Fixed Assets & Depreciation
All new property acquisitions must be recorded and classified properly. They are critical assets of the company since most of them are used in the production process and daily business operation. Common examples of these assets are tools and equipment, vehicles, buildings and facilities, land, and other acquisitions that will be used for more than a year. But the problem of most business owners is on how to classify them. In fact, proper determination of fixed assets and depreciation is one of the issues that we usually encounter in our client's books. They commonly use inappropriate depreciation method and assumptions which changes the outcome of their financial statements.
At Las Vegas Bookkeeping, we help business owners avoid these problems. We are composed of certified accountants with lengthy experience in preparing financial statements for small businesses and corporations. Our people know the different depreciation methods and assist clients in the proper classification of their fixed assets. Our primary aim is to provide clients with reliable and accurate financial records. Please contact us now if you feel that your fixed assets are not recorded properly or if you are having a hard time determining the right lifespan of your newly acquired equipment. Our seasoned accountants are always ready to provide you expert advice on issues related to your company’s fixed assets and depreciation schedule. Call us at (702) 813-0011 or visit us at our Henderson office for a free consultation. We serve clients from Nevada and Illinois areas.
Experts in Fixed Assets and Depreciation
Recording fixed assets and depreciation in your books or accounting system requires expertise and knowledge of accounting principles. For example, the depreciation of fixed assets must be determined properly to avoid errors in your financial statements. It will also help decision makers like you prepare realistic budget proposals and sound business plans. Future purchases or acquisitions will depend on how you setup depreciation. Poorly made assumptions such as extending the useful life of your fixed assets can lead to costly maintenance and even cause disruptions on your business operations in the future. With Las Vegas Bookkeeping, you will be able to avoid these issues. We will make sure that all your fixed assets are classified properly and the correct depreciation method is used on your assets.
Moreover, our accountants will perform these tasks for you:
- Record new asset acquisition
- Determine the lifespan of newly acquired asset
- Setup depreciation
- Create schedule for new assets
- Record monthly depreciation expenses
- Record necessary adjustments for retired or sold equipment
Trust an Established Accounting Firm
Your financial records reflect the stability of your company. They are not only used for determining the company's tax liabilities but also help business owners make sound financial decisions. But using inaccurate information from your income statement or balance sheet may lead to serious problems. You can avoid this by hiring an established accounting firm like us at Las Vegas Bookkeeping. With our years of experience in the industry, we can work efficiently, accurately, and promptly. We use systematic procedures and adhere to sound accounting principles, so you are guaranteed of accurate financial records. We also use modern accounting software to make our jobs more efficient.Aside from our expertise in determining fixed assets and depreciation, you can also rely on our expertise in tax preparation, cash management, managing accounts receivable and payable, and other accounting related tasks. Call us now.