Did you know there are MANY uses for a fixed asset solution? Yes, other than just depreciating on capitalized assets.
Ways to increase your internal return on investment on an automated fixed asset software solution:
- Depreciation: Get out of those multi level, multi workbooks and most of all multi calculation – formula driven errors!
- Tax Compliance: Keeping up to date on federal tax depreciation rules and bonus depreciation calculations.
- Sales Tax: Tracking sales tax amounts for Sales Tax reporting and state audits.
- Property Tax Reporting: Keep track of expensed items in the same place. You can group your assets together by “capitalized or expensed” for additional property reporting.
- Paper Trails: for adjustment and balancing audits, disposal, transfers, impairments, etc.
- Paperless: you can scan take photos and attach those to the assets (capitalized or expensed) in the same system! Whoa!
All of this and more can be captured, performed and tracked in ONE system – not multiple places. After all this… I am pretty sure the cost of a fixed asset depreciation system will pay for itself the very first day you get your data in it!