Every business has accounting, tax, and other financial needs, and you most likely use software to handle those needs. With tax time possibly coming up for you, and with employees’ personal taxes due by the end of April, this is the perfect time of year to consider how your software solutions affect your taxes.
Topics: ERP, depreciation calculations, accounting, enterprise resource planning, taxes, tax laws, john shepperson, oates co, financial software
What is one of the biggest items on your balance sheet? Your fixed assets. Did you know that you could identify potential savings among your fixed assets through a first-rate fixed asset accounting system?
Topics: depreciation calculations, fixed assets, compliance, fixed asset accounting, accounting, john shepperson, oates co, regulatory compliance
At first glance, keeping track of the value of your company's fixed assets looks like a simple task. Dig a little deeper, however, over a longer period of time, and you will notice how much your fixed asset values fluctuate. There are a host of factors that contribute to this fluctuation, and you’ll see that sometimes they’re a bit arbitrary – no two categories of assets depreciates at the same rate and even assets in the same categories can depreciate at different rates.
To simplify th
e process of fixed asset valuation, many managers think about assets as having a life cycle, much like that of a frog or a fish. Just like animals have unique life cycles that are shaped by their environments, assets have unique patterns of value and depreciation that are also shaped by their environments.
Topics: Sage, depreciation calculations, fixed assets, sage fas, john shepperson, oates co, life cycle, asset valuation
For any company, across all industries, assets like land, buildings, transportation, and manufacturing and computer equipment represent the largest investments made. Establishing the highest standards of depreciation accuracy and best practices in fixed asset accounting management will pay off in savings and efficiency and reduce losses.
Topics: Fixed Asset, Inventory counts, long range planning, depreciation calculations, accounting
