Top Fixed Assets CS Alternatives and Overview

While handling assets effectively, a robust framework for depreciation is essential. Adding, modifying, disposing , and moving assets quickly can been made  easy  with Thomson Reuters Fixed Assets CS. A clear, easy-to-follow folder format plus an intuitive screen showing how depreciation values are measured provides this comprehensive fixed asset management system. CS Fixed Assets reflects an infinite number of treatments — the exposure of a specialist or organization to practically all depreciation rules that require accurate depreciation.

Rich in Diversified Resources

Using this tool, multiple complicated depreciation calculations can be done quickly and efficiently, there will be an increase in the efficacy rate.  Divide the asset according to cost, unit number, or percentage of the asset, automatically users can enter AMT, E&P, state adjustments, and divisions concerning the tax returns when you use this tool with UltraTax CS and GoSystem Tax RS. Users can view the calculative results of disposals.

Rich in depreciation calculation types, users can experience 50 types of depreciation methods and can create up to 90 more depreciation methods and can use it to every client under the client tab. MACRS/ACRS treatment is also available under the depreciation treatment.

Presto and inclusive calculations

There are limitless depreciation treatments- tax, a book of 50 states, a half-year or full-year period for non-ACRS/MACRS treatments. The Method / Life Wizard is a data entry feature that sells the methods automatically and lives for a product. According to the asset class selected and the date on which the asset is put into service, the fixed assets CS compiles for all therapies calculated the appropriate methods automatically. This includes the right lifecycle and methods for determining California's C depreciation.

Cluster dispositions and transfers as whole mass can create an ‘n’ group of assets to dispose at once and transfer a group of assets at once. The tool helps in summarize and report relevant depreciation gain and loss information and assigns depreciation expenses for each asset based on the transfer date. User can create custom templates which can help with the common client's data, save time and reduce the possibility of errors, create associations to categorize assets, duplicate costs across treatments, can enter vehicles info in-vehicle data entry screen.

There are state calculations in the tool - state AMT/ACE treatments for each asset, California C Corporation depreciation, Pennsylvania straight-line depreciation, and intangible drilling cost/developed cost expensed. Users can customize built-in report templates like Asset detail, Asset information, Forms -3468, 4562, FASB109 worksheets, Future Deprecation, Balance sheet detail, etc. Considering this tool for accounting and tax firms will increase their efficacy rate in wok productivity.

Company Name: Thomson Reuters

Founded in: 2008