Fixed Asset Management
We track how your assets depreciate. You get returns that you appreciate.
Every business has major investments in fixed assets that help them in production of goods and services.
They can make up for more than 50% of total assets on your balance sheet, so proper management of fixed assets can save you a ton of money!
What are Fixed Assets?
Real estate property like Buildings, Land, Stores and Office complexes
Machinery, Labor, Vehicles, Tools and Equipment involved in Handicraft or High Tech Manufacturing
Intangible properties like Patents, Copyrights and Goodwill
Who needs Fixed Asset Management?
Oil, Gas and Mining
The global economy depends on the gas & mining industry for its energy requirements. They no doubt invest a lot of resources to meet the demand. FAM can help avoid major failures and facilitate timely repairs for the equipment used
Retail
Retailers who own stores & warehouses or are constantly moving assets from one location to another need to keep track of what assets go where. Our reports can track assets and costs associated with construction of new retail locations
Manufacturing
Heavy machinery, vehicles, labor, factories and what not - manufacturing industry has a lot of fixed assets employed, and tracking of age of assets, location, depreciation and efficiency is of utmost importance here
Accounting Firms
In the capacity of a trusted business advisor, efficient FAM reporting & recording solutions can be used to prepare financial statements for the firm’s clients and incorporate federal + state depreciation figures into tax returns
Transportation
Whether you are an Auto Dealer leasing your vehicles to individuals or operating vehicles for passenger transportation, our recording and reporting of vehicles helps transportation companies have all the details on your finger- tips.
Education
Schools, Colleges and Universities have to manage their fixed assets across various districts, locations and campuses. FAM ensures they stay compliant with their funding agencies on the use of their resources for acquiring these assets
Healthcare
Medical facilities often have expensive equipment in addition to infrastructure like X-ray machines and MRI scanners . It becomes essential to track transfers across facilities and write off expenses due to wear and tear
Miscellaneous
Businesses across various industries are dependent on fixed assets for their revenue streams. If an establishment has major investments in assets, FAM becomes necessary to save taxes, improve efficiency and avoid penalties
How Fixed Asset Management can help your Business
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Depreciation Monitoring
All machinery, equipment etc. go through wear and tear over their lifetimes. For most businesses, a lot of capital is invested in these assets. Monitoring the cost of this wear and tear {depreciation} can save your establishment tax money and help keep track of your assets’ salvageable values
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Budgeting and Forecasting
Monitoring hundreds and thousands of assets across an organization can be cumbersome. With our reporting and solutions, you’ll know the health and wealth of all your assets, which will help you to realize repairing, operating and maintenance costs well before in advance
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Cost Control and Maintenance
Businesses with larger inventories can lose millions of dollars in equipment failures, repairs, replacements and missing inventory. Our robust fixed asset management services ensure efficient performance and tracking of your assets, so that there are no surprise breakdowns or misplacements
Why work with us?
Our detailed Central Repository of all your fixed assets allows for hassle-free tracking and efficient inter-department workflow
We help in recording optimum/maximum allowable depreciation to improve cash flow
Our reports can readily be used by Tax preparers for Federal and state purposes as well as by Internal or External auditors
We are always up to date with the latest changes in regulations and accounting procedures for recording of fixed assets, hence there is no risk of non-compliance
Outsourcing fixed asset management to us saves time, effort and cost of maintaining and training a dedicated inhouse department