Home/Glossary/Fixed Asset ManagementUpdated on: April 20, 2024

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What is Fixed Asset Management?

Fixed asset management is the process of tracking and maintaining an organization’s physical assets and equipment. Asset types include vehicles, computers, furniture and machinery. Fixed asset management enables organizations to monitor equipment and vehicles, assess their condition, and keep them in good working order. In this way, they minimize lost inventory, equipment failures and downtime — and improve an asset’s lifetime value. Fixed assets such as servers, transport trucks and elevators require a large capital investment. They may comprise a large portion of a company’s net worth. In some businesses, as much as 40 percent of investment goes to buying equipment and vehicles. The better and more effectively a company manages its assets, the greater the prospect of maximizing value from these investments.

Software with Fixed Asset Management

PRODUCT NAME SW SCORE (OUT OF 100) AGGREGATED RATINGS (OUT OF 5)
Quickbooks 98 4.2
Freshbooks 96 4.4
Wave 96 4.2
Xero 95 4.3
FreeAgent 94 4.7
Zoho Books 94 4.3
MYOB 93 4.1
Sage Accounting (Sage One) 90 4.5
Accounting Seed 90 4.2
AlignBooks 89 4.6

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