2017 Review of Bassets eDepreciation Fixed Assets

The Management Home Page of eDepreciation offers a list of options to the left of the screen.  Either IRS, AMT, financial book and/or a user definable depreciation schedule totals can be viewed immediately to the right, with summary totals displayed for the purchase price of the assets, along with prior year and current year totals, Net Book amounts and year-to-date totals.  Users can also view the number of active assets, fully depreciated assets, total acquisitions, sales, disposals, and transfers as well.

The Asset Maintenance form is where users will enter new asset records and/or update existing asset records.  eDepreciation handles up to four books, including IRS, Book, State, AMT and several IRS schedules.  The product notes that user defined fields, master list tables and business rule tables must be set up prior to entering a new asset into the system. Multiple depreciation methods area available in eDepreciation including MACRS, Alternative MACRS, Declining Balance Depreciation, Sum-of-the-Years Depreciation, Remaining Balance over Adjusted Life, Units of Production and Straight-Line Depreciation.  The product also handles other calculations including Section 179 Deduction, Adjustment to Basis, Luxury Auto and Truck Limitations, and others.  eDepreciation provides users with up to twenty two user-defined fields for more detailed record sorting and/or filters to provide detailed tracking of each asset record. 

Users can easily track insurance, warranty, serial numbers, vendors, asset locations using the twenty-two (22) user defined fields that are included in the product.

Users can easily transfer an asset record’s depreciation information between entities and/or dispose of assets in eDepreciation.  The product handles both partial and complete transfers and/or disposals and users can assign either a percentage or a dollar amount for partial transfers or disposals.  The same process is completed for asset disposals; with eDepreciation supporting both complete and partial asset disposals.

eDepreciation offers a decent selection of reporting options, with reports available in four categories; Financial, Tax, Asset, and Other.  Available reports include Depreciation Detail, Depreciation Roll Forward, Fully Depreciated, Asset Dispositions Gains and Losses, Depreciation Detail with Description, and an Expense Report.  Other reports include Asset Listing, Asset Acquisitions, Asset Dispositions, and Asset Inventory.  Forms 4562 and 4797 can also be printed as well.  All eDepreciation reports can be exported to Microsoft Excel, or to ASCII file.  Reports can also be saved in Microsoft Excel and Word formats, or as a PDF.

eDepreciation offers solid data import capability, with users able to import fixed asset data from Microsoft Excel, fixed length, and comma delimited ASCII files.

The product offers numerous add-on modules, including a General Ledger Interface, AP Interface, State Tax Reports, Construction in Progress, Expense/Cost Allocation, Foreign Currency, 4-4-5 Week Accounting Periods and Units of Production Depreciation.  The General Ledger Interface add-on allows users to export data to various third party accounting applications if desired.  The AP Interface allows users to import invoice detail directly to the fixed asset table, eliminating the need for duplicate data entry.

eDepreciation offers users a downloadable copy of the product to try out.  Users can choose the version they’re interested in to download and later convert to a fully licensed product.  The product includes a user guide which can be accessed from the menu bar of the software and provides detail on product setup and function.  Case studies, whitepapers and product press releases are also available from the Bassets website.  Users can purchase an Annual Maintenance agreement which includes unlimited telephone support, fixes for any system bugs, and an annual software update.  Telephone support is available during regular business hours.

eDepreciation from Bassets is a scalable product that is well suited for small to Fortune 10 Companies.  Available in four editions; Compact, WorkGroup, Standard, and Enterprise editions, the maximum amount of users supported by the product is unlimited.

Pricing for eDepreciation starts at $1,900, with add on modules available at an additional cost.  Data conversion options are also available to those looking to convert data from another application, with those services billed separately.

2017 Overall Rating – 4.5 Stars