Archive for July 2022
The Benefits of Physical & Fixed Asset Management
In a world where organizations are always looking for new and innovative ways to stay ahead of the competition, it’s important to consider all aspects of your company that could be improved. One area that is often overlooked is asset tracking. In this blog post, we’ll explore the benefits of fixed asset management and how…Read More
The Importance of Fixed Asset Inventories
Implementing a fixed asset inventory solution is vital for organizations for many reasons. A proper accounting of assets can save time and money, reduce theft, improve planning and budgeting, eliminate “ghost and zombie assets,” and help an organization recover after a natural disaster. Often times, however, the importance of fixed asset inventories is overlooked in…Read More
Mastering Your Fixed Assets: Comprehensive Fixed Asset Lifecycle Planning
The process of managing a fixed asset begins before the asset is acquired. Companies and their fixed asset managers need to think about the entire fixed asset lifecycle – from acquisition to transfer and ultimately disposal. Unfortunately, that isn’t always the case. Elephants in the Room: Fixed Assets In the world of accounting, the potential…Read More
What Is Fixed Asset Depreciation?
Fixed assets are company assets that have an expected useful life of more than one year, such as buildings, office equipment, or machinery. Over time, these items depreciate in value until they have been reduced to their minimum resale value (“salvage value”). Because you can use these assets over a few years, you can also…Read More
What Are the Challenges Faced with Fixed Assets?
Fixed asset management is a complicated process because organizations do not exact the location of their assets. As a result, when fixed asset physical verification is done organizations find that their lots of assets are in some other location or missing. What Is Fixed Asset Physical Verification? Fixed asset physical verification is the responsibility of…Read More