Whether you are a small or large business, fixed asset accounting software will benefit you in more ways than one, helping you track asset characteristics, such as audit history, location, and maintenance scheduling, and calculate cost and depreciation. The right fixed asset accounting software is your key to improving efficiency and financial strength that gives you an accurate assessment of your assets, thus helping you avoid unnecessary equipment purchases and upgrades.
1. Sage 300 Construction and Real Estate
A powerful construction management and on-premise accounting solution, Sage 300 Construction and Real Estate software is a comprehensive solution for the project, document, and accounting management that helps you achieve financial and productivity goals. User-friendly, flexible, and reliable, the fixed asset accounting software is simple to customize and backed with excellent customer support.
The software needs to improve on its address book, which isn’t automated and requires you to manually add contacts. Moreover, some fields are too short to input all of the required information.
2. Intacct
With a broad set of functionality, Intacct is designed to support applications for project accounting, core accounting, revenue management, financial reporting, purchasing, order & billing, and multi-currency management.
The user-friendly and organized Software-as-a-Service program is available on demand online. Intacct uses Oracle as its database and IBM e-business hosting centers for hosting data. Cloud-based, flexible, and responsive, the software enables easy access to all of your financial processes.
Intacct could improve on its customization features to enable changes in preference settings. Since the platform is constantly improving, it is expected that Intacct will not disappoint users once the updates take place.
3. Intuit QuickBooks Enterprise
As one of the best-known accounting solutions available, the Intuit QuickBooks Enterprise Solutions is a perfect fit for small and medium businesses, with streamlined reporting and Excel integration. With robust reporting tools, the fixed asset accounting software facilitates document management and audit trails to analyze data and make informed business decisions.
It is one of the most flexible and scalable accounting systems for businesses that manage multiple locations, users, workflows, or influx of transaction data. The system facilitates working in a centralized platform, which enables flawless and seamless communication within the organization.
Though it is the best product to simplify your business, it should be a little more user-friendly and intuitive so that users can optimize its use. More flexibility is needed for data selection and formatting in the case of canned financial reports. All in all, Intuit QuickBooks Enterprise is the perfect accounting solution for startups and small businesses.
4. Financial Edge NXT
A web-based fund accounting solution, Financial Edge NXT features multiple modules, including fixed assets, payroll, AP/AR, General Ledger, grant management, and billing and invoicing, which enable you to measure your productivity and profitability. The platform comes with a personalized dashboard that enables real-time reporting and close monitoring of income statements, cash metrics, and program-to-expense ratios.
The product could be made more intuitive for users to export data into Excel, as manual formatting is required after you move the data. Moreover, some of its tabs and buttons can get confusing to more users. Some form of training in fixed asset accounting software could certainly help.
5. Microsoft Dynamics GP
Microsoft Dynamics GP is an integrated enterprise resource planning suite designed for small and medium-sized businesses, with 15 user-defined fields. Being a Microsoft product, the highly flexible, intuitive, and scalable solution offers community support via online forums. The product is highly customizable, which means you can purchase and include additional features from its a la carte modules to cater to your specific requirements.
Creating smart lists can be a little confusing for new users; however, the issue can be resolved with training. Moreover, the software may not integrate with third-party products. The fixed asset accounting software may be the best option for large businesses that do not have budgetary constraints and can invest in a number of additional software and pay for the extra licensing costs for the new products.
Wondering which fixed asset accounting software would be the best fit for your business? At ITQlick, our team of experts can guide you through the selection process and help you find the right product for your specific needs to help you grow, expand, and succeed. Come in touch with us today!