Fixed assets register

[ghopfeldt]

Hi Everyone

I'm knew to this forum. Hopefully in time I can add value and learn.

Please tell me how you manage fixed assets. So fixed asset details including location, cost, depreciation and so on. Do you have a fixed asset register spreadsheet, an online service, or does your accounting software have this function? I am an accountant and so I’m comfortable managing fixed assets myself. My question really is how others manage theirs, as I’ve learned that some people battle with this.

I'm trying to figure out if it's worth building a SAAS, aimed primarily at small businesses, that helps with this problem. If people don't care about it, or are comfortable with whatever solution they have, then there is nothing to build.

Thanks

 

[ctrlbrk]

I'm trying to figure out if it's worth building a SAAS, aimed primarily at small businesses,

Hi, welcome

I think it depends on the size of the small business.

In my case (sole director, no formal employees) we just had a laptop and we asked our accountant whether it was worth to put it in the books as an asset and, considering the depreciation and the remaning useful life he said 'don't bother', so we didn't.

 

[fisicx]

Same here. Except I had a laptop and additional screen (such extravagance). Accountant has set the residual value at £50 or something like that.

 

[ghopfeldt]

Thanks for the answers. It would probably need to be a business with 10 or more fixed assets.