Fixed Assets CS – Documentation
Product Overview
Fixed Assets CS is a depreciation and asset management software designed for
accounting professionals. It offers a range of features for tracking and managing
fixed assets, including various depreciation methods, detailed reporting capabilities,
and integration with UltraTax and other CS Professional Suite products.
The system also allows users to create custom reports, set up business activities,
assign images to assets, and work with short-year clients.
PROS
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Integrates with UltraTax
Supports multple depreciation methods, including straight-line, MACRS,
ACRS, and more
Automates calculating federal and state depreciation differences
CONS
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Unable to import assets with specific depreciation methods
Lengthy setup and customization process
Lacks an audit trail feature
Target Market
Accounting firms and businesses that need to manage fixed assets and
depreciation for multiple clients or entities.
Features
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Depreciation Methods: Supports various depreciation methods, including StraightLine, MACRS, ACRS, Units of Production, Sum-of-the-Years Digits, and multiple
declining methods.
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Automatic Calculations: Automatically calculates depreciation based on the asset’s
method, life, and the date it was placed in service. It can handle monthly, quarterly, or
annual calculations.
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Asset Lifecycle Management: Includes tools for mass dispositions, transfers, disposals,
asset acquisition, splits, consolidations, and sales.
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Customizable Reporting: Users can generate predefined or custom reports, including
forms 4255, 4562, 4797, ns FASB 109. Reports can be saved in Excel or PDF.
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Integrations: Integrates with other CS Professional Suite products, including UltraTax
GS, and GoSystem Tax RS.
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Customizable Data Entry: Offers customization options for asset data entry, including
user preferences, client-specific options, and field navigation.
Deployment Options
Fixed Assets CS is natively an on-premise solution that can be downloaded on your internal
computers or servers. You can also remote host the solution using Thomson Reuters Virtual
Office CS platform that allows your teams to work from remote offices and access all their
accounting software virtually.
Pricing
Thomson Reuters does not list pricing publically for the Fixed Assets CS platform. Its typically
sold on as a one-time purchase with additional support contracts. If you plan on cloud
hosting the platform, expect ongoing monthly or annual costs for those services.