March 2, 2017 * John Adams at 3:21 pm

Maintain the records stored in the database via SapphireOne’s Asset Inquiry

Assets is the resources of the business. It is the material one has, to make a difference. A nice term for it is something that has probable future economic benefit, or which has a future and is potentially valuable. For example, food in the refrigerator is an asset because it has a value and we can eat it. Asset Inquiry and management refers to the management of your company’s assets. The term also applies to dealing with other organisations’ or companies’ investments. Assets can be tangible, are things we can touch and include buildings, land, computers, or office equipment. Intangible assets are things we cannot touch such as intellectual property, goodwill, financial assets, or human capital.

Asset Inquiry in a Business

In business, assets usually classed in the following way–

  1. Cash or money – This is the one of the main assets in business.
  2. Supplies – Supplies are those types of things that you use or consume in business. Before businesses start using them, they are called supplies.
  3. Prepaid – Prepaid usually are paid in advance before one can use it, for example pre-paid insurance.
  4. Inventory – Inventory is when business buy stuff, put price tags on it and invite customer to buy it. Inventory is like store where customers are invited to buy items. Supplies are used inside the business for internal use only and inventory has fresh tag on it and the customers by the inventory.
  5. Accounts receivable – It is when other people owe you money.
  6. Land, building, Autos, Equipment – These are long-lived assets but these are still assets as they have future potential value.
  7. Intangibles – Trademarks are intangibles assets; we can’t touch it but it has probable future economical benefits.

SapphireOne's Asset Inquiry

Sapphire single user and SapphireOne client server asset inquiry and management functionality makes managing assets a breeze. In SapphireOne it is easy to manage assets owned by a company or by an individual.  SapphireOne ensures you to keep track of the depreciation that occurs on those assets . To know more , Check SapphireOne’s Asset inquiry module.

SapphireOne #AccountingSoftware Structure.

A post shared by SapphireOne (@sapphireone.erp) on Feb 15, 2017 at 10:22pm PST

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