• Accelerate depreciation on assets down to 3 years

    I am trying to accelerate a group of assets down to 3 years.  First - do I need to close my period before I run the new depreciation?  I have done the RV depreciation method for the internal book and changed the estimated life to 3 years.  I run the deprecation…

  • Remaining Value Method Asset with 3 months amortization Posted 2 months amortization the first month

    Hello everyone,

    We are using Sage Fixed Assets - Premier Depreciation V2022.0

    We also use this program for Amortization of Prepaid Assets.

    We have an Prepaid that was entered into FAS with the following Parameters:

    In Service Date = 7/1/2022

    Depreciation…

  • Change of Assets Accounts

    Good Afternoon,

    We have moved from Great Plains to MAS 500 and our asset accounts numbers have been changed due to this shift. We have almost 10,000 assets in FAS whose Account numbers number need to be changed .Can you please recommend how we handle…

  • Sage straight line depreciation not calculating correctly

    I have set up an asset on sage with straight line depreciation of 2%

    Cost price is £1,485.96, so depreciation should be £2.48 per month. However, when I enter NBV into sage of £1,218.49, it changes the depreciation to  £2.44

    But…

  • Asset Sale

    In May we capitalized an asset. In June we decided to sell to a customer instead.   I disposed at a gain on sale of the asset. However the disposal report is not showing the current accumulated depreciation we ran for May and June. Why?

  • Capitalized an asset too early

    Hi.  Last month I've capitalized an asset, but just found out it should not have been capitalized until a later month with additional cost.  All I need to do in the general ledger is to back out my journal entries from last month by putting the asset…

  • Merging Related Assets in FAS

    Hi everyone, I was wondering how all of you would handle this. Since taking over as the fixed asset accountant for my company, I've found multiple related assets with individual records that were incorrectly based on when we payed for the asset. Hypothetical…

  • Transferring Older Asset to Newer Company

    I am trying to transfer an asset with a place in service date in 2014 while the Company I am trying to transfer to was set up in 5/2020. I found through other questions the solution to this would be to change the companies start date to before the assets…

  • Need to edit an asset from prior year

    We have a security system that was set up as one lump sum asset last year.  I need to break it down into its components instead. For example, there are 15 security cameras that each need to be set up separately under the same asset. How do I accomplish…

  • Initial Year: Short Year MACRS Depreciation

    Hello,

    Thank you for any help in advance. We had a property acquired in October 2021 and we are trying to calculate short year initial year depreciation. I set up the company with a business start date of 10/2021 but when I run the mid quarter MACRS depreciation…

  • Assets depreciating too much

    We transferred assets from Redmoon to Sage. Once the transfer was complete, I verified that all of the information transferred over correctly. When I ran my first months depreciation in Sage, I had to do a 3 month catch-up. Most of the assets depreciation…

  • How to include foreign subsidiary in FAS( Issue of foreign currency/currency translations)

    Hello,

    We are looking into moving all our Companies( foreign based subsidiary located in UK) fixed assets into FAS by legal entity. We have come up with  issue of foreign currency.  I  wanted to find out if FAS can handle multiple currencies and possibly…

  • How does Sage Handle foreign entities transaction( foreign Currency transactions)

    Good Afternoon ,

    We have  some foreign based subsidiary located in UK .We are looking to move all our legal entities into FAS including foreign based subsidiary. In order to streamline process to make sure that SAGE can handle multiple currencies and possibly…

  • Can't find Bulk Edit

    I cannot do not have the Bulk Edit option under the Depreciation Menu. My version is 2021.1. What am I missing?

  • How to fix an asset that should be fully depreciated but still shows a Net Book Value.

    I am new to SAGE and was giving a task to fix our Internal balances to match what our other program has. We have some assets that should have been fully depreciated years ago, but are still showing a Net Book Value. I see the previous person before me…

  • Vehicle depreciation

    Vehicle was placed in service on 7/27/2018. In September 2021, I made some changes for 3 leasehold assets, depreciated all assets Tax back to June 2021, then depreciated all assets Tax to September 2021. The Vehicle Tax prior accum depreciation number…

  • Assets placed in Service in prior period/year not capitalized in FAS yet (FAS 2021.1)

    I have some assets in CIP that should have been capitalized in 2021.  is there a way of adding them to FAS with correct 2021 Placed in Service dates without messing up the 2021 balances and catching up on the depreciation expense in current month?  I am…

  • Amortization Adjustment

    Hello,

    We have Intangible with Value $2,100,000 and its accumulated amortization till September was $350,000 .We had booked impairment loss of that asset amount $1,7500,000 in September. Our FAS system is still calculating depreciation .We need to adjust…

  • G/L accum Act No & balance sheet

    After posting the depreciation expense to Sage 50, the amount for "G/L accum Act No" does not match the amount on my balance sheet (under property and equipment). Where could I look for the discrepancy?

  • 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…