Sage 100 Fixed Assets: Your Spreadsheets Could Be Costing You

Find out how to create savings and efficiencies that benefit the bottom line with Sage 100 Fixed Assets.

Don't face another year trying to track fixed asset depreciation with spreadsheets. It's surprising to think about the hidden costs your business is paying on taxes and insurance due to inaccurate depreciation calculations. Or how much is being wasted on redundant and repetitive activities? Find out the many ways your company will benefit by implementing a Sage 100 Fixed Assets system this year.

The Hidden Cost of Spreadsheets

There are countless uses for the old standby: the old-fashioned spreadsheet. But once you start requiring complex formulas, numerous dimensions, and knitting together countless workbooks across dozens of people, the opportunity for error becomes infinite. It’s common to experience version control issues when spreadsheets are passed from employee to employee because it becomes nearly impossible to identify the most current version. 

Sadly, spreadsheets are not built with any audit trail functionality, which means all updates must be logged manually. This makes your spreadsheets vulnerable to unintentional changes that can impact data integrity.

Uncover “Ghost Assets”

Without an integrated fixed asset inventory management solution like Sage 100 Fixed Assets, there is no easy way to capture and reconcile inventory data collected via handheld scanners. Sage 100 Fixed Assets automates your data collection and feeds it directly to your accounting system, saving time and reducing errors.

And Sage 100 Fixed Assets uses this automation to identify and easily remove “ghost assets” during physical inventories. Some companies have reported that up to a third of their company’s property, plant, and equipment is actually lost, stolen, or unusable. With inventory reconciliation, Sage Fixed Assets identifies and removes those ghost assets from your corporate ledger so you can avoid unnecessary taxes and fees.

Improved Security and Accuracy

For some companies, their compliance requirements have gone beyond what  spreadsheets were built to handle. For example, the lack of user controls means that sensitive data may be visible to the wrong users. Anyone with the spreadsheet's password can make changes to cells and formulas that may lead to unintended calculations and values elsewhere. If your company is subject to Sarbanes-Oxley, this will be insufficient to achieve or maintain compliance.

A fixed asset management system such as Sage 100 Fixed Assets is built specifically to securely and accurately track and calculate depreciation and taxes. Sage Fixed Assets automatically tracks capital projects from inception and design through construction. And once complete, the new fixed asset is added to a centralized repository of asset, lifecycle, and performance data, ensuring data integrity.

Sage Fixed Assets serves as both a database and a calculation engine for asset depreciation, asset taxation, and accounting compliance. These rules are built into the system to ensure compliance with new and ever-changing regulatory requirements. Manually keeping up with new regulations is going to be a full-time job with spreadsheets and you still risk missing a regulatory change that could result in huge fines.

Multiple Depreciation Methods

A fixed asset management solution such as Sage Fixed Assets contains dozens of automated depreciation methods, so you can choose the method that maximizes financial benefits. Ideally, your solution will provide enterprise application integration, allowing users to share fixed asset data with accounting, general ledger, and ERP systems.

Implementing a fixed asset management solution is the first step to retiring your spreadsheets. Achieve more accurate physical inventories, spend less money on taxes and insurance, and maximize benefits from accurate depreciation calculations. In the end, you'll be able to easily achieve regulatory compliance, as well as eliminate redundant and repetitive activities.

Get Started Today

To see how these solutions can increase your company’s profitability and streamline your processes, contact the experts that know Sage 100 and the Manufacturing industry.

Call us 262-797-0400 or visit our site to contact Vrakas/Blum today.

Vrakas/Blum Computer Consulting, Inc. (VBCC) is proud to be the #1 Solution Provider of Sage 100 manufacturing software for the 15th consecutive year. We are humbled by this honor and will be celebrating this achievement with our clients and alliance partners that made this possible.