Conducting an asset audit doesn't have to be a laborious and error-prone process. With the right software, such as AssetPad, you can streamline this critical business operation, ensuring accuracy and ease. This guide will walk you through the steps needed to conduct a comprehensive and effective asset audit using AssetPad.

1. Understand What an Asset Audit Entails

Before jumping into the process, it's important to grasp the basics. An asset audit involves accounting for all of a company's tangible and intangible assets, ensuring they are correctly logged, valued, and managed.

2. Gather Existing Asset Information

Begin your audit by gathering all existing data about your company's assets. This might include details about acquisition dates, asset values, locations, and conditions. Use AssetPad's import feature to add all this data into the system swiftly and efficiently.

3. Identify and Tag Assets

Next, you need to identify and tag all of your company's assets. AssetPad provides unique asset tags, which can be attached to physical assets. This allows each asset to be easily identified and tracked within the software. If you're dealing with intangible assets, create a unique identifier for each one.

4. Input Asset Information into AssetPad

Once your assets are tagged, it's time to input all relevant information into AssetPad. This includes the asset's name, category, cost, acquisition date, location, condition, and any other pertinent details. With AssetPad's intuitive interface, this step is a breeze.

5. Conduct a Physical Verification

For tangible assets, conduct a physical verification to ensure all items are where they should be and in the condition expected. Use AssetPad's mobile app to scan asset tags during your walkthrough, updating the status and location of each asset in real time.

6. Review and Update Asset Values

Ensure the values of your assets in the system align with their current market values. This may require external valuation for some items. Updating asset values as part of your audit ensures your company's financial records remain accurate and up to date.

7. Generate Reports

Once all assets have been logged and verified, use AssetPad's reporting features to generate comprehensive asset reports. These reports provide a detailed overview of your asset portfolio and can assist in decision-making, planning, and regulatory compliance.

8. Regularly Update Your Asset Records

An asset audit isn't a one-time event but an ongoing process. Regularly update your asset records in AssetPad as assets are acquired, retired, or change in value. Regular updates ensure your asset data remains accurate and reduces the work involved in future audits.


Conducting an asset audit with AssetPad streamlines what can otherwise be a complex and tedious process. By using AssetPad's comprehensive asset management features, businesses can maintain accurate asset records, ensure regulatory compliance, and make informed decisions about asset management. Remember, an effective asset audit is about more than just accountability - it's about gaining valuable insights into your company's resources.