Fixed
Asset Management Topics
Note from the Editor
What can I say... well, obviously a lot. This FAS
eNews is so packed full of valuable information! I tried to keep
down to a minimum, but so many great things have and are happening
with the Best, now Sage FAS products.
I also need
to let you know that FixedAssetSoftware.com is now under new ownership
(just the domain name really). We have really been working hard
to give you valuable information. Not just on our products, but
on fixed asset management in general. I urge you to check it out
when you get a moment... when you're not calculating depreciation
on a spreadsheet (for those of you who haven't made the "move"),
or head down in other accounting deadlines.
Thanks for your time and enjoy!
Angie
Bolton-Lyons
FAS Senior Certified Consultant and Best/Sage Certified Trainer
If you would like to see other information or articles posted
on our eNews, just email
us anytime.
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The Benefits of a Fixed Assets
Solution
Guest Writer, Scott Swarts
Most companies look at the initial costs associated
with an inventory service and software solution, but fail to realize
the bottom line benefits of an implementation.
"The focus should not be on the cost of the
solution, but on the cash flow benefits of not paying unnecessary
taxes and insurance premiums. The actual return on the investment
in the project often gets overlooked," says Scott Swarts, president
of Schaumburg, Ill.-based Paragon Systems.
Seven benefits of having a fixed asset management
system.
- The solution pays for itself.
A implementation typically uncovers about 30 percent of unrecorded
retirements in an organization. Correcting this results in immediate
write off, reducing income taxes, property taxes and insurance
premiums.
- Audit support. Records are more
accurate, tied directly to a tagged physical inventory, updated
annually, and facilitate auditing tests. Compliance with provisions
of Sarbanes-Oxley standards is also enhanced.
- Decreased carrying costs. A
fixed asset system integrates the management efforts of multiple
departments such as receiving, operations, information technology,
and accounting.
- Reduced property taxes. A company
pays taxes only on assets that are at the location. This is important
when a firm has multiple facilities located in different tax jurisdictions
with different tax rates and exemptions.
- Avoiding unnecessary purchases.
There is increased control over spending money on additional equipment
by reassigning and utilizing idle equipment instead of making
new purchases.
- Lease equipment tracking. Lease
termination penalties can be avoided by simplifying the process
of tracking, locating, and returning equipment when the lease
term expires.
- Accurate insurance premiums.
Companies can eliminate the concern that they are over- or underinsured.
Insurance coverage and premiums can be matched with the assets.
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ANALYSIS
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RELEASING JULY 25, 2005 --
Version 2005.1 of FAS Gov and FAS Nonprofit
We are pleased to announce the upcoming release of
FAS Gov and FAS Nonprofit 2005.1. The new versions of asset accounting
and asset inventory products for both product lines allow us to
introduce important new features that will enhance the salability
of these products to our unique vertical customers. >>
READ
MORE
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Sarbanes-Oxley Act Resource Center
FixedAssetSoftware.com has put together additional
Sarbanes-Oxley Act information, links and articles together. This
allows our end-users and visitors one place to go for information
without having to search yourself. We have personally read over
all the site listed in our link directly. >> READ
MORE
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New Version of FAS Construction in
Progress Accounting Available
Accounting Today editorial staff describe the great
new features and benefits of the latest version of FAS Construction
in Progress Accounting in their June 20th-July 11th issue. >>
READ
ARTICLE
FAS Construction In Progress Accounting™
(CIPA) version 2.0 >> READ
MORE
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NEW Sage Software, Inc. (formally
known as Best Software, Inc.) is Now Offering Outsourced Payroll
Services
Sage Payroll Services is designed to provide the
full functionality of other traditional service bureaus, but with
unique advantages designed specifically to address the needs of
SMBs, including:
- Tight integration to both installed accounting
and HRMS systems, from Peachtree by Sage, Sage MAS 90, Sage MAS
200, and other GL packages, to the award-winning Sage Abra HRMS
solutions;
- Supported by local business partners able to
service the full solution from a single vendor;
- Available 24x7;
- Real-time, instantaneous reports;
- On-demand check printing from the desktop, as
well as remote check and W-2 printing and delivery;
- No technical requirements beyond a high-speed
Internet connection and desktop PC.
>> READ
MORE
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