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CCH ProSystem fx Adds Fixed Assets To Office Suite
(TORRANCE, CA., April 23, 2001) - The ProSystem fx Office, the comprehensive integrated suite of software products for accountants from CCH Tax Compliance, has been expanded to include a complete asset tracking, management and reporting solution: ProSystem fx Fixed Assets™. This new addition to the ProSystem fx Office suite gives users the tools to manage all asset management and depreciation tasks and completely integrate their results with ProSystem fx Tax, the industry’s most respected tax preparation and compliance software. (For more information or to order, contact your CCH Sales Representative at 1-800-PFX-9998 or visit the CCH Tax Compliance web site at www.prosystemfx.com.)
"ProSystem fx Fixed Assets offers state-of-the art functionality, extensive customization features and superb reporting capabilities along with the ease-of-use features and world-class support that professionals have come to identify with ProSystem fx Office products," said Bob Dias, Marketing Manager, ProSystem fx Office.
ProSystem fx Fixed Assets allows an unlimited number of assets to be entered for each client. Users can work with up to eight different books – including financial, federal tax, AMT, ACE, state tax, and three user-defined books – viewable side-by-side on one screen. The system projects all depreciation types for the depreciable life of an asset, providing comprehensive tax and asset management capability. MACRS, ACRS, sum-of-years-digits, amortization, straight line, listed auto, declining balance, Section 179 and units-of-production methods of depreciation can be calculated and maintained simultaneously.
ProSystem fx Fixed Assets also handles special situations easily, such as determining a mid-quarter convention and calculating depreciation accordingly. The limits for listed autos and section 179 are automatically computed, and ProSystem fx Fixed Assets also computes section 179 and section 280(f) recapture. Multiple assets can be grouped for simplified disposal as one unit, and the system easily handles like-kind exchanges.
Customized Fields, Displays, Range of Reports
Users can tailor ProSystem fx Fixed Assets to fit their specific needs, using options that complement extensive built-in functionality and provide additional flexibility.
For example, user-defined fields can be added to standard asset information entries and three user-defined books can be established for any unique depreciation treatment needs. Users can also configure the display style and create custom filters for ordering, sorting and adjusting the view of the asset list.
The system produces a wide range of standard calculation, projection and asset reports including:
- Depreciation Expense Report
- Asset Information Report
- Depreciation Expense Comparison
- Asset Notes Report
- Detail Projection
- Depreciation Variance
- Multiple Period Projection
- Net Book Value
- FASB 109 Projection
- Disposition Report
- Alternative Minimum Tax
- Journal Entry Report
- Annual Activity Report
- Form 4562 Worksheet
In addition to predefined financial and tax reports, ProSystem fx Fixed Assets allows users to define common report groups and to filter, sort and set reporting periods to produce reports specific to their needs.
Seamless Integration, Simple Set-up
ProSystem fx Fixed Assets offers seamless two-way integration with ProSystem fx Tax. Setting up the system is simple because it directly imports client and asset information from ProSystem fx Tax in one easy step.
Then, when it’s time to prepare client returns, asset information from ProSystem fx Fixed Assets can flow into ProSystem fx Tax in full detail or as depreciation totals offering the flexibility to choose the type of information provided on each tax return.
For More Information
For more information on ProSystem fx Fixed Assets, visit http://www.prosystemfx.com or call 1-800-PFX-9998.
About CCH INCORPORATED
CCH INCORPORATED, founded in 1913, has served four generations of business professionals and their clients. The company produces approximately 700 print and electronic products for securities, tax, legal, banking, securities, human resources, health care and small business markets. CCH is a wholly owned subsidiary of Wolters Kluwer North America. The CCH web site can be accessed at www.cch.com. The CCH ProSystem fx web site can be accessed at www.prosystemfx.com.
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