why organization need top save digital assets

Like all valuable things owned by your business, digital assets are of great benefit to your business. 

  • You can claim expenses related to purchase and use of assets on your business tax return. The cost of short-term assets (supplies, for example) can be taken as an expense immediately, while the cost of long-term assets (those lasting at least a year) can be expensed over time (either through depreciation or amortization). 
  • You can sell many of these assets or license them while you still own them. 
  • Assets are valuable to investors or someone buying your business. The amount someone might pay to buy your business depends in great part on the value of the business assets. 
  • Some digital assets, like lists of customers or lists of newsletter subscribers, are particularly useful in establishing goodwill. The value of goodwill from an accounting and valuation perspective is based on these lists. 
  • Protecting accounting and employee records online means they are available for audits. Not having accounting records means you may not be able to prove expense deductions. Not having employee records may mean you are at risk for fines and penalties.

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