Pro-Ware – Asset Keeper


Pro-Ware – Asset Keeper

From the December 2010 Review of Fixed Asset Management Systems

 Designed for public accountants managing the assets for multiple organizations and individuals, Asset Keeper provides flexible and customizable functions for depreciation management, asset location tracking and asset-life events. The system offers global edits and mass action functions, and supports all traditional depreciation treatments and conventions. Pro-Ware also offers professional programs for trial balance, amortization, advanced business ratios, client contact management and a 10-key calculator application.

Asset Keeper can be used to manage an unlimited number of organizations with any number of assets spread across departments, cost centers, geographic locations or other business units. The program provides step-by-step guided assistance during initial and client setup tasks, with intuitive data-entry screens and wizards simplifying these processes. The company selection screen uses a spreadsheet view that shows sortable information including type of entity, total asset number, tax ID, file location and other information, with search and filter options and the ability to change or move data folders.

The primary work screen defaults to the File Listing page for the last company worked on, with the screen offering summary data on the books and calculations being used, along with links that give quick access to standard reports. The program offers icon and pull-down navigation menus across the top of the screen. Asset selection screens for each company open into a spreadsheet view similar to the client selection screens, with multiple information columns, and the ability to sort and filter along with extensive search capabilities that enable looking for items in specific departments, asset classes and treatments.

Detailed asset information screens offer tabbed views for moving between data entry for general, federal, AMT, ACE and general book, with the ability to track by customizable codes and user-defined fields. Pop-up lists are available for GL accounts, departments and other codes, and users can attach pictures and notes to asset records. Buttons at the bottom of asset screens allow users to scroll forward and back between assets, or to view groups, the asset listing or perform other functions. The program includes global change functions that let users apply edits across groups, departments or entire asset bases from one screen. Asset Keeper can be networked and accessed by any number of users within the same office.

The Asset Keeper system can be used to manage any number of assets, allowing users to create up to eight books per asset, including pre-configured schedules for federal tax, AMT, ACE and book, and four completely custom books, which can be used to project depreciation up to 99 years. The program automatically performs calculations as data or methods are edited, with instant checks for convention qualification. The program also has auto-assign features for AMT, ACE and Sec. 179, which has a wizard that takes expense deductions and adjusts current depreciation accordingly.

Asset Keeper can be used to apply all traditional conventions, including MACRS, ACRS, straight-line, sum-of-the-year’s digits, declining balance, zero and negative depreciation, and custom methods. Additional calculations include monthly depreciation, coming year annual and monthly, pro-rated depreciation, short years, and accumulated.

The system includes mass disposal functions and wizards for processing other life events, such as exchanges, splits, unsplits, partial disposals and disposals through sale, exchange or retirement. Consolidations can be performed across multiple companies, and can also be unmerged. For asset tracking functions Pro-Ware offers the AK-Track add-on, which provides inventory management, assignment, status and tracking notes.

Extensive reporting options are available from the system’s home screen and from the reports menu, providing summary and detail asset depreciation lists and comparisons, end-of-year summaries, acquisition and disposals, book and inventory reporting, asset valuations, asset summaries and projections, all of which can be customized or created from scratch using the built-in report writer. Users can produce forms in batch and create custom sets, and all reports can be e-mailed from within the program or output to XML, Word, PDF, HTML, RTF, ODT and text formats. Asset Keeper also offers generation of forms 4562, 4797, and reports for use in completing forms 4626 and 6251. M-1 reconciliation reports are also available, as are personal property reports for nearly 20 states.

Users can import asset data into Asset Keeper from Excel and various text files, and the system includes a built-in conversion tool pulling data from more than a dozen accounting and asset management programs. With the program’s extensive report and data output options, data can be exported then imported into most tax and financial applications.

Asset Keeper supports all modern Windows operating systems. The program provides a traditional indexed Help utility, and in-program FAQs, tutorial and PDF user guide. The Pro-Ware support website provides additional FAQs and dozens of task-specific tutorials, along with downloadable program updates, and links to professional and regulatory websites. Live technical support is included with program pricing.

Asset Keeper provides a comprehensive asset depreciation system that includes excellent cross-company consolidation, transfer and global/mass action capabilities for professionals who manage the assets bases for multiple companies, many of which may be interrelated. Pricing for Asset Keeper is $599 for a site license that allows any number of users.

2010 Overall Rating: