Recent Articles

Reasons to implement an asset management program

Organizations need to ensure they are compliant with tax code changes made by the Internal Revenue Service regarding fixed assets. Enacted on January 1 of this year, the new rules focus primarily on repair of material investments and the appropriate deductions that are allowed by the organization. This was done to create a set of uniform and consistent guidelines for compliance that all owners of fixed assets can follow to ensure that they are operating within the established laws governing deductions for items used in business functions. The new policies instituted by the IRS are a good reason for a company to have an asset management…

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The benefits of standalone asset management software

A recent report from the South Jersey Times revealed that the city council in Vineland, New Jersey passed a proposal allowing the city to spend $4.8 million to improve many of its vital fixed assets. The funds were secured through a bond ordinance and the measure was passed unanimously by the city council, 4-0. "It's a great thing because, unfortunately, in many areas our vehicles have been depleted, buildings have been run down, and this is a move to make capital improvements to have our police in safe cars, have our firemen in safe fire engines and have our EMTs…

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Audits made easier with strong asset management practices

When fixed assets are stolen, it places a number of heavy burdens on the owners of these items. First off, if they're used for business purposes, operational efficiency can be negatively affected. It's difficult to conduct business-related activities without the proper tools. Another hurdle is replacing missing items. In many instances, this can be a long and tedious process, especially when it comes to making insurance claims. However, software for inventory management can help any organization rebound quickly from fixed asset theft. This solution can help identify any items that are not where they're supposed to be so that the recovery or…

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3 advantages of asset management software

Companies that rely on fixed assets for business purposes have a clear understanding that these items need to be properly maintained, protected and accounted for at all times to ensure the viability of their operations. When it comes to implementing an asset management program, many decision-makers may not understand the value of proper accounting practices and how much money can be saved by utilizing the proper solution. There are a number of inventory management software packages on the market today, all designed to help companies maintain a level of profitability with respect to the use of fixed assets. However, before a…

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Ohio youth sports league has $14,000 in equipment stolen

Ohio has a proud football tradition. Many Ohioans​' love of the game often starts at the grassroots level by competing in organized youth leagues. However, no matter the strength of the competition, football is a high-impact, contact sport where injuries are all too common. It is for this reason that protective football equipment is required at the youth level, and these necessary fixed assets are often provided to participants by league organizers. Creating an environment for kids to compete while having fun and staying safe is a focus of emphasis for many youth leagues – not just in Ohio. And if equipment…

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