Fixed Asset Management Software

If you aren’t yet managing depreciation of your assets, you may be missing opportunities to lower your tax burden. You may also be missing the chance to accurately identify your company’s financial position. Fixed asset management software helps you track purchase cost, valuation, depreciation and gain or loss on your assets. Because of the complexity of the financial calculations, an automated software approach can save hours compared to manual fixed asset management.

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What is Fixed Asset Software?

Fixed asset software provides automation features for depreciating asset value in order to identify optimal asset management strategies and enable accurate business tax filing.

Important benefits delivered by effective fixed asset software include:

Reduced asset costs based on improved planning of asset retirement and buy versus lease decisions
Improved tax planning based on ability to depreciate assets costs over time
Decreased labor costs for calculating asset depreciation in comparison with manual methods

Key Fixed Asset Software Features

Functionality	Definition
Multiple depreciation methods	Automated calculation of asset depreciation based on customizable depreciation methods such as straight-line, declining balance, and others
Tax form support	Ability to create required tax forms for asset depreciation including forms 3468, 4626, 4255, 4797, 4562, and T2S8
Cost center assignments	Management of corporate cost codes with the ability to allocate assets to the correct department or cost code
Asset location tracking	Software fields for tracking asset location with check-in/check out features
Asset movement history	Tracking for historical asset locations and responsible party assignments
Bar-coding	Asset bar code labeling and scanning for quicker asset recognition
Asset grouping	Reporting capabilities allowing assets to be grouped by type, cost center assignment, or location
Asset retirement planning	Forecasting of all future costs considering maintenance and asset value depreciation in order to provide asset retirement scheduling recommendations
Lease vs buy analysis	Lifetime cost calculations considering asset depreciation value for providing lease versus buy recommendations

What Can Fixed Asset Software Do for You?

There’s no room for error when you need a precise picture of your company’s physical assets. Knowing exactly what you have can produce significant savings in taxes and insurance costs. With fixed asset management you can dramatically reduce the time associated with tracking assets while expanding your options.

Stay on Top of Tax Advantages with Up-to-Date Asset Valuation

It’s an unfortunate reality that many companies overpay in taxes and insurance due to ineffectively managing their fixed assets. Using a fixed asset software application can help your firm maximize the payoff from capital investments by clearly identifying each investment, its value, location, purchase details, depreciation method and accumulated depreciation.

Calculating proper depreciation is only a starting point for today’s fixed asset management software systems. In addition, almost all of the systems compute gains and losses on the sale of assets and often provide more advanced features. The tax laws are constantly changing so access to a constantly upgraded package is important to assure you’re taking advantage of all the tax savings available to you.

Adam Bluemner is a Managing Editor at Software Connect. He and his colleagues have been helping businesses like yours find top fixed asset management software options since 1996.

Popular Fixed Asset Management Software Products

Looking for great fixed asset management software options? Below you can check out a list of the products most commonly considered by others searching for fixed asset management software. The list on this page is based on many years of real software matches. But everyone’s needs are different. Browse for fits with your specific requirements or let us help you identify your top options.

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