Archive: Apr 2012

Managing a School District’s Fixed Assets

Chances are, you associate fixed asset management with private companies or perhaps government agencies. Indeed, it’s important for the property, plant and equipment held by such organizations to be managed effectively. That said, recording and maintaining accurate, timely fixed asset data is also crucial for other entities as well, such as school districts. Like companies, school districts have a host of fixed assets on their books at any given time. These range from classroom furniture to the buildings in which tables, chairs, computers and more are housed. Failure to have a fixed asset tracking system in place can quickly compromise a district’s balance…

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Still Using Spreadsheets? Upgrade to Fixed Asset Software Today!

If your company uses spreadsheets for fixed asset tracking, chances are you’ve heard there are better alternatives but are reticent to switch. This could be due to financial concerns or the simple unwillingness to upgrade your fixed asset management system. But what if you knew specialized fixed asset management software can actually save you money by reducing depreciation inaccuracies? The thing is, nearly all spreadsheets contain errors. These could be related to the formulae used or the data entered, and their likelihood is only exacerbated by the fact that spreadsheets are typically handled by more than one person, with workers assigned to different asset…

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Ensuring Fixed Asset Accuracy Across Your Organization

There’s often a lack of cohesion between the fixed asset register kept and maintained by your company’s finance department and the lists used for inventory tracking purposes across the rest of the organization. Finance departments are typically focused on recording a fixed asset’s value for the purposes of depreciation, and may not take into account the number of component parts. This works fine for finance’s primary objective, but it doesn’t allow fixed asset tracking throughout items’ life cycles. Without a fixed asset tracking system in place, your company runs the risk of misplacing some of its holdings or providing the opportunity for items to be…

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The Benefits of Having Control Over Your Fixed Asset Register

Those charged with helping to run a company are no doubt aware of the need to engage in comprehensive fixed asset tracking. But what’s so important about fixed assets anyway? Simply put, having a fixed asset management system in place allows your organization to maximize its asset base, which is extremely valuable to the business. Asset management software offers a company-wide look at the organization’s fixed asset holdings, which will help to ensure that new items aren’t being purchased when existing, serviceable assets are already available. Conversely, having complete records also allows you to identify ghost assets – those that are still on the…

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How Fixed Asset Software Can Help Your Company Recover From The Recession

With the help of provisions such as the 100 percent bonus depreciationstimulus of 2011, some companies are starting to get back on track financially in the wake of the recession. That said, there’s a long way to go, and many are still struggling to cope with the continued effects of the economic downturn. In times of financial uncertainty, companies are looking to save every dollar they can. Fixed asset management software can help streamline workflow processes, reduce the time associated with fixed asset accounting and ultimately save businesses money. If you don’t use a fixed asset software solution, chances are you keep multiple asset…

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