Fixed Asset Accounting Help Tips
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Choosing fixed assets software
Fixed asset software offers you the chance to monitor your fixed assets automatically, saving you and your business time and money. You should look for some of the following features in your Fixed Asset Accounting software:
* Asset Tracking
* Barcoding and Inventory Tracking
* Depretiation
* Maintenance Management
* Replacement/Spare Parts
* Purchasing
Managing fixed assets
Fixed asset management can be automated by accounting software so that you can track your tangible assets, like property or computer equipment. The software will also calculate depreciation automatically, a key component in accurately tracking your fixed assets and saving you from pulling out your hair.
By automating fixed asset management you will save time and money; you can concentrate of doing your business, and stop worry about loosing the chair from under you.
Accounting Fixed Assets
Managing your fixed assets requires acknowledged depreciation proficiency and a user friendly interface that can be customized with the functionality your company needs.
You should have the ability to conduct:
• Partial and whole transfers of assets
• Disposal of assets (including bulk asset clearance with an automated gain/loss calculation)
• Track asset transfer activity
• Security features at the server, company and user levels
• User defined terms for each individual asset to ensure consistency throughout your asset system
Understanding Fixed Assets
What is a fixed asset anyway? In terms of business, a fixed asset is defined as:
A long-standing, material asset used for your business that is not likely to be converted to cash in the present fiscal year. These assets can include items such as equipment (manufacturing, technical etc.), property, and even office furniture.
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