When it comes to investment reporting software, Mac users have a wide range of options. But unlike their Windows-using counterparts, they have to know where to look. Walk into an office supply store, and you will likely find only the Quicken product line by Intuit, which works for many people, but not everyone. Try several different investment reporting software options to see which ones works best for you.
Quicken has been the market leader in investment reporting software for many users on both Mac and Windows platforms, and it continues to be an excellent implementation of checkbook-style financial style management. However, many people have difficulty managing a checkbook or engaging in the double-entry bookkeeping a checkbook requires. Other investment reporting software may give you a way of viewing your money and expenses which is more natural for you.
Checkbook-style budgeting is the kind most people are taught, but it is not only the kind that can be used. Envelope budgeting, for example, involves setting aside money in accounts which you separately track from your real bank accounts. A savings account may contain $3,000, but envelope budgeting may allocate these funds as $1,000 in actual savings, $1,000 for a future housing improvement, and $1,000 set aside in a vacation fund. Third-party Mac investment reporting software applications from independent developers are taking a variety of approaches to financial management and budgeting to the user interface which will make managing your money either a pleasure or a chore.
Consider what you need from your investment reporting software package. If you want to manually track your expenses, so you are forced to categorize everything you spend, you may prefer a hand-held solution to a Mac solution, or maybe a hand held solution that can be synchronized with more powerful Mac investment reporting software. If you prefer an automated system, choose an investment reporting software that downloads your bank transactions, or pick a bank that seamless works with your favorite software.
Investment accounting is a method of separating money and other resources into categories based on the source of funds and any restrictions on the use of those funds. Organizations use investment accounting to track money related to a specific purpose or project. Each fund is an independent accounting entity, where accounts are maintained to ensure that the funds are used for their intended purposes.
Government and non-profit organizations usually receive money that they are required to use in a specific way. Investment accounting is intended to ensure that any limitations and restrictions placed on the use of these funds are observed. The focus of investment accounting is this context is on accountability instead of profitability.
Investment accounting on government funds use 3 basic groups of funds.
- Governmental funds. These generally account for the acquisition, use and balances of expendable financial resources and related liabilities. Examples include permanent funds, capital projects fund, debt service funds, special revenue funds, and general funds.
- Proprietary funds. Generally, self-supporting funds, these are used for activities that resemble private sector business activities. It comes in two types: enterprise finds (for activities charging funds) and internal service funds (which are used to account for the provision of goods or services by one department or agency to another.
- Fiduciary funds. These are used to account for assets that a government unit holds in a trustee capacity. The 4 types of fiduciary funds include pension trust funds, investment trust funds, private purpose funds and agency funds.
Although investment accounting is most common in non-profit and governmental organizations, for-profit businesses may sometimes use a version of investment accounting for a particular purpose. For instance, a retail store might wish to track individual departments or locations, or a contactor might want to track projects.
Long term, tangible assets that are used to sustain business operations and activities and have value are known as fixed assets. Examples include land, equipment and facilities. Fixed assets reflect the proposition of these kinds of assets; they are fixed and do not need much attention as soon as they are bought. Companies depend on their assets to produce revenue. Fixed asset analysis also includes working out the potential earnings as well as the use of the fixed assets. The analysis will also look into whether fixed assets are properly maintained to ensure present and future tense. So what asset management software is best for the fixed assets of your company? Read on and find out.
Licensed Software as Fixed Asset
Although getting a license to use asset management software is intangible, the capital expenditure on licensed software qualifies for capital allowances just like machinery. In this aspect, licensed software is considered to be a fixed asset. When licensed asset management software is obtained in a rental, the rentals are deducted from profits over the life of the software. Depreciation is a top concept when analyzing fixed assets and the examination of depreciation aids in illustrating the useful life of assets. Licensed software is depreciated over time; this is one main feature of fixed assets.
Written-Off Software as Fixed Asset
When a business acquires asset management software and they are not allowed to write off the overall expenditure in the year of purchase, the software is considered to be a fixed asset and written off the depreciation each year as an expense. In this case, whether asset management software is treated as a fixed asset will highly depend on the tax system.
Integral Software as Fixed Asset
Computer software for a machine that is aided by a computer that cannot operate without the particular asset management software is an integrated component of the relevant hardware. Because of this, it is treated as property, equipment and plant. The same is applicable to the operating system of the computer. Therefore integral asset management software is considered a fixed asset.