Practical matters in fixed asset management

Managing fixed assets and calculating depreciation

Sounds pretty straightforward, right?

You buy an asset and write it off over its useful life using a method prescribed either by your own accounting policies or the relevant tax authorities.

Well, in practice, whilst this may sound simple, there are lots of real life day-to-day examples of events that occur which can complicate these matters considerably.

At AssetAccountant™, creators of fixed asset depreciation and lease accounting software, we make it our mission to make managing these events as easy as possible.

Some examples and the kinds of functionality we provide are set out below:

Partial disposals

Components

Image of a Beca Group Team Member

It’s amazing we calculated this year’s depreciation in just a matter of minutes!

Veenith Singh - Group Finance Operations Manager, Beca Group

Second element of cost

Work in progress/assets under construction

Different cost basis for book and tax

AssetAccountant™ – saving you from spreadsheets since 2019

Fixed asset depreciation - automated

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