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Workday Business Assets combines the traditionally separate domains of fixed assets and inventory with the ability to manage high-value, low-cost items such as mobile phones and security badges. Just because these items are small and inexpensive doesn’t mean they aren’t important to your business.

With Workday Business Assets, you can:

  • Manage your asset roster, depreciation, and lifecycle accounting
  • Define, track, and account for both tangible and intangible assets
  • Track low- and zero-cost items that have high value or liability (e.g., mobile devices or security badges)
  • Assign custody and responsibility of items to workers to prevent cost leakage and security risks due to worker turnover

The world of “assets” has changed significantly since traditional Fixed Asset systems were designed and deployed. Assets used to be large, expensive, and “fixed” to the floor. While traditional Fixed Asset systems managed the accounting of large, immobile assets, they were never designed to help companies manage the high-value, low-cost assets that so many businesses now rely on such as laptops, cell phones, web-conferencing accounts, and other “utility belt” items that are often provided to workers today. Just because these items are small and inexpensive doesn’t mean they aren’t important to your business.

The key to business asset management is the separation of business asset accounting from business asset tracking. By separating the accounting and tracking processes and decisions, it allows all business assets to be accounted for according to accounting rules and tracked according to business use.

Business Asset Accounting

  • Multiple accounting treatments. Choose the appropriate accounting method: capitalize and depreciate/amortize, stock and issue, or one-time or recurring expense.
  • Lifecycle accounting. Create appropriate accounting for all asset lifecycle events including acquisition, transfer, and disposal.
  • Automated depreciation/amortization. Define depreciation parameters by asset type, such as useful life, depreciation method, or posting convention. Automatically set up depreciation schedules upon asset acquisition. Post depreciation expense and manage accumulated depreciation.

Business Asset Tracking

  • Track and manage any business asset by how it’s used. Whether the business asset is a cell phone, cell phone plan, laptop, building, WebEx account, or product inventory, Workday allows you to invoke inventory management activities and controls such as stock, issue, and return for assets with the same level of physical tracking traditionally available only in Fixed Asset systems.
  • Track zero cost items. Track items, such as security badges, that have no individually trackable cost but for which physical tracking is crucial.
  • Assign custody and responsibility. Create a reportable link between issued business assets and the receiving worker. Make custody assignments a required step in the worker on-boarding process.
  • Reclaim business assets. Business assets that “walk out the door” when an employee leaves the company are a significant cost leak and security risk for most companies. Business Asset Tracking makes it easy to reclaim business property from a worker upon their separation from the company.

Other Applications

The following applications are designed to work hand-in-hand with Business Assets:

"Business Assets" is part of the Workday line of products, developed by Workday, Inc..