Fixed Assets solutions can stem the hidden trickle
If your company has a high value in plant and machinery, are you maximizing the return on investment each year? The sad fact is that many companies don’t track the real value of fixed assets and this results in thousands of dollars being donated to the ATO and insurance companies.
Donated, I hear you say. Yes, when assets costs and values are not tracked sufficiently it’s like giving money away for no good reason. And like many small costs that go unnoticed, it’s another element that quietly erodes your net profit.
The best way to gain total control over your entire fixed asset life cycle ie:from acquisition to disposal - is with a fixed asset management solution that does 85% of the work for you.
Good asset management software should be simple to use and do things like: Allocating assets to groups; depreciating multiple assets at the click of a button; just as easily, revalue or dispose of assets; integrate with the general ledger; provide separate book and tax depreciation rates and allow percentage of private use calculations.
There are many stand alone solutions in the market. If choosing a stand-alone solution do your homework, make sure that it meets all your criteria, and it integrates with the accounting system.
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