CPA Practice Advisor - 25

FIXED ASSETS: REVIEW
Bloomberg Tax & Accounting
Fixed Assets	
https://pro.bloombergtax.com/fixed-assets
Bloomberg Tax & Accounting Fixed Assets is a good
fit for both corporate tax departments as well as
professional accounting firms. The system is accessible via the cloud, it supports an unlimited number
of companies, departments, divisions, and locations,
and it supports an unlimited number of assets as well.
The software allows users to access Bloomberg Tax
& Accounting applications using a single login and
is compatible with Single-Sign On (SSO) technology.
Bloomberg Tax & Accounting Fixed Assets uses
wizards throughout the application to simplify the
entire asset entry process. For accounting firms
handling multiple clients, there is a company setup
wizard available in the application as well.

CCH ProSystem fx Fixed Assets	
The CCH ProSystem fx Fixed Assets solution is best
suited for accounting firms that manage a large number of fixed assets for their clients. CCH ProSystem fx
Fixed Assets supports an unlimited number of assets
for each client as well as an unlimited number of
companies for all business entity types. The application can be installed on a desktop or network system
or accessed using a web browser. CCH ProSystem fx
Fixed Assets can be used as a stand-alone fixed assets
management application or in conjunction with other
CCH applications.
Entering a new asset in CCH ProSystem fx Fixed
Assets is designed to be simple with all asset data
entered on a single screen. Users can use the pre-

The application requires little in the way of
setup, offering out-of-the-box compliance in all the
necessary areas, including built-in tax code federal
tax regulations, GAAP rules, and state depreciation for
California, Florida, Illinois, Minnesota, North Carolina,
New York, and Pennsylvania. Bloomberg Tax &
Accounting Fixed Assets also includes predefined asset
types that fit the most common categories, with users
able to create their own asset type if necessary. Each
new asset entered into the application is assigned by
the application or user a unique identifying number,
with users able to attach additional documentation
to the asset file including a photo, invoice, warranty,
or maintenance record.

https://taxna.wolterskluwer.com/
defined list of asset types when adding a new asset,
with depreciation detail entered in the lower portion
of the Detail tab.
Asset data can also be imported from other
applications using Microsoft Excel, and users can
transfer assets from other third-party applications
using the data conversion option. The main asset
entry screen is easily navigated, and users can view a
complete list of assets along with detailed information
on each asset by clicking on the appropriate tabs.
The user interface, including the toolbar, are easily
customizable and each user is able to customize the
interface individually.
While CCH ProSystem fx Fixed Assets can be used

Intuit ProSeries Fixed Asset Manager	
ProSeries Fixed Asset Manager from Intuit offers
unlimited asset tracking and automatic depreciation
calculation. Best suited for accounting firms that
manage assets and prepare depreciation schedules for
clients, Fixed Asset Manager is available as an add-on
module for ProSeries Tax, and the application can be
used as a stand-alone asset management application
as well.
Users can easily customize the ProSeries Fixed
Asset Manager interface to remove any unused or
unnecessary system options. The application allows
users to easily manage each client, with both a
summary view and a detailed view of each client
available upon login. Users can click on a client name

www.intuit.com

to display a current list of all assets being managed for
that client, including details such as Date Acquired,
Asset Description, Cost, Depreciation Basis and other
user-defined details.
Users can opt to enter asset and depreciation
manually or import data from a third-party application
if desired. ProSeries easily handles multiple companies
and an unlimited number of assets for each company.
Adding a new asset is easy, with the application
automatically assigning a number to each asset for
easier future tracking. There is also an option to add
a custom number if desired. A description field is
available and users can add a P.O. number as well as
warranty details for any asset purchased.

5

2020 OVERALL RATING
Read the full review for
this product online at:

www.CPAPracticeAdvisor.com/
21148109

Bloomberg Tax & Accounting Fixed Assets is
best suited for larger CPA firms and enterprise level
businesses that need to track a large number of assets
and depreciation schedules. Pricing Bloomberg Tax
& Accounting Fixed Assets varies based on modules
purchased. Those interested can request a demo or
custom pricing directly from the Bloomberg Tax &
Accounting website.

2020 OVERALL RATING

4.75

Read the full review for
this product online at:

www.CPAPracticeAdvisor.com/
21148115

as a stand-alone fixed asset application, it is best if
paired with other Wolters Kluwer CCH products.
Those interested in CCH ProSystem fx Fixed Assets
can download a fact sheet or case study or request a
demo directly from the website. Pricing is available
directly from Wolters Kluwer upon request.

2020 OVERALL RATING

4.75

Read the full review for
this product online at:

www.CPAPracticeAdvisor.com/
21148119

ProSeries Fixed Asset Manager is currently priced
at $355, with users able to immediately download
the application from the ProSeries website after
purchasing. ProSeries is also offering a free demo for
those interested in trying out the application prior
to purchasing.

AUGUST 2020 ■

www.CPAPracticeAdvisor.com

25


https://pro.bloombergtax.com/fixed-assets http://www.CPAPracticeAdvisor.com/21148109 https://taxna.wolterskluwer.com/ http://www.CPAPracticeAdvisor.com/21148115 http://www.intuit.com http://www.CPAPracticeAdvisor.com/21148119 http://www.CPAPracticeAdvisor.com

CPA Practice Advisor

Table of Contents for the Digital Edition of CPA Practice Advisor

From the Editor: NASBA: Is it Time for a COVID-19 CPE Break?
Who Really Won the SCOTUS Ruling on Trump's Taxes?
From the Trenches: Do You Have a Clear Vision for Tax Document Automation?
Innovation Awards Announced
Multi-State Taxation: As States Look to Bounce Back, Tax Leaders Need to Engage with Lawmakers
2020 Product Review: Tax Document Automation
The Leadership Advisor: Communication Methods in Our New Work Environment
2020 Product Review: Fixed Asset Management
Health-Related Benefits Under the CARES Act
2020 Accountants Product & Service Guide
State Income Tax Complexity
What is a Series LLC and Why Your Clients Should Care
Apps We Love: At-Home Education Apps
The Millennial Advisor: Office Space: You're Not Home Alone
The ProAdvisor Spotlight: Streamlined Invoicing and Tasks Among New Features in QuickBooks Online Advanced
Marketing Your Firm: SEO Keyword Tips to Boost Your Firm's Google Ranking
Year in the Life of a Payroll Accountant: A Primer on IRS Continuous Wage Garnishments
The Labor Law Advisor: Age and Other Post-Pandemic Discrimination Claims
How to Modernize Your Firm
CARES Act Causing Business Valuation Concerns
How to Conduct a Business Insight Review
AICPA News
Bridging the Gap: Creating a Data Culture
CPA Practice Advisor - 1
CPA Practice Advisor - 2
CPA Practice Advisor - 3
CPA Practice Advisor - From the Editor: NASBA: Is it Time for a COVID-19 CPE Break?
CPA Practice Advisor - Who Really Won the SCOTUS Ruling on Trump's Taxes?
CPA Practice Advisor - From the Trenches: Do You Have a Clear Vision for Tax Document Automation?
CPA Practice Advisor - 7
CPA Practice Advisor - Innovation Awards Announced
CPA Practice Advisor - 9
CPA Practice Advisor - 10
CPA Practice Advisor - 11
CPA Practice Advisor - 12
CPA Practice Advisor - 13
CPA Practice Advisor - 14
CPA Practice Advisor - 15
CPA Practice Advisor - 16
CPA Practice Advisor - 17
CPA Practice Advisor - 18
CPA Practice Advisor - Multi-State Taxation: As States Look to Bounce Back, Tax Leaders Need to Engage with Lawmakers
CPA Practice Advisor - 2020 Product Review: Tax Document Automation
CPA Practice Advisor - 21
CPA Practice Advisor - 22
CPA Practice Advisor - The Leadership Advisor: Communication Methods in Our New Work Environment
CPA Practice Advisor - 2020 Product Review: Fixed Asset Management
CPA Practice Advisor - 25
CPA Practice Advisor - 26
CPA Practice Advisor - Health-Related Benefits Under the CARES Act
CPA Practice Advisor - 2020 Accountants Product & Service Guide
CPA Practice Advisor - 29
CPA Practice Advisor - State Income Tax Complexity
CPA Practice Advisor - What is a Series LLC and Why Your Clients Should Care
CPA Practice Advisor - Apps We Love: At-Home Education Apps
CPA Practice Advisor - The Millennial Advisor: Office Space: You're Not Home Alone
CPA Practice Advisor - The ProAdvisor Spotlight: Streamlined Invoicing and Tasks Among New Features in QuickBooks Online Advanced
CPA Practice Advisor - Marketing Your Firm: SEO Keyword Tips to Boost Your Firm's Google Ranking
CPA Practice Advisor - Year in the Life of a Payroll Accountant: A Primer on IRS Continuous Wage Garnishments
CPA Practice Advisor - 37
CPA Practice Advisor - The Labor Law Advisor: Age and Other Post-Pandemic Discrimination Claims
CPA Practice Advisor - How to Modernize Your Firm
CPA Practice Advisor - 40
CPA Practice Advisor - 41
CPA Practice Advisor - CARES Act Causing Business Valuation Concerns
CPA Practice Advisor - 43
CPA Practice Advisor - How to Conduct a Business Insight Review
CPA Practice Advisor - 45
CPA Practice Advisor - AICPA News
CPA Practice Advisor - Bridging the Gap: Creating a Data Culture
CPA Practice Advisor - 48
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