We've helped hundreds of businesses choose the right fixed asset software so they can track depreciation and increase visibility into asset life cycle. How does it work?

Fixed Asset Software


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NetSuite logo
 
NetSuite is a business management software suite offered as a service that performs enterprise resource planning (ERP) and customer relationship management (CRM) functions. It is a horizontal package designed for an extensive range... Read More
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NetSuite is a business management software suite offered as a service that performs enterprise resource planning (ERP) and customer relationship management (CRM) functions. It is a horizontal package designed for an extensive range... Read More
 
Multiview logo
 
For organizations seeking a solution that conforms to their existing operations, Multiview offers a suite of financial solutions. With Multiview, companies gain visibility over corporate data. The solution includes 14 modules that... Read More
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For organizations seeking a solution that conforms to their existing operations, Multiview offers a suite of financial solutions. With Multiview, companies gain visibility over corporate data. The solution includes 14 modules that... Read More
 
Cougar Mountain DENALI logo
 
Cougar Mountain Software offers a business accounting software for manufacturing, nonprofits and public services organizations. Their flagship product Denali is a core accounting solution with applications for general ledger, accounts... Read More
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Cougar Mountain Software offers a business accounting software for manufacturing, nonprofits and public services organizations. Their flagship product Denali is a core accounting solution with applications for general ledger, accounts... Read More
 
Sage Live logo
 
Sage Live is a cloud-based and mobile ready accounting platform for small and mid-sized businesses. Key features include multi-company, multi-currency, and multi-legislation support, personalization based on user role, bank integration,... Read More
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Sage Live is a cloud-based and mobile ready accounting platform for small and mid-sized businesses. Key features include multi-company, multi-currency, and multi-legislation support, personalization based on user role, bank integration,... Read More
 
BNA Fixed Assets logo
 
BNA Fixed Assets from Bloomberg BNA is a system that helps companies of all sizes manage the entire lifecycle of their fixed assets, from construction and purchase through retirement. BNA Fixed Assets eliminates duplicate entry and... Read More
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BNA Fixed Assets from Bloomberg BNA is a system that helps companies of all sizes manage the entire lifecycle of their fixed assets, from construction and purchase through retirement. BNA Fixed Assets eliminates duplicate entry and... Read More

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Sage Intacct logo
 
Sage Intacct is a provider of cloud-based accounting software. Sage Intacct’s applications are suitable for small and midsize companies and can provide real-time financial and operational insights as well as the ability to automate... Read More
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Sage Intacct is a provider of cloud-based accounting software. Sage Intacct’s applications are suitable for small and midsize companies and can provide real-time financial and operational insights as well as the ability to automate... Read More
 
Deskera logo
 
Deskera is an enterprise resource planning software formulated to run manufacturing operations. The system is suitable for companies manufacturing for a variety of industries. Textiles, automotive, distribution, metal processing, pharmaceuticals,... Read More
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Deskera is an enterprise resource planning software formulated to run manufacturing operations. The system is suitable for companies manufacturing for a variety of industries. Textiles, automotive, distribution, metal processing, pharmaceuticals,... Read More
 
Series4000 logo
 
Real Asset Management (RAM) has been an industry-leading provider of fixed asset management and asset tracking solutions for more than thirty years, providing software that is currently in use by thousands of companies worldwide. Their... Read More
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Real Asset Management (RAM) has been an industry-leading provider of fixed asset management and asset tracking solutions for more than thirty years, providing software that is currently in use by thousands of companies worldwide. Their... Read More
 
Financial Edge by Blackbaud logo
 
Financial Edge NXT is a cloud accounting solution from Blackbaud that provides transparency across teams, security, compliance, and reduces the need for manual processes. The system is a fund accounting solution that provides a general... Read More
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Financial Edge NXT is a cloud accounting solution from Blackbaud that provides transparency across teams, security, compliance, and reduces the need for manual processes. The system is a fund accounting solution that provides a general... Read More
 
SAP ERP Core Finance logo
 
Over 30,000 companies, spanning 120 different countries, are using SAP ERP Financials to conduct their financial management.  Noteworthy names include General Mills and Office Max. SAP ERP Financials is a part of SAP’s Business... Read More
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Over 30,000 companies, spanning 120 different countries, are using SAP ERP Financials to conduct their financial management.  Noteworthy names include General Mills and Office Max. SAP ERP Financials is a part of SAP’s Business... Read More

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AccuFund Accounting Suite logo
 
AccuFund is an online accounting and financial reporting solution designed specifically for the nonprofit industry. Integrated into one, AccuFund's Accounting suite helps nonprofit organizations and government agencies report funding... Read More
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AccuFund is an online accounting and financial reporting solution designed specifically for the nonprofit industry. Integrated into one, AccuFund's Accounting suite helps nonprofit organizations and government agencies report funding... Read More
 
SAP Anywhere logo
 
SAP Anywhere integrates sales, marketing, e-commerce, and inventory activities into one complete front-office system. With SAP Anywhere users can manage and track inventory, manage orders, manage the procurement process, and more.... Read More
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SAP Anywhere integrates sales, marketing, e-commerce, and inventory activities into one complete front-office system. With SAP Anywhere users can manage and track inventory, manage orders, manage the procurement process, and more.... Read More
 
Abila MIP Fund Accounting logo
 
Abila MIP Fund Accounting from ProSoft Solutions is a finance management and fund accounting solution designed to serve nonprofits and government agencies. The solution can be deployed on-premise, in the cloud or be self-hosted. Abila... Read More
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Abila MIP Fund Accounting from ProSoft Solutions is a finance management and fund accounting solution designed to serve nonprofits and government agencies. The solution can be deployed on-premise, in the cloud or be self-hosted. Abila... Read More
 
VersAccounts Small Business Cloud ERP logo
 
VersAccounts is a web-based accounting and enterprise resource planning (ERP) system designed for growing small and midsized businesses looking to gain real-time financial and operational insights. This Cloud 2.0 system enables businesses... Read More
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VersAccounts is a web-based accounting and enterprise resource planning (ERP) system designed for growing small and midsized businesses looking to gain real-time financial and operational insights. This Cloud 2.0 system enables businesses... Read More
 
Acumatica ERP logo
 
Acumatica ERP delivers an adaptable cloud and mobile-based enterprise resource planning solution with a user licensing model which enables a real-time view of business operations at any time from anywhere. Through a worldwide network... Read More
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Acumatica ERP delivers an adaptable cloud and mobile-based enterprise resource planning solution with a user licensing model which enables a real-time view of business operations at any time from anywhere. Through a worldwide network... Read More

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Sage 100 Standard and Advanced ERP (formerly Sage ERP MAS 90 and 200) logo
 
Sage 100 ERP (formerly branded as Sage ERP MAS 90 and 200) is an enterprise resource planning (ERP) software system for small and midsize businesses. The solution is typically recommended to companies with annual revenue between one... Read More
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Sage 100 ERP (formerly branded as Sage ERP MAS 90 and 200) is an enterprise resource planning (ERP) software system for small and midsize businesses. The solution is typically recommended to companies with annual revenue between one... Read More
 
FMIS Fixed Assets logo
 
FMIS Fixed Assets is a fixed asset management system for medium to large asset-intensive organisations. The company has nearly 30 years’ experience in asset management software and over 95% customer loyalty. The software is comprehensive... Read More
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FMIS Fixed Assets is a fixed asset management system for medium to large asset-intensive organisations. The company has nearly 30 years’ experience in asset management software and over 95% customer loyalty. The software is comprehensive... Read More
 
Oracle JD Edwards logo
 
JD Edwards Financial Management is the accounting component of Oracle's JD Edwards EnterpriseOne (JDE e1) product line. This component can serve businesses of any size. The system is horizontal; it is designed to serve the needs of... Read More
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JD Edwards Financial Management is the accounting component of Oracle's JD Edwards EnterpriseOne (JDE e1) product line. This component can serve businesses of any size. The system is horizontal; it is designed to serve the needs of... Read More
 
SAP Business One logo
 
SAP Business One is an integrated enterprise resource planning (ERP) software suite designed primarily to serve small to midsize businesses. SAP Business One is used to address the needs of many industry verticals including manufacturing,... Read More
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SAP Business One is an integrated enterprise resource planning (ERP) software suite designed primarily to serve small to midsize businesses. SAP Business One is used to address the needs of many industry verticals including manufacturing,... Read More
 
FinancialForce Financial Management logo
 
FinancialForce Financial Management (FM) is a cloud-based system built to provide a complete financial management solution for sales and services-orientated companies of all sizes. FinancialForce FM has several inherent applications,... Read More
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FinancialForce Financial Management (FM) is a cloud-based system built to provide a complete financial management solution for sales and services-orientated companies of all sizes. FinancialForce FM has several inherent applications,... Read More
 

Buyer's Guide

by Lisa Hedges,
Content Analyst
Last Updated: September 1, 2017


Fixed assets are tangible items, e.g. machinery, buildings or land, that a business owns and expects to use in its operations for a significant amount of time (typically, longer than a year). These items are essential business tools and as such are important to safeguard and maintain. However, many companies are still using spreadsheets to track this critical information.

Smart managers and business owners looking to automate the process of tracking fixed assets are beginning to look specifically at fixed asset systems—but there are dozens of such programs, which can make picking the right solution challenging. We’ve created this buyer’s guide to make that process a little bit simpler.

Here’s what we’ll cover:

What Is Fixed Asset Software?
What Type of Buyer Are You?
Benefits and Potential Issues
Market Trends to Understand
The Vendor Landscape

What Is Fixed Asset Accounting Software?

This type of software automates the process of tracking assets through the various stages in the asset lifecycle, from acquisition through disposal. With the right asset manager software, a business can improve efficiency and financial strength by maintaining its existing assets while avoiding unnecessary equipment purchases and upgrades.

These systems allow for greater transparency into important asset characteristics, including:

  • Location
  • Check-in and check-out
  • Due date for return
  • Maintenance scheduling
  • Audit history
  • Cost
  • Depreciation

Fixed asset software can also aid in minimizing taxes and insurance costs by accurately calculating tax and automatically checking for tax code and regulatory compliance. Using fixed asset depreciation software and schedules to precisely calculate taxes with a frequently upgraded program enables a company to maximize tax savings while automatically staying up-to-date with relevant changes to tax laws.

Screenshot of Intacct user dashboard

Screenshot of Intacct user dashboard

These programs can integrate with the general ledger, allowing information to easily be combined and compared with general accounting records. This promotes a seamless and consistent view of a company’s financial situation and the status of its assets. Some software packages can even incorporate and track conversion of asset value in other currencies. This automated feature clearly expands the geographic communication options of a company’s assets and potentially makes it easier to sell assets overseas.

What Type of Buyer Are You?

Depending on your industry and needs, you may want to look for specific features or characteristics designed for accounting for fixed assets. For instance, a company using barcodes to catalog its assets should look for the corresponding method, whereas a company that prefers radio frequency identification (RFID) should find a solution with that feature included. A business using a certain type of tax system, such as ProSeries, might want to look for asset accounting software that can import data from that type of program.

When searching for a fixed asset management system, pay attention to the following criteria:

  • Does the system incorporate a specific type of inventory cataloguing (i.e., barcodes, RFID etc.)?
  • Does it use the right methods to calculate depreciation?
  • Is it tailored to your company size?
  • Can it integrate with a general ledger software program or other programs preferred by the company (ProSeries tax systems etc.)?
  • Can the program adequately track sales of such assets and provide information about the gains or losses from the sale?
  • Can the system track maintenance schedules and issue reminders when maintenance is due?
  • Will the company want to take advantage of features which allow collaboration and interaction between different departments in managing these assets?

You’ll also want to consider whether you want a standalone system to be installed on-premise, or if you’d prefer a Web-based system with lower up-front costs. You can use our Total Cost of Ownership calculator to analyze the short-term vs. long-term cost differences between on-premise and web-based systems.

Benefits and Potential Issues

Fixed asset management software provides the following concrete benefits:

Simplified processes. Fixed asset software automates workflow processes and reduces errors due to manual data entry. This increases visibility into various actions, such as transferring assets, adding or disposing of assets, tracking depreciation and managing inventory. Additionally, these systems should integrate directly with other accounting modules, allowing for seamless data transfer between applications.

Accurate depreciation. Tracking asset depreciation using spreadsheets is highly inefficient and puts businesses at a greater risk for human error. The best fixed asset software solutions will update automatically when laws change, they minimize human data entry and they are guaranteed to provide accurate calculations.

Improved data transparency. Tracking assets throughout their lifecycle provides businesses with an accurate audit trail and financial record. The fixed asset system acts as a secure database, storing all asset-related information in one searchable location.

Any time you purchase a new program, implementation is a critical consideration. Ensure you have an adequate training program and that you involve all potential users involved in the selection process, so they look forward to using the new system, rather than having it be forced on them by their superiors.

Market Trends to Understand

There are a few trends affecting the fixed asset software market:

Software as a service (SaaS). In most industries, accounting included, more programs are being developed as Web-based platforms with a monthly fee for service. This eliminates the need for an expensive IT infrastructure and shifts the costs to being a long-term operational expense, rather than a major up-front capital investment. A web-based fixed asset system enables businesses to access their fixed asset data in real-time, from any location.

Industry specialization. Because manufacturers have different needs than retailers or real estate investors, most vendors are beginning to tailor their program to specific industries. This forms a highly specific and usable solution with all the features you need and none of the ones you don’t.

Tax compliance. One of the main uses of fixed asset management software is tax compliance, ensuring not only that the company is in full compliance with all state, federal and local regulations but also that it's taking full advantage of all potential tax breaks. Fixed asset systems can streamline the process of preparing compliance reports and often include pre-configured report options.

The Vendor Landscape

There a number of different products providing management tools in their systems, but below are some of the major players, by industry type:

These types of buyers... Should evaluate these systems...
Commercial Epicor, Sage, Netsuite, Microsoft Dynamics, SAP
Public sector Sage Accpac, Serenic
Nonprofit Accufund, Sage, Serenic

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