2019 Review of MoneySoft Fixed Asset Pro

Fixed Asset Pro from MoneySoft is well suited for small to mid-sized businesses looking for a no-frills asset and depreciation management application. Because of its ability to easily import and export data files, accounting firms handling asset and depreciation management for clients may find the product useful. MoneySoft is designed to be used as a standalone asset management application, with the product designed for installation on desktop or laptop computers.

Fixed Asset Pro supports an unlimited number of companies and an unlimited number of assets. Users can easily import asset data from other applications, with an import wizard available to simplify the import process. Users can also enter assets manually if desired. Entering new assets is easy, with each asset assigned a unique identifying number, though users have the option to assign a custom number as well. The asset entry screen allows users to track asset details such as service date, location, serial number, as well as assign corresponding GL numbers to the asset. Tax information is also tracked on the main page, with tabs providing access to other options such as General Asset Data, Multi-Book Asset Entry, Asset Control, File Cabinet, and Notes. For businesses managing multiple assets during the course of business, users can track product serial numbers, who currently has custody of the asset, the condition of the asset, as well as the inventory number.

Fixed Asset Pro supports up to six sets of books which include Financial, Tax, State Tax, Alternative Minimum Tax (AMT), Adjusted Current Earnings (ACE), and a user-defined book. The product also includes 36 MACRS methods including bonus methods, regular MACRS, alternative MACRS, and straight-line MACRS as well as 24 ACRS methods, 6 Pre-1981 GAAP methods, and also offers amortization and manual depreciation entry options

A customizable notes screen allows users to enter an unlimited amount of text for each asset. The product automatically calculates monthly deprecation for creating journal entries, and users can create groups in order to better track assets. Another handy feature is the File Cabinet, where users can store any asset related documentation such as warranty and repair records, maintenance schedules, and photos of each asset. Asset disposals can be handled throughout the year, and the product supports asset transfers and exchanges as well.

Fixed Asset Pro offers a good selection of standard asset and depreciation reports, including a depreciation summary for each book. Other reports include the Annual Disposal report, Annual AMT, Book Value, Personal Property Tax, and a Lifetime Projection report. The product also prints Federal tax form 4562.  Fixed Asset Pro also includes a report builder for creating custom reports. All reports can be exported to Microsoft Excel for customization, as an RTF, or saved as a PDF. The addition of the Flex View feature allows users to create custom views for each report, so only necessary data is displayed.

Fixed Asset Pro works well as a stand-alone application, but also offers solid import and export capability using a variety of formats including Microsoft Excel, Word, XML, RTF, CSV, TXT, PDF, RTF, Dbase, QuattroPro, SQL and Access. 

MoneySoft technical support is available via telephone, email, and online chat, with all support included in the price of the application. A PDF version of the current user manual is available to download, and users can access Help functionality throughout the application by hitting the F1 key. Various training options are also available, including introductory overviews to in-depth instruction.

Fixed Asset Pro from MoneySoft is a good fit for small to mid-sized businesses as well as accounting professionals.  The product is designed to be used as a stand-alone asset management solution, and offers excellent import and export capability. 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 Fixed Asset Pro can request a demo, or access the product video on the MoneySoft website. watch the product video. the application can download a full version of the product from the MoneySoft website. MoneySoft is also currently including it Quick Start Training with all purchases at no additional cost.

2019 Overall Rating – 4.5 Stars