• Does property type Q have depreciation limits?

    We have vehicles between 6,000 and 14,000 GVW and believe Property type Q is the correct selection.  

  • How do I update the sale price of a disposed item?

    We had sold one of our buildings back in July and now have found out that the sale price was different.  How do I update the sale price of a disposed item?

  • Partially disposing in Sage Fixed Assets

    Is it possible to dispose of an asset partially?  It is currently entered as a whole amount and currently being depreciated. If I can dispose of a portion of it due to a part of the whole being disposed of, that would be great but not sure if it can be…

  • Disposed Asset - restored

    We recently disposed an asset before the end of life in Sage. This transaction was later deleted as we decided to keep depreciating until the end of actual life. This has messed up the monthly depreciation amounts. Any suggestions to get it to depreciate…

  • How to retire fixed assets that are fully depreciated?

    I am working in 2018 Sage Fixed Assets software. I noticed we have lot of assets that are fully depreciated. There are some assets we want to remove from the system. Is retiring the asset the correct way of doing it in Sage? Also how to retire them or…

  • Assets are no longer depreciating and are not fully depreciated either?

    I have many assets that have 'no activity'.  They have been lumped together in my reports under a one line total.  I have run a current depreciation expense report and have them listed individually now.  But they are not fully depreciated.  There…

  • How to reset everything back to the beginning of the year

    We entering many many incorrect disposals and would like to reset everything back to the way it was before we started doing any work in the 2021 system.  All we have is a backup of the system at the end of 2020 before we rolled over to 2021.  Is it possible…

  • Solar Energy Panels- depreciation life

    We purchase an older building with a solar panel system on the roof. Using current FMV of system to create a separate asset how many years should we use for life IRS 5 years or useful life left of 18 years?   

  • How to fully depreciate an asset if it's still depreciating?

    I have a few assets that need to be fully depreciated the next time I run depreciation.  I still need to keep all of their prior/accum depreciation records as it currently is and show a large amt of depreciation taken (all of the remaining depreciation…

  • How do I reduce the acquisition value of an asset uploaded in March 2021 without having to reset back to March and starting over?

    Controller uploaded an incorrect amount and we have been depreciating monthly. Asset needs to be reduced from $40K to $3K, but I am not sure how to accomplish this without resetting back to March and re-depreciating each month again.

  • Leasehold Improvement (LHI) Estimated Life Changes

    Hello,

    Our firm has recently been notified that we need to change our LHI estimated life method for 2019-2021 capital assets from 39 years to 15 years with amortization 'catch up' in 2021?  How would I go about this process without affecting prior…

  • Is there a way to calculate PA and IL depreciation within Sage? Can we set up a separate book?

    Is there a way to calculate state specific depreciation for Pennsylvania and Illinois?  Can a separate book be set up for these states?  How do you tell sage what the depreciation rules are or does the software automatically calculate?

  • Tax Book Net Value

    I am being asked, "For the Tax Book, how is there a NBV but no Depreciation has been ran this year?" For the following item:

    BUILDING - Property Type R

    Tax Book:

    Placed in service: 10/01/1982

    Value: $889,038.09

    Depreciation Method: SL

    Life…

  • Current YTD Depreciation decreased on the Tax Workbook from August to September.

    I disposed of a auto on 09/07/2021. In the Tax Workbook on 08/31/2021 the Current YTD Depreciation on this auto was $740.92. When I disposed of the auto on 09/07/2021 the Current YTD Depreciation is $555.69. How did the depreciation decrease from Aug…

  • Merging Companies

    Has any come across this problem?

    I am trying to merge 4 Company Divisions into one company to get grand totals.

    It constantly tells me that I can not merge due to short years being deleted.

    First, this is false as all are the same and second, if I merge…

  • Inactive Asset Record

    I entered an asset record on 3/24/21.  Research found that no depreciation was accrued for March or on April's run, then on May it "caught up" with charges for Mar, Apr, and May.  No charge was made on the June or July depreciation run and…

  • Placed in Service Date

    How do you change the place in-date on multiple assets?

  • California Vehicle Depreciation Limits and Methods

    Hi,

    Does anyone know how to get Sage FAS to depreciation vehicles using the California limits and not the Federal limits?  I'm not taking 179.

    Thanks,
    Dave

  • No Acquisition Value

    I am relatively new to FAS, and I have been tasked with cleaning up our asset list. I have found a handful of assets that are missing the acquisition value. Some of these assets go back to as early as 2010. When updating the value, I am prompted with…

  • Assets with No Depreciation - In service data

    Good Morning,

    We have a number of assets marked as "no depreciation". Why is an in-service date needed for these assets if we are not depreciating it? Is there anyway to remove this or a different way to add the asset?

    Gabriela

  • How do I add a co asset no? when I added an asset manually and not uploaded.

    When I took over, they just showed me 'how' to run depreciation, and upload assets etc. they didn't know the ins and outs on how the system really worked.   I now added an asset manually by filling out the gen info etc.. and book info etc.  But…

  • How to identify the current Fiscal Period's asset activity?

    Hello,

    Our Company is fairly new to Sage Fixed Assets. We moved from Lawson to Sage and are finding some hiccups along the way. I had a current year asset last period that I needed to adjust because an Invoice came in after the asset was put up in the…

  • Reducing the value of an asset

    Hello,

    An asset was added in 2018 for $248K. Due to a settlement in our favor, the asset value needs reduced to about $100K. I know I would just change the acquisition value of the asset for each of the books, but how would I handle depreciation? I don…

  • Revaluation of Property Assets such land, houses

    Good day,

    Our company wants to add asset such a residential properties in Sage, however these assets are revaluation every year. How do we store these assets in such a way that we can record the original acquisition value and historic records of the values…

  • Why does Gain/Loss turn to 0 after Period close is run for month?

    So my user did a bunch of disposals for the month of May.  A few assets had a gain/loss from disposal.  She ran her depreciation and then Disposal report for May to verify all looked correct.  

    She proceeded with Period close for May.  The other day she went…