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ProSeries Professional Fixed Asset Manager

From the Dec. 2008 Review of Fixed
Asset Systems

Intuit’s ProSeries Professional Fixed Asset Manager program is available
as either an add-on to the professional tax compliance system, or as a stand-alone
program, providing asset depreciation management across multiple books and with
support for standard depreciation and averaging treatments. The program can
support any number of clients and assets, with splits, transfers, group disposals
and other life events easily manageable, and with data transferable into the
tax system and a variety of customizable reporting options. Pro-Series Professional
Fixed Asset Manager costs $219 for a single-user license.

ProSeries Fixed Asset Manager guides users through most setup tasks, providing
occasional information screens that help explain certain fields and qualifications
for company settings, short years and asset types. The program opens into the
Client Base, an interface centered on the primary client list, which offers
various methods of sorting, filtering and searching, along with icons for general
system functions, including a calculator, Help and tools.

Selection of a client automatically opens the master asset list for that entity,
which also offers multiple options for sorting, viewing and searching, with
asset data displayed in a tabular format that shows such information as convention,
cost, depreciable basis, 179 and acquisition date. By default, the data shown
in this asset list view is based on the Federal book; however, tabs across the
bottom of the screen let the user quickly display other books, including AMT,
ACE, State and other. The window also offers tabs across the top for moving
directly to detailed asset information, disposal activities, projections, notes
and a calendar. Within individual asset files, the program displays all books
and details in a lower panel, with calculations automatically generated as data
is entered. An upper panel provides entry fields for assigning GL accounts,
groupings and other asset information. Customization features allow users to
define data fields or create custom data sets.

Fixed Asset Manager offers up to six books per asset, with support for unlimited
assets per company, which can be grouped into cost centers or divisions, by
location or IRC section, or via other custom settings. The program also provides
mass change options that enable users to make edits across all assets or sub-groups.
Fixed Asset Manager supports all standard depreciation methods, including ACRS,
MACRS, ADS, straight- and modified straight-line, declining balance and sum-of-the-years’
digits. All calculations are performed automatically.

With easy access to disposal functions, life events can be quickly managed
either on an individual basis or across groups. This includes regular and partial
disposals and splits. Likewise, the Projections tab on the main window offers
access to depreciation estimations throughout the life of an asset, for each
book, in a spreadsheet format. The program does not offer the ability to attach
images or documents to asset files.

Fixed Asset Manager integrates directly with the ProSeries tax system, with
data flow-ing between the systems, and enabling users to quickly import depreciation
data into client income tax returns. Used as a standalone system, Fixed Asset
Manager can export data into Excel, plain-text and Word formats, allowing for
import into other accounting and tax programs. Data can be imported from most
third-party asset management modules.

REPORTING – 4.5 Stars
Fixed Asset Manager’s reporting options provide ample selections of more
than 35 standard reports, including GL reconciliation, depreciation, disposals,
expenses, amortization schedules, gain/loss, AMT and personal property projections.
It also offers the ability to run Sec. 179 expense test and mid-quarter determinations
and calculations. The system provides a report wizard that allows customization
of re-ports. As previously noted, reports can be generated into Excel and Word
formats for additional customization. Facsimiles of tax forms 4562, 4626 and
4797 can be generated through the program.

HELP/SUPPORT – 4.5 Stars
Intuit’s ProSeries Professional Fixed Asset Manager includes several helpful
wizards during setup and asset life tasks, as well as right-click menus and
context-sensitive Help. The program’s customization options also aid in
familiarity, allowing users to set it up as they need it. Intuit’s ProSeries
support website features a user community, support topics, program updates,
FAQs and optional training. For users of the Pro-Series tax system, technical
support is included.