Fixed Assets Manager Software


 

Fixed Assets Manager by Red Moon Solutions is a comprehensive solution that was originally designed to support the internal tax practice of one of the nation's largest accounting firms. Fixed Assets Manager now offers organizations in almost any industry a streamlined, effective way to track their fixed assets and ensure that each asset has an accurate, up-to-date tax depreciation schedule.  

The set of features included in Fixed Assets Manager (FAM) simplify fixed asset data management. The solution's intuitive interface was designed to resemble Microsoft Explorer, so users immediately have a familiar environment and adoption is quick and painless. The deep functionality offered in the software can be adapted to both small businesses or enterprise-level corporations with more complex needs.

The software provides a variety of depreciation templates, called Asset Types, as well as the ability to quickly create new assets. Also pre-defined in the software are all the depreciation rules necessary to accurately calculate depreciation for Federal, ACE, AMT, accounting and any number of user-defined books.

When it comes to an organization's fixed assets, there's often a lack of any defined process or control, just because fixed assets are considered a low priority. Without tangible, traceable processes, companies can find themselves at risk for Sarbanes-Oxley compliance.

FAM changes all of that, offering a user-friendly and flexible financial solution to more effectively track and control these assets, as well as an easy way to manage planning, reporting and compliance. Red Moon Solutions provides personalized, expert services and unlimited support from a team well versed in the industry.

 

Fixed Assets Manager - Asset Input
 
  • Fixed Assets Manager - Asset Input
    Asset Input
  • Fixed Assets Manager - Dispositions
    Dispositions
  • Fixed Assets Manager - FAM Depreciation Report
    FAM Depreciation Report
  • Fixed Assets Manager - FAM Reporting
    FAM Reporting
  • Fixed Assets Manager - Main Screen
    Main Screen
Supported Operating System(s):
Web browser (OS agnostic)

2 Reviews of Fixed Assets Manager

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Michael from MC Tax Consulting
Specialty: Other
Number of employees: 1 employee Employees number: 1 employee

October 2017

October 2017

Intuit Fixed Asset Manager

Ease-of-use

Functionality

Product Quality

Customer Support

Value for Money

You NEED a Fixed Assets software to track assets esp. when there's Lots of assets
Need the reporting function that categorizes assets to certain groupings like chart of assets or property section

Pros

Exports to Intuit's ProSeries Tax software
Categorization of assets to certain groups with reports available
Can be used as a Stand Alone Fixed Asset software
Relatively simple to use

Cons

MUST be used and UPDATED annually as needed
Time-consuming to enter and to customize reports
Can't print a report just for any 1 particular asset
Must buy EACH year's software to import to EACH year's ProSeries Tax software to link properly
Don't group assets together or else it WILL be a problem when assets in the group gets 'disposed of/sold' (i.e. Don't groups vehicles 1-5 or equipment 1-5 together but list separated as each can be disposed of/sold)!
NAME the assets properly so it CAN BE TRACKED to the Actual physical asset (i.e. don't just say Computer when the office has Lots of computers)!
Annual cost is rising!
Basic file functionality is LIMITED (i.e. copy or rename files)!

Review Source
 
 

Michael from MC Tax Consulting
Specialty: Other
Number of employees: 1 employee Employees number: 1 employee

October 2017

October 2017

Intuit's Fixed Asset Manager can be used as Stand-alone or part of tax software

Ease-of-use

Functionality

Product Quality

Customer Support

Value for Money

Fixed Assets programs are a NECESSITY for tax professionals as any who REFUSE to use one or refuse to update their client's fixed assets are scammers who hurt their clients with overpriced fees!
Use the program to track assets, especially if there's LOTS of assets.
Forget using spreadsheets where many people just use the straight line depreciation and must calculate it MANUALLY which kills the efficiency and relative accuracy since you may mess up the depreciation/amortization if one does NOT pay attention to calculate them properly. Penny wise, pound foolish!!
It's best used either for financial reporting (tax/book differences, if any) and Better if used with the related tax software as it NEEDS to be updated YEARLY for EACH tax year's program or else it will NOT 'link'!
You can categorize the assets to be each for internal reporting (i.e. in QBs) but it MUST be done ANNUALLY so the records match one another.


Pros

Relatively simple to use
MUST have program to track assets esp. if there's LOTS of assets
Can categorize assets to different listings (i.e. if you maintain separate property or groups with different fixed assets for them)
Decent reporting
Exports file for import into Intuit's ProSeries
Can be used for a few years before needing the latest upgrade, provided you use it as a 'stand-alone' program.

Cons

A Necessity to buy Yearly if you use ProSeries business since you'll need to import the information
Don't need if you do NOT perform any Financial reporting as you can enter asset info in the tax return's depreciation section
Relatively expensive for just a Fixed Assets software
Intuit began to limit the use of the software to <2 years before you have to 're-license' it!
Many [OLDer] accountants refuse to update their clients' fixed assets then complain about it and Still do NOT fix them!
Must buy YEARLY to match tax software for 'link' to work!

Review Source