Asset accounting software

What is asset accounting software? Is it just for large, multi-national corporations? Is it difficult to use? In short, no. Asset accounting made simple software is available to any business large or small. It’s easy to install and can save your company thousands of dollars in annual savings.

Asset accounting software is inadequate at a lot of organizations. It doesn’t help control organizational assets. Asset management, on the other hand, is a better option because it enables businesses to work closely with their assets….

Asset accounting software is a system that records the value of assets and their depreciation. Asset accounting software manages the entire process of tracking assets and their depreciation. This includes recording all relevant information such as when an asset was bought, how much it cost, what it’s worth now and how much it depreciated over time.

Asset accounting software is used by companies and businesses to keep track of their assets so they know exactly how much money they have tied up in the things they own. The information collected can also be used by tax authorities to calculate taxes owed on capital gains from sales or depreciation deductions.

Asset accounting software is essential for any company that needs to track their assets. Organizations with a large number of assets, such as manufacturing companies, will benefit from this software the most.

Asset accounting software allows you to keep track of assets, including their location and condition. You can also use this software to record depreciation expenses so that they are accurately accounted for on your financial statements.

This type of software also helps you manage inventory and accounts receivable. In addition, it provides reports that show how much money has been spent on each asset over time so that you can determine if you need to replace anything or if any repairs need attention sooner than expected.

Asset accounting software

The Fixed Asset Accounting Software primarily caters to the accurate calculation of depreciation values and comprehensive reporting of all financial information related to fixed assets on the balance sheet. The Fixed Asset Accounting software is used for preventive maintenance procedures, detailed financial accounting and asset tracking implementations. Deployed in various SMEs, small and large business corporations, fixed assets accounting software automates various accounting procedures and tracking systems.

Based on intensive research and comparative analysis of performance levels, we have curated a list of 10 best fixed assets accounting software that have highly benefited various business organizations. Check them out!

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10 Best Fixed Assets Accounting Software

  1. Sage Fixed Assets
  2. BNA Fixed Assets
  3. AssetWorks
  4. ProSeries Fixed Asset Manager
  5. Real Asset Management
  1. AssetExpert
  2. Intacct Fixed Assets Software
  3. xAssets
  4. Wasp Asset Tracking
  5. NetSuite Fixed Assets Management

1. Sage Fixed Assets

This is one of the best fixed assets accounting software solutions in the present market and it provides great flexibility in its various functionalities. It offers SaaS based payment solutions for corresponding web based deployment practices. Sage Fixed Assets is an ideal software for startups, individuals, enterprise, SMEs and agencies and offers the most affordable pricing solutions.

Features:

  • Offers Web-based Deployment
  • User-friendly interface for greater navigation purposes
  • Provision for highly effective inventory management system
  • Availability of full customization features as per the business requirements
  • Applicability on mobile platforms like Android, IOS, Windows and Blackberry
  • High end support for desktop platforms like Mac, Windows and Web OS respectively
  • Full compliance of depreciation standards with regards to latest government regulations
  • Availability of more than 50 depreciation methods like MACRS 150 percent and 200 percent, Straight-line, ACRS, etc.

2. BNA Fixed Assets

BNA Fixed Assets is popularly known for its compliance to high performance standards in the market, and especially when it comes to fixed assets regulations. This particular software is known for drastically reducing the efforts required to bring about effective management and tracking of fixed assets in any business organization.

Features:

  • Full time compliance with built-in tax code and violation alert
  • Greater visibility and control through extensive audit trial schemes
  • Complete automation with tax and accounting systems
  • Comprehensive report generation for critical data analysis
  • Experts’ wizard guide solutions for implementation of new assets into the mainstream database.
  • Real time depreciation calculation through ‘Open Timeline’ feature
  • Built-in templates and policies for error-free data entry operations.

3. AssetWorks

Another of the best fixed assets accounting software solutions in the market, AssetWorks offers comprehensive and excellent features of property tracking, accounting and reporting. AssetWorks brings-in greater integrity of asset management solutions through high end performance levels, greater efficacy and effective business workflow procedures.

Features:

  • Provision of automated transfer management solutions
  • Incorporation of multiple methods for asset depreciation
  • Full fledged asset maintenance and calibration technologies
  • Mobile inventory capabilities and easy assistive systems
  • Dynamic reporting tools
  • Comprehensive report generation for accurate analysis
  • Compliance reporting and asset valuation
  • Annual updation of asset values and incremental valuation

4. ProSeries Fixed Asset Manager

The ProSeries Fixed Asset Manager provides excellent asset-tracking features and accurate generation of client’s depreciation values. Offered for Startups and SMEs, this software comes in quite handy with exclusive reporting tools and techniques. This software is also available as an add-on solution for ProSeries Professional and also as complete standalone software.

Features:

  • Separation of deprecation values for book and tax systems respectively
  • Facilitation for asset tracking and purchasing for a duration of one year
  • Exclusive Modified Accelerated Cost Recovery System (MARCS) depreciation strategy
  • Compliance reporting tools for client property and tax return solutions
  • Toll Free U.S. based support system and service-cum-delivery.
  • Highly effective and user friendly interface with greater customization features
  • Intuitive mobile monitoring schemes for tracking even while ‘on the go’

5. Real Asset Management

Real Asset Management offers excellent asset tracking, professional asset accounting and integrative maintenance management solutions for businesses and commercial organizations. This software finds great applicability in the various SMEs, Enterprises, Not-For-Profit organizations, Commercial corporations and Health Care organizations.

Features:

  • Accurate processing and forecasting of depreciation values
  • High end capital expenditure control and lease accounting solutions
  • Highly effective asset tracking and physical auditing
  • Complete adherence and compatibility to the audit requirements
  • Facilitation of reduction in insurance premiums
  • Location based audit evaluation and assessment
  • Hierarchical transactional maintenance with full and part time disposal systems

6. AssetExpert

AssetExpert is one of the top fixed asset accounting and management software solutions provider in the market. Designed to reduce operational and maintenance costs incurred through effective asset management, this particular software is a niche in itself. It is known for its greater applicability and high  performance standards.

Features:

  • Facilitation of income tax accounting with two additional books
  • Inbuilt SLM and WDV methods for greater performance levels.
  • Highly accurate calculation of client’s depreciation values and comparison schemes
  • On-time notification schemes and reminders against potential warranty expiration, Insurance, AMC, etc.
  • Full time linking with barcode scanner for better barcode verification
  • Web-based software deployment with SaaS based payment subscription
  • Fixed asset scheduling with excellent audit and tracking options

7. Intacct Fixed Assets Software

Intacct Fixed Assets Software provides merger functionalities of fixed assets and core accounting features for catering to various business requirements. This software is highly popular for its complete dedication towards excellent performance criteria. It also provides complete, flexible and automated delivery system. One of the most sought after fixed assets accounting software solutions in the industry, it is highly applicable for Startups, Individuals, SMEs, and Giant Corporations alike.

Features:

  • Integrated technology for easy asset monitoring and management
  • Full fledged and comprehensive automation for dominant reduction of manual efforts during monthly close
  • Cloud ERP system for greater asset risk avoidance and management
  • Incorporation of dimensional visibility to the business solutions for improved decision making
  • Customizable interface for providing essential navigation features as per the business requirements
  • World class security solutions with high end backup and support systems
  • Straight Line and MARCS depreciation methods for easy accounting solutions

8. xAssets

xAssets Fixed Assets Accounting Software is a browser-based fixed asset register that caters to Asset management and depreciation, asset accounting, preventive maintenance, bar-coding, asset lifecycle processes, procurement and disposal. It offers a comprehensive solution to fixed asset management and depreciation for SMEs but the functionalities can be extended to cater to the business needs of higher organizations too.

Features:

  • Integration of asset lifecycle – from procurement to final disposal and asset registration
  • High end accuracy in depreciation and asset accounting solutions
  • Planned maintenance and processing of work orders
  • Easy configuration and customization options
  • Browser based implementation
  • SAAS based hosting and installation
  • Improved scalability and comparative analysis of IFRS, US GAAP, UK GAAP and Canada GAAP

9. Wasp Asset Tracking

Wasp Asset Tracking provides excellent asset tracking solutions in terms of all the necessary software, hardware and asset tags required. The software helps in implementing a hassle-free and automated-asset management system. It offers one of the richest asset tracking features in the present industry and even provides comprehensive and affordable cloud-based solutions in the form of AssetCloud.

Features:

  • Easy to use interface for greater navigation purposes
  • Complete elimination of manual tracking schemes and solutions
  • Comprehensive data build and reports generation with graphical implementation
  • Centralized role-based security standards
  • Provision for general ledger, accounts payable and purchasing modules for greater applicability.

10. NetSuite Fixed Assets Management

NetSuite Fixed Assets Management provides easy to manage solutions for  taking complete control over the asset lifecycle processes. The software also provides easy to use solutions when it comes to necessary depreciation, re-evaluation and disposal procedures. It also provides detailed asset management, maintenance and insurance schedules for better integration into the financial statements.

Features:

  • Customized management and reporting of the asset lifecycle
  • Integration of asset management with accounting solutions
  • Applicability and support for all depreciation standards
  • Option of posting depreciation and asset retirements to Netsuite accounts
  • Comprehensive data analysis and report generation in terms of assets, depreciation and valuation
  • SaaS based subscriptions to fit the IT business strategy

The Bottom Line

Fixed Assets Accounting Software is crucial in today’s world considering the greater need of automation required in various business and financial fields. Also, it significantly reduces the overhead costs incurred on manual processes, error maintenance and error correction issues. The Fixed Assets Accounting Software also drastically reduces the time complexity levels on many fronts. On the whole, it can be rightly said that the incorporation of this Software in a business or financial organization brings about simplification of workflow, improved productivity and excellent financial standards!

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