Bloomberg Tax Fixed Assets Reviews

“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.

“BNA - Fixed Assets Essential Edition

Pros

I appreciate how easy it is to use. The site moves quickly, and the Excel add-on (dataview) is a great feature for building custom reports.

Cons

Setting up users and giving permissions to different areas is not straightforward.

“Couldn't Do Without It

Pros

The software is easy to use and, more importantly, flexible. It lets us change depreciation methods, combine entities, and forecast depreciation for the entire project life. The data tools allow me to download key data points for any group of entities and analyze them without running extra reports.

Cons

The help feature search tool isn't robust, so I really need to know where to look in the user guide with questions. Having someone on the team be an expert is important.

“Simple Asset Management Program

Pros

This product is user-friendly and manage fixed assets, including depreciation and tax rules. I love that it's web-based.

Cons

I have no negative feedback on this product. It does exactly what I need it to do.

“Accounting for Fixed Assets

Pros

This software streamlines the process of accounting for fixed assets. It allows recording, calculating depreciation, determining gain or loss on disposal, and tracking all fixed assets owned by a company.

Cons

The system is complex and users find it difficult to adjust depreciation rates or add new items.

“Accounting for Fixed Assets

Pros

This software simplifies accounting for fixed assets. I can record, calculate depreciation, determine gain or loss on disposal, and track all fixed assets owned by the company.

Cons

It's complicated, and I find it difficult to adjust the depreciation rates or add anything to it.

“Fixed Asset Software

Pros

It keeps track of all our fixed assets in one place.

Cons

It was very difficult for me to use. In the year I had the software, I never fully understood how to use it. I wasn't ever sure how to add things or adjust depreciation schedules.

“BNA Fixed Assets

Pros

Setting up an asset is direct, and the asset wizard is a helpful tool.

Cons

I wish there were more options for customizing reports. I can't always format the reports the way I want.

“BNA Fixed Assets

Pros

The asset wizard makes setting up a new asset simple and efficient. The step-by-step process guides me through each necessary detail, ensuring that all relevant information is entered correctly. This not only saves me time but also reduces the likelihood of errors, making the entire setup experience hassle-free.

Cons

I wish there were more customization options for reports. I can't always make the reports look how I want them to.

“The best fixed asset program that I have found

Pros

It's a flexible program that makes it relatively easy to create custom information reports. It handles AMT well and is up-to-date with tax laws.

Cons

Occasionally, you need to refresh to get accurate reports, and the learning curve was long. I prefer working on Sundays, but the site is often down for maintenance on those days.

“The cost and capability of Factset is better.

Pros

It integrates well with the rest of Bloomberg, which we use for various business functions. The keystrokes and interface are familiar.

Cons

Factset analytics is reputed to be a better product, and during trials of BNA, we found that our fixed income business would benefit more from Factset.

“The best fixed asset program that I have found

Pros

The program is flexible, making it fairly easy for me to create custom reports. It handles AMT well and stays current with tax laws.

Cons

I need to refresh sporadically to get correct reports, and the learning curve was lengthy. I like to work on Sundays, and the site is frequently down for maintenance on Sundays.

“The cost and capability of Factset is better.

Pros

It syncs well with the rest of Bloomberg, which we use for other business areas. The keystrokes and interface are familiar.

Cons

Factset analytics is known to be a superior product. When I tested the trials on BNA, I realized our fixed income business would benefit more from Factset.

“Business data for risk evaluation

Pros

The navigation is simple, and the terms are not overly complex, allowing broad organizational access.

Cons

The software is very comprehensive, offering extensive information, but it takes some time to navigate successfully.

“Great for managing fixed assets

Pros

It uses workflow technology and automation, reducing indexing and data entry throughout the lifecycle of a single location.

Cons

The scanning software for invoices could be improved to optimize indexing and automate incoming invoices.

“Business data for risk evaluation

Pros

It's easy to navigate, and the terms are accessible for everyone in the organization.

Cons

The information is very robust with great depth and breadth, but it takes a little time for me to navigate successfully.

“Great for managing fixed assets

Pros

I like how it utilizes workflow technology and automation, reducing indexing and entry throughout a single location's life cycle.

Cons

I think the scanning software for invoices could be better utilized for maximum indexing and automation of incoming invoices.

“BNA Fixed Asset tracker simplifies and cuts down on time

Pros

I like that it can track fixed assets over time and depreciate them based on asset class and bonus depreciation usage.

Cons

Transferring fixed assets into the software can require significant upfront effort.

“BNA Fixed Asset tracker simplifies and cuts down on time

Pros

I admire that it tracks fixed assets over time and depreciates them based on asset class and bonus depreciation.

Cons

If I transfer over fixed assets to the software, it can be a bit of work upfront.

“Easy to use

Pros

Inputting new assets is easy. You can use the tab key to move between fields quickly.

Cons

The program uses small fonts that can be hard to read, and the reporting can be confusing once printed.

“Easy to use

Pros

Inputting new assets is easy for me. I can swiftly move from one field to another by simply using the tab key, which significantly speeds up the entire process. This functionality ensures that I can enter assets quickly and efficiently, without getting bogged down by the details.

Cons

The program has small font sizes and is sometimes hard for me to see. The reporting is also a bit confusing once it's printed.

“Love BNA fixed assets software

Pros

The software is very direct. The training and customer service are excellent. I think it's a great choice for fixed assets software.

Cons

My only issue is that sometimes the font is too small to read. I haven't contacted customer service about it yet, but I'm sure they could assist.

“BNA Software Review

Pros

The software is intuitive and easy to learn. We could quickly enter assets into the system without any problems.

Cons

Customizing reports is somewhat difficult, and we struggled to format them the way we wanted.

“Love BNA fixed assets software

Pros

The software is extremely easy to use, and the training and customer service are excellent! I think it's a fantastic choice for fixed assets software.

Cons

My only complaint is that at times the font is too small to see. However, I haven't called customer service about this issue. I'm certain they could help me out with this.

“BNA Software Review

Pros

The software is intuitive and easy to figure out. We easily entered an asset into the system without any issues.

Cons

I find the reports somewhat difficult to customize, and I've had trouble getting them in the format I want.

“Easy to use and learn

Pros

It supports different functional currencies and allows saving reports in Excel, PDF, or CSV formats.

Cons

The help site is challenging to navigate for answers, and customer support is not very friendly. No other issues.

“Easy to use and learn

Pros

I value the different functional currencies and the ability to save reports in Excel, PDF, or CSV formats.

Cons

The help site is difficult for me to find answers. Customer support people are not the friendliest. No other cons.

“Ease of Use

Pros

I have used Bloomberg BNA Fixed Assets for four years. It has streamlined our fixed assets accounting process and greatly assisted with tax preparation. We recently switched to the BNA Fixed Assets Web version, which continues to enhance our operations.

Cons

There is a need to make continuous improvements to the BNA Fixed Assets Web, particularly with ad-hoc reporting capabilities.

“BNA Fixed Assets

Pros

The software is very intuitive, and the reports are easy to customize to get the desired results. The help index can be confusing, so I usually call support if I have questions.

Cons

The help index is confusing and makes it difficult to find answers.

“BNA Fixed Assets Review

Pros

The capability to search within each field on the asset view.

Cons

Here are a few suggested improvements: Make the order of fields in the Add Asset windows customizable. Add an option to upload documents directly within the Add Asset window when creating an asset instead of editing it later. Include an option to add another asset immediately after completing one. In the Add Asset windows, set the default to override Additional First-Year Depreciation and automatically choose No AFYD on the next screen. Increase the size of the Asset Field List box in Setup to view all data at once. In the Edit asset section, when selecting from the PickList, enlarge the selection area. Include all Favorites (reports and batches) as a filter in the reports section. Enable navigating to the next asset within the Asset Viewer without exiting. In Assets View, add more headers and allow horizontal scrolling.

“Average Product!

Pros

Allows multiple companies to be open simultaneously.

Cons

Combined Reporting.

“Novo Nordisk Inc BNA Fixed Assets Review

Pros

Simple to train new personnel who aren't tax experts.

Cons

The method in which reports are exported to Excel.

“Great value for the investment

Pros

Overall, the BNA Web fixed asset product is easy to use and allows me to generate IRS forms, making the US tax return process more seamless. The flexibility in reporting is also useful for obtaining actual and forecast data quickly.

Cons

It was very difficult software for me to use, and we switched once our accounting software released their solution.

“Reverse of the last transaction

Pros

I generally like using BNA Fixed Assets , it's easy to search for specific assets, and there are many options to modify reports. My only big issue is the inability to reverse transactions. For instance, if I import 100 assets and make an error, I want to be able to reverse the entire transaction. Each time I import something, I print the transaction report. Each report should have a number, so if I need to reverse the transaction later, I can search by that number. Also, it would be great if you could improve reports saved in Excel format , very often, cells in reports are combined, many additional rows and columns are added, and it's difficult to format and work with those reports.

Cons

The cost of this product is extremely high, making it difficult to justify its expense. I find it to be quite pricey compared to similar options available on the market, which can be a significant barrier for companies with limited budgets. This elevated pricing makes it hard for me to recommend it without reservations, as I believe there are more affordable alternatives that might offer similar functionalities without the hefty price tag.

“Bloomberg BNA Fixed Assets - It just works

Pros

I love the ease of use and the customer service has been exceptional, always providing prompt and helpful support whenever I've needed assistance. This combination of ease of use and outstanding customer service enhances my overall experience with the software.

Cons

The date when the asset was placed into service needs to be clearly indicated. It's essential for tracking the asset's usage and ensuring accurate record-keeping. Having this information readily available helps in managing the lifecycle of the asset and maintaining compliance with financial reporting standards. Without this crucial date, it becomes challenging to monitor depreciation schedules and assess the asset's overall performance.

“Ease of Use

Pros

The reporting functionality and versatility impress me.

Cons

I think strides need to be made on the BNA Fixed Assets Web. I would like to see better ad-hoc reporting capabilities.

“BNA Fixed Assets

Pros

It's easy to use and making the process of generating reports uncomplicated. Its intuitive design allows me to create detailed reports quickly and efficiently, streamlining my workflow and saving valuable time.

Cons

The help index is confusing and hard for me to find answers.

“SR Accountant

Pros

I've had a good experience with the software. It was very easy to set up, add assets, and make changes mid-year. The reporting is great and can be easily modified. The only bad experience I've had was with customer service. I hoped they would be more understanding and guide us through issues, but instead, I was referred to the manual to figure it out myself.

Cons

I would like the reports with the headers and all fields as shown in the reporting feature to be Excel-ready. Otherwise, it is a good product.

“Farmers Bank of Appomattox

Pros

We've been BNA desktop customers for many years and recently converted to the BNA web product. The conversion wasn't as smooth as hoped, but we finally got up and running. The primary complaint so far is the microscopic font size in reports. We'll work with technical support to solve this issue, hopefully. So far, technical support has been very responsive and helpful.

Cons

Average. I expected an improvement with web vs. desktop. Consolidated reporting is very poor. We need consolidated reporting similar to the desktop for our Tax Accountants.

“BNA Fixed Assets Review

Pros

I like the ability to search within each field on the asset view.

Cons

Listed below are a few desired enhancements: Order of fields in Add Asset windows to be customizable; Add option to upload documents within the Add Asset window when an asset is created rather than editing the asset and then uploading the document; Option to add an additional asset after one is complete; Default within Add Asset windows: Override Additional First-Year Depreciation - Default next screen to choose No AFYD; Setup - Fields Asset Field List - larger box to view all data at once; Similar: Edit within asset - when selecting from PickList - larger selection area; Have All Favorites (reports and batches) as a filter in the reports section; Asset Viewer - ability to go to next asset without exiting asset viewer; Assets View - add more headers and be able to scroll over (left and right).

“Average Product!

Pros

The software allows me to have multiple companies open simultaneously. This feature is incredibly convenient, as it lets me switch between different companies effortlessly. It enhances my productivity by enabling me to manage and compare data from various entities without needing to close and reopen files constantly.

Cons

Effective consolidated reporting helps streamline data analysis and improve the accuracy of financial and operational insights.

“Novo Nordisk Inc BNA Fixed Assets Review

Pros

It's easy to train new, non-tax technical personnel.

Cons

The way that the reports export to Excel.

“Very Easy to use; good service, expensive pricing model; weak reporting

Pros

The asset type method simplifies training for users.

Cons

The pricing structure is disadvantageous for companies with numerous assets but infrequent transactions. The basic reporting is often inaccurate. An upgrade is necessary for better reporting capabilities.

“Very Easy to use; good service, expensive pricing model; weak reporting

Pros

The asset type method simplifies the training process for new users significantly. By categorizing assets in a clear and organized way, it helps new users understand and navigate the system quickly. This method ensures that training is efficient and that users can become proficient in managing assets in a short amount of time.

Cons

The price model is unfair to companies with a large number of assets but few transactions. The reporting is basic and prone to error. An upgrade is required to get good reporting capability.