News November 8, 2017

MRI Software Announces New Fixed Asset Accounting Solution for Real Estate Sector

By Emily Wells

MRI Fixed Assets enables real estate owners and operators to reduce tax obligations, achieve compliance, and increase the ROI of their fixed assets

Solon, Ohio – November 8, 2017 – MRI Software, a global leader in real estate software solutions, today announced MRI Fixed Assets, a new fixed asset accounting solution for the real estate sector. MRI Fixed Assets is a a comprehensive solution for real estate owners and operators to better manage accounting, maximize tax benefits, improve compliance, and increase the ROI of their assets.

“Regulations for fixed asset accounting continue to grow more complex, and organizations with real estate interests need solutions that can automate and simplify compliance,” said Charles McDowell, Vice President of Commercial Solutions and Client Experience at MRI Software. “MRI Fixed Assets builds upon the proven history of our recent acquisition, Real Asset Management, to easily address these ever-changing requirements. Our solution enables compliance with common accounting and tax reporting standards, including US GAAP, SOX, Bill 198 and IFRS. And, because it is linked with our Version X Financials platform, it provides a modern, intuitive user experience that leverages the full power of MRI.”

MRI Fixed Assets allows organizations to manage, track and record all changes to an asset’s status, from its physical location to the history of how it has been used. The application readily enables depreciation forecasts, manages the valuation of assets, and reports depreciation in accordance with the unique requirements for particular asset types and regional differences around the world. MRI Fixed Assets includes annual updates to allowances and elections, catering for Bonus Depreciation and Section 179, and can be integrated with barcoding and other electronic readers to aid in inventory audits.

Available via MRI’s Version X platform, MRI Fixed Assets shares integrated data and common work processes with the core financial management platform, giving users the benefits of increased automation within a single, intuitive experience.  The solution is flexible and can be used in conjunction with other accounting and property management systems, providing real estate organizations the freedom to choose the right solutions for their business.

About MRI Software

MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

 

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