Compliance issues are critical to organizations today. Whether companies seek a compliance solution for GASB 34, Sarbanes-Oxley, or PPT filings or a front-end for fixed asset accounting Asset Systems, Inc. has the solution.

When looking to implement a new fixed asset accounting system for depreciating assets, an Association was faced with the decision to either convert existing fixed asset data, or create a new database. With help from Asset Systems, the Association elected to inventory all capital assets and replace existing manual asset numbers with bar coded numbers. In doing so, future audits could be performed electronically.

The inventory would also provide updated information regarding the location and cost center of each asset. As assets were tagged with the new asset numbers, the manual asset numbers were also captured for use in the final reconciliation. In addition, the manufacturer, model number, serial number, and asset classification were also captured for each asset.

Upon completing the inventory, the old and new databases were electronically compared using the manual asset number field.Once the reconciliation was completed, the final data file was imported to the new fixed asset accounting system for depreciating assets long term.