An accurate fixed asset inventory and reconciliation can help identify common issues many companies face: ghost assets, partial retirements, assets eligible for exemption, assets eligible for beneficial classification, and embedded non-taxable costs. For these companies, we conduct line-by-line reviews of both owned and leased assets, and reconcile the assets on the floor to those on the balance sheet.

Physical asset tagging helps companies gain and maintain control of their assets while increasing accuracy for financial accounting and personal property tax reporting purposes. Tagging also provides an effective way to meet the strict internal control requirements related to Sarbanes-Oxley or other external reporting requirements. We work with companies to tag and document asset-specific information in an easily accessible electronic format.

Managing our assets is a challenge due to the nature of our business. We have several facilities and fluctuations in personnel. Since we have been working with DPS and their fixed asset tagging services, we have not only gained a clearer and more accurate picture of our assets, but have also realized a major benefit in property tax reductions due to weeding out assets that are no longer used or nonexistent. The team at DPS is also down to earth and easy to work with. They make everyone feel comfortable, from the people on the plant floor to the controller’s office.

David Ewing, Tax Manager, DENSO International America, Inc.