This is a question we get a lot in support from customers who are just starting to use the Sage Fixed Assets depreciation application.
This is something that can be done for all three types of entities: US Company, Gov/NP and Canadian Organization. Here we are discussing importing to a US company.
There are several things to keep in mind to successfully upload asset information into the Sage Fixed Assets depreciation application.
- The supported file formats are: CSV, XLS and XLSX.
- If you plan to import depreciation-related information, it will be deemed as a new asset import and will create new asset records upon a successful import.
- The critical depreciation fields that are required for this to work are:
- Property Yype (one for the whole asset)
- Place in Service date
- Acquired Value
- Depreciation Method
- Declining Balance %
- Estimated Life
If you are planning on importing depreciation methods of MACRS (MF, MT or MA), there is a declining balance % field that accompanies along with the method, but be aware that they do require separate columns. If the MA method is imported, not only is the declining balance % field required, but so is the 168% field of 30, 40, 50 or 100 (depending on the valid percentage for the period of the service date).
If you plan to import assets with a depreciation method that does not require a declining balance percentage, just leave it blank or enter 0. If using SB or AA, for example, this requires the use of the 168% field. See above for the related information.
The more information that is provided for the asset to identify it, the better. Find out more of what’s needed and how to avoid or fix common errors in our How to do a custom import Knowledgebase article
If you are looking to just update the existing general information on the assets, this can be accomplished by performing a custom export (including system number and the fields to be changed), then doing the custom import via the update asset import option.