Bassets eDepreciation
4 Reviews 5/5 ★ ★ ★ ★ ★A fixed asset management system that tracks depreciation and is compliant with IFRS, GASB 34, and state tax reporting.
Product Overview
Bassets eDepreciation is a platform designed to streamline the fixed asset management process, providing businesses with the functionality needed for accurate Tax and GAAP depreciation calculations. It can handle small to large datasets, making it suitable for businesses of all sizes. Plus, its intuitive tools and interfaces make it accessible for both beginners and advanced users.
It includes features for foreign currency conversion, 445 accounting, state tax reporting, lease tracking, and construction in progress depreciation, making it a great fit for both small and large organizations.
Pros
- Exclusive discount for nonprofits and municipalities
- Ensure compliance with IRS and GAAP regulations
- Supports 445 Accounting
Cons
- Pricing requires a consultation
- Limited API integrations
Target Market
Mid-to-large organizations with complex asset portfolios, strict tax compliance needs, and on-premise IT policies. It is especially well suited for industries like manufacturing, utilities, construction, and government and healthcare organizations.Video Overview
Features
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Flexible Period (445 Accounting): Supports non-standard tax years with either 4-4-5 week cycles or 13 equal 28-day periods.
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Accounts Payable Import: Imports invoice details into CIP or asset records. Auto-generates assets and depreciation schedules using predefined defaults and GL/Class codes.
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Barcode Inventory Control: Enables physical inventory audits using barcode scanners or custom data collection tools. Compares scanned data with internal system records.
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Construction in Progress (CIP): Manages projects with multiple invoices. Completed projects can be consolidated into single or multiple assets using 17 customizable selection criteria.
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Expense Allocation: Distributes depreciation expenses across divisions or cost centers via allocation pools. Reports can sort and filter expenses by individual assets or allocation pools.
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Foreign Currency Conversion: Maintains asset codes and cost information in a Functional Currency. The system can generate depreciation, gain/loss, and other reports across various currencies.
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General Ledger Interface: Exports monthly depcreation total by general ledger code. Users can define columns, file formats, and reporting months.
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Leased Asset Tracker: An optional feature that tracks leased assets with details like leae type, terms, and fees. Generates reports by lease attributes or leasee/lessor relationship.
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State Reporting: Supports depreciation compliance for all U.S. States and the District of Columbia. Automates compliance for all assets for the unique requirements of each state.
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Units of Production: Depreciates assets based on usage or output instead of time. Includes options for manufacturing and mining-specific industries. This is an optional module.
Product Overview
Developer Overview
User Reviews of Bassets eDepreciation
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Bassets eDepreciation Review
Support was extremely helpful in getting my issues resolved.
Pros
The best part has been the support
Best Depreciation Software Company
Bassets is a top-notch depreciation software. Everyone I worked with, from sales to implementation and support, was very knowledgeable about fixed assets and depreciation. I had to switch software providers at the last minute due to a failed implementation and the inability of the software to calculate depreciation in a multi-state and multi-book environment correctly. Bassets was able to pick up my account quickly, get to work, and deliver in a tight time frame. They have a system down that works. Customer support is the most responsive and thorough that I have ever worked with from a software provider. I have used several depreciation software products throughout my career. I honestly would not spend the time or money to go with any provider other than Bassets. Bassets is a high-quality, high-value product.
Great Performance and Security
My IT recommended an SQL solution for performance and security. And I feel like I haven’t had to wait more than fifteen minutes to get a live human being to assist us when needed.
Great Customer Support
I needed customer support to help me figure out how to backup my database and how to use the import feature to record current-year additions. The help I received was excellent. I was quickly connected with a technical expert who worked with me to resolve my problems expediently.
