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Fixed Assets Manager (US & Canada) for Mac

Marc Ostroff's Profile

I'm in the market for a new fixed assets management program. I inherited a BNA file which we transitioned to BNAWEB last year or so. The two big problems I have is that (a) the web service is only available on a PC, and we're an all Mac company, so we have a laptop that we use to login for this, but it's not a user friendly setup. Additionally, BNA Web doesn't have depreciation rules for Canada built-in and today I realized that the GAAP settings for computers is pre-set to 10 years, and we need to go in and manually adjust (you can't change the default setup for asset classes). So, I'm in the market for a better long-term solution. Here's my requirements: * Can be desktop or web, but must be Mac-compatible * Must have a built-in module for Canadian assets to set depreciation based on Canadian tax standards We probably have about 1,000 assets or so. All suggestions welcome. Thanks!

Answers

Len Green
Title: Performance Improvement Consultant and E..
Company: Haygarth Consulting LLC
LinkedIn Profile
(Performance Improvement Consultant and ERP Strategist, Haygarth Consulting LLC) |

Marc
What is your accounting system? Can that vendor help you with a FA module (if that integrates with AP then it can make for a decent FA accounting process).
Len

(Agent, JKS Solutions, Inc.) |

Generally accounting systems are not compatible with MAC, so you will likely need to purchase a PC that is not a MAC.

BNA is a very good fixed assets program for CPA firms who manage their client's fixed assets depreciation when the client is not sophisticated enough or established enough to have an accounting department to do the accounting. BNA has been around for eons and is considered a gold standard in CPA firms.

If you are trying to implement fixed assets accounting for the first time you might need to know that in specific instances of special depreciation elections, lives, methods, and conventions, you will need to create your own custom depreciation tables and point the assets to those to get the system to depreciate correctly. No way around it.

First however, I would do some research and find out from your CPA firm what they have been using to accomplish Canadian depreciation. I have one experience a long time ago with Canadian depreciation and it seems the assets are on a declining method but never seem to fully depreciate. I'm not clear on all the rules, but there has to be a software out there or a Master Depreciation Tax Guide for Canada. If you are in the US and trying to do Canadian Depreciation, my guess is that you file your Canadian Income Taxes under a Canadian Company registration and that you have a Chartered Accountant available to you to help you out.

You might need a consultant on this rather than trying to set it up yourself. You should be setting up both a corporate book (straightline) and a Canadian Tax depreciation book (with statutory rules) and any other books that are needed.

This answer assumes you are a mid size business. 1000 assets is not a large number of assets in an ERP system, but for BNA, this might be a large number and your experience with asset accounting is likely low if you are struggling with BNA. Time to call your CPA or Chartered Accountant.

We really cannot help you with technical questions to the degree you are dealing with.

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