2012 Review of MoneySoft – Fixed Asset Pro v13

MoneySoft – Fixed Asset Pro v13
800-966-7797
www.moneysoft.com

From the Dec. 2012 review of fixed asset management systems.

Best Fit: Fixed Asset Pro is best suited to small and medium organizations with asset bases of any size or complexity. With multi-entity capabilities, it can also be used by firms managing the depreciation strategies for multiple clients.

Strengths

• Comprehensive data import and export capabilities
• Extensive and totally customizable reporting options
• Ability to manage any number of entities and assets
• Mass edit function for changes across multiple assets

Potential Limitations

• No RFID or barcode scanning for physical audits
• Limited consolidation functions
• No multi-part assets
• Mass acquisition/disposal only by import

The Fixed Asset Pro system from MoneySoft provides asset management, accounting, depreciation forecasting and reporting designed for businesses with moderate to complex asset bases and strategies. It can also be used by firms managing multiple such clients. The system can support organizations with departmentalized structures and multiple geographic locations, as well as other asset groupings, and enables the creation of up to six books per asset. Built-in formulas automatically calculate all traditional depreciation methods and strategies. The company also offers programs for business valuation, financial benchmarking and M&A preparation and analysis.

Basic System Functions: 4.75 Stars

During initial setup of company and asset information, the program offers simplified screens that help guide users through data entry tasks, including the creation of client defaults for depreciation. Data can also be imported from more than a dozen file types, which makes transfer from external systems fairly easy. Among recently added features are an asset copy feature that can speed creation of new similar items, as well as a mass edit function for making changes to groups of assets.

The program opens into an intuitive screen with pull-down menus for primary functions such as file, setup, calculation, reports, tools and help. Company selection screens are accessed from the file menu, and use a basic Windows Explorer file structure, which provides little search and filter options. However, the file menu offers a shortcut list of recently worked on client files.

When working in a client’s records, Fixed Asset Pro opens the master asset list for that client, displaying a spreadsheet view of basic information for each of the assets, including description, tax cost, service date, method, life, Sec. 179 expensing, class and other information. Users can customize the screen by moving columns and selecting information to be shown. Users can drill down to specific information by using various tabs, including the asset’s books, history and notes. An icon based menu at the top of the screen provides access to editing company or preparer information, calculations, the pick list, totals, summary reporting and the built-in report builder.

On asset detail screens, users can assign groups, tax class, personal property type, listed property, AMT and ACE type, disposal data and other treatment information. On the main work screen, the Multi-Book Asset Entry tab, users can see a side-by-side view of each of the asset’s books, with fields showing cost, method, life, business use, prior accumulation, basis, convention and Sec. 179. The program automatically performs calculations across related fields as information is entered. Fixed Asset Pro can be used to manage any number of businesses/organizations with any number of assets. The networked version can be used by any number of authorized staff, with password-level security on each client database.

Core Asset Management Features: 4 Stars