What is a fixed asset register and why should a business maintain one?

A fixed asset register is a detailed list of every long-term asset the business owns, such as machinery, computers, furniture and vehicles. For each asset it usually records a description, purchase date, supplier, cost, location, depreciation method and rate, accumulated depreciation, and the date and value of any disposal.

It lets you tie the asset totals in your books to the physical assets, calculate depreciation correctly, and spot missing or disposed assets. Auditors typically ask for it, and it also supports your insurance and loan documentation.