As the case with most Accounting packages out there, fixed asset management is not a focus when vendors develop ERP solutions. Although they are quite fabulous at integrating financial information and automation, the depreciation piece isn’t as robust as it often needs to be — especially for tax depreciation.
I am starting to see a trend with companies who are using ERP accounting solutions and are making the switch (or researching to) a third party fixed asset package. The word on the street is: when trying to keep up with the current tax depreciation methods, laws and bonus depreciation, their ERP fixed asset module isn’t cuttin the mustard.
No need to worry any longer, the Sage FAS solutions can assist you in keeping compliant with your depreciation as well as provide you with the following benefits:
- Regular tax updates – ERP system struggle with these
- More robust fixed asset management functionality
- Cost savings – you don’t need an ERP Consultant to update your customized system
- Knowledgeable support from depreciation experts
- Enhanced compliance for SOX, GASB, property taxes and insurance
While fixed asset management is a tiny part of what ERP research and development teams work on, it is the exclusive focus of dedicated fixed asset systems such as Sage FAS. The Sage FAS development, quality assurance, professional services and customer support teams all receive extensive training in the intricacies of deprecation — which includes a staff of CPAs!
All this sound to good to be true? Don’t fret… you can have your cake and eat it too, for there are many ways to get your ERP to integrate with the Sage FAS solutions — it just depends on your internal processes.
Keep being crazy with your fixed assets!