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Bloomberg Tax & Accounting Fixed Assets Reviews & Product Details

Bloomberg Tax & Accounting Fixed Assets is the cloud-based software solution that automates and manages your fixed assets life cycle from construction and purchase to retirement. Our depreciation software helps you avoid the main pitfalls of fixed assets management: inefficiency caused by multiple platforms and needlessly complex processes, manual calculation errors, and keeping up with changing regulations. Key benefits of the Fixed Assets software: • Stay accurate and compliant with books and reports automatically updated to include the latest tax laws and built-in depreciation calculations for MACRS, ADS, and more • Reduce IT spend with cloud-based software — multiple-users can access anywhere, anytime • Easily reconcile between periods and books without losing historical data • Automate tracking of error-prone Construction in Progress projects and easily convert expenses to depreciable assets • Avoid manual data entry and shorten financial close times by automatically integrating fixed assets software with your existing ERP system • Get the greatest tax savings out of your fixed assets by modeling different scenarios with up to 99 books

Seller

Bloomberg Industry Group

Discussions

Bloomberg Tax & Accounting Fixed Assets Community

Languages Supported

English

Overview by

Lindsay Ghrist

Value at a Glance

Averages based on real user reviews.

Perceived Cost

$$$$$

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Bloomberg Tax & Accounting Fixed Assets Media

Bloomberg Tax & Accounting Fixed Assets Demo - Flexible System with up to 99 Books

Compare asset basis across multiple books to easily help with all GAAP and tax compliance needs.

Bloomberg Tax & Accounting Fixed Assets Demo - State-specific Calculations

Bloomberg Tax & Accounting Fixed Assets includes state depreciation calculations for your most challenging states: New York, Pennsylvania, California, North Carolina, Illinois, Florida, and Minnesota

Bloomberg Tax & Accounting Fixed Assets Demo - Automatic Tax Law Updates

Bloomberg Tax & Accounting Fixed Assets is updated for new legislation quickly. Most recently, clients immediately took advantage updating their Qualified Improvement Property (QIP) from the CARES Act.

Bloomberg Tax & Accounting Fixed Assets Demo - Scenario Planning Through Reporting

Bloomberg Tax & Accounting Fixed Assets brings reporting to the next level through what if analysis/scenario planning. Examples – bonus vs. no bonus, cost segregation analysis

Bloomberg Tax & Accounting Fixed Assets Demo - Open Timeline

Open Timeline is where accurate calculations intersect with the real-world process of recording fixed asset transactions. It allows changes to assets prospectively without changing past balances. Seamlessly handle trailing invoices, late capitalizations, impairments, revaluations, and any other c...

Bloomberg Tax & Accounting Fixed Assets Reviews (19)

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Verified User in Hospital & Health Care

Mid-Market (51-1000 emp.)

10/28/2021

"Expensive program, not meant for small business."

2.5/5

What do you like best about Bloomberg Tax & Accounting Fixed Assets?

The fixed asset program was easy to use. Review collected by and hosted on G2.com.

What do you dislike about Bloomberg Tax & Accounting Fixed Assets?

There was a clock that blocked our company from using the program when the software was no longer covered. The lock-out occurred because Bloomberg BNA no longer offered unless we moved to their cloud-based program. Review collected by and hosted on G2.com.

Recommendations to others considering Bloomberg Tax & Accounting Fixed Assets:

We did not use this software to its full potential, and small businesses may want to look into the scope of the software. Review collected by and hosted on G2.com.

What problems is Bloomberg Tax & Accounting Fixed Assets solving and how is that benefiting you?

Fixed asset tracking was accurate. Review collected by and hosted on G2.com.

Sarah W.

Federal Tax Associate

Accounting

Enterprise (> 1000 emp.)

3/20/2018

"Keep track of your fixed assets"

3.5/5

What do you like best about Bloomberg Tax & Accounting Fixed Assets?

I like that this software keeps track of all fixed assets and makes it easier to apply depreciation rules. Review collected by and hosted on G2.com.

What do you dislike about Bloomberg Tax & Accounting Fixed Assets?

The software is very slow to load and freezes at times, I have had issues with AMT depreciation as well. Review collected by and hosted on G2.com.

Recommendations to others considering Bloomberg Tax & Accounting Fixed Assets:

I have tried both Sage fixed assets and BNA fixed assets. I can't say one is astoundingly better than the other. They are both slow at times but ultimately make keeping track of fixed assets easier. Review collected by and hosted on G2.com.

What problems is Bloomberg Tax & Accounting Fixed Assets solving and how is that benefiting you?

Problems solved: time wasted trying to keep track of fixed assets and recreating workbooks

Benefits realized:" more accurate depreciation reports Review collected by and hosted on G2.com.

Verified User in Transportation/Trucking/Railroad

Enterprise (> 1000 emp.)

11/9/2017

"Does the job, but not user friendly"

1.5/5

What do you like best about Bloomberg Tax & Accounting Fixed Assets?

Custom report creation, simple to enter and track assets on a basic level, and you can define your depreciation schedules based on what your company uses Review collected by and hosted on G2.com.

What do you dislike about Bloomberg Tax & Accounting Fixed Assets?

So many options for reports they are almost difficult to use, you can't export the main asset list (have to run a custom report), You can only search for asset ID with the find function, you can't search for descriptions, VIN, names, etc. Two users can't be logged in on different computers. Review collected by and hosted on G2.com.

Recommendations to others considering Bloomberg Tax & Accounting Fixed Assets:

Larger companies will need a much more advanced fixed asset accounting software Review collected by and hosted on G2.com.

What problems is Bloomberg Tax & Accounting Fixed Assets solving and how is that benefiting you?

Simple tool to create reporting figures and provide audit evidence of fixed assets. Review collected by and hosted on G2.com.

Verified User in Banking

Enterprise (> 1000 emp.)

4/11/2018

"Excellent Fixed Asset Software"

4/5

What do you like best about Bloomberg Tax & Accounting Fixed Assets?

BNA offers a great product with cloud based storage of fixed assets. The reporting feature included in the software allow about any type of report needed to be ran. Review collected by and hosted on G2.com.

What do you dislike about Bloomberg Tax & Accounting Fixed Assets?

The only complaint with the software is the way the reports appear when they are exported to excel. I would prefer a slightly cleaner look. Review collected by and hosted on G2.com.

Verified User in Accounting

Small-Business (50 or fewer emp.)

1/28/2018

"BNA Fixed Assets"

5/5

What do you like best about Bloomberg Tax & Accounting Fixed Assets?

The user interface is very easy to navigate Review collected by and hosted on G2.com.

What do you dislike about Bloomberg Tax & Accounting Fixed Assets?

It is difficult to deal with partial asset dispositions. Review collected by and hosted on G2.com.

Recommendations to others considering Bloomberg Tax & Accounting Fixed Assets:

You should compare this software to the others in the market such as fixed assets CS and CCH FAS Review collected by and hosted on G2.com.

What problems is Bloomberg Tax & Accounting Fixed Assets solving and how is that benefiting you?

Calculating current year and future year depreciation. Review collected by and hosted on G2.com.

Hamadi B.

Excecutive Director

Entertainment

Enterprise (> 1000 emp.)

2/14/2017

"Review BNA Fixed Assets Web"

5/5

What do you like best about Bloomberg Tax & Accounting Fixed Assets?

The product is best liked for the following characteristics: Ease of use, stability, Accuracy of the calculation and timely and strong product support Review collected by and hosted on G2.com.

What do you dislike about Bloomberg Tax & Accounting Fixed Assets?

I would list 2 shortcomings within the product:

1- Tracking and mapping of open issues

2- Flexibility of custom requests Review collected by and hosted on G2.com.

Recommendations to others considering Bloomberg Tax & Accounting Fixed Assets:

There are few considerations:

1- Is there a one GL System or multiple GL Systems that feed into the Fixed Assets.

2- Relationship between Tax Department and IT Department in charge of the Fixed Assets per Books.

3- Resources available in the Tax Department to manage Fixed Asset System

4- Type of Industry and Complexity of Fixed Assets management within the company

5- Number of users that would need access to the Fixed Assets system

6- Pricing

7- Consider whether to internally host the Fixed Asset solution or have the vendor host it.

Review collected by and hosted on G2.com.

What problems is Bloomberg Tax & Accounting Fixed Assets solving and how is that benefiting you?

Managing Fixed Assets from multiple ledges, consolidating tax deprecation, running scenarios for tax depreciation, building various company hierarchies for what-if-scenarios. Review collected by and hosted on G2.com.

Johnana B.

Tax Director

Utilities

Small-Business (50 or fewer emp.)

2/14/2017

"BNA FA implementation and maintenance"

5/5

What do you like best about Bloomberg Tax & Accounting Fixed Assets?

BNA FA is something I implemented last year. I did about 2 hours one on one training with a trainer, who was extremely knowledgeable about the product. Afterwards, I called for one off questions I had and was able to implement and use immediately. Review collected by and hosted on G2.com.

What do you dislike about Bloomberg Tax & Accounting Fixed Assets?

Some of the categories are a bit confusing. It just takes some time to get used to the setup. Review collected by and hosted on G2.com.

Recommendations to others considering Bloomberg Tax & Accounting Fixed Assets:

I've used Oracle and FAS previously for fixed assets. Oracle is very unforgiving and doesn't allow much change. It has been quite a while since I used FAS and don't remember much about the platform. BNA FA allows you to easily change or remove assets to get to your desired product. I am a one person tax department, so I need tools to help me work quickly and efficiently. Review collected by and hosted on G2.com.

What problems is Bloomberg Tax & Accounting Fixed Assets solving and how is that benefiting you?

I am able to pull stuff immediately rather than waiting for advisors to provide, which takes weeks. It cuts down the time needed to do modeling for the company. Review collected by and hosted on G2.com.

Verified User in Pharmaceuticals

Enterprise (> 1000 emp.)

2/14/2017

"Former FAS user"

3/5

What do you like best about Bloomberg Tax & Accounting Fixed Assets?

1. Ease of running depreciation reports for past or future periods.

2. The ability to create and delete books within a company at will

3. The ability to run projection reports on large amounts of assets Review collected by and hosted on G2.com.

What do you dislike about Bloomberg Tax & Accounting Fixed Assets?

1. Form 4562 can only be run on a full year basis

2. The locking and unlocking of companies becomes tedious when you're importing assets and running reports to check if everything is in correctly

3. CIP/Inactive assets can't be filtered out of reports on "All Assets"

Review collected by and hosted on G2.com.

Recommendations to others considering Bloomberg Tax & Accounting Fixed Assets:

1. Eliminate the need to unlock when running reports.

2. Allow for reports/forms to be run over any time period

3. When importing accumulated depreciation do not met the system update the amount. There are options to do this however they do not consistently work. In speaking with tech support they acknowledged this was a known issue but did not know when it would be corrected. Review collected by and hosted on G2.com.

What problems is Bloomberg Tax & Accounting Fixed Assets solving and how is that benefiting you?

1. Running depreciation projections for multiple scenarios with multiple books in one company. This is nearly impossible with other vendor's software. Review collected by and hosted on G2.com.

Verified User in Computer Software

Mid-Market (51-1000 emp.)

10/31/2017

"Fixed asset management for depreciation purposes"

3.5/5

What do you like best about Bloomberg Tax & Accounting Fixed Assets?

All fixed asset records in one database with multiple depreciation lives/methods and reporting Review collected by and hosted on G2.com.

What do you dislike about Bloomberg Tax & Accounting Fixed Assets?

redundant input required, not enough on screen explanations of methods/lives Review collected by and hosted on G2.com.

Verified User in Accounting

Mid-Market (51-1000 emp.)

11/2/2016

"Acceptable Product"

3/5

What do you like best about Bloomberg Tax & Accounting Fixed Assets?

I like the scalability of the software. It can grow with a company without any problems. It also has the essential feature of being able to calculate and produce depreciation reports for both Tax MACRS depreciation methods, as well as any other standard accrual/book depreciation methods. Review collected by and hosted on G2.com.

What do you dislike about Bloomberg Tax & Accounting Fixed Assets?

The functioning of adding or removing assets is cumbersome if you are entering 30 or 40 new assets for an entire year at one time because you have to manually enter each one. This takes up time if you are managing fixed assets for more than one company. Review collected by and hosted on G2.com.

What problems is Bloomberg Tax & Accounting Fixed Assets solving and how is that benefiting you?

The problem of client consistency. Most clients would not be able to produce a reliable/accurate fixed assets report if they had to track all assets themselves each year. Businesses don't always keep accurate records and will forget or not provide by mistake information on more than half their assets sometimes. Review collected by and hosted on G2.com.