To put it simply, a fixed asset is an asset that’s purchased by the company and registered as a fixed asset, which means that the company doesn’t plan on selling it or otherwise converting it into a monetary value within the upcoming year after purchase. These assets usually relate to infrastructure, such as buildings, lands or machinery, meaning that they’re not assets that are directly sold to customers. Nonetheless, they’re oftentimes very important to a company’s day-to-day operations. Since tracking multiple locations, conditions and maintenance requirements for assets can be difficult and time-consuming, a tried and trusted system can help businesses quickly implement an efficient, serial code-based asset accounting system that makes the entire process easier to handle.Payroll processes are time-consuming and error-prone when manually done. A misplaced “0” or decimal point can wreak havoc to your finances. You can turn to payroll automation to avoid inaccurate financial statements and penalties. It syncs and consolidates employee data and regulatory rules and automates calculations, leaving no room for an oversight.