2017 Review of MoneySoft Fixed Asset Pro

Fixed Asset Pro

From the 2017 review of asset management systems.

Fixed Asset Pro from MoneySoft is designed for small to mid-sized businesses, though professional accountants may want to use the product as well. Fixed Asset Pro is a stand-alone product that supports an unlimited number of companies and assets. Fixed Asset Pro is designed to be installed on local computers, though data can be stored and shared on a network as well.

Entering asset data is completed in the Asset Info screen, with users able to assign each asset to a particular group, location, or department. Assets can be disposed of from this screen as well. The appropriate tax class for the asset and the option to use tax tables can also be entered in this screen. Function tabs are utilized well in the Asset Info screen, with users able to choose multi-book entry, and choose both AMT and ACE options if desired.

Users can maintain up to six different books simultaneously, including Tax, AMT, Financial, ACE, State, and a user defined book. Fixed Assets Pro includes 68 tax and accounting depreciation methods which include 36 MACRS methods which include bonus, Regular MACRS, Alternative MACRS, and Straight-Line MACRS; 24 ACRS methods including Alternative ACRS and Straight-Line ACRS, 6 Pre-1981 GAAP methods. Both amortization and manual depreciation ability is also included in the product.

User defined fields are available for each asset record, with users able to utilize user-defined fields for asset ID, group, and location. Additional custom fields have been added in the 2017 version of the product. The File Cabinet option allows users to each store photos for each asset. Warranty details, maintenance schedules, repair records and other documents such as original purchase orders or invoices can also be stored in the File Cabinet for future access.

Users can easily dispose of individual assets, exchange assets, and handle disposals. Newly added is a gain/loss option for asset disposals.

Fixed Asset Pro offers a good selection of both asset and depreciation reports, with users able to run a depreciation summary for each book. Asset Acquisitions, Annual purchases, Annual Disposals, Annual AMT, and Annual ACE reports are available as well. The product can also fill and print Form 4562 Report, as well as a Lifetime Projection Report. An Annual Year to Date Depreciation Expense Report is also available.

When printing a report, users can choose from the book they wish to print, as well as both prior and current year options. Users are also provided with over 15 sort options, and reports can be printed for a particular month as well. The addition of the Flex View option provides users with an enhanced view of all system data, where only relevant fields are displayed. Subtotals can be added where desired, and users can choose to sort the data as they see fit. Flex Views can also be saved to Excel and CSV to turn custom views into custom reports.

Fixed Asset Pro also contains a custom report builder that allows users to easily create custom reports. For additional customization capability, all reports can be exported to Microsoft Excel for further customization as needed.

The product also contains an Import and an Export Wizard that guides users through the steps necessary for importing data from common file formats including Excel, Word, XML, RTF, PDF, RTF, Dbase, QuattroPro, SQL and Access.

Fixed Asset Pro offers traditional help functionality in the product, and wizards to assist new users. Product support is available during regular business hours, with users able to contact support using the toll free number provided. Both email and chat support options are also available.

Ideal for small to mid-sized businesses, as well as professional accountants, Fixed Asset Pro from Moneysoft is available for $499.00 for a single user system. Users can also choose to purchase a site license for $599.00. For a limited time, new users will also be given free access to the Quick Start Training option, which normally runs $195.00. Annual updates for Fixed Asset Pro run $199.00 for a single user and $299.00 for a site license. Users can go to the Moneysoft website to download a full version of the product.

2017 Rating – 4 Stars