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Sophisticated enough for Tier 1 practices, user-friendly enough for sole practitioners.
We undertake detailed modelling of fixed asset depreciation and lease calculation rules for both accounting and tax.
We monitor changes to ATO tax rulings and accounting standards like IAS 16 and IFRS 16 so you don’t have to.
And, of course, we are ISO27001 certified.
“Up until 2021 we had been using Excel spreadsheets to calculate and manage fixed asset tax depreciation for the group's registers, which was not sustainable. To address this and to implement automation of the process, we researched solutions offered in the market, including by the large accounting firms and specialist software providers. After thoroughly vetting AssetAccountant as a vendor, testing the software and its calculations, and reviewing the company’s data security, we committed to implement the software for all tax fixed asset registers for the Whitehaven Coal group. Since implementation we have been very satisfied with the decision. The software is intuitive, robust, easy to use, and accurate. AssetAccountant’s commitment to ongoing development of the product's features has also been impressive.”
"After being introduced to AssetAccountant in 2020 by PriceWaterhouseCoopers, I carefully reviewed the software's functionality to suit our complex fixed asset depreciation and lease accounting requirements. For example Buildsafe acquires, disposes and writes off thousands of assets including partial transactions. We also need flexible reporting and detailed journals. I have found the software to be enterprise standard, robust and precise. The software is a very elegant blend of beauty and smarts. The ongoing support, product development and assistance has been responsive and reliable. An amazing team and product. Thank you."
"AssetAccountant (AA) has produced the ultimate Fixed Asset Management System. AA integrates seamlessly with Xero and produces reports that satisfies any auditor with easy to trace transactions that are verifiable. The real hidden gem is their Lease Accounting facility which takes all the heartache and time consuming issues out of AASB16. Fantastic product - has literally saved me hours of work."
"We love using AssetAccountant. The time savings for every client’s depreciation entries means not only is profit increased on every job, but our additional team capacity can be directed to more valuable work. There is literally no risk in the investment of AssetAccountant fixed asset depreciation software."
"Big Boy Jocks On.... Ever wanted the big company fixed asset system without all the clunkiness and overthinking on the part of the software developers (I'm looking at you Thomson Reuters...)? Well then you need AssetAccountant. It provides just the right mix of complex depreciation calculations and beautiful user interface. It's a system designed by accountants and executed perfectly by developers. The integration is seamless with Xero (you can sign into AA with Xero credentials which is awesome if you are already running Xero on your browser) and journaling synchs are very flexible between the two applications. Then there is the price. I challenge you to find a more robust fixed asset system at these price points. Well done AssetAccountant. You get me. I now have my big boy jocks back on for fixed asset management....and they fit!"
"From the initial contact with the team at AssetAccountant to the final implementation, we have received prompt and positive responses. The effective support service and continuous improvement makes AssetAccountant a product highly recommended to a wide variety of industries as well as to accounting firms."
"It’s amazing we calculated this year’s depreciation in just a matter of minutes!"
"Our organisation was looking for a standalone cloud-based fixed asset register that could calculate depreciation for multiple companies. AssetAccountant was a perfect solution that removed the need for tracking assets and calculating depreciation through spreadsheets.
The team at AssetAccountant were very responsive throughout the implementation process. The system is straightforward to use and has various options for both asset tracking and depreciation to make it suitable for most organisations."
"Now that AssetAccountant is in our app store, our customers and sales team have a cloud option for fixed asset depreciation which has a strong integration with QuickBooks Online."
"After years of “paying a premium” for our Asset Management, we decided to go in-house. More than impressed with the ease and capability of the software, and the staff were a pleasure to deal with from go to whoa. Fabulous to have monthly reporting, as opposed to annual as well."
"I have seen a lot of niche products come and go but the one constant has been the lack of a decent fixed asset register. I was recently invited to see the latest incarnation and it did not disappoint. I am confident that both accounting firms and corporate clients will be lining up to use it – I have already been extolling the solutions’ virtues."
"We initially came across AssetAccountant when researching potential replacements for the Xero asset register. AssetAccountant sparked our interest due to its ability to easily and transparently forecast depreciation, transfer assets between sites, revalue assets and asset part disposals. The AA team have been extremely helpful which has provided us with confidence in the product, we look forward to exploring additional features to find more efficiencies in our processes."
"We highly recommend the use of AssetAccountant. Our clients benefit immensely from accurate asset register records, making spreadsheet accounting (and typical errors) a thing of the past. We can easily maintain tax and accounting registers providing our clients with accurate and meaningful information. AssetAccountant is a breeze to use, and we love that it integrates with QBO and Xero."
AssetAccountant is priced to suit Australian accounting firms of all sizes
Volume-based, annual pricing for accounting firms with large numbers of client registers or very large fixed asset registers (POA)
All subscriptions are for unlimited users / seats
Low, monthly subscriptions for accounting firms with less than 100 client registers*
AssetAccountant offers a number of options for converting your existing fixed assets data
We can quote for data conversion services via our data migration partners ($150 per hour)
Fixed asset depreciation involves allocating the cost of a tangible asset over its useful life. For accounting firms, understanding depreciation is crucial for advising clients and ensuring their financial statements comply with Australian accounting standards. Proper depreciation impacts a business’s financial health and tax reporting.
The two primary methods of depreciation used by Australian businesses are the straight-line method and the diminishing value method. Accounting firms need to recommend the appropriate method based on the client’s asset type and financial strategy, as these methods impact how the expense is reported over time.
Under lease calculation rules, accounting firms must ensure their clients recognize both leased assets and liabilities on the balance sheet. Leased assets are depreciated over the shorter of their useful life or the lease term, following the requirements of AASB 16 Leases. Accurate calculations are key for maintaining compliance with Australian accounting standards.
The depreciation of fixed assets is regulated by AASB 116 Property, Plant and Equipment, which outlines the treatment of asset recognition, depreciation, and impairment. Accounting firms must ensure that their clients adhere to these accounting standards for accurate financial reporting and compliance.
The implementation of AASB 16 Leases mandates that businesses recognize most leases on their balance sheets. Accounting firms need to guide clients through these changes, ensuring proper application of lease calculation rules and the accurate depreciation of leased assets. This change has had a significant impact on financial reporting and lease management.
Australian businesses can depreciate assets that are tangible and have a limited useful life, including machinery, office equipment, vehicles, and buildings. Accounting firms must assist clients in determining the appropriate depreciation schedule and ensuring compliance with the rules set by the Australian Taxation Office (ATO).
Fixed asset depreciation plays a vital role in a business's profit and loss statement by reducing taxable income and the balance sheet by reflecting the decline in asset value over time. Accounting firms are responsible for ensuring that their clients follow accurate depreciation practices that align with Australian accounting standards.
