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Red Moon Solutions — Fixed Assets Manager

From the Dec. 2007 Review of
Fixed Asset Systems

The Fixed Assets Manager (FAM) system from Red Moon Solutions (initially developed,
used and offered by Arthur Andersen) is a high-end asset depreciation and management
system designed for use by professional accountants who service midsize to large
entities with complex asset bases that may be spread across multiple divisions,
cost centers and other tracking areas. The program provides comprehensive support
for tracking assets across multiple books and handles all traditional depreciation
treatments and methods. In addition, it maintains high speed even through high
volumes of assets and provides strong customization options and other flexibility.
Pricing for Red Moon’s FAM starts at $1,000 for a stand-alone implementation.
The system can be deployed across networks, and the vendor also offers a remotely
hosted version of the product. Red Moon also offers a version of FAM specifically
designed for integration into the SAP Business One system.

Navigation/Ease-of-Use – 4.5 Stars
Initial installation of Red Moon’s FAM is simple and quick, and the program
uses wizards and templates to help guide the user through initial company and
asset tasks. Assets can also be easily duplicated when entering many similar
items. Entry and editing of detailed asset information and the assigning of
classes and setting of treatments is performed on well-designed screens within
the primary interface.

The program provides a modern interface with a master window divided into
the work area and a menu panel that provides expandable Explorer-style navigation
folders. Additionally, primary system functions can be accessed from icon and
pull-down menus at the top of the screen, while forward and back navigation
buttons are also available when working within client asset files. The system’s
spreadsheet-style asset list offers options for sorting, filtering and searching
and displays basic asset data, while a pane at the bottom of the screen displays
assets resulting from searches.

Individual asset screens allow simple selection of depreciation methods and
treatments and allow users to track items by location, type and description,
with the ability to add images to asset records. All calculations are automatically
performed in real time as users change classification, life span or other asset
characteristics, and users can view multiple books for assets simultaneously.
Users can customize data fields for tracking special data.

Management Features – 5 Stars
The basic version of Fixed Assets Manager can support up 30,000 individual assets
for an unlimited number of client companies and entities, and it supports an
unlimited number of standard and customized books per asset. The program automatically
includes the four books for Federal tax, AMT, ACE and Accounting with the ability
to add custom books for states or foreign entities. All of these books are viewable
at one time on a single screen, and all calculations and reports are GAAP- and

Red Moon’s FAM includes built-in calculations for MACRS; ACRS; Sum-of-the-Years’
Digits; Passenger Automobiles, Trucks, SUVs, Vans and Other Listed Property
subject to Code Sec. 280F limitations; Amortization; Straight-Line; Units of
Production; Declining Balance; Section 179; and Indian Reservation Property.
It also supports Indian Reservation. Users can calculate for short and partial
years, and FAM handles mid-quarter conventions, recaptures and negative depreciation
calculations. Users may also define their own custom depreciation calculations.
It also maintains full histories and provides the ability to forecast yearly
depreciation for up to 60 years out and monthly depreciation for 12 months.
The program can handle virtually any disposition or asset life event, including
mass and partial disposals, inter- and intra-entity transfers, splitting, unsplitting.
Security features are available, and the system includes an audit trail that
maintains a record of all changes over an asset’s life. Mass updates can
also be easily applied.

Red Moon’s FAM is one of the few asset management systems that is also
available as a hosted service, which can result in a faster system since the
heavy lifting and database-driven components are on the vendor’s computing
systems and accessed online from anywhere. The program is also automatically
updated by the vendor, reducing IT maintenance requirements. Red Moon noted
that support for Canadian tax will be available in 2008.

Integration – 4 Stars
The program provides a utility for exporting GL transactional data, and users
can import asset data into the system from most common formats, including Excel,
Access, spreadsheets and text. The system is scheduled to integrate with the
Vertex Domestic Compliance tax system for the upcoming tax year (first release
February 2008), and also offers integration with accounting and ERP systems.

Reporting – 5 Stars
Among its standard reports, FAM offers traditional reports for depreciation
by summary and detail, acquisitions and disposals, adjusted basis, reconciliation,
group/departmental lists, consolidated reports, and forecasts, all of which
can be customized to the needs of the client. The program also enables the creation
of custom reports and can print fileable versions of IRS Forms 4684, 4562, 4797
and 6252. Red Moon also offers an OLAP tool as an add-on module to Fixed Assets
Manager for ad-hoc reporting, analysis and modeling.

Help/Support – 4.5 Stars
The program includes a traditional Help menu and right-click menus, while online
support options provide tutorials, FAQs, access to FTP file transfer support
functions and external web resources. The company offers conversion and implementation
services, and technical support is included with program pricing and annual
updates. The company noted that all technical support calls are answered live,
by senior tax/technical support representatives with a minimum of seven years
experience with tax depreciation and the FAM software.

Red Moon’s Fixed Assets Manager is powerful and handles all aspects of
asset depreciation, from selection of appropriate strategies to year-end reporting.
The system is geared toward larger entities and is in-use by the Big 4 and by
many Fortune 500 companies. But it is also scalable to smaller entities with
somewhat complex fixed asset management needs, especially those with multiple
divisions or geographic locations. The hosted version of the program is also
a great option.

2007 Overall Rating: 4.5 Stars