Why do I Need a Business Inventory?
1/25/2012 12:45:00 AM
Do you have an up-to-date, accurate inventory of your business assets and property? A business inventory is a useful document that can save money, time and trouble. Calculating the level of Pennsylvania business insurance coverage you need is simple if you have a business inventory, and the document becomes a useful checklist of business assets and helps you to identify losses if a burglary, fire or other disaster affects the business.
What should a business inventory include?
•It should have a full description of each asset, with details of model, brand and serial number.
•Documents like purchase receipts that prove ownership and purchase price of assets should be included.
•You might want to consider including photographs of unique, customized items like shop fittings and signage.
•Installations like air conditioning systems, light fittings and security devices like monitors and burglar alarms should be included in the inventory.
There is no standard format for business inventories but a business inventory in spreadsheet form can be quickly and easily updated so that the current value of business assets can be calculated. Using the business inventory as a checklist can help to avoid the risk of omitting lost or damaged assets from your Pennsylvania business insurance claim. Don’t forget to keep a second copy of the business inventory in a safe place away from the business premises.
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What should a business inventory include?
•It should have a full description of each asset, with details of model, brand and serial number.
•Documents like purchase receipts that prove ownership and purchase price of assets should be included.
•You might want to consider including photographs of unique, customized items like shop fittings and signage.
•Installations like air conditioning systems, light fittings and security devices like monitors and burglar alarms should be included in the inventory.
There is no standard format for business inventories but a business inventory in spreadsheet form can be quickly and easily updated so that the current value of business assets can be calculated. Using the business inventory as a checklist can help to avoid the risk of omitting lost or damaged assets from your Pennsylvania business insurance claim. Don’t forget to keep a second copy of the business inventory in a safe place away from the business premises.
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