CPA Software News gives Fixed Assets Manager 5-star rating ~ December 2002

Fixed Assets Manager from Vertex Inc. (866-829-8324; www.vertex inc.com) adds a new name to the realm of asset management software but not an entirely new product.

Vertex purchased Fixed Assets Manager from Arthur Andersen Tax Technology Enterprises in June of this year, and has overseen the addition of new features and the renaming of the product. The program provides scalable asset depreciation tracking for an unlimited number of assets and entities, as well as the creation of any number of books to accommodate even the largest client organizations. After installation and creation of a new database, the program opens to a browser-like environment, with pull-down menus and an icon menu across the top, which includes back and forward functions with histories for each.

Additional icons include printing, calculation, new item, help and find functions. All toolbars and window areas are customizable. The remainder of the screen is split, with a vertical Explorer pane (file tree) in the left panel featuring expandable/contractible folders and subfolders for each client entity and their variousbooks. The All Assets folder within each client directory allows one-click movement to a sortable, comprehensive list of client assets in the primary window. The Output pane, a horizontal frame across the bottom, provides information on the most recent actions performed, including searches, diagnostics and conversions. Each of these three windows can be hidden or re-opened through the View pull-down menu. Selecting an asset from the primary window can be accomplished by double-clicking the asset, by highlighting it and selecting Open or by using a right-click short cut menu. The Asset Input window then appears over the background screen, providing all information on the item as well as access to a tabbed selection of books, accounting information and advanced features. Asset specific reports and forms, as well as asset notes can also be accessed through this area, including nine standard reports. Reports include adjusted basis, depreciation, retirement, journal entry, and forms 4562, 4684, 4797 and 6552.

To enter new client asset information, users can select the New icon, select New from the Actions menu or simply right-click within the asset information window. The program automatically enters default information for federal, accounting, AMT and ACE books based on IRS-prescribed asset class codes. Any number of additional books can be created as needed. The data-entry screen is quick and well laid out, providing easy access to the most frequently used areas of input. Existing client data can be transferred from Access database files or Excel spreadsheets. The program also contains a Life-to-Date utility that assists in retrieving data from other software programs, including v e r i f y - i n g a n d adjusting p r i o r depreciation and determining the adjusted cost of ACE assets acquired prior to 1990.

Vertex provides assistance for users converting from other programs. Like most other  asset management programs, this one is structured around a database that grows as client data is entered into the system. Vertex’s Fixed Assets Manager is available as eithera single-user or network version, with single-user workstations operating on Windows 98/NT/2000 with 256MB of RAM and a 733MHz processor. For optimum operation, Vertex recommends Windows 2000, 384MB of RAM and a 1GHz processor. Disk space with populated databases can run up to 2GB, including automatic backup.

Pricing for this program is tier-based, starting at $1,550 for a single-user version, designed for companies with fewer than 30,000 assets. The annual update for this version is $1,240. A variety of other network and multi-user packages provide versions of the program for clients with assets exceeding 75,000. This is a high-end product, designed to provide asset management support for large enterprises, but it has been scaled into versions that are inexpensive enough for smaller entities. The program maintains a very  user friendly environment, making it fairly simple to learn for firms that want to spend more time working on their client records than training employees on how to enter data.