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 [...]
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 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, [...]
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 [...]
Overview: Useful Life and Depreciation 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. Understanding an asset's useful life and calculating depreciation are among the top two most important data points for fixed [...]
Don't get caught off guard by an upcoming OMB A-133 Audit. Let's face it, audit season is not typically the most exciting season. In fact, some people dread it. However, with the right knowledge and the right tools in place, passing an OMB A-133 or GASB 34 audit doesn't have to be difficult. While most [...]
