What is a fleet asset register?

What is a fleet asset register?

A fleet asset register includes details of all commercial vehicles in the fleet, including registration numbers, purchase dates, and planned replacement dates. At its most basic level, a register is a paper log or a filing cabinet. However, today a fleet asset register can be a computerized fleet maintenance software package or a standalone asset management system.

Why do fleets keep asset registers?

Registers help fleet managers with asset management. It helps them keep track of all their fixed assets such as equipment, fleet vehicles, buildings, and more. (This is called a fixed asset register.) Here are a few reasons keeping a register is important:

1. Simplify recordkeeping

Fleet asset registers simplify recordkeeping. They keep track of valuable information in one place, enabling the register to become a reference for fleet management. Having a fleet asset register is also useful for tax purposes as it helps managers track asset values that fluctuate over time and tax liabilities. 

2. Calculating depreciation

By tracking fixed assets, organizations can calculate depreciation for tax and insurance purposes. Maintaining a register makes it easier for accountants to view factors that contribute to depreciation, such as mileage and repairs. By calculating depreciation, fleets can figure out resale value when they want to sell an asset.

3. Tracking and inventory

Companies use registers for asset tracking across departments and jobs. By completing regular inventory audits and updating the fleet asset register, organizations can verify the status of everything they own. This information also helps with procurement planning and servicing.

What kind of information is in a fleet asset register?

Because a fleet asset register incorporates a large amount of detailed information for recordkeeping, acquisition, and depreciation purposes, tracking the right information is essential. Here are some commonly documented fields:

• Vehicle date of purchase: Including month of purchase. This data helps determine resale value. Organizations will also want to include the warranty expiration date.

• Registration: Vehicle history reports are tied to registrations and vehicle identification numbers (VIN). Businesses should document any registration or vehicle-renewal dates as well.

• Mileage: The initial odometer readings on purchase, which impacts service and replacement lifecycle.

• Driver details: If a driver is assigned to the vehicle, their license number and any other associated information.

• Vehicle cost center: Fleet vehicles carry costs. The cost center shows how that cost is allocated.

• Vehicle tasks/vehicle assignment: Describing what the vehicles are used for—city sales call, deliveries, hauling etc.—helps fleets plan buying and replacements.

• Service dates: Keeping track of service dates helps with planning preventive maintenance and minimizes downtime.

• Part replacement dates: Parts that regularly wear down and need replacement, such as tires, wiper blades,  oil changes, and batteries, should be tracked. Monitoring replacements can also identify potential bad driving behavior.

• Maintenance costs: Scheduled and unscheduled costs need to be recorded with what work was needed.

Transform vehicle maintenance with Samsara's Connected Asset Maintenance solution

A fleet asset register is an important tracking system that helps to optimize fleet maintenance, driving operational efficiency and improving the bottom line. Without streamlined fleet operations, it may lead to massive challenges, such as:

• Inaccurate work tracking: Inefficiency work changes and reactive maintenance lead to backlogs and missed sign offs.

• Difficulty tracking costs: Labor and parts are not logged properly and invoices are entered manually, leading to incomplete cost assessment.

• Confusion from multiple systems: Maintenance work and asset statuses are tracked in different systems, making route planning difficult.

To improve profitability and extend the vehicle lifespan, modern organizations are adopting innovative fleet management software like Samsara’s Connected Asset Maintenance solution. With Samsara, fleets can leverage AI technology and real-time data to save time and boost utilization, track costs for deeper insights, and consolidate systems for streamlined workflows—driving efficiency, savings, and a resilient, profitable fleet. Some benefits include:

• Accelerate work order creation with real-time fleet data: Inputting an asset number automates the population of key work order details, resulting in a process that takes less than a minute to complete and submit. 

• Unlock deeper maintenance insights: Track costs and and proactively identify problem areas, enabling you to improve uptime, reduce unplanned maintenance, and minimize downtime.

• Consolidate systems and processes: Gain a holistic view of your maintenance operations on a single dashboard and streamline workflows with native integrations and third-party APIs.

• Reduce manual work and improve maintenance with AI: Leverage industry-leading AI to surface fault codes, customize repair instructions, analyze invoices, and automate work order creation from scanned vendor documents.

Learn how Samsara can help you improve fleet maintenance by checking out our Vehicle Telematics solution and get in touch with our team today.