The Asset Management module in HRSimplified allows you to add both physical and soft assets to the system, providing detailed tracking for each item. This guide covers the step-by-step process of adding a new asset, assigning it to an employee, and setting up depreciation and expiry tracking.

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Steps to Add a New Asset: #

1. Navigate to the Asset Registry #

• Go to HR Administration in the left-side menu.
• Select Asset Management, then click on Asset Registry to access all your existing assets.

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2. Click Add New Asset #

• Click on the Add New Asset button in the Asset Registry to open the asset creation form.

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3. Fill in Asset Details (Expanded) #

• Complete the required fields in the asset form:
  • Asset Name: Provide the asset’s name (e.g., Laptop, Software License).
  • Asset Number: A unique number to track the asset.
  • Serial Number: For physical assets, input the manufacturer’s serial number.
  • License Number: Add a license number for software or regulated items (optional for physical assets).
  • Asset Description: Describe the asset and its use in your organization.
  • Condition: Record the current condition of the asset (e.g., New, Good, Damaged).
  • Work Order Number: If the asset is under maintenance or repair, track its work order number.
  • Branch: Specify the branch or office where the asset is located, for easy tracking across multiple locations.

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4. Assign the Asset to an Employee #

• Assigned To: Select the employee to whom the asset will be assigned.
• If you’re adding an asset that hasn’t yet been allocated, you can leave this field blank and assign it later.

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5. Set Parent-Child Relationships (Optional) #

• Parent Asset: If this asset is part of another asset (e.g., RAM in a laptop), select the Parent Asset from the drop-down menu.

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6. Choose Asset Type and Status #

• Asset Type: Choose whether the asset is physical (e.g., hardware) or soft (e.g., licenses, software).
• Asset Status: Set the asset’s current status:
  • Allocated: The asset is assigned to an employee.
  • Unallocated: The asset is not currently in use.
  • Expired: The asset has reached its end of life or license period.

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7. Financial and Depreciation Details #

• Purchase Value: Enter the purchase price of the asset.
• Depreciation Years: Specify how long the asset will depreciate. The system calculates depreciation value over time.

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8. Input Key Dates #

• Purchase Date: Enter the date when the asset was bought.
• Expire Date: Set an expiration date if the asset has a limited lifespan, like a license or certification.
• Cancellation and Renewal Dates: Enter these dates for licenses or subscriptions that need periodic renewal.

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9. Custom Fields #

• Custom Field 1 & 2: Add custom fields and descriptions if needed for extra tracking purposes, such as warranty information or internal asset codes.

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10. Save the Asset #

• Once you’ve entered all relevant information, click Save.
• The asset will now appear in the Asset Registry and can be assigned or updated as needed.

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Important Notes: #

1. Depreciation Calculation: HRSimplified automatically calculates depreciation based on the purchase date and the depreciation period.
2. Parent-Child Assets: If your organization tracks upgrades or additional parts for larger assets, use the parent-child relationships to keep them linked together.
3. Unallocated Assets: Assets can be added without being assigned to an employee. You can assign them later when needed.

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Conclusion: #

Adding assets in HRSimplified allows you to track valuable resources across your organization. By providing detailed information such as depreciation, conditions, and expiry dates, you can ensure that assets are properly managed and assigned.