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 tofixed asset management, automating the process by setting up a software-based system can yield dividends that are likely [...]

1.  What is the most common mistake when managing fixed assets? I would guess that the most common mistake might be applying the wrong depreciation method or life for tax purposes, or worse yet, failing to take advantage of tax law changes that allow them to write-off, or fully depreciation, the asset’s cost in the [...]

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! I don’t think there is a good reason, but maybe a lack of time to transition to fixed asset software. Or, they may think it’s too [...]

1. What is the most common mistake when managing fixed assets? A common mistake would probably involve assigning the appropriate method and life when categorizing the asset because it’s very difficult. Let’s go to the financial side of things for a moment. There aren’t any published recommendations for categories of assets, in terms of how [...]

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! I think the thing that they like best about spreadsheets is the flexibility, the way they can manipulate the data in the spreadsheet. The downside is [...]