Accounting
2020 Review of Pro-Ware Asset Keeper Pro
Aug. 14, 2020
From the 2020 reviews of Fixed Asset Management systems.
Pro-Ware Asset Keeper Pro from Pro-Ware LLC is a good fit for businesses looking to automate fixed asset and depreciation management. Introduced in 1985, the entire application was thoroughly updated in 2013. Built as a cross-platform application, Asset Keeper Pro includes a site license for companies that purchase the application, allowing it to be used on multiple computers. In addition, the application supports an unlimited number of both client files and assets, making it a good fit for accounting firms that manage fixed assets and depreciation for multiple clients.
Asset Keeper Pro is an on-premise application that can be installed on desktop and network computers using either Windows or Mac operating systems. Users can purchase and download the application directly from the Pro-Ware website, or download the demo and later upgrade to a full version if desired.
Although the Add/Edit Assets home page feels slightly outdated, it’s still easy to navigate, with users able to enter a general description of each asset including the date the asset was acquired. Depreciation methods can then be added, and users are able to add notes to any asset file as well as attach a picture or other related documents such as an invoice, warranty, or maintenance record. Users can also track auto mileage, record the type of asset being entered and add the location where the asset is at. To speed up the asset entry process, users can duplicate an asset that is similar to any new asset that needs to be entered.
Asset Keeper Pro offers five book methods including Federal, AMT, ACE, Book, and State. The product also offers an option to enter budget, materials, labor, and overhead for assembled or constructed assets. Asset Keeper Pro includes a method and life selection option that assists users in choosing the correct method and life for an asset, and also includes a variety of depreciation calculation methods such as MACRS Personal, MACRS Real, MACRS Indian, Book, ACRS Personal, ACRS Real, and Pre-ACRS, along with numerous others. A calculation engine is included in the application that can process a variety of depreciation calculations including Annual Depreciation, Monthly Depreciation, Beginning Accumulated Depreciation, Projected Depreciation, Short-year Depreciation, and Pro-Rated Depreciation.
In addition, monthly depreciation can be allocated to multiple cost centers or departments, with users able to lock the asset after a specific period. There is an option to override monthly depreciation calculations if necessary. A variety of auto-assign options are also included in Asset Keeper Pro including Section 179, AMT, ACE, Merger and Acquisitions, and Bonus Depreciation.
Asset Keeper Pro allows users to duplicate an asset, split an asset into one or more additional assets, or dispose of an asset, with the option to partially dispose of an asset, with the option to combine multiple assets into a single asset if desired. In addition, multiple assets can also be disposed of simultaneously, and users can create a template of any asset in the application, which can speed up the data entry process considerably.
Asset Keeper Pro offers a good selection of asset and deprecation reports with tax, depreciation, projected depreciation, and management reports available. Users are able to create batch reports that can be printed together. The application includes a report writer feature for creating custom reports if desired. Asset Keeper Pro also generates tax reports for IRS Forms 4562, 4797 and any state add-back reports. All reports can be viewed on screen, printed, exported to Microsoft Excel, or saved as a PDF.
Asset Keeper Pro offers excellent import and export capability to and from a variety of applications. In addition, Asset Keeper Pro can also convert data from other fixed assets applications including Bloomberg Fixed Assets, Fixed Assets CS, Sage Fixed Assets, and ProSystem fx Fixed Asset.
Asset Keeper Pro includes a variety of tutorials and How-To’s ranging from installation and activation details to a thorough guide to system navigation from the home screen. Help resources are available from any screen in Asset Keeper Pro, and users have access to the Learning Resources page that offers FAQs. Product support is accessible via email or telephone, with 24/7 email support offered. Support is included in the price of the application, and interim product updates are also included in the cost.
Asset Keeper Pro from Pro-Ware LLC is a powerful application in an easy-to-use package. The license to purchase the application costs $499, which supports an unlimited number of users. Asset Keeper Pro also offers a free 30-day demo to test-drive prior to purchasing.