This will help you make informed decisions about the financial future of your business. If you were using a traditional method of accounting, you would have to scroll through pages of information only to get accounting data reports. You can now meet the demands of a fast-growing business by accessing real-time financial data when needed. …

Your accounting software stores your accumulated depreciation balance, carrying it until you sell or otherwise get rid of the asset. Each year, check to make sure the account balance accurately reflects the amount you’ve depreciated from your fixed assets. Straight line depreciation applies a uniform depreciation expense over an asset’s useful life. To calculate annual …