Bassets Software – eDepreciation Fixed Assets System
eDepreciation from Bassets is well-suited for businesses of any size, though accounting professionals may find the product useful as well. eDepreciation is deployed as a desktop application and is available in four editions; Compact, WorkGroup, Standard, and Enterprise. Bassets also offers a cloud-based fixed asset application called Depre123, which is also reviewed in this issue.
eDepreciation supports multiple clients and unlimited databases. Bassets technical support team guides all new users through the initial system setup process, helping with data conversion and the setup of data entry screens. The system also utilizes data entry wizards to assist with the data entry process. The main user interface offers various getting started options, including the ability to enter new assets, set preferences, and import asset data from another system. Entering an asset is straight-forward, with users able to enter detailed information about each asset including location, division, department, P.O. number, serial number and warranty date. The system also offers up to 10 user-defined fields that can be utilized to track additional information. Users can also quickly view book information, details, activity, notes and upload images for each asset managed in the system. The activity screen displays any asset transfers, bonus depreciation and disposals.
eDepreciation handles four types of books; IRS, Book, State, and AMT. The product supports a variety of depreciation methods including MACRS, Alternative MACRS, Declining Balance Depreciation, Sum-of-the-Years Depreciation, Remaining Balance over Adjusted Life, and Straight-Line Depreciation. The product also handles other calculations including Section 179 Deduction, Adjustment to Basis, Luxury Auto and Truck Limitations, and others. Mentioned earlier, there are an additional 10 user-defined fields available for those that wish to track additional information for each asset. Users can view five years total; two years of historical data, the current year, and two years future data.
In addition to tracking assets, users can also track additional information on each asset including insurance, warranty, and repair data, with serial numbers and warranty dates also tracked in the asset entry screen. The product also offers easy asset transfer and disposal capability, and handles both partial and complete asset transfers and disposals.
eDepreciation more than 20 standard reports in four categories; Financial, Tax, Asset, and Other. Reports available include Depreciation Detail, Asset Disposition Gains/Losses, Five Year Projection, Depreciation Transfer, and Depreciation Roll Forward, Asset Acquisition, Fixed Asset Inventory, Transferred Asset Report, and Net Asset Value. Users can also print forms 4562 and 4797 if desired.
eDepreciation offers excellent import and export capability, with users able to import fixed assets data using a variety of file formats including Microsoft Excel, Fixed Length, and Common Delimited ASCII files. Exporting capability is excellent as well, with users able to export all eDepreciation reports to Microsoft Excel for further customization. Reports can also be saved in a variety of file formats including Crystal Reports, Adobe PDF, Excel, Word and RTF.
eDepreciation also offers a variety of optional modules that are designed to integrate with the application including a GL Interface, AP Interface, State Tax Reporting, Construction in Progress, Barcode/Inventory Management, Expense/Cost Allocation, Foreign Currency, Units of Production, and Leased Assets.
Users can download a trial of eDepreciation directly from the website, later converting the downloaded program to a licensed product. A complete users guide is available directly from the application, and users can also access other resources such as case studies and white papers. An FAQ section is available as well. Mentioned earlier, initial system setup is provided by Bassets support personnel. eDepreciation also offers telephone support during regular business hours. An Annual Maintenance Agreement can also be purchased which includes unlimited telephone support, product fixes and an annual software update.
Well suited for small to mid-sized businesses, eDepreciation from Bassets offers easy product scalability, with the product available in four versions; Compact, WorkGroup, Standard, and Enterprise with a maximum of four users currently supported by the product.
Pricing for eDepreciation starts at $1,900 for less than 1,000 assets, with different pricing levels available based on number of assets. There are a host of optional modules also available from Bassets that are designed to integrate with the core application.
2018 Overall Rating – 4.75 Stars