Accounting Software and Technology
Potential risks associated with manual fixed asset inventory accounting
No matter how thorough managers may be when manually tracking and calculating fixed assets inventory accounting data and composing the company’s balance sheet, the chances of error throughout the professionals’ processes are too great to put the organization’s finances and reputation at risk. While many may perceive fixed asset inventory management services and solutions as a tool only [...]
Preparing staff for the adoption of fixed asset management software
Centralizing fixed asset inventory management with the right technology is an important step for businesses for several reasons. By implementing software, companies can significantly reduce the amount of time and manpower needed to track and account for items, cut insurance and tax costs, prevent loss and theft, improve budgeting and better prepare for natural disasters and [...]
Improving Equipment Management Skills To Faciliate Fixed Asset Accounting and Tracking
Company leaders in charge of supervising equipment, tools and facilities are tasked with myriad responsibilities. As economic uncertainty is leading many companies to tighten their purse strings and cut operational costs, inventory accounting is an especially complex job. Fixed asset management solutions can help businesses efficiently track property and minimize expenses to facilitate equipment management [...]
Another day at the spa. Ahhhhhh. Wait, are those fixed assets?
Abiding by strict sanitation codes and keeping up customer satisfaction are essential to business growth for salons and spas, and equipment is at the center of both. Whether their service offerings are limited to manicures and pedicures or vary from tanning bed sessions to massages, salons and spas have numerous fixed assets to keep track [...]
Tracking your furniture- Yes, chairs, desks, and lamps are fixed assets, too.
While decision makers may not realize it, owning furniture can cost more than purchasing it if they are not managing their fixed assets efficiently. Desks and chairs get used just as frequently as machines and computers, but companies sometimes forget the former are just as valuable to the business cycle as the latter. Keeping track [...]