In the world of accounting, the savings potential of improved fixed asset management is often overlooked, yet sound fixed asset management can yield substantial tax savings in depreciation deductions.
The goal of this paper is to help you learn about best practices for fixed asset management and suggests tips for implementing them in your organization. These best practices will help you to seek out potential savings in your fixed asset base and show you how to save time in the process. The suggestions will guide you in how to:
- Establish an accurate baseline of fixed assets
- Select the right tool for the job
- Rely on accurate depreciation calculations
- Stay up to date with legislative changes
- Produce targeted financial reports
- Get trained on the system you employ
- Add modules or services when appropriate
In the final section, you will be introduced to the Sage line of Sage FAS Fixed Asset solutions and learn how these fixed asset management tools can build the foundation of your future best practices.