Taxes. Like it or not, we all have to pay them. Filing and paying business taxes can be stressful and time-consuming. But here’s the worst part–you might be paying too much! Sure, you may not think so, but the statistics say something different.
According to a recent study by Forbes, 93% of business owners overpay their taxes. This means that only 1 out of every 10 business owners isn’t overpaying. Now, prepare yourself for this next piece of data. On average, small business owners overpay their taxes by a whopping $11,500. That’s a nice chunk of money that could be reinvested in your business to generate higher revenue.
While the idea that you’re overpaying your taxes is a hard pill to swallow, there is an upside. You can potentially save a good bit of money with one simple tool: Sage Fixed Assets.
Let’s find out how this accounting software can take the pain out of tax season.
Effortlessly Manage Your Inventory
Have you tried performing physical fixed asset inventories on your own? It has the potential to be a real logistics nightmare. When you have several inventories and even multiple sites, the risk of improperly conducting inventories is huge.
Still, you have to have a way to organize and track the items most crucial to your organization.
So, what does it take to optimize inventory management?
Sage Fixed Assets is designed to make performing those physical asset inventories a breeze. With Microsoft Windows Mobile barcode scanners, you’ll be able to go through each part of the inventory process in an organized fashion.
The following tasks are made easier with Sage Fixed Assets:
- The elimination of assets that have been lost or stolen
- Description of asset records
- Data entry
- Synchronization of asset data with other departments
- Manage depreciation
- Comply with government regulations
By managing your inventory seamlessly, you’ll not only reduce frustration and improve accuracy; you’ll also be able to reduce insurance and the risk of overpaying taxes.
Efficiently Monitor Projects
Projects are at the heart of what your business does, but tracking them is no easy to task. There are contacts, financial information and reports to manage.
Each project has its own individual tasks and deadlines as well. Plus, you need security settings to protect confidential information.
Sage Fixed Assets revolutionizes project management in a way that fits your business’s needs.
You’ll be able to:
- Track completion of projects including financial records
- Build custom access profiles and security settings for each project or product
- Monitor status of projects with status updates and reports
- Sync records and projects with accounting and accounts payable records
Being able to access and update your records easily is critical to avoiding tax overpayment.
Penalties for late payments can certainly add up. The reminders and automation found in Sage Fixed Assets reduce the potential for human error, ensuring that you pay on time, every time.
You can forget about late penalties.
What makes Sage Fixed Assets unique is its seamless business expense tracking and industry- specific solutions. It takes the complexity out of understanding your records with its analytics- focused dashboard. That means you’ll have the financial information right at your fingertips, anytime, anywhere.
At SYGNVS Integrated Solutions, we believe in technology that makes the business life easier. Allow us to take the frustration out of paying your business taxes with the right IT solution like Sage Fixed Assets.
For more information about how this software can streamline your business operations, get in touch with our team at SYGNVS Integrated Solutions today.
