Business News and Notes
Content provided by the accounting firm of Dorfmann-Robbie specializing in construction accounting.

7 uses for tool-tracking software

By combining inventory control and accounting functions, tool-tracking software offers some great advantages. Here are seven examples of what you can do with these systems:

1. Create a list of tool information, such as descriptions, warranties, purchase dates, costs and maintenance schedules.

2. Generate a report of employees or job sites responsible for small tools.

3. Assign tools by employee name, job code, project number, date, time, location or other criteria.

4. Inventory items individually or by class.

5. Locate and reassign unused tools.

6. Foster an atmosphere of accountability by making managers and employees more responsible for these assets.

7. Track and bill tools to the projects on which they were used.