Top Seven Fixed Assets Questions for a Retailer, Restaurateur or Manufacturer to Ask

If you are overwhelmed by the amount of time it takes for Fixed Assets Management, you are not alone!  As a matter of fact, certain industries have adopted a 52/53 week accounting year for reporting. Ensuring a consistent and even comparison of sales year over year. But, without the right fixed assets management software in place, you may have yet again added more headaches for your finance and tax department to deal with. Leading your business to a loss of productivity in the tax department, but also contributing to an increase of data and calculations errors; exposing your overall company to more risk – and nobody wants that! Finance and tax departments need help eliminating headaches, not adding more.

Top Questions to Ask about Your Fixed Assets Management:

1. Is your software making your team calculate a 52/53 week year manually?Top Seven Fixed Assets Questions for a Retailer, Restaurateur or Manufacturer to Ask

2. Wouldn’t you rather use software that already has the 52.53 week year built in?

3. Does your software correctly calculate what your 52/53 week year end date will be for all upcoming years?

4. Are you correctly calculating your depreciation based on a 52/53 week year?

5. If you have fixed assets software, are you using side calculations outside of your solution?

6. Do you have the elasticity to handle the complex corporate fixed assets situations you find yourself dealing with day in-day out”?

7. Are you able to consolidate your reporting for multiple entities?

The solution …CCH Fixed Assets Manager.

Our clients using CCH Fixed Asset Manager will tell you how robust this tool is and how it consistently is meeting the needs of their business as well as their finance and corporate tax departments. And they also boast that CCH Fixed Asset Manager conforms to their industry environment and is an effective tool for fixed assets management that has adopted as 52.53 week accounting year.

Our solution eliminates and reduces inefficient tax processes caused by using work arounds and staff inexperience.  It is time for you to refuse to use ‘work arounds.’ Let your software manage workpapers in their native formats, establish audit trails, strengthen controls and incorporate regular record retention. Start managing your tax, workpapers and  fixed assets accurately and in the most efficient way. Gain piece of mind by decreasing tax liability, improving productivity and staying organized.

AUTHOR

Kathleen Grant

All stories by: Kathleen Grant

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