2019 Review of ProSeries Fixed Asset Manager

ProSeries Fixed Asset Manager from Intuit is best suited for accounting professionals that currently manage fixed assets and depreciation for clients. Fixed Asset Manager offers seamless integration with other ProSeries applications, making it particularly well-suited for firms already using other ProSeries products, though the application can be utilized as a stand-alone asset and depreciation management solution if desired.

Upon login, the client base appears, with a summary view and detail view of the client available. Clients can be entered manually, or imported from a previous year or from another application if desired. Clicking on a particular client will display a list of assets for that particular client, with information such as Date Acquired, Asset Description, Convention, Cost, Depreciable Basis and other information displayed. 

Navigation in Fixed Asset Manager is intuitive with users able to customize the data entry screen to remove any unnecessary fields. Adding an asset in the application is straight-forward, with a unique number assigned to each asset entered. Users also have the option to add a custom number if desired. Other details such as description, P.O. number, if relevant, and warranty details can also be added to the asset record. There is option available to link to a federal form if desired, and users can add specific GL accounts to the asset record. Once the top part of the asset form has been completed, depreciation information will need to be added, with Fixed Asset Manager supporting six different asset bases including Federal, AMT, ACE, Book, State, and Other, with more than thirty depreciation methods available including MACRS, ACRS, Amortization, various Straight-Line, Adjusted Straight-Line, Declining Balance and Sum of Years’ Digit. Users can also separate asset values for book and tax depreciation

Assets can also be copied from client to another, if necessary, and the product also handles asset splits, with the ability to split an asset into two or more new assets. Changes can be applied to multiple assets at one time, and users can choose to group assets by common categories, as well as user-defined categories, with up to five user-defined options available to utilize. Users can also dispose of assets as well as transfer assets if necessary.

ProSeries Fixed Asset Manager includes more than 35 standard system reports, with users able to easily customize reports as needed. The product also includes a Report Wizard which can be used to edit existing reports or create new reports. Reports available include a GL Reconciliation report, Asset List, Asset Information Schedule, Asset Disposition, Depreciation Expense by Category, Depreciation Schedule by Tax System, ACE Adjusted Calculations, AMT Adjusted Calculations, and a Personal Property Projection report. Fixed Asset Manager also supports tax worksheets for Forms 4562, 4626, and 4797.  Report sets can be custom designed for each client and saved for quick future access. All ProSeries Fixed Asset Manager reports can be exported to Microsoft Excel and Word for further customization if desired.

ProSeries Fixed Asset Manager integrates with all ProSeries Professional applications for easy transfer of asset and depreciation information to client tax forms. Data can also be imported or exported in a variety of formats including Word and Excel, as an ASCII file, or as a CSV file. 

Users can access a variety of help and support resources for Fixed Asset Management, including a comprehensive user community, where users can post questions, read trending topics, as well as alerts and trending topics. Data conversion options are available for new users, and a training portal is available for users to access learning modules, view webinars, or sign up for live training events. New users will also receive a success guide, that provides step-by-step instructions. Toll-free product support is available for all ProSeries applications during extended business hours, with 24/7 self-service support available as well.

ProSeries Fixed Asset Manager is well-suited for accounting professionals that currently use other ProSeries applications, though it can also be utilized as a stand-alone application. Fixed Asset Manager is currently priced at $338.00, with users able to download the application upon purchase from the ProSeries website. There is also a free trial available for those who wish to try the product out prior to purchasing.

2019 Overall Rating – 4.75 Stars