An asset register is pivotal to asset management. No matter what size your asset portfolio is, you need to keep a record of your asset information for asset planning, accounting and legislative compliance, and performance monitoring. To make things easier for you we’ve created an asset register template that you can freely download, customize and share.
In the upcoming weeks we’ll share tips on how some of the formulas were calculated. In the next tip, particularly, we’ll focus on the formula that calculates which financial year the asset was purchased in.
Note: Download the free asset register template
Applies To: Microsoft® Excel® 2007, 2010 and 2013
- The financial years for the data under review is on the lookup worksheet.
- The list of assets and their life spans are on the lookup worksheet.
- The Vlookup function extracts the data into the assets register from the lookup worksheet under “Check useful life”.
- The IF and AND functions are used to calculate the financial year when the asset was purchased under Assets Purchased by Fin Year.
- Depreciation using the Straight line method is calculated in column O.