Asset life event functions are generally easy to use, with special program areas that guide like-kind exchanges, partial and mass acquisitions and disposals, asset splits and unsplits, and transfers and sales. Consolidation capabilities are also available to merge the assets of multiple entities. Physical asset location tracking is aided by defined and customizable data fields, the ability to add pictures and digital documents, and asset custodian, but the program does not offer RFID or barcode scanning.
Reporting - 5 Stars
For day-to-day asset management, ProSystem fx Fixed Assets includes customizable calculation, projection, activity, status, asset and tax form reports which, along with additional options, are available from the main print menu. The system’s “next year” report provides expanded capabilities by using settings to adjust based on the reporting method. Prior-year reports can also be generated. Other reporting features include customization and editing tools, as well as the ability to save reports to Microsoft Word or Excel. The system can generate fileable versions of forms and worksheets, including Sec. 179, the ACE and 4562 worksheets, and accelerated depreciation.
Import/Export/Integration - 4.75 Stars
In addition to directly integrating with the other professional tax and accounting programs in the ProSystem fx Suite, the fixed asset system can import and export data from/to Excel, CSV and text files, which can be imported by most accounting, trial balance and tax compliance systems. In addition to Excel and Word, reports can also be saved to PDF formats.
Help/Support - 5 Stars
The program’s built-in assistive features start with friendly task wizards and extend to include field-specific Help and guidance, right-click menus and an indexed Help utility. The online support center includes user guides, FAQs, program tips, documentation, accounting-related news and training options, as well as access to an online user community. Program updates and live phone and online support are included with the program.
Summary & Pricing
ProSystem fx Fixed Assets is designed for professional accountants serving multiple clients and can be used as a stand-alone program or as a part of the larger ProSystem fx Suite. It provides comprehensive tools for asset depreciation and management for companies with asset bases of any size, with support for multi-divisional entities. Pricing starts at $2,100 for a single-user stand-alone or network license.