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We’ve all used them, spreadsheets, whether it’s to do a simple list of items, or whether you are looking to create advanced sums for business forecasts. Although they are not really good enough for our uses, we still manage to put up with them. No doubt the reason for this is because we would rather use a free package that came with our PC, instead of buying a new one that’s more suitable for the job.

Even though spreadsheets come with a number of problems, they do have some useful features. The biggest pluses is that they can manage simple calculations, create graphs using the data, and create easy to manage business forecasts. We generally find use of these at some point. However, due to the number of problems they are, they simply aren’t good enough for tracking yourUK fixed assets.

Although it may sound appropriate for storing information about your company assets, it’s simply not as advanced as anasset tracking software UK package.

To a certain extent, a spreadsheet can prove to be useful for tracking assets, however, once you start wanting to store more data about more assets, the spreadsheet is no longer useful.

Here are some features you should look out for when buying an asset management software suite.

• They are required to store enough in-depth data about your items. Even though the amount of data a spreadsheet can store is enough for some tasks, in asset management it tends not to be. The information stored might not be in enough detail as required.
• They must be able to reflect the structure of the company. If the asset sites in a number of sectors within the company, a spreadsheet cannot reflect this type of structure.

• They should be very flexible and be able to restructure very easily. Altering the structure and data of a spreadsheet is easy, but once it becomes complex, the task automatically becomes difficult.
• It should be able to calculate a number of depreciation rates on several items. If a number of assets has been purchased all at different points in time, but they are linked together, like a computer, keyboard, mouse and monitor. The management software should be able to handle multiple depreciation levels.
• Must be able to handle re-lifeing of assets. If an asset is re-assed and is found to be of use, the depreciation level on the item must be altered.
• They must be able to export the data into structured reports. Spreadsheets make it difficult to create useful, structured data reports.

Those are just a few features that should be contained within any software package designed for asset management. Plus it’s why a standard spreadsheet package is not suitable for storing company asset data and adding the data to afixed asset register.