CPA Practice Advisor - 26

REVIEW: FIXED ASSETS
MoneySoft Fixed Asset Pro
Fixed Asset Pro from MoneySoft is well-suited for
small to mid-sized businesses that require a solid
asset and depreciation management application.
Fixed Asset Pro's features include excellent importing
and exporting options as well as the ability to handle
an unlimited number of companies. Designed as a
stand-alone application, Fixed Asset Pro is deployed as
an onsite solution that should be installed on desktop
or network computers.
Along with an unlimited number of companies,
Fixed Asset Pro also supports an unlimited number
of assets, and users are able to easily import asset
data from third-party applications, with the help of
the included import wizard.

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Entering new assets is easy, as the main asset
entry screen is easily navigated. Tabs are available
to access other program options including the MultiBook Asset Entry option and the File Cabinet, where
information such as warranty and repair records and
maintenance schedules can be stored. When entered,
each asset is assigned a unique identifying number,
although users have the option to assign a custom
number as well. Each asset record in Fixed Asset Pro
can include a detailed description of the asset, the
date the asset was placed into service, the useful life
of the asset, the business and investment percentage
of the asset, along with later entries such as salvage
value of the asset, disposal date and price, and any

Pro-Ware Asset Keeper Pro
Pro-Ware Asset Keeper Pro from Pro-Ware LLC is a
good fit for businesses looking to automate fixed asset
and depreciation management. Introduced in 1985, the
entire application was thoroughly updated in 2013.
Built as a cross-platform application, Asset Keeper Pro
includes a site license for companies that purchase
the application, allowing it to be used on multiple
computers. In addition, the application supports an
unlimited number of both client files and assets,
making it a good fit for accounting firms that manage
fixed assets and depreciation for multiple clients.
Asset Keeper Pro is an on-premise application that
can be installed on desktop and network computers
using either Windows or Mac operating systems. Users

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can purchase and download the application directly
from the Pro-Ware website, or download the demo and
later upgrade to a full version if desired.
Although the Add/Edit Assets home page feels
slightly outdated, it's still easy to navigate, with
users able to enter a general description of each
asset including the date the asset was acquired.
Depreciation methods can then be added, and users
are able to add notes to any asset file as well as
attach a picture or other related documents such as
an invoice, warranty, or maintenance record. Users
can also track auto mileage, record the type of asset
being entered and add the location where the asset
is at. To speed up the asset entry process, users can

Thomson Reuters Fixed Assets CS http://CS.ThomsonReuters.com
Fixed Assets CS from Thomson Reuters is part of the
CS Professional Suite of applications from Thomson
Reuters. Best suited for accounting professionals and
enterprise level businesses with numerous fixed
assets to manage, Fixed Assets CS also includes
seamless integration with other CS Professional Suite
applications. Conveniently, the application uses the
same database as UltraTax CS for easy streamlining
of tax preparation and depreciation management. In
addition, Fixed Assets CS can be used as a stand-alone
fixed assets management application.
Fixed Assets CS can be deployed as a SaaS
application or hosted in a virtual office setting. During
the initial product setup process, users can import

AUGUST 2020 ■

assets from other third-party applications or choose
to enter assets manually.
Fixed Assets CS offers an intuitive user interface
arranged in a logical sequence that makes asset entry
a simple process. The Asset List window is where users
can perform all asset and depreciation related tasks
including adding, modifying, or deleting an asset. The
list also includes a description of each asset, the date
the asset went into service, tax/cost basis, and group.
Fixed Assets CS users can easily customize the user
interface to better suit their needs. Included in the
application is a Method/Life Wizard that reduces the
amount of data entry needed by automatically filling
in the appropriate method, life, and ADS life for all

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2020 OVERALL RATING

4.5

Read the full review for
this product online at:

www.CPAPracticeAdvisor.com/
21148107

Section 179 deductions taken. Users can also track
information such as product serial numbers, current
custody of the asset, the current condition, and any
investment tax credits taken.
Fixed Asset Pro is currently available for $499 for
a single user system, or users can opt to purchase a
site license for $599. Those interested in Fixed Asset
Pro can request a demo, access the product video,
or purchase and download the application from the
MoneySoft website.

2020 OVERALL RATING

4.75

Read the full review for
this product online at:

www.CPAPracticeAdvisor.com/
21148112

duplicate an asset that is similar to any new asset that
needs to be entered.
Asset Keeper Pro from Pro-Ware LLC is a powerful
application in an easy-to-use package. The license to
purchase the application costs $499, which supports
an unlimited number of users. Asset Keeper Pro
also offers a free 30-day demo to test-drive prior to
purchasing.

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

www.CPAPracticeAdvisor.com/
21148106

treatments based on the asset class chosen during
the asset entry process. Users can reduce data entry
by creating a template with client-specific details,
making future asset entry for the client a much
quicker process.
Pricing for Fixed Assets CS is available directly
from Thomson Reuters.

http://www.moneysoft.com http://www.CPAPracticeAdvisor.com/21148107 http://www.proware-cpa.biz http://www.CPAPracticeAdvisor.com/21148112 http://CS.ThomsonReuters.com http://www.CPAPracticeAdvisor.com/21148106 http://www.CPAPracticeAdvisor.com

CPA Practice Advisor

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