Useful Apps to Make Your Life Easier – Asset.guru

19th June 2017

Asset Guru is currently the only available app I’ve found which offers a complete asset management system, including but not limited to – depreciation calculations, cloud connection, geospatial mapping and many reporting tools along with future projections of assets. Asset Guru is available to use in either Xero or QuickBooks.

 

Started in Australia, the website boasts large clientele such as – Helix, RK Motors, Agil one, Murphy Pipe & Civil and Old World. Although it hasn’t quite taken off in the UK yet, it does potentially have all the signs of a very popular product.

 

The Set Up

Asset Guru will set all your assets up for you on your behalf, I think this is a great start. This takes any pressure from the business owner and starts life with Asset Guru firmly on a forward step. Most businesses will have some kind of asset register or list and this can be used, or in the case of Whiting & Partner clients – we will already have a running asset register on your behalf which will be correct from the time of your last accounts.

 

The Process

Once set up is complete the process is simple. As new assets are added to the business, simply add them to Asset Guru. This can be in as much detail as you want, either at home from a PC or on the go with your mobile. The real beauty with this app is it will automatically post into Xero (sorry not QuickBooks at the moment) saving your time if you do your own bookkeeping or your accountants time – saving you money!

 

Who is it for?

This is ideally for businesses with a large amount of machinery or tools. Or any company looking to use the next cutting edge apps to run their business. After all, Xero does already offer an Asset section on its software; although it is far simpler than Asset Guru for most businesses it does everything that they need.

 

What Does It Cost?

Like nearly all the other apps there is a 30 day free trial. Now, I have to say I am very impressed that somebody from Australia took the time to call me and discuss Asset Guru with me. He answered all me question and had very good product knowledge. The only problem was he wouldn’t give me a price as all client needs are different and didn’t want to commit himself to a price. So if it is something you could be interested in then you would have to contact Asset Guru directly for a quote.

 

In Conclusion

For me, this blog was less about this specific product as personally it doesn’t apply to most businesses, but more about the fantastic idea and to show how quickly things are developing in the app/cloud accounting world, there is almost an app for everything!

 

If you are interested in any more information about this app or any other apps covered, please contact me with any questions or to arrange a demonstration of some of the great possibilities available to you with cloud based accountancy software.



 
Other items in Blogs
 
Matilda Mawson
19th July 2019 Changes to Entrepreneurs Relief from 6 April 2019

Entrepreneurs’ relief allows a reduced rate of capital gains tax on disposals of all or part of your business assets. The reduced tax rate is 10% on up to £10 million of lifetime gains. There have been a number of significant changes to entrepreneurs’ relief in the last year, tightening the rules on qualifying conditions…

Read More »

Ernesta Petkeviciute
19th July 2019 New SRA accounting rules – what’s changing?

The current Accounts Rules are made up of over 40 detailed requirements, making it difficult for firms to fully understand what is required of them, as well as giving firms no flexibility to adapt them to their own practices and decide how best to look after client’s money.   The new rules coming into effect…

Read More »

Vanessa Pearson
15th July 2019 IR35: private sector off-payroll rules for contractors

This week HMRC have published draft legislation that will affect private sector personal services companies (PSCs)  from 6 April 2020. PSC’s supplying services to medium or large-sized organisations will no longer decide if they are employed or self-employed, the end engager will assess this. If caught by these rules, known as IR35, employment taxes and…

Read More »

Paul Jefferson
15th July 2019 Company car tax changes – Government will remove BIK company car tax on Electric Vehicles from 2020/21

The government has provided positive news for Company car drivers announcing that a pure electric vehicle (EV) will no longer pay benefit-in-kind (BIK) tax in 2020/21 following a review which looks set to boost sales of emissions-free cars. HM Treasury’s response to its review of the fallout from the roll-out of the Worldwide Harmonised Light…

Read More »

Barbara Nicholas
9th July 2019 31 July: Can you elect to reduce your tax payment?

Most individuals who are required to prepare and submit a self-assessment tax return to HM Revenue & Customs in each tax year should now be preparing for their next half-yearly tax payment which is due by July 31.   This tax is the second payment-on-account for the 2018/19 tax year. It is automatically calculated as…

Read More »

Jaimie King
5th July 2019 Utilising the share premium account

For some privately owned companies, negative profit and loss reserves means that they are unable to pay out dividends as they do not have enough distributable reserves. However, they might have a significant share premium reserve, which is a non-distributable reserve. The Companies Act 2006 allows a private company to utilise the share premium account…

Read More »