2017 Review of CCH ProSystem fx Fixed Assets, by Wolters Kluwer

CCH ProSystem fx Fixed Assets
Wolters Kluwer Tax & Accounting

From the 2017 review of asset management systems.

CCH ProSystem fx Fixed Assets from Wolters Kluwer Tax & Accounting, is designed for accounting firms that handle asset and depreciation management for a variety of clients; large and small.  Though best suited for accounting firms, CCH ProSystem fx Fixed Assets can also be used by larger businesses that wish to manage assets and depreciation in-house. 

The system can be used as a stand-alone product, though users will experience additional product functionality when it is paired with other CCH ProSystem fx applications. CCH ProSystem fx Fixed Assets also offers a variety of deployment options, including desktop, in-house network, or through a web browser.  The product easily handles an unlimited number of both companies and assets. 

CCH ProSystem fx Fixed Assets offers users an intuitive user interface and makes good use of related tabs, which users can easily access from the interface.  The main interface screen also offers a fully customizable tool bar that users can populate with frequently used functions.  The product offers users a pre-defined list of assets that users can choose from when entering a new asset, or can be customized to better suit company needs. 

CCH ProSystem fx Fixed Assets easily handles an unlimited number of assets for each client that is managed.  Users can create up to five different books when setting up a new asset, including Federal, Financial, AMIT, ACE, and State.  Three user-defined books can also be created and displayed side by side for comparative purposes.

Multiple depreciation methods can be maintained simultaneously, with the product supporting MACRS, Sum-of-the-Years Digits, ACRS, Amortization, Straight Line, Listed Auto, Declining Balance, Section 179, Units of Productions, and Leasehold Improvements.  The product also allows users to enter and manage user-defined asset details to all standard assets that are entered.

The product handles asset exchanges, as well as partial dispositions, and users can easily dispose of partial assets or group multiple assets into a single unit for easier disposal.  CCH ProSystem fx Fixed Assets automatically computes gains and losses on all assets disposals. 

CCH ProSystem fx Fixed Assets offers a solid selection of reports, including ACE Worksheet, AMT Report, Asset Information, Asset Notes, Depreciation Expense, Depreciation Variance, Disposition Report, Exchange Detail, Multi-Period Projection, Multiple Book Projections, Net Book Value, Section 179, Section 168, and two depreciation forms including Form 4562 and Form 4797.  Prior year reporting options are also available in the product, and users can easily customize any system reporting to reflect the appropriate reporting period.  Various filters are also available for users to choose from, and even headers and footers can be customized if desired.  All reports are easily viewed on screen, printed, exported to CCH ProSystem fx Engagement, exported to Microsoft Word or Excel, or saved as a PDF. 

CCH ProSystem fx Fixed Assets offers seamless integration with all CCH ProSystem fx Suite applications, which include Engagement, mentioned earlier, Document, and Tax  For those that choose to utilize the product as a stand-alone solution, data can be imported from a variety of third-party applications including Asset Keeper, BNA, Fixed Assets CS, and Sage Fixed Assets.  Users can also import data from other applications using a CSV file format or from Excel. 

CCH ProSystem fx Fixed Assets contains excellent help functionality throughout.  The support option, found on the Wolters Kluwer website, offers users access to the product Knowledge Base and well as a review guide that provides detail about all product functionality.  Product release notes, detailed instructions on how to install the program, and an option to download a trial version of the software are also available.  Users can contact support through the website as well.  Both telephone and online support is available for all CCH ProSystem fx Fixed Assets users, and the cost of support is included in the price the product. 

CCH ProSystem fx Fixed Assets is an excellent option for accounting firms handling asset and depreciation management for a variety of clients.  Best suited for firms already using other CCH ProSystem applications, the product can also be used as a stand-alone option if desired.  Product pricing for CCH ProSystem fx Fixed Assets starts at around $3,015 for a single user license, with more detailed pricing available from Wolters Kluwer.

2017 Overall Rating – 4.75 Stars