Asset Keeper Questions

1. What is Asset Keeper?
2. How many years has Asset Keeper been on the market?
3. Why should I use Asset Keeper instead of some other fixed asset program?
4. Is Asset Keeper easy to learn and use?
5. How many assets can be entered for each client?
6. How many clients can I have in Asset Keeper?
7. How many methods (books) does Asset Keeper support?
8. Are there Annual Upgrade costs for Asset Keeper?
9. How do I get Technical Support?
10. Is Asset Keeper compatible with my operating system?
11. Can Asset Keeper be used on my Network?
12. Single User Version VS. Multi User? Licensing Agreement?
13. How much memory (RAM) and storage space (hard drive space) is required?
14. How can I convert my existing data to Asset Keeper?
15. Does Asset Keeper allow for importing and exporting of data?
16. How many ways can I sort my file?
17. What are the four user defined sort codes used for?
18. If we have four locations (departments or cost centers), can Asset Keeper handle all four in one file? How?
19. How many depreciation methods are available for use in Asset Keeper?
20. Can Asset Keeper determine when the Mid-Quarter convention should be applied?
21. How does Asset Keeper work for Farmers?
22. How does Asset Keeper work for Indian Reservation Property?

What is Asset Keeper?

Asset Keeper is a fixed asset depreciation program that was designed by CPA's for Accounting Professionals who found many of the other fixed asset programs unsatisfactory for maintaining depreciation schedules.

How many years has Asset Keeper been on the market?

Asset Keeper has been on the market since 1985. It has been revised and updated each year since the initial release. While some businesses come and go just to make a profit and get rich quick, Pro-Ware is here to stay!

Why should I use Asset Keeper instead of some other fixed asset program?

The answer to this question could probably fill a small book, but we'll try to keep it to a few paragraphs.

• Unlimited Site License - Every copy of Asset Keeper is sold with a "site" license. This means that it is licensed to a "site" or office location, not to a specific computer. And we don't charge you one penny more for one-hundred users than we do for one user! With Asset Keeper, you buy one copy for each office location, not one copy for every computer! Every copy of Asset Keeper is network ready, so you can install it on a network and have an unlimited number of users without incurring additional charges.
• Comprehensive - For example, we don't just allow you to take Section 179 (first-year expense deductions) on an asset, we provide an option that will determine what assets to take Section 179 on in order to maximize your deductions. See if you can find another fixed asset program that will do this.
• Flexible - With Asset Keeper you can, if you wish, override any or all of our calculations - depreciation, gain/loss, or monthly depreciation. We know that there are times, especially when you are converting from a less capable system, that you may want the depreciation to be a specific amount, so we make it easy to do just that.
• Data-Centric - We know that the data that you put in Asset Keeper is not just needed for filing your income tax returns, its important in many other ways. For example, the data may also be used for personal property filings, projections, and asset tracking, so we make it easy to export your data to a variety of file formats. And our export utility makes it easy to export just the data you need.
• Value - For one price, you get it all! There are no additional charges for extra modules to perform special tasks, such as, importing, exporting, report writer, or asset tracking. Asset Keeper can perform these tasks right out of the box... and more!
• Reporting Features - If you can find another fixed asset program that has better reports than Asset Keeper, buy it! We have that much confidence in the quality and usability of our reports. Not just the format of the reports, either; but the flexibility of what assets to include, sorting, subtotaling, and whether you want it printed in portrait or landscape mode.

Is Asset Keeper easy to learn and use?

If you are familiar with software developed for Windows 98/2000/ME/NT/XP/Vista/7 and understand some basic concepts related to depreciation, you will have no problem learning and using Asset Keeper. We have gone to great lengths to ensure that the overall design of Asset Keeper is intuitive and flexible.

How many assets can be entered for each client?

There are no limitations on the number of assets that can be added for each client.

How many clients can I have in Asset Keeper?

There is no limit to the number of clients that can be maintained in Asset Keeper. Technically, you may be limited by the free space on your hard drive, but Asset Keeper files are typically small enough that drive space is not a problem.

How many methods (books) does Asset Keeper support?

Asset Keeper has the capability of maintaining up to eight different books per client. And unlike most other fixed asset programs, your methods can be defined in any order you wish. So if you want your first method to be a user-defined method for state depreciation, you can set it up just that way.

Each method can be assigned a "method type" to identify it as your Federal, Alternative Minimum Tax, Adjust Current Earnings, Book, State, or California method. By assigning a method type, Asset Keeper will use certain rules (we call them Intelligent Defaults) to assign default depreciation methods and lives to your assets. They are also used elsewhere through out the program to make certain options easier without requiring you to identify which method is your Federal, Alternative Minimum Tax, etc.

Are there annual upgrade costs for Asset Keeper?

Unlike other companies, we do not lower our initial cost to lure you in for high priced annual upgrades or technical support charges. The cost for annual upgrades is $299.00 per year. This includes the latest tax law changes, latest software enhancements, and technical support. You will be notified about annual upgrades each November. Annual upgrades are shipped each January. There is no additional charge for periodic updates that may be sent between annual upgrades.

How do I get Technical Support?

Technical Support can be obtained by the following four ways:

1. Visit our Discussion Board.
2. Email us at support@proware-cpa.com with any questions.
3. Fax us any time at 402.861.8653 with any questions.
4. Call Technical Support at 402.861.8800 M-F 8:30-5:00 PM to talk directly to a technician.

We ensure quality and expedient technical support on a timely basis regardless of how you contact us.

Is Asset Keeper compatible with my operating system?

Asset Keeper is compatible and was specifically designed to operate in the following operating systems:

• Windows 98
• Windows 2000
• Windows ME
• Windows XP
• Windows NT
• Windows Vista
• Windows 7

Can Asset Keeper be used on my Network?

Asset Keeper can be used on Windows XP Server, Windows 2000 Server, Windows 2003 Server, Windows NT 4.0 Server, all versions of Novell, and Windows 98/2000/ME/XP/Vista peer-to-peer networks.

Single User Version VS. Multi User? Licensing Agreement?

Asset Keeper's licensing is simple. Each copy is licensed to a single office location. It can be used on any and all computers at that office location. Additionally, you can keep your data on your a server and there is no limit to the number of users who can use the program.

Technical Support is provided to all users at a registered location who have a valid serial number using the most recent version of the program with no questions asked!

How much memory (RAM) and storage space (hard drive space) is required?

Asset Keeper does not require additional RAM to be installed. Only normal Windows requirements need to be met, however as most other programs, speed may increase with the addition of memory. Asset Keepers requires a minimal amount of hard drive space. Less than 100 MB is required for the program files.

How can I convert my existing data to Asset Keeper?

Depending on the program previously used, free conversion programs exist for initial purchasers of Asset Keeper using any of the following:

• Accountware Depreciation for Windows
• AICPA/Turbo Tax (DOS)
• AMI/SCS Compute
• Best (DOS)
• BNA (DOS)
• BNA Next Dimension (Windows)
• Creative Solutions (DSII)
• Creative Solutions for Windows
• FAS 1000/2000 (DOS)
• FAS for Windows
• Prentice Hall
• Prentice Hall (System 36)
• Pro-Series Fixed Asset (Windows)
• ProSystems FX Fixed Assets
• TAASC
• WorthIT Fixed Assets for Windows

If your program is not listed above and has an Export option, you may be able to export your data, format the data for our specifications, and import the data into Asset Keeper.

Does Asset Keeper allow for importing and exporting of data?

Asset Keeper has an excellent import and export feature. File formats supported are:

• CSV-Comma Seperated Values
• DIF-Data Interchange Format
• DBF-FoxPro 2.x, dBASE, Clipper
• DEL-Deliminted ASCII
• SDF-Fixed length ASCII
• WKS-Lotus 1-2-3, version 1A
• WK1-Lotus 1-2-3, version 2x
• WRK-Symphony version 1.0
• XLS/XLSX-Microsoft Excel

Import instructions for formatting data to our file specifications can be found in the Help document in the Asset Keeper Help menu.

How many ways can I sort my file?

Asset Keeper contains 7 fields for sorting on most reports - GL Asset A/C#, four user-defined sort code fields, Accumulated Depreciation Account#, and Expense Account#.

In addition to sorting on these fields, the Sorted Depreciation Report will allow sorting on: Description #1, Description #2, Date Acquired, Cost, Depreciation Method, Life, and Entry Order.

Two levels of sorting with subtotaling is available on most reports.

What are the four user-defined sort codes used for?

Asset Keeper provides four user defined sort codes that can be used for many reasons. Sort Codes can be used for tracking Location, Cost Center, Department, Year Acquired, Serial Number, Asset Number, or any other purpose that may be needed. Sort Code screen prompts can be modified for display and report purposes. For an example of how the sort codes can be used, see the example below and the next FAQ.

Example: Insert the Year Acquired in Sort Code #2 of each asset to sort upon and print a report that will allow subtotaling for each year in which assets were acquired. This report could then be used to determine spending in previous years or for personal property taxes.

There is no limit to the kinds of data that can be entered in the user-defined sort code fields.

If we have four locations/departments/cost centers, can Asset Keeper handle all four in one file? How?

Use one of the user-defined sort code fields as described below.

Example #1: Sort Code #1 could now be called Location. The Location field for each asset could contain location names to sort and group assets upon when printing reports, such as Columbia, Atlanta, Raleigh, Sumter, etc. to denote where each piece of equipment is located.

How many depreciation methods are available for use in Asset Keeper?

Asset Keeper provides 35 different depreciation methods that use various depreciation conventions.

Can Asset Keeper determine when the Mid-Quarter convention should be applied?

Yes! Asset Keeper will determine if 40% of your acquisitions were purchased in the 4th quarter and apply the Mid-Quarter convention to your acquisitions, unless you tell the program otherwise.

How does Asset Keeper work for Farmers?

Asset Keeper works especially well with farm property. Just put the word FARM anywhere in the business activity field and the program will automatically use the Alternative MACRS depreciation methods for new acquisitions. By entering the word FARM somewhere in this field, the FORM 4562 will automatically indicate the user elected to use Alternative MACRS depreciation methods for his or her assets.

How does Asset Keeper work for Indian Reservation Property?

For qualified Indian Reservation Property placed in service after 1993 and before 2004, special MACRS recovery periods are provided that results in faster write offs. Asset Keeper has a special method, IN200, for Indian Reservation Property that will allow for shorter lives of 2, 3, 4, and 6 years. Since Indian Reservation Property is not subject to Alternative Minimum Tax (AMT), Asset Keeper will automatically assign the same depreciation method and life as your Federal method thereby eliminating any preference amount.

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