Fixed Assets Ledger Explained: Importance & Uses
A Fixed Assets Ledger is an essential financial record that helps businesses track and manage their long-term investments in physical assets. It includes key details like acquisition costs, depreciation schedules, maintenance expenses, and disposal records. This ledger plays a crucial role in financial management by ensuring accurate bookkeeping, regulatory compliance, and optimal asset utilization. A well-maintained Fixed Assets Ledger helps businesses avoid financial discrepancies, optimize depreciation calculations, and make informed asset-related decisions. Additionally, it assists in audits, enhances transparency, and improves overall financial planning, making it an indispensable tool for organizations of all sizes.