The accounting classification term Fixed Assets always struck me as odd.  It is used to label something of value that is going to stick around awhile. But is it really fixed?  Staying in the same place? Repaired? What are we talking about here?

In reality Fixed Assets never stay the same, always depreciating, moving around, stolen, broken, worn out. Yes, if it is a building, a common fixed asset, it is unlikely to be moving anytime soon, but what about a flood, fire, earthquake, or just the paint or roofing aging. It is changing. Office equipment gets moved around, breaks. A car or a truck, they can go anywhere, and ware out. etc. They depreciate.

Yes, I know the accounting definition: “Fixed assets, also known as tangible assets or property, plant and equipment (PP&E), is a term used in accounting for assets and property that cannot easily be converted into cash.” But that is only half the story.

Your company may have at least $100,000, or more than $1,000,000 in fixed assets, all that value. Are you really keeping track?  Preserving and protecting your investments, insuring them adequately, getting the best tax benefit?  Probably not.

Many accounting departments started small with just a few fixed assets; a spreadsheet was just fine. Let the accountant take care of it at the end of the year.  But as the company grew, years went by, this approach became woefully inadequate. And for you there will come a time, or more likely it has already passed, when you company needs proper Fixed Assets management software.

Sage 300 Fixed Assets Software

Fixed Assets software can help you forecast and plan for expected depreciation, making your budgets more accurate and your planning more strategic. It enables you to navigate complex tax laws, that are often misapplied, to avoid over payments or penalties, as well as detect and prevent theft or misappropriation.

Imagine These Scenarios:

1. You have an unfortunate catastrophic weather event, flooding, fire, hurricane, you try and claim recovery with your insurance carrier, but you don’t have correct records and documentation, what then?
2. You get a tax bill unexpectedly because asset depreciation was incorrectly calculated, or you miss taking advantage of IRS Section 179.
3. You have factory or office equipment that is fully depreciated, you need to replace but you are not sure when. Or they are soon to fail due to inadequate maintenance, how will you prevent this?

There are plenty of good reasons to consider Fixed Asset Software to use with your Sage 300. Check out this free webinar below to learn more about Sage 300 Fixed Asset management.

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Sage 300 Fixed Asset Management: Understanding Which Solution is the Right Fit for You

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