Best Fixed Asset Accounting Software of 2025

Here's what we'll cover:

What you need to know about fixed asset accounting software

What is fixed asset accounting software?

Essential features of fixed asset accounting software

Benefits of using fixed asset accounting software

How to choose the best fixed asset accounting software for you

Understanding fixed asset accounting trends

What you need to know about fixed asset accounting software

Fixed asset accounting software helps accounting and finance professionals track, manage, and account for depreciation on high-value assets, such as land, buildings, vehicles, furniture, and computers, that a company owns and expects to use in operations for an extended period of time (typically more than a year). It’s a good fit for companies that need accurate asset valuation for tax, reporting, or potential acquisition purposes.

Our data shows that nearly half of the 181 buyers who inquired about fixed asset accounting software over the last year were from midsize to large businesses (with 50 to 500 employees). [1] As companies grow and acquire more assets, manually tracking items becomes challenging, driving the need for automation. 

To give you an idea of the market's scope, we have around 157 different products for fixed asset accounting software listed on our site, with nearly 3,510 reviews published in the past year alone. [2] 

Pricing is a critical factor when selecting these solutions. Nearly 42% of buyers who spoke with our advisors last year budgeted between $210 and $410 per month. [1] If you’re not sure what your budget should be, our advisors can help you determine the right investment for your needs.

First-time buyers should consider the number and types of assets they want to track, their specific reporting needs, and necessary integrations. Consult stakeholders to determine what questions you need to ask vendors during an evaluation. Some questions you could consider are: 

• Is there a limit to the number of assets we can track?

• What depreciation methods does your software support?

• What standard reports does your software offer?

• How does your software stay updated with the latest tax laws?

With hundreds of software options available, picking the right solution can be daunting. We’ve created this guide to make that process a little bit simpler. You'll learn about the essential components of fixed asset accounting software, and get stepwise guidance on choosing the best option for you. We’ve also tapped into the knowledge of our accounting software advisors Eric Franco and Chris Soltani, who have been leading buyers to the right software over a combined 16 years.

What is fixed asset accounting software?

Fixed asset accounting software (also known as fixed asset management software) helps companies automatically track highly valued, tangible assets through the various stages of their lifecycle, from acquisition and depreciation through disposal. An asset is considered fixed when it’s owned and used for a long time, such as buildings, machinery, vehicles, and computers. 

With the right fixed asset management software, businesses can improve how they keep a list of their fixed assets, track their ownership and location, calculate how the assets lose value over time (called depreciation), claim the right deductions in tax season, and generate reports to show what a company owns and how much it’s worth. 

A common misconception buyers have is they can use this software to track any equipment. In reality, you need to be much more specific about what you're trying to manage and why. As Eric Franco, our advisor from Software Advice, explains, “Buyers may need different types of software to manage their assets, and they don't realize it until we talk with them. If you're mainly concerned with financial reporting and depreciation of all your company's long-term assets, fixed asset accounting software is what you need. But if your focus is on maintaining and scheduling repairs for your IT equipment, you might be better served by an IT asset management system.” Understanding this difference can help buyers choose the right tool for their needs.

Essential features of fixed asset accounting software

When comparing fixed assets management systems, it's important to know what common features you can expect to see. Our data shows that reviewers find these fixed asset accounting features as most valuable: [2]

While some features, like depreciation management, are core to fixed asset accounting software and come standard, others, like barcoding or RFID, may only be available in some solutions. Make a list of your must-have and nice-to-have features before you start evaluating options. This will guide you to the right fit without overpaying for extras you don't need.

Benefits of using fixed asset accounting software

Businesses get fixed asset software mainly to handle depreciation in-house instead of paying big bucks to outside accounting and CPA firms. Chris Soltani, who has been helping accounting buyers find the right tech solutions for 11 years, notes, “This software does complex calculations and journal entries automatically, saving buyers money on consultants fees and giving them more control over their assets.” Let’s look at some more ways this software helps businesses:

• Pay less in taxes. By accurately calculating depreciation according to the latest tax regulations and automatically checking for the tax code, the software ensures you claim every deduction you’re entitled to, potentially lowering your tax burden and maximizing your bottom line.

• Simplify processes. The tool ensures all your asset information is centralized, up to date, and easy to find. This simplification allows it to automate workflows for tasks like moving assets to off-site workers, tracking their return, and adding or disposing of assets.

• Improve data transparency. The software tracks your assets from start to finish, giving you an accurate record of their financial impact. It's like a secure database that stores all your asset information in one searchable spot.

• Make smarter asset decisions. Clear reports show you what you own and how much it's worth. This helps you decide when to fix, replace, or sell equipment. You can make your assets last longer and avoid buying stuff you don't need.

• Save money on insurance. Companies often think their assets are worth more than they are, leading to high insurance costs. With a clear view of your assets’ true worth, you pay for just the coverage you need while still protecting your business. Plus, if something gets lost or damaged, having detailed records makes insurance claims faster and easier.

• Stay compliant with the law. The software updates when the laws change, so your tax returns and financial reports always follow the rules. This makes audits easier and quicker.

How to choose the best fixed asset accounting software for you

Step 1: Define your requirements

Before you start shopping for a fixed asset accounting system, figure out exactly what you’re looking for. It’ll save you time and help avoid paying for things you don’t need. Here’s how you can do it:

Consider buyer-specific functionalities 

Depending on your industry and needs, you may want to look for specific features or characteristics. Our software advisors' interactions over the past year reveal diverse industry interest in fixed asset accounting software, with manufacturing (18%), construction (12%), and nonprofits (9%) leading the conversations. [1]

Manufacturing companies, for example, which featured prominently in our advisor discussions, may need a tool that can handle large equipment inventories and complex depreciation schedules. Construction, another frequent industry type, may need features to track assets remotely across multiple job sites. 

Pay attention to the following aspects when evaluating software:

• How many assets do you need to track, and what kinds? (e.g., buildings, vehicles, equipment, computers)

• Do you use a specific technique for inventory cataloging (e.g., barcodes or RFID tags)? If not, would you be implementing such a system?

• What depreciation methods do you want the software to use? (e.g., straight-line, declining balance) 

• What types of reports do you need? (e.g., asset listings, depreciation schedules, tax reports)

• Do you need to track assets in different currencies? (This is important if you want to sell assets overseas.)

• Do you have industry-specific needs? (e.g., large equipment inventories for manufacturing, mobile asset tracking for construction, grant compliance reporting for nonprofits)

• Do you want to schedule and track maintenance for your assets?

• Do you need to track the entire lifecycle of assets, from purchase to disposal? 

• Do different departments need to interact in managing these assets?

Answering these questions will give you a much clearer picture of what you need from fixed asset accounting software, and make it easier to narrow down your options.

Plan around integration options

Think about how the new software will work with your existing systems. Our data shows that 68% of buyers are looking for best-of-breed or standalone fixed asset accounting solutions. [1] This means that most buyers who are in the market for these solutions have an established technology stack for their other business needs. 

Start by mapping out your current software stack. What accounting system do you use? Do you have an ERP or project management tool? Make a list of all the systems that might need to interact with your fixed asset software. For example, your fixed asset software should automatically push depreciation data to your general ledger, ensuring accurate financial statements without manual data entry.

When talking to vendors, ask specific questions about these integrations:

• Are there any limitations on the applications the system can integrate with?

• How often does information update between systems?

• Can you see a live demonstration of how the systems work together?

Also, inquire about additional modules. Some vendors offer advanced features like predictive maintenance scheduling or asset performance analytics as add-ons. While you might not need these now, knowing they're available can future-proof your choice.

Step 2: Make a shortlist of fixed asset accounting software

Get qualified help from an advisor

At Software Advice, our advisors like Franco and Soltan have helped many accounting and finance buyers find their perfect software match. As one of our advisors puts it, "We take your unique needs, budget, and business size, and pair you with the ideal solutions—all in about 15-minutes of conversation.” If you need guidance, you can chat online now with an advisor or schedule a phone call. In just a few minutes, our advisors will provide you with a curated list of five potential solutions that align with your budget and business needs.

Explore our list of fixed asset accounting FrontRunners

If you’re not ready to talk to an advisor just yet, you can also start compiling your shortlist of fixed asset accounting software with our FrontRunners report. Only products that earn top user ratings make this list. To be eligible for consideration, a product must:

• Have at least 20 unique user reviews in the last 24 months

• Be a stand-alone fixed asset accounting system, not just a partial tool

• Offer key features like asset tracking and depreciation management

Check out our full methodology description for more details on how the report is compiled.

Step 3: Pick your best option

Getting ready for software demos

Once you've narrowed down your choices, it's time to schedule software demos with the vendors. These meetings are your chance to see the tools and features in action, understand the costs involved, and determine if a particular solution is worth your investment. Here are some questions you could ask vendors during demos:

• Can I customize this software to fit our specific asset tracking needs, such as handling different depreciation methods or managing diverse asset types?

• How do you assist in migrating current asset data into the new system?

• How does your software help in compliance with federal and local tax laws?

• What kind of reporting capabilities does the software offer, particularly for depreciation and taxation?

• Can you demonstrate how the software conducts reconciliation related to fixed assets during year-end closing?

By asking these questions, you'll gain a deeper understanding of how each software option may align with your specific needs in fixed asset accounting.

Understanding fixed asset accounting trends

Industry specialization: Because manufacturers have different needs than retailers or real estate investors, most fixed asset accounting vendors are beginning to tailor their software to specific industries. This forms a highly specific and usable solution with just the features you need.

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 federal, state, and local regulations but also that it's taking full advantage of all potential tax breaks. As tax rules get more complex, fixed asset software is evolving to include built-in updates for changing tax laws and helping you follow rules easily.

Intelligent processes: Artificial intelligence (AI) and machine learning (ML) technologies are being used to automate routine workflows, predict maintenance needs, and provide more accurate depreciation forecasts.

Integration with IoT devices: The Internet of Things (IoT) is beginning to be incorporated into fixed asset management. With IoT sensors, your software can tell where things are, how they're being used, and if they need attention—all in real time. It's like having eyes and ears on all your assets, all the time.

Related fixed asset accounting software

• IT Asset Management Software

• Facility Management Software

• Maintenance Management Software

• Inventory Management Software

• Help Desk Software

• Contract Management Software

• Accounting Software

• Lease Accounting Software

About our contributors

Author

Amita Jain is a senior writer for Software Advice, covering finance technology with a focus on expense management and accounting solutions for small-to-midsize businesses. After completing her master’s in policy studies from King’s College London, she began her career as a journalist in New Delhi, India, where she garnered first-hand knowledge of the startup space and the education sector. She spent nearly half a decade covering high-level events hosted by the United Nations and the Government of India. Her work has been featured in Careers360, among other publications. 

Amita’s research and writing for Software Advice is informed by more than 130,000 authentic user reviews and over 30,000 interactions between Software Advice software advisors and software buyers. Amita also regularly speaks to leaders in the finance and accounting space so she can provide the most up-to-date and helpful information to small and midsize businesses purchasing software or services.

When she’s not contemplating tech solutions for SMBs, Amita finds her zen in swimming, doodling, and indulging in animated sitcoms and science fiction.

Editor

Parul Sharma is a content editor at Software Advice with expertise in curating content for various niches, including SaaS, digital marketing, and search engine optimization. With over half a decade of experience in content writing and editing, Parul has the expertise to simplify complex terms into engaging, valuable content for targeted audiences. She completed her graduation and post-graduation in English literature from Delhi University and was awarded the Dr. Asha Sahni Memorial Award for being the highest scorer in her graduating class. 

Parul has contributed to the news, lifestyle, education, and health verticle of DNA India, India’s premier media channel. Outside of work, she can be found curating healthy recipes, coloring in mandala books, and spending quality time with her family.

Advisors

Eric Franco is a senior advisor. He joined Software Advice in 2019, and he is based in Austin, TX.

Eric works directly with small business leaders to connect them with best fit software providers. He assesses the technology needs of small businesses seeking accounting, manufacturing, learning management, and supply chain software through one-to-one conversations and provides a short list of potential matches. 

His favorite part of being a software advisor is hearing the sense of relief in a stressed buyer’s voice when they realize he can help them find the right software for their needs.

Chris Soltani is a senior advisor. He joined Software Advice in 2013 as a software advisor, and he is based in Austin, TX.

As part of the software advisor team, Chris helps accounting, project management, and supply chain industry professionals find budgeting, collaboration, inventory management, and billing and invoicing tools. He provides a short list of personalized technology recommendations based on budget, business goals, and other specific needs. 

Chris’s favorite part of being a software advisor is truly helping buyers overcome challenges when they’re researching the hundreds of software options online.

Sources

1. Software Advice advisor call notes: Findings are based on data from telephonic conversations that Software Advice’s advisor team had with small-to-midsize businesses seeking property management tools. For this report, we analyzed phone interactions from August 23, 2023, to August 23, 2024. 

2. Software Advice reviews data: Reviews are collected from verified users for individual software products. For this report, we analyzed reviews from August 23, 2023, to August 23, 2024.