BNA Fixed Assets in and outs
October 30, 2023
BNA Fixed Assets in and outs
Score 9 out of 10
Vetted Review
Verified User
Overall Satisfaction with Bloomberg Tax Advantage
We use Bloomberg Fixed Assets for GAAP, Fed and State Tax depreciation.
Within their software there are countless options to describe an asset, organize, and manage users with a complete audit trail by asset.
Their reporting is top notch as you can export to PDF or excel using many report options but
even better, they have an Excel Add-On where you can create your own reports and then download the data as often as you need.
This allows different users to have different reports in different excel files for property tax, income tax, GAAP audits, etc. for the time period they desire by a simple download button.
We store all our documents with their software for easy retrieval by us and our auditors who we give access to our system on a limited basis.
They also offer ASC 842 software for leases which comes with the fixed asset software.
There are options to have multiple companies, or you can use one company with multiple divisions.
For reporting online, they allow 5 sections to customize your report by whatever field you choose (Asset Type, Location, Branch, Dep. GL, etc. The software as a whole is very user friendly but can be as complicated as you want.
Within their software there are countless options to describe an asset, organize, and manage users with a complete audit trail by asset.
Their reporting is top notch as you can export to PDF or excel using many report options but
even better, they have an Excel Add-On where you can create your own reports and then download the data as often as you need.
This allows different users to have different reports in different excel files for property tax, income tax, GAAP audits, etc. for the time period they desire by a simple download button.
We store all our documents with their software for easy retrieval by us and our auditors who we give access to our system on a limited basis.
They also offer ASC 842 software for leases which comes with the fixed asset software.
There are options to have multiple companies, or you can use one company with multiple divisions.
For reporting online, they allow 5 sections to customize your report by whatever field you choose (Asset Type, Location, Branch, Dep. GL, etc. The software as a whole is very user friendly but can be as complicated as you want.
- Reporting
- User friendly
- Filter and Sorting
- Better outlay of the depreciation section, rather see periods vertically, then horizontally. The periods are difficult to move through when you need to see many months in the past or vice-versa.
- Would love to see an ability to mandate certain fields when creating an asset as every company is different.
- Would love to see each field have the ability to have it's own pick list, and the pick list that does exist needs to be larger to allow for a longer list rather than just 8-10, then the rest are hidden so you have to move to section 2 to see that continuing list.
- Allowed for very smooth audits
- User friendly, allows for documentation to be stored, very useful
- Good audit trail to see what happened.
Do you think Bloomberg Tax delivers good value for the price?
Yes
Are you happy with Bloomberg Tax's feature set?
Yes
Did Bloomberg Tax live up to sales and marketing promises?
Yes
Did implementation of Bloomberg Tax go as expected?
Yes
Would you buy Bloomberg Tax again?
Yes