It is commonly known that 'month-ends' can be for most accountants 'a desperate panic of late nights trawling through those familiar journals and spreadsheets to hopefully pull together a set of management accounts that make some kind of sense.'
However, have you ever considered the cost your organisation is enduring from using manual processes to complete your end of year accounts, such as:
1. Missed business opportunity – focusing more on getting the numbers than interpreting them can cost the business dearly.
2. Increased staff turnover – the extra workload and pressures can mean it is harder to hang onto employees.
3. Less accurate accounting – with little time and lots to do, the accounts are prone to errors.
By investing in a specialist asset register, which automatically calculates depreciation, capital charges on all your assets, your business can avoid the extra stress, time and inaccuracies caused by pressure exerted on accountants to manually process all asset accounting related reports.
For more information on specialist asset management software which will enable your organisation to automate its asset accounting processes, please click here.