Always Losing Your Tools? Check Out These Bookkeeping Tips!

Bookkeeping

Are you always losing your tools, especially if you have several jobs going at once? It’s a costly problem that could be solved with a simple tool tracker. Here’s some tips on how to get started, with a great freebie attached!

To get started, make a list of all the tools that you own, even the smallest tool counts. Count how many you own and include this on your spreadsheet. If it helps, also include what these tools are used for and/or how to maintain them. Although you may not need this info, any new hires might appreciate the tips.

When you have all this listed out, it’s time to put it on a spreadsheet (you could also start with this). You’ll need a column for Tools, Number of Tools, and, if needed, Use of Tools. An extra column you’ll want to include is called Projects, where you’ll put where each tool is located, even if they’re just at your home base. If you use Projects with your Quickbooks Online, then it’s important to put the same name on your spreadsheet. It’s important to add as much detail as possible so that you’re able to double-back if you find that you’re missing something.

(I went ahead and got you all started with this freebie Tool Tracker. You’ll need to go to File, Make a Copy, and save it to your Drive and then it is yours to use!)

This tracker is a great way to save money, time, and help your employees know the best tool for the job. No more unnecessary trips to Home Depot while on a job! If you also include when was the last time you maintained your tool, this could help prolong the life of your tools!

P.S. This tracker can also be used by anyone who easily forgets where they placed their stuff (?‍♀️).

How do you keep track of your tools? Let me know in the comments!

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