Bloomberg Tax Fixed Assets

Accurate and Efficient

Pros

The ability to consolidate companies and modify reporting structures, even with basic reports, saves a lot of time. Management likes being able to request ad hoc reports organized to their preferences.

Cons

In sections like "Switch View," the date selection interface could be made larger to facilitate quicker navigation between months and years.

Good Software But Pricey

Pros

It has a good interface and strong functionality. The reporting tools allow for easy export to Excel but lack connectivity to other tools like PowerBI. Managing multiple companies and capital projects in a single web application is excellent. It's easy to convert completed projects into assets and tailor asset depreciation to correct any historical errors.

Cons

The primary issue with Bloomberg is its pricing based on the number of assets. Given the low cost of storage today, there's no justification for charging exorbitant rates based on asset count. If you have existing assets, you might have to either discard history or pay high fees to transfer fully depreciated assets. Additionally, while reporting to Excel works well, there is no support for other tools such as BI. Bloomberg should enable connections to other reporting platforms.

Love this for Tax Depreciation

Pros

The dataview feature lets me make adjustments and rerun calculations without generating a new report, providing real-time updates.

Cons

Modifying certain asset fields can be challenging at times.

Fixed Assets Made Easier

Pros

Using the import feature and relying on the tax update functionality improved our department's performance.

Cons

For senior management, the cost can be a limitation when adding it to our existing ERP system.

Review

Pros

Its simplicity facilitates cross-training for other users.

Cons

Since BNA moved to a CLOUD-based product, the price has surged, making it a tough sell to management.

Accurate and Efficient

Pros

I find that consolidating companies and changing reporting structures, even with basic reports, saves a lot of time. Management appreciates that they can request ad hoc reports organized however they like.

Cons

In some areas, like "Switch View," I feel the date selection could be larger, making it simpler to quickly switch between months and years.

Good Software But Pricey

Pros

I enjoy the good interface and strong functionality. The reporting tools make it easy to export to Excel, but connectivity to other tools like PowerBI is lacking. Managing multiple companies in one web application is great, as is managing multiple capital projects and converting completed ones into assets. Asset disposal is also easy, and I appreciate the flexibility in tailoring asset depreciation to correct any mistakes in asset history.

Cons

My biggest issue with Bloomberg is the pricing based on the number of assets. In an era when storage is dirt cheap, there's no excuse for arbitrary pricing levels based on asset count. If I have existing assets, I either lose history or pay through the nose to store fully depreciated assets just to transfer their records. Another major limitation is that while Excel reporting is terrific, reporting to other tools like BI is non-existent. Bloomberg really needs to add support for connections to other reporting tools.

Love this for Tax Depreciation

Pros

The dataview feature allows me to make changes and rerun numbers without creating a whole new report updates happen in real time!

Cons

Sometimes, I find it hard to change certain asset fields.

Fixed Assets Made Easier

Pros

Using the importing feature and relying on the tax update functionality improved my department.

Cons

Cost is sometimes a constraint for my senior management when adding it to our existing ERP platform.

Recvview

Pros

Its simplicity makes it easy to cross-train other users.

Cons

Since BNA moved to a CLOUD-based product, the price has increased exponentially, making it a hard sell to management.