Fixed asset depreciation is an art and a science which many public accountants and experienced business managers consider integral to both accurate financial reporting and business planning. In fact, fixed asset planning should be considered part of your overall strategic plan, not just a function of the accounting office.

Manufacturers considering ERP systems would be wise to consider these three questions, and pursue solutions that satisfactorily answer them. Manufacturers have specific needs when it comes to ERP systems. Some of these needs are “nonnegotiable” and essential to get the most out of your ERP implementation. Failing to ask key questions can lead to a poor implementation experience.

A vital and oftentimes overlooked task for business is the tracking of fixed assets such as technology, cars, furniture, etc. A fixed asset is any tangible item valued at least $500. Accounting for each of these items for some large companies can be quite a task. However, there is data collection software that can streamline this process for you. In fact there is fixed asset tracking software that will allow you to scan barcode labels to capture and catalog the information accordingly.

Green is most definitely the new black in today’s world. Finding ways to preserve the environment while conducting day-to-day operations can be tricky and expensive. Updating equipment to eco-friendly options and implementing green tools leads to company capital being spent on fixed assets that are multi-functional. This requires managers to ensure that new assets are both useful to the organization and friendly to the environment.