The Advantages of a Dedicated Fixed Asset Management System Timely Updates to Address Changing Tax Laws Customers trust Sage Fixed Assets for total accuracy in their depreciation calculations. The availability of regular updates when tax laws change is a key difference between Sage Fixed Assets and add-on modules from ERP vendors. At Sage, a team of depreciation experts monitors all tax law changes and immediately goes to work incorporating them into the next release of Sage Fixed Assets. An annual tax update incorporating all of the pertinent tax law changes for the next tax filing is released at the end of each year. Additionally, other releases of the software provide product enhancements and further tax law changes if new rules are announced midyear. These updates are free of charge to customers on a Sage Fixed Assets. ERP vendors do not always schedule software releases based on tax law changes. That is because most software updates will impact multiple software modules and business units. When Congress changes a tax law, your ERP vendor is unlikely to respond immediately, if ever. This leaves fixed asset managers in the unenviable position of having to stay abreast of changing regulations and determine how each new law impacts your business. If your ERP vendor does offer a patch to address a tax law change, you run the risk of this fix impacting other areas of the organization. Without a timely release, you may have to pay consultants to update your fixed asset module to reflect current tax law or compliance regulations. Sage Fixed Assets – Tracking delivers unparalleled asset inventory tracking and reconciliation capabilities. Using state-of-the-art bar code technology—including Windows Mobile® bar code reading devices—it creates and tracks physical inventories quickly and accurately for better management of fixed assets. Sage Fixed Assets – Planning helps control spending and streamlines project accounting prior to placing a fixed asset in service. It eliminates cumbersome spreadsheets, manual data entry, and the mountain of invoices associated with assembling multi-component equipment, upgrading machinery, constructing buildings, and other work in progress. Sage Fixed Assets – Reporting provides control over the format, appearance, and context of all depreciation and asset management reports. With the point-and-click system of Sage Fixed Assets – Reporting, it is easy to create professional, custom reports instantly and even share fixed asset data with other programs using the built-in ASCII and spreadsheet exports. Sage Fixed Assets Compliance Adviser produces a multitude of comprehensive reports that satisfy the most common information requests posed by auditors during an evaluation of internal controls for Section 404 of the Sarbanes Oxley Act. Ease of Use and Superior Efficiency Sage Fixed Assets is easy to implement, learn, and use. Every feature is designed to help fixed asset managers accomplish routine tasks in fewer steps. Commonly used functions like transfers or disposals that might take seven to nine steps in the add-on module from your ERP vendor take two or three quick clicks of your mouse in Sage Fixed Assets. Every step that can be consolidated in your daily routine tasks is time saved. Customers who have tried both solutions say these little time-savings add up to a much more efficient work day with Sage Fixed Assets. It is easier than ever to take advantage of all the benefits offered by Sage Fixed Assets while still fully utilizing your ERP system. Rapid improvements in data integration over the past several years make it much easier for systems to communicate than ever before. Sage has a great deal of experience integrating ERP systems with other applications. So it should come as no surprise that our customers routinely integrate Sage Fixed Assets with their ERP systems— it’s easy to accomplish! Complimentary Sage Fixed Assets Links for Sage ERP and General Ledger Solutions Sage Fixed Assets provides dedicated integration to other Sage solutions at no additional cost. Sage Fixed Assets Links provide accurate depreciation expense journal entries by automating the posting process between Sage Fixed Assets and your general ledger. Using the Sage Desktop, a virtual common work space deployed across Sage solutions, Sage Fixed Assets users can quickly access all applications, information, and tasks they need for work processes. Simply select the built-in Sage Fixed Assets Link from the Sage Fixed Assets menu for an easy, accurate, and dependable way to post summary depreciation expenses. You can even verify the accuracy between Sage Fixed Assets and your general ledger with a dependable posting report that is generated every time you send Sage Fixed Assets depreciation data to your General Ledger. The Advantages of a Dedicated Fixed Asset Management System
The post The Advantages of a Dedicated Fixed Asset Management System appeared first on Acute Data Systems.