Fixed Asset Transaction Reports | 7 Reports you should be Running

2018-07-24T10:26:50-04:00Tags: , , |

7 Fixed Asset Reports you should be Running for Transaction Purposes Fixed asset management is critical to the success of your organization, regardless of size. It encompasses all fixed asset tracking, asset accounting, preventive maintenance, and theft deterrence efforts – and that’s a lot. As such, staying on top of fixed asset management [...]

Preparing for an Audit | 3 Quick Tips for a Smooth Audit

2018-08-01T12:37:52-04:00Tags: , |

Fiscal year-end is approaching for many organizations, and you know what that means: the annual audit, too, is upon us. If the thought sends shivers down your spine, know that you aren’t alone. Preparing for an audit can be stressful (and time consuming), but it doesn’t have to be. As far as fixed assets [...]

Fixed Asset Reports | 5 Accounting Reports you should be Running

2018-08-01T12:35:45-04:00Tags: , , |

Fixed asset reports are an integral part of all asset management processes. They provide the intelligence needed to facilitate accurate financial records for asset accounting, maintenance and management purposes. Regardless of whether you’re preparing your reports with an asset management software solution or using spreadsheets, it’s critical to understand the purpose of each report, [...]

Fixed Asset Accounting 101: Asset Disposition & Ghost Assets

2018-06-27T14:42:02-04:00Tags: , , |

To comply with the requirements set forth by the Government Accounting Standards Board, public entities must accurately track assets from acquisition through disposal. Often times, these organizations have strong policies and practices in place for everything from procurement to active asset inventory but have a harder time managing the disposal of assets. Failure to [...]

An Introduction to Useful Life and Depreciation

2019-09-05T14:45:18-04:00Tags: , , , |

For many entities, capital assets represent a significant investment of resources. As such, to make the most of your investment, these assets need to be actively accounted for and managed. Depreciating assets over their useful life is not only beneficial to your organization but is required by GASB 34. This overview is intended to [...]