The Asset Management module in HRSimplified enables companies to efficiently track and manage both physical and soft assets. From adding new assets to handling employee orders for accessories, this module helps streamline asset allocation, track depreciation, and monitor asset usage across your organization.

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Key Features of Asset Management: #

1. Asset Registry #

• The Asset Registry is the central place for managing all company assets.
• You can add assets with detailed information such as:
  • Asset Name and Asset Number
  • Serial Number and License Number (for soft assets)
  • Purchase Price and Depreciation Years
  • Expiry Date (for licenses or safety gear)
  • Parent-Child Relationships (e.g., a laptop and its components)
• Assets can be assigned to specific employees and tracked throughout their lifecycle.

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2. Asset Types and Statuses #

• Assets can be either physical (like laptops, desks, or safety gear) or soft assets (like software licenses or subscriptions).
• Asset Statuses include:
  • Allocated: Currently assigned to an employee.
  • Unallocated: Available for use.
  • Expired: Past its expiry date or no longer in use.
• Statuses can be filtered for easier management, helping HR teams manage active, inactive, and expired assets.

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3. Assigning Assets to Employees #

• Once an asset is created, it can be assigned to an employee. This includes physical assets (like laptops) or soft assets (like software licenses).
• Employees can view their assigned assets under the My Assets tab in their dashboard.

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4. Tracking Depreciation and Expiry Dates #

• Depreciation is calculated based on the asset’s purchase price and the number of depreciation years set at the time of creation.
• Expiry dates can be set for licenses or safety equipment to notify HR when renewals are required.
• The system will show the current value of the asset based on its depreciation schedule, helping you track its financial status over time.

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5. Managing Asset Orders (Parts and Accessories) #

• Employees can request accessories or additional parts for their assigned assets. Examples include ordering new safety boots or requesting laptop upgrades.
• Orders are submitted through the My Assets section, where employees can fill out an order request and include a motivation for the request.
• Asset managers review these requests under the Orders Submitted section and can either approve or reject them. Approved orders are then processed and assigned to the employee.

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6. Parent and Child Assets #

• Assets can be organized in a parent-child relationship, allowing you to track parts or upgrades attached to larger assets.
• For example, a laptop can be the parent asset, and upgrades like additional RAM or software installations can be recorded as child assets.

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7. Managing Asset Status (Allocated, Unallocated, Expired) #

• You can view assets based on their status:
  • Allocated: Items currently assigned to employees.
  • Unallocated: Assets available for reassignment.
  • Expired: Assets that have reached their expiration date (licenses or equipment).
• Use the dedicated menu items to filter through assets easily and take action when needed.

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8. Reporting and Auditing #

• The Reports section provides a comprehensive view of asset assignments, asset orders, and asset depreciation.
• This is useful for tracking the value of company assets, ensuring proper utilization, and maintaining compliance with asset management policies.

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Conclusion: #

The Asset Management module in HRSimplified is a powerful tool for managing company assets, from creation to assignment and tracking. With detailed reporting, depreciation tracking, and employee orders, it ensures assets are efficiently utilized and managed throughout their lifecycle.