Pro-Ware ' Asset Keeper

In use by companies that vary in size from Fortune 500 companies to small businesses, Asset Keeper is a low-priced asset management application that supports up to eight methods of depreciation, unlimited clients and assets, multiple asset tracking options including partial and mass dispositions and transfers. It also provides features that include standard and customizable reports, and depreciation projections. The system costs $599 for a site license that allows multiple users in the same office at no additional cost, with annual updates at $299. Pro-Ware also produces Accountants Helper, which includes amortization and ratio and loan analyses.

NAVIGATION/EASE-OF-USE – 4.5 Stars
Asset Keeper opens to a crisp Windows interface that uses a combination of pull-down menus and intuitive icon buttons to provide access to primary features. The default entry screen provides an index card of information on the current open company, including the books and calculating conventions used for the company. Additional client information can be accessed or edited from the Client Information screen, which can be accessed via an icon in the toolbar that looks like a Rolodex card. Further definition of the client, depreciation methods applied to the client, as well as additional defaults and customization options can be set and managed from this screen.

A list of assets associated with the company can be viewed by selecting the Display Assets from the pull-down menu (unfortunately, there is no icon for this). This prompts a filtering mechanism that requires the user to select the method of depreciation and whether or not to show a detail or summary display. The system then displays a print-ready list/report of assets of that depreciation type, with company name, page numbers and assorted asset information. While this list is not available via an icon, one is present on the toolbar for adding and editing assets, which elicits a data-entry screen that includes tabs for entering financial information and viewing depreciation calculations. The system allows copying of assets during entry, enabling users to easily duplicate identical items, and includes several wizards that assist with client, asset and book setup. Additionally, the system allows resizing of forms for better resolution.

MANAGEMENT FEATURE – 4 Stars
Asset Keeper supports up to eight depreciation methods, including Book, Federal Tax, State, AMT and ACE, in addition to three user-defined depreciation methods, but the program does not enable viewing the various books simultaneously. The system’s Global Change feature allows users to change multiple fields simultaneously for a single or group of assets, including depreciation life, depreciation methods, acquisition date, valuation and business use percentage. Asset Keeper also includes the ability to consolidate data files between two companies or divisions, splitting of assets, partial and mass dispositions, bulk sales and like-kind exchanges. The system can automatically assign depreciation methods and books, and includes a Section 179 wizard that adjusts current depreciation, and an auto-AMT function that assigns methods and lives automatically.

Asset Keeper’s automated calculations further assist in depreciation management by automatically performing several functions, including an Annual Depreciation option that checks for qualification and applies mid-quarter convention, and the Monthly Depreciation option, which calculates depreciation for up to 12 months or for the actual time the asset was in use. The system’s projected depreciation function can assess future asset depreciation for up to 99 years.

Asset Keeper also includes pre-designed personal property reports for 17 states. The system does not support bar coding technologies.

INTEGRATION – 4 Stars
Pro-Ware offers conversion services for transferring data from many depreciation programs, in addition to Asset Keeper’s built-in import capabilities and step-by-step instructions that assist in retrieving data from Excel, Lotus, ASCII, *.DIF and *.WRK formats, but the system does not directly integrate with any tax or GL packages. The program can save reports in *.PDF format, allowing simplified sharing and viewing of system output.

REPORTING – 5 Stars
In addition to more than 180 pre-defined reports, Asset Keeper includes a built-in report writer that enables user-created reports. Among its library of pre-defined reports are templates for general depreciation and tax, financial and projection reports. The program prints to standard paper stock in portrait or landscape and provides good control over output configuration. Asset Keeper prepares fileable versions of forms 4562 and 4797, and worksheets for forms 4626 and 6251.

TECHNICAL SUPPORT/UPDATES – 4.5 Stars
Asset Keeper is updated as tax laws and regulations necessitate, with updates available for download from Pro-Ware’s web site. The system includes unlimited technical support at no additional cost, and comes with a printed user’s manual that is well developed but would benefit from graphic illustrations and screenshots. The built-in help system also provides good assistance, including context-specific help, but would also be more useful if it included screen shots and right-click assistance. An online discussion board and a tutorial are included in the system’s Help pull-down menu.

SUMMARY
Asset Keeper offers a well-developed interface that provides intuitive data entry, simple navigation and strong reporting features in a low-cost application. Although the system can easily handle any number of assets, companies and complex transactions, it is likely best suited to mid-sized and smaller companies.

2004 OVERALL RATING: 4.5 Stars

These applications were reviewed
in the following categories, which
were determined to be areas of high
importance for asset management
and depreciation programs through
feedback from professional accountants
and software developers.

Navigation & Ease-of-Use. This area covers the design and layout of the

interface, including accessibility to primary program
functions and data entry, as well
as general operation of the program,
thereby providing an overview of
how easily a user could get up and
running and be proficient with the
system.

Management Features. This section identifies the number of books supported

by the software, as well as depreciation methods available, asset editing functions, and

various capabilities including splitting assets, mass edits and dispositions. Additionally,

whether the program supports barcode scanning technologies is addressed.

Integration. The ability of the program to integrate or provide

export/import capabilities can save significant time during
tax season. This section identifies
the program’s ability to share
data with tax software, GL programs
and other accounting systems.

Reporting. Asset management and depreciation activities need a paper trail

(even if it is a paperless paper trail). This section looks at the reporting functions of

the program, including customization and report writer features, as well as support for

various IRS forms and schedules.

Technical Support/Updates. This section assesses a program’s built-in help

utilities and gauges available support options and whether
they are included with the software
license or require an additional
purchase. It also examines whether
updates are included or must be
purchased as well as the frequency
and method of delivery of the updates.