How to track fixed assets the easy way with nettTracker

nettTracker first arrived onto our app radar when Pure Bookkeeping licensee and Birch Accounting & Tax Services owner, Amanda Birch told us about it.

So, what is nettTracker?

It is a fully automated fixed asset manager designed for Accountants and Bookkeepers using QuickBooks Online, Xero, and Sage Cloud Accounting. It removes the need to update a spreadsheet and to create any of the manual journal entries involved with the handling of fixed assets.

Birch's rave reviews inspired Successful Bookkeeper podcast host, Michael Palmer to interview nettTracker Director, Ash Beetson and Birch during a webinar where Beetson revealed how nettTracker would benefit The Successful Bookkeeper community.

Here's the video.

A big thank you to Ash and Amanda for sharing their thoughts about nettTracker!

We appreciate their time and insight.

So, let's take a deeper look into nettTracker.

Why should bookkeeping business owners care about it?

A bookkeeper is often tasked with providing clients (business owners), with regular up-to-date financial reporting information.  A lot of time can be spent if the balance sheet review includes fixed assets and accounting for deprecation – all of which can be saved once nettTracker is in place.

By monitoring existing and new fixed assets purchases ‘Real-Time’, depreciation charges to the profit and loss will be consistent and appear every month removing the need for year-end adjustments.  Once nettTracker has been setup, it requires little intervention only requiring a review of assets at the end of the year.

How will nettTracker help you with your business?

nettTracker can help to add value to the services provided by a bookkeeper.  Putting the fixed asset register in place that can be accessed by the bookkeeper/accountant (and members of their team), and the client.

With nettTracker in place many ‘year-end’ tasks relating to fixed assets are eliminated completely.  The asset register is already up-to-date, deprecation calculated, and all journal entries have been made. 

Can I integrate nettTracker with Xero, Sage or QuickBooks Desktop? 

nettTracker integrates with QuickBooks Online, Xero, and Sage Cloud Accounting. There are no plans to integrate with QuickBooks desktop, however it can be used ‘stand-alone’ where fixed asset purchases can be added manually or imported using an Excel template.

Can I run a trial?

Yes. The standard trial period is for 10 days. it should not take much more than an hour for a first time user to fully set-up nettTracker and have all assets in place. The fixed assets movements for an entire year could be dealt with at the same time.

What help is available?

Support tickets can be raised from within nettTracker and response is within 24 hours. Often the same day but will depend on the time zone. PDF user guides and video tutorials can be accessed from the website and within the product.

Is there a limit on the amount of assets or users?

Currently there are no limits on the number of users or assets on each register.  The asset registers in nettTracker are designed to be simple and efficient.

I noticed the pricing is in GBP. Any plans to add USD or CAD pricing?

There are no immediate plans to charge in different currencies.  Our pricing is very low and exchange rate variances should have little impact.

Can I pay annually?

Yes. Options are available to modify the subscription which includes increasing/decreasing the number of asset registers required, and the ability to switch between monthly and annual billing.

How does depreciation work and will it comply with US GAAP?

nettTracker should comply with most requirements for US GAAP and International FRS.  Depreciation in nettTracker is primarily for ‘financial reporting’ as opposed to ‘tax reporting’, but it could be used for both. 

Ash was kind enough to let us know about a special offer exclusive to The Successful Bookkeeper community.

Here are the details.

  1. Sign up for the Standard Subscription
  2. Raise a support ticket and just type in "Successful Bookkeeper Offer"
  3. Two additional asset registers will be added for free.

To sign up for nettTracker, visit https://app.nett-tracker.com/signup and choose the option to 'join us'. 

Card payment details are not required in the first month of use.  

If you have any questions about nettTracker, you can either raise a support ticket within the app or e-mail support@farscape-applications.com.

There you go!

We hope you enjoyed that look into the world of nettTracker.

Stay tuned for future cloud app highlights here at The Successful Bookkeeper.com!

Technology

Michael Palmer

Article by Michael Palmer

Michael is the CEO of Pure Bookkeeping, the host of The Successful Bookkeeper podcast and an acclaimed business coach who has helped hundreds of bookkeepers across the world push through their fears and exponentially grow their businesses and achieve the quality of life they've always wanted.