Bloomberg Tax Fixed Assets Reviews

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Pros

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

Cons

Transferring over fixed assets to the software is a bit frustrating and slow.