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Without regular asset tracking, your company can suffer financial losses. You could be charged with paying taxes, insurance, purchases, and maintaining assets that are unnecessary. You could end up paying taxes for assets that already have depreciated or (or the ones you no longer have). You could also be overwhelmed when your assets are inadequate to meet the demands of your customers or clients. Therefore, it is very important to keep track of the amount of assets you actually have as well as the amount of assets recorded in your books.
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