Bloomberg Tax Fixed Assets Pricing, Features, Reviews and Alternatives

The ability to consolidate companies and change reporting structures and report organization using even basic reports is a huge timesaver, and is appreciated by management, who can request ad hoc reports organized as they like.

In some areas such as "Switch View" the date selection could be larger to make it easier to quickly switch between months and years.

Ability to search within each field on the asset view.

Listed below are a few desired enhancements: Order of fields in Add Asset windows to be customizable Add option to upload document within the Add Asset window when 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...

Read more

The asset type method makes training users very easy

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 a good reporting capability.

Good user interface and strong functionality. The reporting tools provide easy export to Excel, but lack in connectivity to other tools, such as PowerBI. The ability to manage multiple companies in a single web application is great, as is the ability to manage multiple capital projects and convert compelted projects into assets. Asset disposal is similarly easy, and they give you plenty of ability to tailor asset depreciation to accomodate any mistakes you may have in your asset history.

The biggest issue with Bloomberg is pricing based on number of assets. In an age when storage is dirt cheap, there's no excuse for arbitrary levels of pricing based on number of assets. If you have existing assets, expect to have to lose history or pay through the nose to store fully depreciated assets just to bring their records over. The other major limitation is that while reporting to Excel is terrific, reporting to other tools such as BI is non-existent. Bloomberg really needs to add support for connections to other reporting tools.

The software is easy to use but more importantly, it is flexible. It lets us change our minds about depreciation methods, combine different entities and forecasts depreciation out the entire life of the project. The data tools allow you to download key data points for any group of entities and analyze them without running additional reports.

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