SOURCE: Best Software

May 11, 2005 09:00 ET

Best Software Ships FAS Construction in Progress Accounting Version 2.0

New Version Helps Companies Control and Streamline Capital Asset Accounting, Features New Project Snapshot and Transaction Capabilities

HERNDON, VA -- (MARKET WIRE) -- May 11, 2005 -- Best Software today announced general availability of FAS Construction in Progress Accounting version 2.0, the latest version of its product for small and mid-sized businesses (SMBs) and organizations, as well as small enterprises, that need to better control their capital budgets and streamline capital asset accounting processes. Accumulating expenses and tracking details about fixed assets that are built or assembled before being placed into service, FAS Construction in Progress Accounting 2.0 includes enhancements that improve security and make the product even easier to use, while providing more detailed reporting for tracking projects. Fixed assets can be automatically moved from FAS Construction in Progress Accounting to Best Software's FAS Asset Accounting solution upon completion.

"Accurate tracking of construction in progress projects is a vital aspect of solid business management, and in today's financial environment has never been more important," said Chris Donie, VP and general manager of Best Software's FAS Solutions. "The latest release of FAS Construction in Progress Accounting delivers additional features to an outstanding product, and provides Best Software customers with an industry-leading solution to manage the construction of fixed assets."

The new Project Snapshot feature reveals the exact status of projects instantly, providing a variety of charts and graphs that display a project's status. Additional features aimed at giving customers more control include improved asset creation capabilities, with the addition of more fields shared between FAS Construction in Progress Accounting and FAS Asset Accounting, and an enhanced security system, allowing users to quickly define who has access to each project and which tasks each person can perform.

Pending and split transaction capabilities improve FAS Construction in Progress Accounting's flexibility. Users can now import an invoice and assign it to an asset later, and can quickly and easily spread a single invoice across several fixed assets evenly or in varying amounts. Additionally, a new import wizard offers greater flexibility to easily import purchase order or invoice data, even across multiple projects.

With multiple levels of detail tracking and built-in reports, FAS Construction in Progress Accounting also enables companies to monitor actual vs. budget spending, track project completion, and easily access project information. Using FAS Construction in Progress Accounting, small and mid-sized businesses and organizations can:

--  Import transaction details from spreadsheets or other accounting
    systems;
--  Manage unlimited projects of any type or size, up to thousands of
    individual components;
--  Accumulate and summarize numerous purchase orders, invoices, receipts,
    and tasks;
--  Manage both capitalized and expensed assets for project tracking.
    
"We recently purchased a new building, and FAS Construction in Progress Accounting was instrumental in helping us track the associated expenditures as we underwent a complete renovation," said Stefanie Daughters, assistant controller at AGA Medical Corporation, a Golden Valley, Minn.-based corporation specializing in the development and manufacture of innovative medical devices for use in cardiovascular applications. "I look forward to receiving the new version, so we can take advantage of the enhanced security and other features."

FAS Construction in Progress Accounting and FAS Asset Accounting are part of Best Software's award-winning FAS line of fixed asset management products, which also includes FAS Asset Inventory and FAS Report Writer, as well as versions specifically for nonprofit organizations and government entities, FAS Nonprofit and FAS Gov, respectively. FAS Asset Accounting delivers advanced fixed asset accounting, depreciation, and reporting for any business needing effective asset management tools in integrated accounting environments.

FAS Construction in Progress Accounting and FAS Asset Accounting are part of Best Software's award-winning FAS line of fixed asset management products, which also includes FAS Asset Inventory and FAS Report Writer, as well as FAS Nonprofit and FAS Gov, designed specifically for nonprofit organizations and government entities. FAS Asset Accounting delivers advanced fixed asset accounting, depreciation, and reporting for any business needing effective asset management tools in integrated accounting environments. FAS software integrates as part of a complete end-to-end series of accounting and operations management software from Best Software, and can also integrate with many other accounting systems.

For more information about FAS fixed asset management solutions from Best Software, please contact (800) 368-2405, or visit www.bestsoftware.com/FAS.

About Best Software/The Sage Group plc

Best Software offers leading business management products and services that support the needs, challenges and dreams of more than 2.4 million small and mid-sized customers in North America. Its parent company, The Sage Group plc (London: SGE.L), supports 4.5 million customers worldwide. For more than 25 years, Best Software has delivered easy-to-use, scalable and customizable applications through its portfolio of leading brands, including Abra, ACCPAC, ACT!, BusinessWorks, CPASoftware, FAS, MAS 90, MAS 200, MAS 500, MIP, Peachtree, SalesLogix, and Timberline Office, among many others. For more information, please visit the Web site at www.bestsoftware.com/moreinfo or call (866) 308-BEST.

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