Depreciation Solution is Creative Solution’s asset management application, which can be used as a stand-alone system or in conjunction with the company’s wide array of fully integrated accounting and tax preparation software. The program offers a variety of depreciation methods and books, and provides IRS forms and supports an unlimited number of client companies and assets per company, including departments. Licenses for the system start at $1,100.
NAVIGATION/EASE-OF-USE – 5 Stars
Depreciation Solution sports an exceptionally intuitive interface that offers extensive customization options and data-entry wizards and other aides such as lookup screens and smart entry fields that remember common entries. As well, users can set up templates for companies that expedite data entry. The program’s mostly blank entry screen provides access to system utilities and features through a variety of pull-down menus and icons. When within a company’s records, a subwindow opens within the master screen, thus keeping the primary system toolbars accessible across the top, and also providing additional options on the subwindow. Client records open to the Business Asset List, which provides a spreadsheet view of assets for that company, sortable by several data columns, and accompanied by buttons for adding, modifying or deleting assets.
The left side of the screen houses a menu tree that provides quick access to activity-oriented forms and tasks through a selection of file folders, which are determined by the primary tax return type of the client company. For an 1120S client, these folders include Business, COGS, Farm, Farm Rent, Rental and Misc. Assets associated with one of these activities can be transferred to other areas, as needed. The program also provides several customizable sorting options that enable users to view data they deem to be most pertinent. This file folder system simplifies tasks involved with creating, transferring, disposing and editing assets.
MANAGEMENT FEATURES – 5 Stars
Depreciation Solution offers 10 depreciation methods, including MACRS, ACRS, Straight-line, 200/150/125% Declining Balance, Sum-of-the-Year’s Digits, Units of Production and Amortization, and 99 user-defined methods. It provides tax, book, state, AMT, ACE and up to four customized depreciation treatments. These user-defined treatments can be used to track earnings and profits or 263A costs. The system also allows users to create monthly, quarterly or annual depreciation calculations. All calculations are performed automatically, and users can view how depreciation values were calculated by using the Display Calculation feature. The system also boasts strong state calculations, including up to six different state treatments per asset, and includes all state section 179 limits and bonus depreciation deductions, as well as California C Corp depreciation and Pennsylvania straight-line depreciation. With the fall 2004 release, the program will be enhanced to allow an unlimited number of state, state AMT, state ACE or customizable treatments for each client.
Depreciation Solution can perform like-kind exchanges; splitting and grouping of assets; and partial and mass dispositions and transfers based on percentage, value or number of units within the asset.
The program includes the Method Life Wizard, which automatically fills in the methods and lives for an asset after users determine the asset class. The system includes 40 predefined asset classes, including Regular, Farm, Indian Reservation and Governmental lists. The system then calculates the appropriate treatments based on the class, date it was placed in service, methods, lives and ADS lives.
The optional Fixed Asset Inventory module provides more extensive support for companies with complex inventory management needs, keeping track of new acquisitions as well as the location of items and associated information.
INTEGRATION – 4.5 Stars
As part of Creative Solutions’ suite of accounting and tax preparation products, Depreciation Solution fully integrates with all other CSI products, which enables users of their tax and write-up programs to immediately have access to asset data without having to import/export the information from an external application. The program also exports to Thomson RIA’s GoSystem Tax products. The program does not import directly from outside programs, but can export and import to/from ASCII and *.DIF files, providing data exchange capabilities with many applications.
REPORTING – 5 Stars
Depreciation Solution includes a wide range of customizable reports, including an asset detail report that provides full information for each treatment and can be sorted by association, method, life or disposal detail. The program also includes dozens of additional reports, all of which can be customized as needed by client, department or individual asset, including the ability to print portrait and landscape; print multiple pages per sheet of paper; or adding headers, footers, titles and subtitles. Report templates can also be employed to automatically pull information needed by specific clients. The system can generate IRS forms 4255, 4562, 4797 and worksheets for AMT, ACE and FASB 109. All reports can be viewed on-screen prior to printing.
TECHNICAL SUPPORT/UPDATES – 5 Stars
Creative Solutions provides a variety of support options including toll-free phone-based support, online documentation and their online user support community ARNE2. Within Depreciation Solution, a well-built help utility provides excellent assistance, which is augmented by right-click menus and point-and-click and context-specific help. Program updates are available online and by CD.
SUMMARY
Depreciation Solution provides a strong asset management and reporting utility and a comfortable and intuitive interface for a mid-level price. Its reporting functions are outstanding.
2004 OVERALL RATING: 4.5 Stars
These applications were reviewed
in the following categories, which
were determined to be areas of high
importance for asset management
and depreciation programs through
feedback from professional accountants
and software developers.
Navigation & Ease-of-Use. This area covers the design and layout of the
interface, including accessibility to primary program
functions and data entry, as well
as general operation of the program,
thereby providing an overview of
how easily a user could get up and
running and be proficient with the
system.
Management Features. This section identifies the number of books supported
by the software, as well as depreciation methods available, asset editing functions, and
various capabilities including splitting assets, mass edits and dispositions. Additionally,
whether the program supports barcode scanning technologies is addressed.
Integration. The ability of the program to integrate or provide
export/import capabilities can save significant time during
tax season. This section identifies
the program’s ability to share
data with tax software, GL programs
and other accounting systems.
Reporting. Asset management and depreciation activities need a paper trail
(even if it is a paperless paper trail). This section looks at the reporting functions of
the program, including customization and report writer features, as well as support for
various IRS forms and schedules.
Technical Support/Updates. This section assesses a program’s built-in help
utilities and gauges available support options and whether
they are included with the software
license or require an additional
purchase. It also examines whether
updates are included or must be
purchased as well as the frequency
and method of delivery of the updates.
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