This session looks at the Fixed Assets ledger that available in Sage 50 Accounts. You'll learn how to:
- Add records, including the option to import
- The depreciation methods
- How to process depreciation as part of the month end process
This session has now taken place but a recording is available:
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Slides from this presentation:
Sage 50 Accounts - Fixed Assets and depreciation - 202212 - print friendly.pdf
Sage 50 Accounts - Fixed Assets and depreciation - 202212.pdf
Recent Q&A:
| Question | Answer |
| Is it therefore not possible to use the module as a fixed asset register if the asset disappears when disposed of? | Disposal is used when you sell an item so the asset would no longer belong to you as an asset |
| Is there a record or report of overall asset movements during the year? | You could run a Nominal Activity report for your selected Asset and Depreciation nominal codes, or the audit trail report can be filtered by the reference DEPREC to show any automatic depreciation postings. |
| The 25% straight line method works for setting up new assets (if that's in line with your policy), but if I was to add current NBV's which I've already posted manual depreciation postings for, and I have say 15 months remaining. How would I set this up? I'm not currently using the Fixed Asset element, but I'd like to add my current Fixed Assets to it. | If you are using the straight line depreciation method then you would just put in the current book value. The depreciation will continue to be processed at 25% on the remaining value of the asset. Any previous depreciation prior to using the module will need to be posted manually. at the end of the 15 months if there is a balance you would need to work out if disposal is required other wise it will keep posting until the value is 0. Once you have created your fixed asset record, make sure your book value is the book value at the point of you creating the record. Depreciation will be applied from the first month end after the asset record is created, meaning you can't backdate depreciation from the start of the financial year. |