2018 Review of Fixed Asset Pro – MoneySoft

From the 2018 reviews of Fixed Asset Management systems.

Fixed Asset Pro from MoneySoft is best suited for small to mid-sized businesses that are looking for an affordable asset and depreciation management application that is also easy to use. Accounting professionals may find Fixed Asset Pro useful in their practice as well.   Fixed Asset Pro is designed to be used as a stand-alone application, with the product installed on local computers or on a network.

Fixed Asset Pro supports an unlimited number of assets and an unlimited number of entities that can be managed. During setup, users can choose to enter assets manually or import them directly into the product using the included import wizard. Entering a new asset is simple, with each asset assigned a unique identifying number automatically, or users can opt to enter a custom number for each asset if desired. The asset entry screen also provides users with the option to dispose of assets directly from the screen as well, with gain or loss totals automatically calculated. Assets can be assigned to a location, group, or department is desired, with GL accounts numbers assigned as well. Users can search for assets using a variety of search criteria including asset ID, description, date, location, group, class, AMT type, or GL account nub

Fixed Asset Pro supports up to six different books, including Tax, AMT, Financial, ACE, State, and a user defined option. The product offers multiple depreciation methods including 36 MACRS methods which include bonus, Regular MACRS, Alternative MACRS, and Straight-Line MACRS; 24 ACRS methods including Alternative ACRS and Straight-Line ACRS, and 6 Pre-1981 GAAP methods. Manual depreciation and amortization entry is also available.

Fixed Asset Pro includes user-defined fields that can be used to track additional asset ID, group, and location data. The File Cabinet function allows users to easily store asset related documentation such as warranty information, service records, maintenance schedules, and photos of each asset.

Users can easily dispose of assets by entering the disposal date and price. Fixed Asset Pro also supports asset exchanges as well.

Fixed Asset Pro offers a good selection of asset and depreciation reports, with users able to print reports by book, with the option to choose current year or prior year information. Reports available in the product include a Depreciation Summary for each book, Annual Purchases, Annual Disposals, Book Value, Personal Property Tax, and a Lifetime Projection Report. The product can also print Federal tax form 4562.

The reporting option in Fixed Asset Pro offers users a variety of sort options, and the addition of the Flex View feature provides users with custom views for each report; displaying only the desired data. All reports can be exported to Microsoft Excel or as a text file for further customization. A custom report builder option is also available in Fixed Asset Pro, providing users with the ability to create custom reports as desired.

Fixed Asset Pro is a stand-alone application, but the product offers excellent import capability, with users able to import and export data from a variety of application formats including Microsoft Excel, Word, XML, RTF, CSV, TXT, PDF, RTF, Dbase, QuattroPro, SQL and Access.

Fixed Asset Pro contains standard help functionality, and offers both chat and email support, or users can use the toll-free phone line during regular business hours. The product also offers users a variety or product wizards throughout the application, making it easy for new users to navigate the system efficiently.

Fixed Asset Pro from Moneysoft is a good fit for small to mid-sized businesses as well as accounting professionals. Fixed Asset Pro is currently available for $499.00 for a single user system, or users can opt to purchase a site license for $599.00. Those interested in the application can download a full version of the product from the Moneysoft website. In addition, new users will also be provided with access to Moneysoft’s Quick Start Training feature – a $195.00 value, at no cost.

2018 Overall Rating – 4.5 Stars