Everything listed under: 8-Fixed Asset Management

  • Comparing Asset Tracking Software: Wasp, Sage, and GoCodes

    Inventory management is an integral part of any fixed asset business. Choosing the right software solution for your inventory and asset management needs can be a tough task! There are a number of important factors, including cost, scalability, support, and integration with other software systems.In this post we will look at three major fixed asset management software services: GoCodes, Sage Fixed Assets, and Wasp.   Read More...

  • 4 Year-End Tax Planning Tips for Small Businesses

    It’s the time for festivities! The calendar year drawing to a close also is synonymous with holiday shopping, gifts, celebrations, and vacations! This is also the time when small business owners don their thinking caps and put in some goals and objectives for the year ahead while closing the accounts for the current year.Know the deadlinesIt’s important to know the dates for filing business tax returns to avoid extra cost or penalties.   Read More...

  • Hummer Tax Deduction - Basic Overview of Section 179 Tax Deductions for Small to Medium Businesses

    The Section 179 Deduction, is a deduction derived from the IRS tax code that allows businesses to deduct the full purchase price of qualifying equipment or software from their gross income. Costs for leasing qualifying equipment/software can also be deducted. Section179.org provides a comprehensive review of the Section 179 Deduction to include the following information:Basic Rules and LimitsThe Section 179 Deduction is primarily geared towards small businesses.   Read More...

  • Lower Your Tax Bill: Maximizing Fixed Asset Depreciation Deductions

    If you own a business, there's an excellent chance you have an accountant who will deal with the small details of the tax code in order to minimize your tax bill or maximize your returns. It's possible you'll lose interest as soon as a term such as 'fixed asset depreciation deduction' enters a conversation, because it's someone else's job to deal with that. However, if you want to maximize your profits in 2017 and beyond, this is a part of the tax code you should be aware of, because it requires...  Read More...

  • Bookkeepers and Accountants save Time by Automating Fixed Asset Depreciation

    Fixed asset management is key to running a successful business. Every business, regardless of its nature, invests initially in some fixed assets such as a piece of machinery or equipment.Over a period of time, the machinery or the equipment may not generate the value that was originally intended and the value of the fixed asset diminishes. Accountants and bookkeepers carry out depreciation accounting to calculate the diminishing value of fixed assets.Some reasons for depreciation of fixed assets...  Read More...

  • Read About the Latest Software for Small Businesses

    One of the latest software to hit the market for small businesses/startups is the SAP Anywhere. Small businesses/startups can sometimes have as many as ten employees. But managing multiple functions such as inventory tracking, asset tracking, and orders can be a huge challenge for small businesses.Rise of cloud based platformsCloud platforms are revolutionizing small businesses in a big way.   Read More...

  • Using GoCodes to Calculate Fixed-Asset Deprecation

    This article discusses the most common ways that small and medium sized organizations use deprecation with fixed-assets such as computers, tools, equipment, furniture etc. Depreciation can become very complex and we refer readers to their government’s policy and guidelines. For the US IRS, this is covered in publication 946 here. What is deprecationDepreciation is an accounting convention that attempts to reflect the way the value of an asset declines over time through normal use.   Read More...

  • Why Use Barcodes to Track Assets and Inventory

    Small businesses grow, and that’s a bigger challenge for them in comparison with already established big firms. Big companies can handle growth with already in-place processes and systems that can handle the strain. Small companies, however, not only feel the challenge of growing profits and revenue growth, they get stuck with the problem of how to manage these changes in future.The answer is, of course, a devoted inventory management software system with a barcode tracking mechanism, and there ...  Read More...

  • How to complete an asset inventory check using an iPhone and QR codes

    This article will show you how you can use GoCodes to quickly complete a periodic inventory check of your assets using the iPhone mobile app and cloud-based software.The goal is to make it as easy and fast as possible to confirm the presence of a set of assets by scanning the GoCodes label with the iPhone app.Here’s a summary of the 5 steps required:Setup a custom field to track the inventory check informationScan assets with your iPhone in multi-mode to collect inventory audit informationUpdate...  Read More...

  • Get Ready for Year-End Inventory Audits

    No matter which industry or niche in which you work, year-end inventory audits are never fun. Nonetheless, they’re necessary for several reasons. If you want to make your audit simpler, make sure you do some planning in advance.   Read More...

  • Eliminating Ghost Assets – Who You Gonna Call?

    A “ghost asset” is essentially an asset that appears in your general ledger, but it cannot be accounted for because it is missing or unusable. There are many ways in which something can become a ghost asset, but the good news is that you can prevent this from happening in a few simple ways.Why Ghost Assets are Bad for Business Ghost assets can make running a business difficult – and more expensive – for many different reasons.Higher insurance premiums – If...  Read More...

  • Appreciating Depreciation – Choosing the Best Software to Calculate Depreciation

    In order to choose the right software for calculating depreciation, you first need to understand what depreciation is, how it can affect your business, and the different methods out there for calculating it. All in all, it’s pretty simple to understand. Once you do, choosing software to help you calculate and track depreciation is easy.What Is Depreciation?According to Merriam-Webster, the definition of depreciate is “to deduct from taxable income a portion of the original cost of a ...  Read More...

  • How to Barcode Assets

    The process of barcoding assets makes it simple to track these assets throughout their entire lifecycles. However, it is important to keep in mind that these labels must be able to withstand their environments and remain affixed for the life of the product. Here, you can learn the basics of barcoding assets and why you should consider it for your company.Barcodes as Part of a Complete PackageUp until recently, companies that wanted to track assets with barcodes had to deal with quite a bit of ha...  Read More...

  • Managing Fixed Assets Using QR Codes and a Smartphone

    QR codes paired with mobile technology can help to simplify your inventory management and your asset tracking process, helping to make it more efficient. Utilizing mobile inventory management based on QR codes means that your employees are able to record inventory transactions while in the field. Transactions can be recorded the moment they happen, all by scanning a QR code with a smartphone.   Read More...

  • How to improve your odds of recovering stolen property

    Stolen goods are recovered by police everyday but returning those items to their owners isn’t always successful. For example, recently West Vancouver police arrested two men and uncovered a cache of stolen construction materials missing from across the area. Police were able to return a small number of items to their owners.   Read More...

  • Trick or treat? Learn how to vaporize ghost assets this Halloween

    What's the trick?All organizations purchase tools & equipment that are necessary for day-to-day operations. Whether your a small business, school or a multinational organization there's no avoiding accumulating fixed assets (in accounting terms).Before you know it, your organization has hundreds if not thousands of items. In today's mobile world, many of these items are small, valuable and move from person to person, project to project and place to place making them difficult to ...  Read More...

  • Intuit QuickBooks - Fixed Asset Manager (FAM) Import Using Excel

    Tips and Tricks - How to Import Your Assets from GoCodes into QuickBooks 1) Importing Asset Data from GoCodes into QuickBooks Fixed Asset Manager (FAM)Customers often ask how they can import or export their asset and inventory data between GoCodes and their QuickBooks accounting system.QuickBooks has a feature which enables you to import your asset information using a simple Microsoft Excel CSV spreadsheet. Since GoCodes enables you to easily export your asset data to an Excel CSV file, it&...  Read More...

  • Sage Accounting Peachtree 50/100/500 - Fixed Asset Import Export Using Excel

    Tips and Tricks - How to Import Your Assets from GoCodes into Sage 50 1) Importing Asset Data from GoCodes into Sage (Peachtree) 50 Asset ManagerCustomers often ask how they can import or export their asset and inventory data between GoCodes and their Sage 50 / 100 / 500 accounting system.Sage has a feature which enables you to import your asset information using a simple Microsoft Excel CSV spreadsheet. Since GoCodes enables you to easily export your asset data to an Excel CSV file, it's e...  Read More...

  • NetSuite - Fixed Asset Manager Import & Export into GoCodes QR Asset Management using Excel

    Tips and Tricks - How to Import & Export Your GoCodes QR code  tagged Assets from GoCodes into NetSuiteIf you are using NetSuite as your SaaS cloud-based accounting solution then you already appreciate the power and flexibility of cloud-based solutions. Now you can enhance your organization's asset management and tracking capabilities with GoCodes.1) Importing Asset Data from GoCodes into NetSuite Fixed Asset ManagerCustomers often ask how they can import or export their asset and inven...  Read More...