Assets issued to employees
Laptops, phones, SIM cards, keys and uniforms go out on a request that is approved, handed over and acknowledged by the employee. When they come back damaged or not at all, the charge is recovered from salary, at once or in monthly instalments.
PLANSFrom Growth
The problem it solves
- Nobody can say who holds which laptop, because the list lives in the IT person's spreadsheet.
- An employee says the phone was never given to them, and there is no signed receipt.
- A leaver goes with the company's laptop, and the full and final was already paid.
- A damaged laptop is written off because recovering the cost from salary means a separate note to payroll that never gets made.
How it works
- Each asset is a piece of equipment in the register, with its category, serial number and whether it is returnable. Things given for good, such as a uniform, are marked not returnable.
- The employee, their manager or HR asks for an asset: they choose the employee, an available asset and the reason (new joiner, additional, replacement). The request shows as Requested.
- The request goes through the Asset request approval chain: the equipment manager or HR by default, or the levels you set. Nobody decides a request about themselves.
- HR or the equipment manager clicks Hand Over with the Condition Given. The employee is told and clicks Acknowledge Receipt, on the web or in the app; the time is recorded.
- When the asset comes back, Receive Back records the condition: good, damaged or lost. For damage or loss you enter the amount to recover and over how many months.
- The amount becomes a recovery loan that is sanctioned at once and deducted from salary from the next month. A lost asset leaves the register as scrapped.
Everything it does
Requests and approval
- Reasons: New joiner, Additional, Replacement
- Only assets that are available can be chosen; an asset cannot be with two people at once
- Who can ask: the employee for themselves, a manager for someone in the team, HR or the equipment manager for anyone
- The person who asked can change or cancel the request only while it is not decided
- States: Requested, Approved, Issued, Returned, Rejected, Cancelled
- Approve or Reject by the approval chain Asset request; the default level is the equipment manager or HR (Asset Incharge)
Hand over and acknowledgement
- Hand Over records the date, who issued it and the Condition Given (new, good, fair), and puts the asset on the employee in the register
- The employee clicks Acknowledge Receipt; the date and time are kept
- Each issue keeps who asked, who approved, who issued, the acknowledgement and notes, with a history of every change
Return, damage and loss
- Receive Back: condition Good, Damaged or Lost, Recover From the Employee (amount), Over (months), note
- A charge on damage or loss becomes a recovery loan in the employee's loans, sanctioned at once. It starts the month after the return, in the instalments chosen
- The issue shows the recovery it made
- A lost asset is marked lost and scrapped in the register; a returned one is available again
On exit
- A clearance department marked Lists the Assets Held gets a checklist of the returnable assets the leaver still holds
- Returnable assets not returned show as open items before the full and final
- If you also keep software licences in the system, relieving an employee frees every licence seat given to their login, noted on the separation
Lists and import
- Assets Issued with filters With Employees and To Approve; group by category
- The Assets tab on the employee, and Assets Held in Employee 360 for the manager
- On each piece of equipment: returnable, its status (Available, With an employee, Lost) and the issue history
- Go-live import sheet Assets With Employees: employee code, asset, serial or tag number, category, model, date given, condition, value, to be returned, note. One serial cannot be on two people
Roles
- Asset User: every employee, for the assets they hold; they confirm receipt
- Asset Incharge: issues, takes back and tracks the assets of their Entities; HR managers have it
- Asset Manager: Asset Incharge plus set-up and deleting; the HR head has it
- The equipment manager of the Maintenance app can approve, hand over and take back too
Who uses it
EmployeeAsks for an asset, acknowledges what is handed over and sees what they hold under My Assets.
ManagerAsks for assets for people in the team and sees what the team holds and has asked for.
HR or equipment manager (Asset Incharge)Approves, hands over, receives back, and sets the recovery for damage or loss.
PayrollSees the recovery loan and deducts the instalments in the pay run.
Where you use it
- Web: Employees > Documents and Assets > Mine > My Assets and Assets Issued, and the Assets tab of the employee
- Web: the equipment register, with the returnable flag and the asset status on each piece of equipment
- The SmartMy HRMS app: Assets with me (acknowledge receipt) and Team assets for managers. Also Assets in HR work to ask, approve, hand over and take back (built and in testing, not in the app stores yet)
- Not a fixed asset register: depreciation and the asset's book value are not kept here
What you control
Settings
- Returnable, per piece of equipment: on to start with
- The Asset request approval chain per Entity: the equipment manager or HR by default, with levels you add
- Lists the Assets Held, per exit clearance department: off to start with
- Recovery: amount and number of months chosen at each return (1 month to start with)
Approvals
- Asset request: one chain per Entity; the equipment manager or HR by default, with levels you add. The person the request is about never decides it
Notifications
- Asset Handed Over: to the employee, asking them to acknowledge receipt, in the app, by email and as a phone notification
- Approvers get each request waiting for them in the approvals inbox
- Each person can switch off a channel, such as email, for themselves; in-app notices always arrive
Questions
Can an employee ask for an asset that is not in the register yet?
No. A request names a piece of equipment that is available in the register. Add the laptop or phone to the register first, then ask for it.How is damage recovered from salary?
At Receive Back you choose Damaged or Lost, enter the amount and the number of months. A recovery loan is made and sanctioned at once, and the instalments are deducted from the next month's salary.What stops a leaver from taking the laptop?
The exit clearance can list every returnable asset the person still holds, and unreturned assets show as open items before the full and final. Things marked not returnable, such as a uniform, are not asked back.We already have assets with employees. Do we enter each one?
No. The go-live import has a sheet Assets With Employees: one row per asset with the employee code, serial number and date given. Each row becomes an asset already issued, without a request or receipt.Which plan has assets?
Growth and Scale. Starter does not include them.Related features
LETTERS, CARDS, DOCUMENTS, ASSETSEmployee documents, letters and ID cardsKeep each employee's documents with scans and a reminder 30 days before one expires, and track the original certificates you hold and lend back. Issue letters from templates with a QR code anyone can check, and print ID cards with a re-issue charge taken through payroll.LOANS, INCREMENTS, BONUSLoans, advances and recoveries from salarySalary advances and staff loans with your eligibility rules, interest free, flat or reducing balance, recovered through payroll with EMI holidays, pauses, top-ups and foreclosure. Canteen, hostel and shop purchases come off the same payslip, and whatever is left is settled at exit.EXITResignation, exit interviews and clearanceAn employee resigns, or HR records a termination, retirement or other separation. The notice comes from your policy, the manager and HR approve, every department clears the leaver, and the exit interview is on record.EXITFull and final settlementOne settlement brings together what you owe the leaver and what they owe you. It covers held salary, leave encashment, notice pay or recovery, gratuity, loans, clearance dues and the final TDS. HR approves, then accounts, then payroll marks it paid.ACROSS SMARTMY HRMSApproval chains and one approvals inboxEvery HR request, from a day's leave to the full and final, goes through its approval chain and waits in one Approvals inbox. Levels, approvers, reminders, escalation and stand-ins are settings you control, per Entity and kind of request.LINKS AND PLATFORMGo-live import from ExcelBring your employees, their PAN, UAN and bank accounts, opening leave balances and this month's attendance in from one Excel workbook. Starting mid-year, add the months already paid, open loans and the assets people hold, so tax and payroll are right from the first run.
See your own month run in it.
Tell us how many people you have, how you take attendance and how your salary is structured. We will show you SmartMy HRMS set up that way.