Improper methods of fixed assets reporting can lead to losses
Copyright © 2013, Precision Computer Methods Inc., All Rights Reserved.
Spreadsheets weren't designed for the potentially complex job of tracking and managing fixed assets. And that can mean BIG problems for your company:
- Higher Insurance Premiums - If your spreadsheet isn't accurately tracking fixed assets, you could be paying more than you should. Up to 30% more.*
- Higher Taxes - Without annual tax updates, you could be missing new deductions and calculations that can save you money – or simply pay more taxes if you're overstating your fixed assets.
- Direct Financial Loss - There are numerous ways to calculate depreciation, and inaccuracy can mean a big hit to the bottom line. Are you sure your formulas are perfect?
- Non-compliance - With Sarbanes-Oxley legislation, company officers and auditors could be held personally responsible for mistakes on financial spreadsheets – which can result in fines, public scrutiny, and even imprisonment. Do you trust your spreadsheet that completely? Does your boss?
The solution is to get software designed for the job. Get software which will link to Sage Accpac ERP, Sage Pro ERP and many other accounting systems. Get software which has routine tax table updates to keep you compliant.
Sage FAS Fixed Assets has solutions written from the ground up specifically to help you save money and avoid loss with your fixed assets. Thousands of companies rely on Sage FAS to help:
- Improve accuracy - with built-in tax calculators
and depreciation, and strict version control.
- Save money - by reducing tax and insurance
overpayments, and costly errors.
- Stay compliant - by using full-featured, updated
reports and forms.
- Reduce work hours - by going from manual to automatic!
- Reduce theft - by tracking closely and alerting instantly
when something's "lost."
Now isn't it time you got the right tools for the job?
* “Cost of Spreadsheets"- page 4; **Raymond R. Panko, “*What We Know About Spreadsheet Errors,” Journal of End User Computing’s Special issue on Scaling Up End User Development, Volume 10, Number 2, Spring 1998, pages 15–21, http://panko.shidler.hawaii.edu/ssr/Mypapers/whatknow.htm
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