2017 Review of Intuit ProSeries Fixed Asset Manager

ProSeries Fixed Assets features an intuitive user interface that can be customized to suit user needs. A variety of wizards are available to utilize when setting up new clients or assets, simplifying the process considerably. Asset data can also be imported directly into the product from existing ProSeries client files as well as other formats including Microsoft Excel and CSV files. Tabs at the bottom of the data entry screen offers users quick access to depreciation schedules and other asset related information. The product also supports Section 179 deductions as well.

The product supports up to six books, including Federal, State, Book, AMT, ACT, and Other, which users can customize to suit the needs of their client.

ProSeries Fixed Asset Manager offers over thirty depreciation methods including MACRS, ACRS, Amortization, various Straight-Line, Adjusted Straight-Line, Declining Balance and Sum of Years’ Digit. The system offers a default option when entering a new asset, but the users can override it if desired.  The product offers up to five user-defined fields, which are created during the initial client setup process.

These fields can be used to track additional information about each asset.   Users can dispose of multiple assets simultaneously with the assistance of the Dispose Multiple Assets wizard, which allows users to simply choose the assets they wish to dispose from the asset list, enter the disposal date, choose the allocation method, which can be the same for each asset, if desired. Asset can also be copied or deleted from a client file when necessary. Users can also split a single asset into multiple assets when necessary, and the product supports both like-kind exchanges as well as asset transfers as well

ProSeries Fixed Asset Manager offers more than 50 pre-defined system reports. All reports are easily customizable, or users can simply create a custom report using the built-in report writer. Reports include Asset Information Schedule, Assets Acquired in Current Year, Asset Disposition, Depreciation Expense by Category, Depreciation Schedule by Tax System, ACE Adjusted Calculations, AMT Adjusted Calculations, as well as numerous amortization and GL reports. Reports can be created in sets for each client and saved for future use. The system also supports Forms 4562, 4626, and 4797, as well as a property tax worksheet. User can also export all reports to both Microsoft Word and Excel for further customization capability if desired.  

As a completely integrated application, users can easily share all depreciation data with tax preparation software, and even access the product directly from the tax preparation application. The product also offers seamless integration with ProSeries Document Management System.

All data in the product can be saved in a variety of formats including Microsoft Word, Excel, CSV, and Text formats. This also enables users to easily import data from third-party accounting and tax preparation products.

ProSeries Fixed Asset Management contains a solid help function, where users can research various topics. The product also users wizards throughout, designed to assist new users in everything from product setup to importing and exporting data. A user guide is available to product users as well. There are a variety of online support options available, and an online user’s community allows users to share issues, concerns and solutions. An FAQ section is available as well for users to access, and product support can be accessed directly from the product, with support available via telephone or email. Support costs are included in the price of the software.

Offering seamless integration with ProSeries tax program, ProSeries Fixed Asset Manager is best suited for professional accounting firms that are already utilizing ProSeries Professional products. Those not using ProSeries products may also find the product useful, as it contains excellent import and export functionality, and can be used as a stand-alone fixed asset and depreciation management solution. Fixed Asset Manager currently runs $293.00 and can be purchased online from the Intuit ProSeries website. The product is only available as a download.

2017 Overall Rating: 4.5 Stars