Many companies have achieved success through the implementation of an Enterprise Resource Planning (ERP) system to facilitate operational coordination across functional departments. However, the ERP system may not be the answer for every situation a firm's accounting department may encounter. This article outlines the pros and cons of utilizing the corporate financial accounting system (ERP/GL) for fixed assets management and tax depreciation, and reviews an alternative strategy. The pitfalls and lessons learned come from decades of successful engagements involving consultations and integration of GAAP, tax depreciation, and fixed assets management solutions in organizations ranging from SMBs to the Fortune 100.
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