All of an asset’s books are presented side-by-side within a subwindow of information screens, with tabs allowing users to move to data entry for period information, user-defined data, transactional histories, investment tax credits and UOP. Users can also add attachments, such as invoices or spreadsheets, photographs and notes to asset files. Red Moon Solutions also offers an outsourcing program for advanced like-kind exchange matching, enabling businesses to better strategize tax-deferrable gains. Depreciation can be projected yearly up to 60 years or monthly for the current or next year.
The reporting functions in FAM are available through an Explorer-style selection list accessed through the File > Print menu, and include more than 40 pre-defined Crystal Reports that can be customized as needed. These reports are organized into categories for accounting, asset information, compliance export, database, depreciation, Excel-formatted reports, tax-related reports, transactions and Canadian compliance. Users can create report sets for departments or other groups. The system can also produce fileable Forms 4562, 4684, 4797 and 6252. In addition to Excel, reports can be saved to various formats, including PDF.
The FAM system offers direct integration with the Domestic corporate income tax system from Vertex, as well as the ability to integrate with several financial platforms and ERPs. Integration is also possible with other tax compliance packages. Additionally, there is a specific version of FAM for SAP Business One. Financial period data can be exported into Excel, CSV and text formats for import into most accounting programs. Users can import asset data, including additions, dispositions, transfers, asset updates and user-defined fields, and the system provides an import diagnostic tool.
The assistive features in FAM are primarily centered on the Help utility, which provides traditional index-based reference functions. The company’s support website provides a knowledge base, FAQs, secure file-sharing functions, whitepapers and links to tax and accounting resources. The installed version of the program supports all modern versions of Windows, while the hosted version can be used on all major browsers. Technical support and system updates are included with program pricing. Red Moon also has a blog, Intaxication: Tax Buzz With a Twist, accessed via the vendor’s website, where weekly posts provide helpful tax, technology and business information.
SUMMARY & PRICING
Red Moon’s Fixed Assets Manager provides a user-friendly asset management system geared primarily for direct use by corporations and other entities, providing excellent support for organizations with multiple locations, departments and other subsidiary units. The system includes fileable compliance forms, along with options for Canadian accounting and compliance. Pricing for FAM starts at $1,000 for a single-user version that supports up to 1,500 active assets with versions available to meet any organization’s needs.
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