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March 8, 2005 – ASHLAND, VA – James River
Equipment of Ashland, VA, one of the country's largest John Deere heavy equipment
dealers, has engaged Accruit, LLC (www.accruit.com)
of Denver to implement and manage an innovative repetitive like-kind
exchange program to reduce their tax bill on the replacement of rental fleet
assets while drastically improving cash flow.
"We are thrilled to have Accruit as our partner for our like-kind exchange
program" said Mark Romer, President of James River Equipment. "Accruit's
reputation among heavy equipment dealers and the strong endorsement from the
AED (Associated Equipment Distributors) clearly sets them apart."
Accruit is the only fully integrated, web-enabled qualified intermediary providing
full like-kind exchange management services. Craig McSavaney, Accruit's CEO,
explained that the company's flagship software application, the Accruit Exchange
Manager™, fully automates the like-kind exchange process – from transaction
and cash management to complete asset and tax depreciation tracking. Through
its dedicated Client Service team, Accruit minimizes the back office burden on
its clients and ensures that they realize the maximum possible cash flow benefit
from their like-kind exchange program.
"At the end of the day, we needed an LKE management service, not just software" adds
Bertsch Cox, James River's CFO. "Accruit's passion for providing comprehensive
like-kind exchange services and their commitment to client satisfaction enables
us to easily capture significant cash flow and, at the
same time, stay focused on growing our business."
McSavaney said using the Accruit
Exchange Manager™, Accruit's clients realize a significant increase
in cash flow with dramatically less administrative burden than any other like-kind
exchange solution. James River Equipment joins Accruit's rapidly growing
list of John Deere and other heavy equipment dealers and leasing companies who
see the value in Accruit's unique fully integrated, full-service like-kind exchange
offering.
Accruit, LLC, headquartered in Denver, Colorado, is the only fullyintegrated,
web-enabled qualified intermediary providing full like-kind
exchange management services. The company's flagship software application,
the Accruit Exchange Manager™, fully automates the like-kind exchange process – from
transaction and cash management to complete asset and tax depreciation tracking.
Using the Accruit Exchange Manager™, Accruit's clients realize a significant
increase in cash flow with dramatically less administrative burden than any other
like-kind exchange solution. Accruit is the like-kind exchange Preferred Provider
for the Associated Equipment Distributors (AED).
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