Red Moon Solutions LLC — Fixed Assets Manager
From the December 2010 Review of Fixed Asset Management Systems
Red Moon Solutions offers several corporate tax and asset management applications, with the Fixed Assets Manager (FAM) system offering fixed asset tracking, depreciation, compliance, planning and reporting capabilities. The program can manage any number of individual or interrelated organizations, and supports all asset types and classes. It also provides comprehensive tools for calculating depreciation and is available as either a hosted solution or a traditionally installed on-premise product. Red Moon also offers programs for like-kind exchange matching, advanced analysis, tax calendaring, risk management and collaboration.
BASIC SYSTEM FUNCTIONS:
Fixed Assets Manager uses a multi-paned interface with multiple navigation options for accessing companies, assets, asset types, and the books and projections for each asset. The screens generally provide the look and feel of a Microsoft Office program, with quick access to calculation tools and system features available through the main icon menu, while an expandable menu on the left has links to entities, subunits and company information. Initial program setup and creation of company asset databases is guided by a collection of wizards and intuitive data-entry screens that include smart lists and calendars for selection of common data such as accounts, asset types and classes. Additional guidance is available during advanced program functions, particularly disposals, import and reporting processes.
The system is designed for use by business entities that may also have needs for tracking and managing the assets of subsidiary elements or geographic locations, but the flexibility in the design also enables the program to be used to manage multiple unrelated organizations. The summary asset information screens offer a spreadsheet view and the ability to drill down to more detail on a specific asset or group, and users can make global changes across asset types and groups. These asset detail screens include a tabbed view for moving between data entry and a display of all of an asset’s books side-by-side, with calculations performed as data is entered or treatments are changed. Customization options allow for the creation of custom views, user-defined asset types and depreciation methods, reporting properties, the ability to add virtually any number of fields, and options for tailoring the navigation menus as needed. When implemented on a network, FAM can support any number of concurrent users for management of any number of entities with unlimited assets.
CORE ASSET MANAGEMENT FEATURES:
The FAM system comes with pre-configured books for Federal tax, AMT, ACE and Accounting, but users can create an unlimited number of custom books to support states, foreign locations or E&P calculations. The program includes support for bonus depreciation, mid-quarter calculations, Sec. 179 and 280F, plus depreciation that includes the ability to create custom treatments or standard methods that include MACRS, ACRS, straight-line, modified straight-line, declining balance, sum-of-the-years’-digits, amortization and zero depreciation. It includes more than a hundred asset types and classes, and offers compliance with GAAP, IFRS and FASB standards.
Wizards help users perform asset life events from acquisition to disposal, including bulk and full and partial dispositions, asset splits, unsplitting, and inter- and intra-company transfers and multi-destination transfers. Consolidations can be performed between both related and unrelated entities managed within the program. The system does not include barcode or other physical asset inventory utilities but Red Moon can work with other vendors to incorporate this information for assets.