{"id":69380,"date":"2021-07-30T17:12:30","date_gmt":"2021-07-30T15:12:30","guid":{"rendered":"https:\/\/www.sage.com\/en-za\/blog\/?p=69380"},"modified":"2026-03-11T19:52:15","modified_gmt":"2026-03-11T17:52:15","slug":"signs-its-time-to-dump-your-spreadsheets","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-za\/blog\/signs-its-time-to-dump-your-spreadsheets\/","title":{"rendered":"Fixed asset management: 6 signs it\u2019s time to ditch your spreadsheets"},"content":{"rendered":"
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\n\t\t\t\t\t\t\tBusiness planning<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t
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\n\t\t\t\t\t\tFixed asset management: 6 signs it\u2019s time to ditch your spreadsheets\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t

\n\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n\t

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\n\t\t\t\n\t\t\t\t\"yassir-malik-profile-picture\"\t\t\t\tYassir Malik<\/span>\n\t\t\t<\/a>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n

Are you using spreadsheets for your fixed asset management?<\/p>\n\n\n\n

At some point during your work day, you\u2019ve probably experienced a few hiccups using spreadsheets to control your asset management process.<\/p>\n\n\n\n

Here are six common signals it\u2019s time to switch from using spreadsheets to manage your inventory control<\/a>:<\/p>\n\n\n\n

1. Missing Assets<\/h2>\n\n\n\n

An incomplete reporting of all assets can lead to tax penalties and insurance issues.<\/p>\n\n\n\n

2. Lack of privacy and data<\/h2>\n\n\n\n

Using spreadsheets to manage your fixed assets is a huge security risk.<\/p>\n\n\n\n

What if someone hacked into your system would your data be protected?<\/p>\n\n\n\n

Using a software is the safer route for protecting your assets.<\/p>\n\n\n\n

3. Trouble with scalability<\/h2>\n\n\n\n

Tracking a growing capital asset inventory on spreadsheets can lead to data errors and communication breakdowns that negatively impact your business. <\/p>\n\n\n\n

Your need real-time tracking data in order to make better decisions.<\/p>\n\n\n\n

4. You consistently discover errors in your data<\/h2>\n\n\n\n

Have you discovered errors in your formulas when calculating depreciation?<\/p>\n\n\n\n

Entering formulas into spreadsheets often comes with a margin of error since the data is being manually entered into the document.<\/p>\n\n\n\n

Not catching those errors can cost your company money.<\/p>\n\n\n\n

5. You feel like you have multiple job titles <\/h2>\n\n\n\n

Does the manual entry process have you stressed out and feeling like you\u2019re doing multiple people\u2019s jobs?<\/p>\n\n\n\n

Being able to digitally enter inventory with a barcode scanner would save you a long headache and a lot of time.<\/p>\n\n\n\n

6. Rushing to prepare for tax time<\/h2>\n\n\n\n

Have you ever heard of the expression \u2018save time, save money\u2019?<\/p>\n\n\n\n

A dedicated system can help you save time by automating your process instead of manually entering data into a spreadsheet.<\/p>\n\n\n\n

There will be no need to rush at the end of the year to prepare for your audit because the data will be up to speed and compliant.<\/p>\n\n\n\n

Read more on fixed asset management:<\/h2>\n\n\n\n