One of the cornerstones of good business is accurate and informed asset management. No matter how good your business strategy is, you will never be able to hold on to your operating capital without careful management of your finances.
The danger of using spreadsheets
If your office is using a product like Microsoft’s Excel to manage finance lease, AASB16 or hire purchase agreements, you will definitely run into issues. Spreadsheets are extremely expensive to develop. They are prone to errors. How often do multiple people need to access the data and someone makes a mistake that cannot be traced. Spreadsheets are hard to learn, hard to use, and full of human errors.
It is also rare for spreadsheets to provide extensive reporting of payment forecasts. Not to mention, notifications of upcoming payouts and refinancing needs to be done manually. When depreciation rules change it can be expensive to update and test spreadsheets to reflect the new rules. Some businesses actually need to bring experts in, just to enter new leases and process monthly journals.
How to automate and control your lease and hire purchase data
There are many software options out there which claim to replace spreadsheets. These are usually full of hidden costs. However, here is a trusted, fully Australian option which delivers on its promise: AssetAccountant. When purchasing AssetAccountant, you know exactly what the costs are. The best part is that it works out way cheaper than using spreadsheets.
Here’s how it works. AssetAccountant is easy to learn and use. ALL the work can be done by your Bookkeeper. If you need a little extra help, they have a support desk (located in Australia) at no extra charge. The software is kept up to date with the latest tax laws and regulations. Plus you get extensive reporting on monthly journals, future payments and much more.
Here’s an overview of how it could benefit you:
- Simple to use and understand
- All calculations within the software work 100%
- Leases and HP’s can be refinanced
- Access to helpful, local Australian support
- Powerful reporting is included with mind blowing capabilities such as:
- Monthly journals
- Future payments
- Reporting showing period or year to date movement
- Comprehensive reporting in Excel exports
- Loan amount and liability by finance company
If you would like to know more about this incredible software, or see it live in action, feel free to content me on 02 9437 6417 or send an email to email@example.com.