Fixed asset software, such as Sage Fixed Assets, can help you protect your company’s material investments and ensure that your assets are properly accounted for and readily available. What you may not know, however, is the software can be equally effective in helping you recover from a significant disaster (such as a tornado, fire, flood, etc.). Many businesses have found great value in using a fixed assets program to properly maintain the value of their fixed assets so there is no question when it comes time to collect an insurance claim or tax deduction on the fixed assets lost in the disaster.
With Sage Fixed Assets, you can accurately determine the value of each damaged item prior to the disaster simply by using the depreciation calculator. This helps you determine the actual damage to your fixed assets and physical property, as well as gives you an idea of what you can claim from insurance. The benefits of Sage Fixed Assets, however, don’t just come into play post-disaster. Even before a disaster hits, you can use Sage Fixed Assets to collect and manage information pertaining to any item’s make, model, purchase date and other specifications to allow decision makers to choose the best way to protect the fixed asset properly. Using the software, you can also schedule equipment audits, repairs and maintenance to ensure your fixed assets remain covered effectively.
Always be Prepared – Create a Contingency Plan
While it’s always a good idea to take precautions to prevent damage, it’s also a good idea to create a plan for potential losses. With the depreciation calculator within Sage Fixed Assets, you can automatically calculate product depreciation rates, providing business leaders with a clear and accurate value of their property. This information will prove invaluable in the instance of any disaster, as your insurance company will need to have an accurate summary of your losses. With the right information on hand, you can quickly calculate your losses, file an insurance claim, and get back to business.
Contact us today if you’d like to learn more about Sage Fixed Assets and how you can properly protect your material investments.