The purposes of this study were to design and develop the web service for fixed asset tracking and stock taking. Both theoretical and practical concepts were examined in order to apply them during significant part of service's life cycle covered in this thesis, from the very first analyses to the first production release. Primary goal of this study was to design the service and get it ready for the basic usage. Secondary goal was to document the process of designing and developing the service. Involved methods, practices and technologies were described. These goals were achieved using analytical methods and executive skills. In addition to development of web service itself, most important contributions of this thesis include supplying an in-depth study of web service design and development structured as a step-by-step tutorial.