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?

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…

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…

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…

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

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…

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…

I'm importing assets into SAGE and I keep getting the error Beginning Accumulated Depreciation can't be zero. Can someone help with this problem?

If the total cost of an asset includes the Use Tax. How do I separate the Use Tax for Personal Property return purposes?

Recently changed over to Sage Fixed Assets.  During internal audit it was noted that the useful life of assets changed on the import/opening balance date.  This has caused depreciation to be off.  Is there a way to recalculate depreciation on an asset to…

I have two assets that were placed in service in 2020 and the company was sold in 2020. When I depreciate - it is taking the whole amount and is not subjecting it to 280F(d)(7) luxury automobile limitations for TY20. Can you provide guidance on how to…

Hi 

I have a location using MF100 on their internal books.  They would like the asset to have a life of 12 years which is not currently an option.  Is there anyway to add a 12 yr life?  I know that accelerated methods are typically reserved for tax books…

Hello,

I'm working on converting from Lawson to Sage and have noticed that in our State book (Idaho doesn't allow bonus depreciation on autos) that in 1 company of ours the State book follows exactly MF200 and doesn't limit depreciation to the limitation…

Hello,

Our company is in the process of converting from Lawson to Sage and we aren't getting our autos to reconcile on life to date depreciation. The first year of depreciation reconciles in both systems because we take the 168 allowance it's the years…

I have entered a new asset with an in service date of 01/21/2021.  As of February 28, 2021 there is zero tax depreciation being calculated.  It has been entered with an MA200 depreciation method and168 Allowance % of 100.  All of our vehicles are entered…

I have several assets which were purchased as furnishing & fittings for a lodge in the process of being built.  As a result of COVID building came to a standstill and these assets have not yet been put into use.  How do I raise these assets without calculating…

Good morning,

We have been recently acquired thus several thing are happening. One of which is a revalue of assets, backdated to October 1, 2020. What would be the best way to continue running depreciation in 2021, knowing that values of assets will change…

What depreciation method in  FAS is the same as Straight-Line Ori Mid-Month (15)   Converting assets from Great Plains software into FAS from a new acquired company.

What depreciation method in FAS would be the same as Straight line remaining life?

In election year 2018, I am trying to reclassify assets from MACRS (31.5 years) to ADS (40 years). The "current through date" 12/2017. At that time, the asset has been depreciating for 27.16 years, and would be depreciating for another 4.3 there…

I have a user trying to dispose of an asset in beginning November without Sage taking depreciation for November.  Is there a way to do this?  We also use the period close feature so retiring at the end of October is not an option.  I'm assuming Sage is taking…

I have a question below that was asked of me.  Can someone help me understand why they would think we need to buy this many machines ?

The average age of most of the equipment is well over 7 years? And assuming we have ~40 machines total, wouldn’t that…

Hello, 

Everytime I have transfers within the company it always results in an error with the current YTD depreciation and overstates the monthly depreciation. I then back it up a month and re depreciate but then this gets rid of all of my prior throughs…

Hi, 

   I am working as a contractor to update assets in F/A as a result of an acquisition.  The topside depreciation is accounted for in the corporate ERP, but we need to push down this information to the asset subledgers in Sage.  We need to update the following…

The Depreciation expense report August YTD totals do not equal the depreciation this run amounts from January-August.  We didn't have any differences in the accumulated depreciation accounts, only the depreciation expense accounts.  Is there any reason…