Bloomberg Tax Fixed Assets

Accounting for Fixed Assets

Kommentare: The ability to report fixed assets in multiple currencies is the best thing with this software, its so useful for a company that has branches in different countries as it automatically calculates exchange rates .

Vorteile:

This software makes the process of accounting for fixed assets so simple. One is able to record, calculate depreciation, calculate gain or loss on disposal and asset and track all fixed assets owned by a company.

Nachteile:

It is complicated and it is difficult for users to adjust the depreciation rates or add anything to it.

Accurate and Efficient

Kommentare: Bloomberg Fixed Assets is fast, easy to navigate, and most importantly, correct. Upgrading to the online program has been a huge timesaver for us, and has saved us large amounts of time, especially in tax season.

Vorteile:

The ability to consolidate companies and change reporting structures and report organization using even basic reports is a huge timesaver, and is appreciated by management, who can request ad hoc reports organized as they like.

Nachteile:

In some areas such as "Switch View" the date selection could be larger to make it easier to quickly switch between months and years.

Very Easy to use; good service, expensive pricing model; weak reporting

Kommentare: The software makes it very easy to upload and mass modify assets. If you buy it, you must get the dataview add-on that lets you integrate the reporting into excel. The base crystal reporting is hard to use and also only allows you to report on one book at a time. The database is very flexible, allowing multiple placed into service dates (one for each book) but the reporting becomes erroneous if you have to input assets placed into service in prior periods or modify the basis of an asset (say, due to an impairment). Instead you need to create new component assets for the modifications. This becomes a problem because BNA charges you based on the number of assets, and the price escalates very quickly. We have only 5 users but are forced to pay for a pricey 100 user license because we have 100,000 assets. In other words, BNA is bad for capital-intensive businesses who need detailed, accurate records. By using easy to understand asset types you can quickly populate all of your books (GAAP, Fed, AMT, etc) because lives and methods are programmed automatically by type. You get great efficiency and simply your tax reporting. If you have unusual assets you can also modify each book separately after you populate the asset type, so you retain flexibility when needed. For a smaller business, this software would be superb. The BNA team was very responsive during our implementation, and did the project management for us. All we had to do was export our old database into CSV or excel and give it to them. The job was very well done.

Vorteile:

The asset type method makes training users very easy

Nachteile:

The price model is unfair to companies with a large number of assets but few transactions. The reporting is basic and prone to error. An upgrade is required to get a good reporting capability.

Good Software But Pricey

Kommentare: My overall experience has been positive. The software is easy to use, fairly easy to import into and easy to fix asset depreciation histories when needed to keep aligned with that was booked, when what was booked was wrong. Not every program provides the granular level of control Bloomberg does. If only their pricing model wasn't so punitive and they supported external reporting tools, it would be outstanding.

Vorteile:

Good user interface and strong functionality. The reporting tools provide easy export to Excel, but lack in connectivity to other tools, such as PowerBI. The ability to manage multiple companies in a single web application is great, as is the ability to manage multiple capital projects and convert compelted projects into assets. Asset disposal is similarly easy, and they give you plenty of ability to tailor asset depreciation to accomodate any mistakes you may have in your asset history.

Nachteile:

The biggest issue with Bloomberg is pricing based on number of assets. In an age when storage is dirt cheap, there's no excuse for arbitrary levels of pricing based on number of assets. If you have existing assets, expect to have to lose history or pay through the nose to store fully depreciated assets just to bring their records over. The other major limitation is that while reporting to Excel is terrific, reporting to other tools such as BI is non-existent. Bloomberg really needs to add support for connections to other reporting tools.

Review

Kommentare: Easy to use

Vorteile:

Ease of use allows easy cross training of other users.

Nachteile:

Since BNA has gone to a CLOUD based product the price has increased exponetially making it a hardsell to manage,ment.

Love this for Tax Depreciation

Kommentare: Great!

Vorteile:

The dataview feature allows me to make changes and rerun the numbers without having to create a whole new report - updates in real time!

Nachteile:

Sometimes it is hard to change certain asset fields.

Fixed Assets Made Easier

Kommentare: Splitting assets, repairs , bonus depreciation

Vorteile:

Utilizing the importing feature and relying on the tax update functionality led to a better department.

Nachteile:

Cost is sometimes a constraint for senior management as a bolt on to our existing ERP platform.

BNA Fixed Assets Review

Kommentare: We have recently upgraded from the desktop version to the web version of BNA Fixed assets. There were many difficulties with the move, but received customer service to slowly complete the transaction. After we accomplished the transfer and customized the system to our specific use, one thing I would say that is extremely helpful is the ability to search within each field. There has been a lot to learn with the system compared to the old with specifics as report creating, defaults, and asset view. In the future I look to learn more about the software and the possible capabilities. We have found a few items that are desired enhancements as listed below:
Order of fields in Add Asset windows to be customizable
Add option to upload document within the Add Asset window when asset is created rather than editing the asset and then uploading the document
Option to add an additional asset after one is complete
Default within Add Asset windows: Override Additional First-Year Depreciation - Default next screen to choose No AFYD
Setup- Fields Asset Field List larger box to view all data at once
Similar: Edit within asset when selecting from PickList - larger selection area
Have All Favorites (reports and batches) as a filter in the reports section
Asset Viewer ability to go to next asset without exiting asset viewer
Assets View add more headers be able to scroll over (left and right)
Thank You.

Vorteile:

Ability to search within each field on the asset view.

Nachteile:

Listed below are a few desired enhancements: Order of fields in Add Asset windows to be customizable Add option to upload document within the Add Asset window when asset is created rather than editing the asset and then uploading the document Option to add an additional asset after one is complete Default within Add Asset windows: Override Additional First-Year Depreciation - Default next screen to choose No AFYD Setup- Fields Asset Field List larger box to view all data at once Similar: Edit within asset when selecting from PickList - larger selection area Have All Favorites (reports and batches) as a filter in the reports section Asset Viewer ability to go to next asset without exiting asset viewer Assets View add more headers be able to scroll over (left and right)

BNA Fixed Assets

Kommentare: I have no other depreciation software to compare it to but it works for what I need it to.

Vorteile:

I like how easy it is to set up an asset and the asset wizard.

Nachteile:

I wish there were more customization reports. I can't always make the reports how I want them to look

The cost and capability of Factset is better.

Kommentare: Our Bloomberg terminals were easily linked to this tool.

Vorteile:

It syncs well with the rest of Bloomberg which we use for other various parts of our business. The keystrokes are all familiar and the user interface is as well.

Nachteile:

Factset analytics is known to be a superior product and when testing the trials on BNA we realized our fixed income business would benefit greater from Factset.

Couldn't Do Without It

Kommentare: We couldn't have restructured our company without BNA. BNA allows us to track partnership step-ups and create multiple groups without creating new instances of a company.

Vorteile:

The software is easy to use but more importantly, it is flexible. It lets us change our minds about depreciation methods, combine different entities and forecasts depreciation out the entire life of the project. The data tools allow you to download key data points for any group of entities and analyze them without running additional reports.

Nachteile:

The help feature search tool isn't robust so you really need to know where to look in the user guide with questions. Having someone on the team be an expert is important.

BNA - Fixed Assets Essential Edition

Kommentare: The migration from our desktop to cloud version was smooth and easy from our end. The functionality and reporting capability meets and in some cases exceeds the needs we have.

Vorteile:

The ease of use is great. The site moves quickly and the excel add-on (dataview) is a great feature for building out custom reporting.

Nachteile:

Setting up users and giving permissions to different areas is not intuitive.

Great for managing fixed assets

Vorteile:

Utilizes workflow technology and automation reducing indexing and entry throughout the life cycle of a single location.

Nachteile:

Scanning software for invoices could be better utilized for maximum indexing and automation of incoming invoices.

Novo Nordisk Inc BNA Fixed Assets Review

Kommentare: In general, this works about as well and is as user friendly as you can expect from something as complicated as a fixed asset tool. We are, in general, very happy with this product. The one major complaint is regarding reports that are exported to Excel. When producing a report for export to Excel and including a fixed asset description, it automatically puts the description on the next line. Additionally, the Excel cells are all merged and text wrapped. It take a significant amount of time to get the Excel report into a user friendly format that is suitable for Excel analysis each month. The new module for exporting data is not what we are looking for either. We would like the reports with the headers and all fields as shown in the reporting feature, we would just like the report to be Excel-ready. Otherwise, it is a good product.

Vorteile:

Easy to train new, non-tax technical personnel on

Nachteile:

The way that the reports export to Excel

Ease of Use

Kommentare: I have been using Bloomberg BNA Fixed Assets for four years. It has helped to streamline our fixed assets accounting process and has also helped tremendously with tax preparation. We recently switched to the BNA Fixed Assets Web version and this has continued to help streamline our operations.

Vorteile:

Reporting functionality, versatility.

Nachteile:

Need to continue to make strides on the BNA Fixed Assets Web. Would like to see better ad-hoc reporting capabilities.

Simple Asset Management Program

Kommentare: I've been using this product for over 9 years and it's been great for me and our company.

Vorteile:

This product is easy to use and manage your fixed assets including depreciation and tax rules. Web-based software is great.

Nachteile:

No negative feedback on this product. Does exactly what I need it to do.

The best fixed asset program that I have found

Vorteile:

Flexible program making it fairly easy to create your own information reports. Handles AMT well. Current with tax laws.

Nachteile:

Need to refresh sporadically to get correct reports and the learning curve was lengthy. I like to work on Sundays and the site is frequently down for maintenance on Sundays.

Business data for risk evaluation

Kommentare: Access to key business data that is fairly current.

Vorteile:

Easy to navigate, the terms are not written in to high a level for broad access in the organization.

Nachteile:

Very robust with great depth and breadth of information - takes a little time to successfully navigate

Reverse of the last transaction

Kommentare: Generally, I like using BNA Fixed Assets - it is easy to search for particular assets, there are many options to modify reports. The only big problem I have is that I cannot reverse transactions. For instance, if I import 100 assets and I made an error, I would like to be able to reverse the entire transaction. Each time when I import something I print the transaction report. Each report should have its number, and if I want to go back in the future and reverse the transaction, I should be able to search by the transaction number and reverse it, or at least be able to reverse the last transaction.
Also, it would be great if you could improve reports saved in excel format. Very often cells in reports are combined, many additional rows and columns are added, and it is difficult to format and work with those reports. Best regards, Jerry

Easy to use

Vorteile:

I like the ease of inputting new assets. You can simply use the tab key to move from field to field and get assets entered quickly.

Nachteile:

The program has small font sizes and sometimes hard to see. The reporting is also a bit confusing once it's printed.

Fixed Asset Software

Kommentare: Overall it was a very difficult software to use, and we switched once our accounting software released their solution .

Vorteile:

It kept track of all of our fixed assets in one place.

Nachteile:

It was a very difficult staff to use. In the year I had the software I never fully understood how to use it. I wasn't ever sure on how to add things in there or adjust depreciation schedules.

BNA Software Review

Vorteile:

The software is user friendly and takes no time to figure out. We were able to easily enter an asset into the system without any issues.

Nachteile:

The reports are somewhat difficult to customize and we had trouble getting them to be in a format that we wanted.

BNA Fixed Asset tracker simplifies and cuts down on time

Vorteile:

I like that it is able to track the fixed assets over time and depreciate them accordingly based on the type of asset class it belonged to and if bonus depreciation is used.

Nachteile:

If you transfer over fixed assets on to the software, it can be a little bit of work in the front end.

Average Product!

Kommentare: Average. We expected an improvement with web vs desktop. Consolidated reporting is very poor. We need consolidated reporting similar to the desktop for our Tax Accountants.

Vorteile:

Can have more than one company open at the same time.

Nachteile:

Consolidated Reporting1q

BNA Fixed Assets

Kommentare: The software is very user friendly and the reports are easy to manipulate to achieve the results you want. The help index is confusing and I tend to call support if I have questions.

Vorteile:

user friendly and easy to get reports

Nachteile:

help index is confusing and hard to find answers