Most companies struggle to accurately track their fixed assets. These accounts receive a lot of attention during audits because of their prominence on the balance sheet and impact on accrued financials and key ratios. The company is expected to track asset condition, location, quantity, maintenance, and depreciation status.
How it Works – Fixed Asset Management
- We offer advice to ensure your fixed asset investments are secure and tax efficient
- We set up fixed asset schedules and procedures for their continual maintenance
- We integrate fixed asset procedures with your other processes like procurement
- We update these schedules to ensure their accuracy and compliance at year-end
Benefits of Fixed Asset Management
SoPro makes tracking fixed assets easier by developing an approach that fits your business requirements. With the right systems in place, you can ensure proper authorization is obtained to purchase or sell fixed assets, that associated funds are properly accounted for, and also that the loss of these valuable assets is minimized.