Discover How to Streamline Your Fixed Assets Accounting Processes, Starting Now
Take a moment to think about the costs of your fixed assets. Not only are the initial investments for your buildings, land, and equipment quite substantial, the insurance and taxes for each of these also represent an extraordinary ongoing expense. These expenses can last for decades, and we all know that the longer something is on the books, the higher its margin for error.
In fact, fixed assets accounting in particular leaves a lot of room for error. When a company audits their fixed asset costs, they typically discover that their numbers are off by an average of 12%. This negatively impacts the balance sheets, limits cash flow, and obscures capital budgeting plans – leaving the average company struggling to stay agile in a tight economy.
Are you 100% confident that your fixed asset accounting is fully accurate? Access the “Best Practices for Fixed Asset Managers” white paper for actionable, expert tips you can use to improve your fixed assets management tactics, starting right now.
Why You Should Download This White Paper
Fixed assets command regular, straight-line depreciation for 5, 7, 15, or 39 years – a timeline that can seem like forever. In response, most companies don’t focus much attention on analyzing the evolving tax and insurance impact of these assets. Most fixed assets spreadsheets are plagued with problems such as siloed data, outdated numbers, and missing (“ghost”) assets.
Fixing these errors can lead to significant cost and time savings across the company, and the fix-up process doesn’t have to take much time. To get started though, you need a good guide.
“Best Practices for Fixed Asset Managers” is the guide you’ve been waiting for.
With this white paper in hand, you’ll understand:
- The 4 risks posed by ghost assets
- 3 different fixed asset methodologies you can follow
- Important labeling considerations, including label materials and features
- 3 critical fixed-asset tax tips to always keep in mind
- The 18 reports that improve insight into your fixed assets
- Top training considerations for better fixed assets accounting and management
- How to scale your processes as your business grows
When you audit your fixed assets, you are likely to discover that 65% of your fixed asset data is incomplete, inaccurate, or altogether missing. You will also likely discover that 10-30% of the assets you have on the books are no longer in your possession. Most companies do see results like this, so don’t panic.
There is a relatively easy and fast way to remedy these issues and keep your fixed assets accounting fully accurate in the future: transition away from spreadsheets and choose a dedicated fixed assets software solution. But you don’t have to do this.
To help you decide your best path, the white paper also includes key information on fixed assets software selection and evaluation, including:
- Key hardware and software considerations to keep in mind
- 18 must-haves for fixed asset software, according to CPA Practice Advisor magazine (fka CPA Technology Advisor)
- How to calculate ROI on a potential fixed asset software investment
Are You Ready to Improve Your Fixed Assets Accounting?
Whether or not you feel a fixed assets software solution is right for your needs at this time, our team of fixed assets experts recommend that you download the white paper. With 21 info-packed pages, it is the #1 guide you need when you are ready to start improving your business’s fixed asset management strategy.
You do not need fixed asset software to complete the steps in this guide. Just by following its proven 7-step process, you can reclaim lost opportunities and finally enjoy the tax- and insurance savings and agility you deserve from your fixed assets investments.
Serving clients since 1985, Paragon International, Inc. provides independent, impartial and accurate cost segregation analyses, and property valuations and appraisals to assist in and support decisions related to taxes, risk management, investment, financing and corporate planning. Our consultants have extensive fixed asset experience – they’re fixed asset experts. Because of that we are able to offer a unique combination of irreplaceable human resources and advanced technology. We have specialists experienced in valuing closely-held securities, patents and other intangible assets, business enterprises, buildings, equipment and real estate. In addition, Paragon provides complete inventory and asset management services and solutions, including software customization and training, barcode labels and scanners, and tailored inventory services such as data conversion and integration, asset inventories, asset policies, cost reconciliation, and appraisal services. Contact Paragon International to discover how we can help you.