About Fixed Assets CS
Fixed Assets CS is a fixed asset management software from Thomson Reuters that provides tools for managing the lifecycle of fixed assets. It includes features such as Purchase, Thomson Reuters, and Explore additional offerings from Thomson Reuters, so users can effectively track and manage their assets. The software is designed to help professionals stay informed of the latest updates and noteworthy developments within the industry. Key capabilities: asset tracking depreciation calculations reporting tools integration options compliance support Best for: finance and accounting professionals that need to manage fixed asset portfolios efficiently.
Fixed Assets CS is a comprehensive and robust depreciation accounting software that simplifies asset management through a logical, easy-to-follow file folder format. Its primary strength lies in its powerful calculation engine, which handles an unlimited number of depreciation treatments, including Tax, Book, all 50 states, AMT, and more, ensuring accurate compliance with professional and corporate rules. The system is designed for high data accuracy by presenting only the necessary entry options and provides an intuitive display showing calculation details for every asset treatment. The software offers robust inventory control with customizable tracking and automated asset tracking using disposal and method/life wizards that automatically populate required fields. To save considerable data entry time, users can create assets from spreadsheet imports for non-CS clients and benefit from the automatic calculation of federal and state depreciation differences where applicable. Additionally, the system features virtually limitless, customized reporting capabilities tailored to the unique needs of each client. This powerful, time-saving functionality has earned the product multiple CPA Practice Advisor Readers' Choice Awards.
Pros & Cons
- +Saves time by automatically transferring depreciation data into tax returns for accurate reporting
- +Offers a user-friendly interface that simplifies daily depreciation and asset management tasks for accountants
- +Supports multiple depreciation methods, allowing flexibility for complex asset management and tax compliance
- +Provides detailed tracking and reporting of asset history, location, and valuations for comprehensive oversight
- +Enables efficient handling of large volumes of assets, making it suitable for firms managing multiple clients or properties
- −Some users experience challenges with state-specific tax rules and regulations integration
- −Can be overwhelming for small teams without prior experience in fixed asset management
- −User interface may feel dated or less intuitive compared to modern software solutions
- −Advanced features may be underutilized without proper training or support
- −Initial setup and migration of large asset data can be time-consuming and require careful planning
Features
Key features
- Unlimited depreciation treatments
- Supports Tax, Book, all 50 states, AMT, State AMT, Earnings & Profits, ACE, State ACE, and an unlimited number of custom treatments for accurate depreciation calculations
- Robust inventory control
- Allows adding, changing, disposing, and transferring assets using a logical file folder interface with customizable tracking and sorting options
- Automated asset tracking
- Includes disposal, method/life, and association wizards to simplify asset management and ensure consistency
- Increase data accuracy
- Only presents the necessary data entry fields so users can focus on accurate asset information input
- Customized reporting
- Provides virtually limitless reporting capabilities, enabling creation of tailored reports for different clients or departments
- Federal and state depreciation
- Automatically calculates differences between federal and state depreciation rules to ensure compliance
- Spreadsheet imports
- Allows creating assets from Excel or ASCII imports for clients not using Fixed Assets CS
- Hosted cloud solutions
- Offers Virtual Office CS or SaaS deployment for remote access with strong security and reduced IT management
- Integration with CS Professional Suite
- Works seamlessly with other Thomson Reuters products such as UltraTax CS and Accounting CS
- Document and image attachment
- Supports attaching receipts, warranties, and images to individual assets for better record keeping
Additional features
- Wizards for disposal, method/life, and association
- Automates asset management tasks to streamline workflow and reduce manual errors
- Multiple depreciation methods
- Supports MACRS, ACRS, Straight-Line, Sum-of-Years’ Digits, Units of Production, Amortization, and Declining Balance for flexible tax and financial reporting
- Mass disposition and mass transfer functionality
- Allows handling of multiple assets simultaneously, saving time on bulk updates
- Like-kind exchange support
- Facilitates tax-compliant asset exchanges for qualified assets
- Asset grouping, splitting, or consolidation
- Provides organizational flexibility to manage assets according to business structure
- Standard reports
- Generates Asset Detail, Location Summary, Depreciation Projection, and IRS forms 4255, 4562, 4797, FASB109, and 3468 for regulatory compliance
- Export to Excel or PDF
- Enables sharing and offline analysis of asset reports
- Conversion support
- Assists in migrating from other depreciation systems like Asset Keeper Pro to reduce transition effort
- Integration with CS Professional Suite products
- Connects seamlessly with UltraTax CS and Accounting CS for unified financial management
- ASCII and Excel import/export support
- Facilitates batch asset creation and efficient data sharing
- Complex tax calculations
- Handles federal, state, and alternative minimum taxes for accurate reporting
- Customizable tracking fields
- Enables detailed asset classification and reporting tailored to business needs
- Hosted cloud access via SaaS or Virtual Office CS
- Provides secure, remote access to asset data with enterprise-level security features
Pricing
Countries & Languages
Available in
Interface languages
Billing currencies
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About Fixed Assets CS
Fixed Assets CS is a fixed asset management software from Thomson Reuters that provides tools for managing the lifecycle of fixed assets. It includes features such as Purchase, Thomson Reuters, and Explore additional offerings from Thomson Reuters, so users can effectively track and manage their assets. The software is designed to help professionals stay informed of the latest updates and noteworthy developments within the industry. Key capabilities: asset tracking depreciation calculations reporting tools integration options compliance support Best for: finance and accounting professionals that need to manage fixed asset portfolios efficiently.
Fixed Assets CS Details
Fixed Assets CS's In-App Market Place
Does Fixed Assets CS have an in-app market place?
Yes
How many Mini-Apps in the marketplace?
1
Mini Apps
N/A
Pricing Options
Accepted Payment Currencies
USD ($), EUR (€), GBP (£), CAD ($), AUD ($), JPY (¥), CHF (Fr.), CNY (¥), INR (₹)
Pros & Cons
- Saves time by automatically transferring depreciation data into tax returns for accurate reporting
- Offers a user-friendly interface that simplifies daily depreciation and asset management tasks for accountants
- Supports multiple depreciation methods, allowing flexibility for complex asset management and tax compliance
- Provides detailed tracking and reporting of asset history, location, and valuations for comprehensive oversight
- Enables efficient handling of large volumes of assets, making it suitable for firms managing multiple clients or properties
- Some users experience challenges with state-specific tax rules and regulations integration
- Can be overwhelming for small teams without prior experience in fixed asset management
- User interface may feel dated or less intuitive compared to modern software solutions
- Advanced features may be underutilized without proper training or support
- Initial setup and migration of large asset data can be time-consuming and require careful planning
Fixed Assets CS's Support Options
Fixed Assets CS's Alternatives
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