2012 Review of CCH ProSystem fx Fixed Assets
The program offers several tools for managing asset life events, with special functions that can help guide users through necessary functions for performing like-kind exchanges, partial and mass-acquisitions and disposals, asset splits and unsplits, and transfers and sales. It offers consolidation capabilities for merging the assets of multiple entities.
The system does not offer RFID or barcode scanning capabilities for automating location verification, but it does provide defined and customizable data fields and specific asset custodians for items. Newly added is a feature that allows the transfer of assets between entities, as long as the tax period defined for the current year match.
Reporting: 5 Stars
Day-to-day asset management functions enable users to set up customizable calculations, projections, activities, statuses, and asset and tax form reports, all of which, along with additional options, can be accessed via the main print menu. The “next year” report offers expanded options by using settings to adjust based on the reporting method. Prior year reports can also be generated. All reports include customization and editing tools, plus the ability to save reports in Microsoft Word or Excel formats. The program can be used to produce fileable versions of forms and worksheets, including Sec. 179, the ACE and 4562 worksheets and accelerated depreciation.
Import/Export/Integration: 4.75 Stars
Several integration options have already been mentioned, including export to Word, Excel or PDF, import from spreadsheets, CSV and text files, and direct integration with 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.
Help/Support: 4.75 Stars
Users have access to numerous built-in help features, including task wizards, field-specific help and guidance, right-click menus and a traditional help utility. Online support center options include user guides, FAQs, program tips, documentation, accounting-related news and training options, plus access to an online user community. All program updates and live phone and online support are included with program pricing.
Summary & Pricing
ProSystem fx Fixed Assets is designed for accounting and tax firms with multiple clients, providing extensive depreciation and management functions for asset bases of any size, including multiple locations. The system can be used either independently or as a part of the ProSystem fx Suite. Pricing starts at $2,225 for a single-user standalone or network license.
