Depre 123 is a cloud-based app that is designed to run on Salesforce.com and can be used on any desktop or mobile device. Depre 123 is Bassets eDepreciations’s cloud-based asset management solution.
Depre 123 is well suited for businesses of any size that wish to manage their assets and depreciation on a mobile platform and is best suited for businesses or accounting professionals that are currently using Salesforce.
Depre 123 allows users to easily manage multiple clients, setting up each client as a separate account in Salesforce. Users can utilize the Asset Import Manager option in Depre 123 to import fixed asset information from spreadsheet software or another application. Users simply choose the client, the import type and then launch the Salesforce Import Wizard. Users will need to ensure that four dedicated columns are included in the import in order to map the import correctly. The columns are Asset Name, Asset Cost, Asset Class, and Service Date. The product also contains a utility that allows users to create a spreadsheet template using a CSV format.
Dupre 123 contains a list of more than 100 pre-defined asset classes that set bonus depreciation, property type, depreciation method, first year convention and recovery periods. Users can also choose to associate asset classes with GL accounts if desired, with the option to create their own asset classes if necessary. In addition, Depre 123 offers up to 500 custom fields that can be used when entering a new asset. For those managing multiple clients, all fixed assets can be managed by account.
Depre 123 offers four books, called schedules, for depreciation tracking, including Federal Tax, Internal Book, Alternative Minimum Tax and State. Users can also calculate depreciation based on the date the asset was purchased, with monthly depreciation calculated as well. Depreciation is automatically calculated for each asset entered based on the cost, date of purchase and asset class chosen during the initial asset entry process. The product also handles disposals, with users entering the disposal date of the asset by accessing the asset filters, which are attached to the main asset record.
Standard reports in Depre 123 are limited to Acquisitions, Asset Listing, Depreciation Detail, Dispositions, Roll Forward, Twelve Month Projection, and Five-Year Projection. Users also have the option of building custom reports in Salesforce or exporting data from Depre 123 into Microsoft Excel for report creation and customization.
Depre 123 offers some resources for new users including a complete user guide as well as getting started guides, though the guides assume that users are familiar with Salesforce, which is really a necessity for getting the most use out of the application. For those already using Salesforce, Depre 123 could be a good solution for managing fixed assets and depreciation. Depre 123 currently runs $95.00 per user per month.
2018 Overall Rating – 4.25 Stars