When formulating a depreciation schedule, a number of factors must be addressed, including basis cost, expensing threshold, partial-year depreciation and salvage value. However, the depreciation considerations don’t end there. When establishing fixed asset accounting policies and procedures, your company also needs to take other eventualities into account, such as disposal/idleness, assets from a lump-sum purchase [...]

Setting up a successful small business is the product of hard work, a great idea and good business sense. However, entrepreneurs may be tripped up by fixed asset management if they don’t have a comprehensive system in place. To make sure this doesn’t happen, small enterprise owners may painstakingly go over the books manually, calculating [...]

When spreadsheets first came along, they represented a significant improvement over tedious manual fixed asset accounting procedures. However, times have changed and more comprehensive fixed asset management solutions such as specialized asset software have come along that make spreadsheets pale in comparison. Despite the clear advantages associated with upgrading to fixed asset software, some companies [...]

The bonus depreciation provision of the Tax Relief Act of 2010 was introduced to boost the economy in two ways. It created an incentive for businesses to make purchases from manufacturers that produce and sell fixed assets such as computers and machinery, and helped lower companies’ tax bills to stimulate hiring and expansion. Of course, [...]

If your company leases its fixed assets, it’s extremely important to have an adequate fixed asset tracking system in place. Affixing bar code labels to each item helps differentiate between them and allows a comprehensive body of information to be built for every individual asset. As with fixed assets that your company owns and uses [...]