will be able to follow up to make sure that your Asset Panda database is always up-to-date. A tool like CommandHound accountability will make sure things do not fall through the cracks.
During the accounting month-end close process, depreciation journal entries are a critical component to produce accurate financial statements. The accounting department could also use CommandHound to ensure that all month-end fixed assets activities are carried out on time as expected.
Using Asset Panda to keep track of your asset’s crucial information and CommandHound to make sure that asset tracking activities are performed on a timely and regular basis will greatly enhance fixed asset tracking accuracy.
Give Asset Panda a try for 14 days at assetpanda.com and see how our asset and inventory app technology will change the way you do business!