The depreciation of physical assets can incur significant financial savings throughout the course of an asset's life. This white paper highlights the concept of managing depreciation and how to take advantage of the IRS' Section 179 deduction.
The “asset registry" feature of Visual Asset Manager 6 tracks assets easily through a centralized database. This registry is customizable to manage data that needs to be collected to track a variety of information.
This white paper will show you how to customize the asset registry to track a variety of depreciation methods, and also show what is built into Visual Asset Manager’s database to make depreciation methods easy.
Visual Asset Manager implements depreciation tracking by using the built-in tab/field editor. A key feature of this editor is the ability to import a data file that creates a set of data fields in the asset database along with the field layout for the tab. Tab files are stored on the Visual Asset Manager Support site in the customization forum.
This whitepaper will teach you:
- Methods and strategies for dealing with depreciation.
- How to calculate and report depreciation in Visual Asset Manager
- How to qualify assets according to the MACRS (Modified Accelerated Cost Recovery System)
- To understand the Section 179 deduction of the IRS tax code
The financial strategies provided in this white paper are designed to help Visual Asset Manager users create their own financial reporting based on data stored inside the database. Additionally, the markup language used in spreadsheets provides a powerful feature that is not found in other asset management systems.
Please fill out the following form and we'll email you the 25-page whitepaper containing this valuable information.