1.  What is the most common mistake when managing fixed assets? Not managing your fixed assets or managing your fixed assets with the improper tool. To me those two are one and the same. For some companies, fixed assets are the 2nd largest expense after people related expenses such as salaries and benefits. Most companies [...]

  1. In your opinion, why on earth would a company continue to use a spreadsheet for fixed asset accounting?  It seems like doing so would lead to countless errors! Perhaps they are not from earth! But seriously, I’m a big believer in using the right tool for the right job. To me, using a [...]

Some companies associate the process of auditing their fixed assets with the idea that sinking significant time and money into the project is unavoidable. Although this is most likely true for those that take a manual approach to fixed asset management, automating the process by setting up a software-based system can yield dividends that are likely to [...]

Fixed asset registers help your company keep its asset holdings in order and are a crucial part of a successful fixed asset management approach. Using asset management software allows companies to easily store a variety of different data in one place, including depreciation and amortization information, the expected useful life of an item, maintenance history, warranty details [...]

Your company’s balance sheet is one of the most important documents it has. A balance sheet provides a snapshot of the assets, liabilities and owner’s equity held by a business at a particular time – usually the last day of the fiscal year, or the end of another accounting period. Balance sheets are an important [...]