Author : Jordan Reader

Fixed Asset Management


When working towards closing a financial period, whether it’s monthly, quarterly, or annually, there can be quite a lot of additional accounting adjustments to make after the general bookkeeping work has been completed. 

Depreciation of fixed assets, prepayments of costs paid in advance, income deferred where an invoice is raised in advance, and accruals put in place for costs not yet incurred and income not yet invoiced.  Working out what the adjustments should be, creating accounting journal entries to update the profit and loss, and maintaining a list of all the adjustments made to agree back to the balance sheet can take up a considerable amount of time.

NettTracker helps businesses to automate accounting adjustments, with statements updated every month that should always agree back to totals on the balance sheet. The software works to save time on calculating adjustments, posting journal entries, and updating working papers that reconcile to the balance sheet. 

More Information

Cost Standard: £15 for one company. Firms can utilise a tiered package, with an additional company costing £2.50 and incrementally lowering for each company added.
Competitors FMIS, WorkPal, Sage Fixed Assets
Function Fixed Asset Management
USP nettTracker allows you to ‘Set and Forget’. Asset purchases can be detected, added to the asset register, and all required depreciation calculated, and posted automatically every month.
Use Case Accounting firms that have to make accounting adjustments in their clients accounting software, can save time once the initial settings are put in place in nettTracker. Fixed assets can be fully automated, meaning only an annual review may be necessary.
Features Create unlimited Depreciation Rules | Create unlimited Asset Groups | Automatically detect asset purchase | Detection of changes to transactions used to create assets | Created unlimited groups for Prepaid Expenses, Deferred Income, Accrued Expenses, Accrued Income
Strengths Unlimited users – within the accounting firm and clients | Regularly updated online tutorials Free support | Real-time reporting
Considerations Pricing is on a per company basis. This model may not suit every business.
Target Customers Accounting firms | Accountants in Industry that produce monthly/quarterly management reports

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