Manage every asset with fixed asset software

Fixed assets are tangible and intangible assets expected to provide economic benefit to a company over the long term (greater than 12 months).

Examples of tangible fixed assets you may see daily in your organization are buildings, vehicles, computers, chairs, and desks. Intangible assets include patents, trademarks, goodwill, and copyrights. One trait that all fixed assets have in common is a useful life greater than one year.

Fixed assets management is the process of tracking and maintaining an organization's tangible and intangible fixed assets for financial and tax accounting, depreciation, maintenance, and physical location purposes.

Since fixed assets are a critical part of a business's profitability, using spreadsheets to track valuable company property can be inefficient and even risky. Spreadsheets are prone to errors, have the potential for data loss, have limited reporting options, and do not readily provide the flexibility to record complex transactions and changes in asset location. 

Fixed asset software such as Sage Fixed Assets makes it easy to record asset purchases, transfers, disposals, and update asset location. By using a fixed asset solution that accurately tracks all details related to fixed assets, businesses can lower insurance costs, avoid regulatory non-compliance fines, and save money when updating equipment.

Some of the leading accounting and ERP solutions offer asset depreciation; however, they aren't built to manage the complex and complete lifecycle of fixed assets. ERP solutions also struggle calculating depreciation for both GAAP and tax compliance or other purposes if needed. Sage Fixed Assets complements accounting and ERP solutions because it is built from the ground up to manage the complete fixed asset lifecycle and integrates seamlessly with most general ledgers, reducing the risk of double entry and human error.

To get the maximum benefit of your fixed assets, look for fixed asset software that offers:

• Full lifecycle management – acquisition, depreciation, transfers, disposals, construction in progress (CIP), and tracking, including barcode tracking.
• The latest and most accurate tax and GAAP rules and calculations.
• Robust financial reporting, including general ledger posting, depreciation expense, and roll-forward reports for reconciliations.
• Accurate tax reporting with annually updated IRS Forms 4562, 4797, and others.
• Flexible deployment options and integration links with other software to continue to do business your way–whether that's on-premises or in the cloud.

Sage Fixed Assets is ready to use after installation, and you can start customizing preferences, setting up templates, and adding assets groups easily. Going a step further, you can create custom depreciation methods.

For more extensive customizations such as custom reports and integration assistance from Sage Expert Services, contact your Sage Account Manager for more information and related pricing.