Fixed Assets Manager Software


Fixed Assets Manager by Red Moon Solutions is an asset management solution designed to support the businesses' internal tax practices. Fixed Assets Manager offers organizations in various industries, functionalities to track their fixed assets and ensure that the assets have up-to-date tax depreciation schedule.

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

FAM changes all of that, offering a financial solution to track and control these assets, as well as manage planning, reporting and compliance. Red Moon Solutions provides personalized, expert services and support to its customers.



2 Reviews of Fixed Assets Manager

Overall rating

3.5 / 5 stars

Showing 1 - 2 of 2 reviews

October 2017

Michael from MC Tax Consulting

Company Size: 1 employee

Review Source


Ease-of-use

3 of 5

Value for money

3 of 5

Customer support

3 of 5

Functionality

3 of 5

October 2017

Intuit Fixed Asset Manager

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)!

October 2017

Michael from MC Tax Consulting

Company Size: 1 employee

Review Source


Ease-of-use

3 of 5

Value for money

3 of 5

Customer support

3 of 5

Functionality

3 of 5

October 2017

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

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!