Below are brief descriptions from of each of the three editions of Promptu and their respective use. For more information and a demo of each edition, please click on the product’s link:
The main function of Promptu is to help business accountant to transition successfully and smoothly from the old GAAP (Generally Accepted Accounting Principals) method of calculating the depreciation of fixed assets to the newly introduced IFRS (International Finance Reporting Standards) method where the amortization is calculated based on the amortization of the asset components rather than the entire asset.
Promptu Manager: Promptu Manager deals with the depreciation of fixed assets on the Asset-Level only, therefore it does not deal with the Component-Level that concerns IFRS reporting requirements. Nevertheless, Promptu Manager is the richest in features when it comes to manipulating the assets. For the list of features and a demo you can check the table below or click here.
Promptu IFRS: Promptu IFRS is excellent for businesses who decide to follow the IFRS reporting requirements from day one, therefore the will start adding components and calculating their amortization based on the Component-Level only. For the list of features and a demo you can check the table below or click here.
Promptu Ultimate Plus: Ultimate Plus combines the Asset-Level depreciation calculations with the Component-Level and calculates them side by side, therefore businesses can transition smoothly between the two standards and ensure all components and assets are accounted for. For the list of features and a demo you can check the table below or click here.
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