Every year the Sage Fixed Assets team strives to bring you features, enhancements, and updates in our products to improve your ability to bring value and efficiency to your organization. Partly driven by customer requests and partly by tax changes, 2019 was a busy year for the team.
Note: Most of the features described below have links to documents with more information. Bookmark this article to use as a reference to find information on your favorite features.
One of the first things you will notice after updating to Sage Fixed Assets 2019.1 this year is the fresh, modern user interface. You can compare the two versions below. See the comparison below.
Some useful information about the User Interface
The new Sage Fixed Assets user interface
The previous user interface
Customers have been requesting a feature to provide more flexibility for making changes to a large number of assets for some time. This significant addition of functionality to Sage Fixed Assets is a big win in 2019 for both the customers and the product. Bulk Edit is found in the top menu drop down for Depreciation and can be used for one, some, or all books.
Some useful information about Bulk Edit:
Additional Bulk Edit resources include:
The Tax Cuts and Jobs Acts (TCJA) introduced the Qualified Business Income (QBI) deduction under Code Section 199A, and several customers requested an efficient way to calculate the Unadjusted Basis Immediately after Acquisition (UBIA) 2.5% calculation. The Section 199A Report fills this need.
Some useful information about the Section 199A Report:
Additional Section 199A resources:
Tax depreciation methods RM and RH have been added to simplify the depreciation calculation on assets after switching to a longer life under ADS due to changes under the TCJA (Tax Cuts and Job Act)
Some useful information about RM and RH:
Additional RM and RH resources:
The most significant tax law update for 2019 was implementing the new IRS Safe Harbor rules for Luxury Autos and Light Trucks and Vans. See New Safe Harbor Rules for 100% Bonus on Luxury Autos.
To see a list of other improvements and updates in 2019, read the following articles:
2020 is going to be another big year for Sage Fixed Assets and our customers, maybe even better than 2019. As always, you can count on seeing the normal updates and enhancements that will improve the accuracy and efficiency of your work.
Some scheduled features and improvements for 2020 include:
While we cannot yet promise the timing or inclusion of all the of the features above, the SFA team realizes that these kinds of functionality, features, and value are what our customers expect from us. Stay tuned!