Asset Keeper: Adaptive

Our experience with professional accountants can easily be seen in the multitude of features and time-saving options that are incorporated into our software.  You may never need to use them, but if you do, you’ll find that they will make what you thought would be a complicated process, child’s play.

Converting Your Existing Data
 Over the years, many users wanted to start using Asset Keeper, but didn’t want to re-enter the data that was in their existing fixed asset program.  In cooperation with our users, we’ve been able to develop conversion routines for many fixed asset programs that makes re-entering data completely unnecessary.  Unfortunately, we haven’t been able to create conversions for all programs, because some vendors have chosen to lock your data in so you can’t get at it. 

Here is a list of conversion programs currently available through the Conversion Wizard.

  • Accountware Depreciation for Windows
  • AICPA / Turbo Tax (DOS versions)
  • AMI / SCS Compute (DOS version)
  • Best Depreciation (DOS version)
  • BNA (DOS version)
  • BNA Next Dimension (Windows)
  • Creative Solutions (DOS version)
  • Creative Solution for Windows
  • FAS 1000/2000 (DOS versions)
  • FAS for Windows
  • Prentice Hall (DOS version)
  • Prentice Hall System 36 (DOS version)
  • Pro-series Fixed Assets (Windows)
  • ProSystem FX Fixed Assets (Windows)
  • TAASC (DOS version)
  • WorthIt (Windows)

Creating Data Files
 For example, in Asset Keeper, you aren’t stuck with a minimum or constant number of depreciation methods that you must maintain in each file,  You can have just one method in one file (such as, just book), and more than one (such as, book and tax) in another file.  Asset Keeper allows you to have up to eight methods in any each data file that you create. 

The screen shot below is from the New Client Wizard that is used to create new data files. 


(Click image to Enlarge)

In this screen shot, we are creating a file with 4 depreciation methods.  The depreciation descriptions help identify the type of depreciation we will be calculating, and the Method Types serve the same purpose; however, Asset Keeper uses the Method Types internally when performing certain functions.  For example, when adding new assets, the Method Types are used to determine the default depreciation methods and lives for your assets so that you don’t have to look them up in IRS tables or publications.

However, just because you assign a Method Type of “B” to your “Book” method, it doesn’t preclude you from assigning a tax depreciation method to your assets.  We give you the flexibility to assign whatever depreciation method you want to your assets, so that you can get the calculations you want and are not locked into what might be the “normal” method to use.

Add a Depreciation Method
 Asset Keeper also contains options that allow you to add a depreciation method.  For example, maybe you’ve only been maintain a tax method and now you need to create a “book” method so you can prepare financial statements.  The screen shot below is from the Add a New Method Wizard and shows just how easy this is to do.


(Click image to Enlarge)

There are also options to delete or even re-order your methods so they will appear in the tabs of the Add / Edit screen in a different order. 

Export and Import Data
 We are huge proponents of data independence. By this we mean that any data you enter into Asset Keeper is YOUR data, not ours.  Accordingly, we provide export options that allow you to get the data out of Asset Keeper into a variety of useable file formats.  You’ll never be faced with the problem of getting access to your data should the need arise.

We also provide for an import option that makes it possible to import data from sources other than those that we provide conversion routines for. 

Auto Assign Section 179
 This option will assign Section 179 to those assets that result in the largest overall deduction based on the methods and lives assigned to your assets. 

Global Changes
 This option allows you to change data entered for a number of assets without the tedious and time-consuming process of editing each asset.  The Global Changes Wizard allows you to select a field and replace the data contained in that field for all or selected assets.  With this, instead of spending hours editing assets, it takes only a few seconds.

Bulk Sale Wizard
 This option allows you to dispose of all or selected assets instead of editing and disposing each asset individually.  You can also allocate the Selling Price and Expense of Sale to each of the assets being disposed.

Merge and UnMerge Assets
 This option allows you to merge assets from another data file or unmerge assets in your file to a different data file. The merge option is useful if you have a user at a different location that is maintaining assets and you need to consolidate the data for tax or financial statement reporting purposes.  The unmerge option can be useful if you sell off a portion of your assets and need to transfer them to another file.

We know it’s impossible to anticipate what may happen in the future, but these are just a few of the options that make Asset Keeper adaptable to meet the unexpected.



If you wish to ask specific questions or request additional information, e-mail us at info@proware-cpa.com.

                                                                                                                                       

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