Entries by angie

ERP Fixed Assets and Tax Depreciation

As the case with most Accounting packages out there, fixed asset management is not a focus when vendors develop ERP solutions.  Although they are quite fabulous at integrating financial information and automation, the depreciation piece isn’t as robust as it often needs to be — especially for tax depreciation. I am starting to see a trend with […]

Fixed Asset – Don’t Delete Disposals!

Most often when exploring through mass amounts of fixed asset spreadsheet data, we ask… where are your disposals?  Sometimes the answer we hear is: we deleted those.  WHAT? When you sell, exchange, abandon, retire, or in some other way dispose of an asset, you need to account for that process somewhere [a paper trail].  Generally, […]

A TRUE Fixed Asset Transfer

Most are confused about a true asset transfer and the process behind it.  I’m here to set the record straight! NOT a true asset transfer: If you are just physically moving an asset from Location A to Location B but the depreciation is still maintained centrally on one set of books… then you are simply […]

Cost or ‘Value’ Seg Studies

What is Cost or Value Segregation Studies and why should I care? By definition, a cost segregation study is identifying personal property assets that are grouped with real property assets, and separating out personal assets for tax reporting purposes.  A real world example:  when you build a building and everything associated with that building is generally categorized […]

Baseline Inventory – or – Dynamic Inventory

Baseline or Dynamic is the question; that depends on your situation. Definitions of both are: Baseline Physical Inventory: No field validation – no database Dynamic Inventory: Real-time field validation – you already have a database Which one should I perform?  That really depends on: 1) your project, 2) the integrity of your current data , […]

To Bulk or Not to Bulk… Fixed Assets

I often get asked if companies should approach their asset tracking and depreciation by bulking items together (like that of their out-sourced CPA firm — general statement) or individualize them out as their own separate line item.  Good question, here is my answer: Let’s say you have $50,000 in furnture and fixtures on your books […]

New Home for a Senior Fixed Asset Consultant

Since teaming up with Paragon International (back in May 2009), I’ve learned so much about Cost Segregation studies (how they are done the right way) and how so many misclassify real property and just by legally reclassifying fixed assets, it can greatly impact depreciation schedules — for the good — producing much more cash flow!  I’ve […]