For businesses with substantial investments in fixed assets—like commercial kitchens, manufacturing plants, warehouses, or distribution centers—maintaining an accurate record of assets like forklifts, vehicles, buildings, land, machinery, and office essentials is crucial. These assets require meticulous tracking throughout their lifespan, including individual depreciation schedules for tax accuracy. As assets age, they must be evaluated for replacement based on their condition and performance.

The Pitfalls of Manual Tracking

Despite the critical nature of asset tracking, some businesses still rely on manual methods. Utilizing spreadsheets for equipment maintenance records and depreciation can lead to financial losses by not accounting for “ghost” or “zombie” assets, overlooking equipment that’s become a financial drain due to excessive repairs, or simply not recognizing when a piece of equipment has outlived its usefulness.

The Advantages of Software-Assisted Tracking

Software solutions like Sage Fixed Assets offer a streamlined and precise approach to managing every facet of asset management. This guide delves into the advantages and functionalities of Sage’s robust system, which is compatible with various ERP systems beyond just Sage’s own ERP.

Sage Fixed Assets stands out as a comprehensive asset management tool that facilitates the tracking, organization, depreciation, and strategic planning of fixed assets. It can operate independently or integrate seamlessly with your existing ERP system, enhancing transparency in asset management. The system allows for the generation of insightful reports, providing real-time data on asset depreciation, location, and more.

Key Benefits of Sage FAS

  • Streamlined Asset Organization: Even small businesses can possess thousands of fixed assets. Sage FAS empowers you to categorize and monitor the value of your assets throughout their lifecycle, sorting by type, age, and other criteria. It simplifies the process of locating assets and swiftly identifying those that are missing, stolen, or non-operational.
  • Insightful Business Analytics: Effective asset management aims to forecast and budget for asset replacements proactively. With Sage FAS, you can keep tabs on depreciation rates and maintenance schedules, aiding in the decision-making process for assets nearing obsolescence.
  • Precise Asset Valuation: The presence of ghost and zombie assets can erroneously inflate a company’s value, leading to unnecessary expenses. Sage FAS assists in determining the genuine worth of your assets, thereby preventing overpayment on property taxes and insurance as well as mitigating fraud risks.
  • Enhanced Maintenance and Repair Tracking: Sage FAS fosters collaboration between the accounting and maintenance departments. A unified database streamlines the sharing of information and updates. The system supports the logging of extensive maintenance activities per asset, enabling you to track ongoing maintenance costs and make informed decisions about asset replacement and budget management.
  • Flexible Depreciation Solutions: The software includes a variety of depreciation methods—over 50—to suit different needs, alongside the option to create custom schedules.
  • Accurate Asset Tracking: Ensure you’re not overpaying on taxes or insurance for assets that are obsolete or being phased out. Sage FAS’s tracking capabilities, particularly when paired with barcodes and efficient check-in/check-out procedures, guarantee near-perfect accuracy.
  • Adaptable Reporting Capabilities: Craft personalized reports featuring a variety of metrics such as initial cost, deployment date, asset category, and beyond.
  • Broad Compatibility and Integration: Sage Fixed Assets boasts compatibility with a wide range of ERP systems, including Sage Intacct, Sage 100, Sage 300, Microsoft Dynamics, SAP, Plex, JDE, and Oracle.

Ready to Get Started?

Regardless of the ERP system in use, Sage FAS delivers a robust solution for the organization, surveillance, tracking, and depreciation of your fixed assets. If you’re looking for an asset management solution and are ready to give Sage FAS a try, contact ASI or schedule your free consultation today. We can help implement, integrate, and customize your solution for the best possible outcome.