2011 Review of Wasp Barcode Technologies – MobileAsset

Wasp Barcode Technologies - MobileAsset
214-547-4100

www.waspbarcode.com 

 

Best Fit:
Businesses needing to track mobile assets, such as tools, equipment and vehicles, including scheduling and check-in/out features.

Strengths:

  • Excellent location tracking capabilities
  • Built-in barcode scanning support
  • Intuitive interface

Potential Limitations:

  • Limited to a single book per asset
  • No compliance reporting for FASB 109, Sec. 179, IRS
  • Limited asset type, class, depreciation methods


From the December 2011 Review of Fixed Asset Management Programs

MobileAsset is designed primarily for direct business use, but can also be used by accounting professionals serving multiple clients, with three versions of the system providing various levels of asset location tracking functions along with depreciation, forecasting and asset accounting capabilities. The Enterprise version, which is the most comprehensive, is reviewed here. Wasp Barcode also offers a broad product line that includes inventory management, point-of-sale, time and attendance monitoring, and barcode technologies and supplies.

Basic System Functions - 4.25 Stars
MobileAsset offers an exceptionally user-friendly interface, with guides and wizards helping users create companies and import or add new assets. It offers options for creating templates or copying entities or assets, as well as tools for mass acquisitions and disposals. The system opens into a home screen that offers icons for the primary system areas, including asset management functions, administration, reports, a list of forms, label options, and mobile tools and utilities. Upon selection of one of these, a submenu of icons appears with access to specific tasks, such as disposals, checking assets in or out, calculating depreciation and other activities.

Asset selection screens are spreadsheet-based, displaying summary information for descriptions, types, location, date acquired and asset tag ID, with an icon menu across the top of the screen for creating new items, disposing, duplicating, maintenance, and grouping functions, as well as assigning assets to individuals and tracking responsibility and asset return dates.

Asset detail screens include extensive information fields and the ability to customize up to 20, with tabs for accessing depreciation, asset linking, transaction histories, images, documentation and custom fields. Asset information can be changed individually, by group or globally.

As the program’s name would imply, MobileAsset is very focused on managing assets that are mobile and may be checked out for defined periods of time, such as vehicles, computers, tools and other equipment. Additional customization features include the ability to create alerts based on asset events such as overdue asset returns and maintenance needs. Security functions can be set to task-specific levels, enabling greater access for some users than others. The Enterprise version of the program can be used to manage multiple clients with any number of assets, with support for multiple concurrent users when networked.

Core Asset Management Features - 3.75 Stars
As previously noted, MobileAsset is exceptionally strong at asset tracking and management, with built-in barcode capabilities, check-in/check-out features that can be used for employees or customers (such as those at equipment rental businesses), and extensive location details. It even allows tracking and scheduling of other non-traditional assets, such as conference rooms and other resources.

The system’s asset depreciation and accounting management capabilities are geared primarily toward less complex asset bases, with only one book (tax) per asset and depreciation methods that include straight-line, double declining, 150% declining, custom declining balance and sum-of-the-years’ digits. Likewise, it supports only basic property class settings. For asset acquisitions and disposals, the program enables mass events, and can be used to manage assets in progress, those with multiple parts and parent-child relationships.

The program supports departmentalized asset management and can handle consolidations of the assets of multiple clients. MobileAsset’s strongest features are geared toward asset location tracking, with built-in barcode capabilities and extensive scheduling and asset maintenance management utilities. Images, warrantees and any other digital documents can be attached to asset records.

Reporting - 4 Stars
The reporting features in MobileAsset are grouped by activity categories including asset listings, types, book value, depreciation reports, audit reports, transactions, maintenance and check-outs. The more than 50 pre-built reports offer customization options and can be output to Word or CSV. When viewed on-screen, the reports feature complete drill-down functionality to live data. The system does not offer preparation of federal forms, such as FASB 109, Sec. 179 or IRS forms.

Import/Export & Integration - 4 Stars
MobileAsset integrates directly with several of the other programs from Wasp and can import and export data from/to CSV and text, easing use of the program with other tax and accounting applications. It offers remote access utilities designed for smartphones for performing asset audits, checking assets in and out, and working with client information.

Help/Support - 4.5 Stars
MobileAsset is exceptionally user-friendly, with intuitive navigation and language that trends more toward common business phrases than accounting jargon. In addition to a traditional Help index, it offers program tips and right-click menus, while online support options include a knowledgebase, downloadable updates, user documentation and tutorial videos. Live and web-based technical support is included with pricing for the program, which runs on any modern Windows platform.

Summary & Pricing
MobileAsset is focused primarily on asset usage, providing exceptional tracking, check-in/check-out, maintenance record keeping, scheduling and barcode asset audit functions. It is less comprehensive on depreciation management and forecasting for more complex strategies, and is therefore best suited to managing the assets of entities whose asset management needs are more focused on physical location tracking but with simple depreciation needs. The program starts at $599 for the single-business Standard version, and at $2,495 for the Enterprise version.

2011 Overall Rating 4

 

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