The importance of properly managing fixed assets is often overlooked by businesses.
Because of the time and manpower required to inventory and track fixed assets, this part of the business is often ignored.
Yet assets like land, buildings, transportation, and manufacturing equipment represent the largest investments most companies make.
While sound fixed asset management can lead to a substantial tax savings in depreciation deductions, poor fixed asset practices can threaten the accuracy of financial reports, causing re-reporting and negatively impacting the bottom line.
Establishing the highest standards of depreciation accuracy and best practices in fixed asset management will pay off in savings and efficiency whether you are :
- Corporate accountant managing fixed assets
- CFO striving to optimize business efficiencies and plan capital budgets
- Government asset manager complying with GASB 34/35 standards
- CPA providing tax, depreciation, and auditing services to your clients
- Nonprofit executive seeking to gain maximum leverage from already-strained resources
This white paper describes the sage Fixed Assets solutions which address the entire range of fixed asset management duties, not just depreciation for tax. Sage Fixed Assets customers also gain control over fixed asset inventory, construction in progress, and compliance.