Fixed asset accounting can be one of the more difficult items to figure out in the accounting world. It deals with not only the value of a product, but also with the value of that product’s services as well. A fixed asset is any business asset that exists solely for the use of commercial production. For example, if you run a floor cleaning business, a cleaner that you lend out to customers to use at home would be known as a fixed asset.
While that may sound a bit confusing at first, it doesn’t have to be. The proper software can crunch all the numbers and give you all of the data you need with little effort from you.