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Accounting & Audit

2017 Review of BNA Fixed Assets

BNA Fixed Assets is a good fit for accounting firms of any size. The product can also be utilized by larger businesses that wish to handle fixed asset and depreciation management in-house. BNA Fixed Assets is available as a desktop application ...


BNA Fixed Assets

From the 2017 review of asset management systems.

BNA Fixed Assets is a good fit for accounting firms of any size, from small and mid-sized entities, through major corporations in the Fortune 20. The system can be scaled to millions of asset records, but is still easy enough to use for smaller and mid-sized entities. BNA Fixed Assets is available as a web-based application, or as a CD-based program that can be used on stand-alone computers or installed in a network environment.

BNA easily handles an unlimited number of companies, with a new company wizard available that simplifies new company setup. A wizard is also available to assist users when adding a new asset. The product also contains a list of predefined asset types which users can utilize when adding a new asset. The asset types can also be customized to better suit user needs. A Copy function is also found in the product, which can be utilized when similar assets are being entered.

BNA Fixed Assets also offers an easily navigated user interface that utilizes tabs for quick access to product features. The product will automatically calculate GAAP, Federal Tax, AMT, ACE, and E & P. Users can also create up to 99 custom books if needed.    

The product offers 11 depreciation methods including ACRS, MACRS, ADS, Alternative ACRS, Declining Balance, MACRS Straight-Line, No Calculation, No Depreciation, Remaining Balance/Remaining Life, Straight-Line, and Sum-of-the-Years’ Digits. BNA Fixed Assets also offers 5 depreciation rates, 9 averaging conventions, and 20 property types.

BNA Fixed Assets is also great for those that need to track additional information about a particular asset; offering over 20 customizable fields that users can choose to utilize during the new asset setup process. In addition, there are over 40 user-defined fields available that can be used for more in-depth tracking of each asset entered in the system.

For those that need to track insurance or asset warranties, the optional Fixed Assets Inventory module is available, seamlessly integrating with the Fixed Assets module. Users can also link repair types with the appropriate asset to create a comprehensive repair report for each asset.

Asset disposals and transfers are also supported in BNA Fixed Assets, and users can also split assets as well as dispose of an entire book of assets when necessary. Assets can also be transferred between companies if needed.

The product offers more than 30 pre-defined asset and depreciation reports including Net Book Value report, Asset Balance Reconciliation, Asset Acquisition, Asset Disposition, Asset Exchange, Comprehensive Depreciation, Depreciation Expense, Calculation Revision Gain/Loss, and Depreciation Comparison, FASB 109 Tax Projection, Depreciation Projection, as well as various IRS forms including Forms 3468, 4255, 4562, 4626, 4797, 8824, and Schedule M-1/M-3 report (including supporting worksheets for the IRS forms). All reports are easily customized and saved for future access. Reports can be viewed on screen, exported to Microsoft Excel for further customization, or saved as an HTML or PDF. The optional BNA DataView for Excel allows users to quickly create custom reports that include both asset and book-level data.

BNA Fixed Assets includes an Import/Export feature that guides system users through data importing and exporting. In addition, the company is increasingly focused on automation of processes though the optional G/L Integrator, which offers integration with most ERP products, and builds on the system’s strong calculations, comprehensive functionality and add-on modules.

The BNA Fixed Asset Suite of applications offers BNA Fixed Asset users with a variety of add-on modules designed to increase product functionality. These modules include an Enterprise version of the application designed for larger corporations (including Fortune 20 companies), as well as the Asset Inventory module, Construction in Progress, Foreign Currency, and G/L Integrator, mentioned earlier.

BNA Fixed Assets offers users excellent functionality throughout the application. The product includes a variety of wizards that are designed to assist users in everything from initial product setup, to adding new assets. Wizards are also available to speed depreciation data entry, or to import data from other applications.

BNA offers product users toll free technical support during regular business hours, with support including in the price of the product. A knowledge base is available for users to access on the BNA website, which also offers access to product whitepapers, as well as webinars and training videos. Product training is also available; including both onsite and online training options available. Custom training options are also available at an additional cost.

BNA Fixed Assets is well-suited for both professional accounting firms as well as larger corporations looking to handle fixed asset and depreciation management in-house. The application can be used as a stand-alone solution, or paired with additional modules available in the BNA Fixed Assets Suite. Deployment options are flexible, with users able to choose from desktop, network, or SaaS deployment. Prices vary depending on the version purchased and the number of system users. BNA Fixed Assets for the Web starts at around $1,500, with add-on modules priced separately.

2017 Overall Rating: 5 Stars