South African Company Law requires that businesses keep a register of their fixed assets as part of their accounting records. However, managing your company’s fixed assets can be tedious and time-consuming.
Fixed assets are physical items such as desks, computers, cars and machinery which you acquire to run your business. As you use assets, they depreciate or become obsolete. You can legally write off the depreciation on your assets as an expense to your business for tax purposes.
Let PRS Management CC accounting firm based in Roodepoort Gauteng assist you with the full maintenance of your fixed asset register.