• Help with some items 2015.1

    I have a team that is going to meet with me tomorrow to discuss the following items with Support unless I get them from other sources. I went to knowledge base, so I figured this was the next step in the process. Here are the items we could use some help…
  • What is the best method for setting a period close after the actual period close date?

    Hello, I forgot to set the period close date when we closed our fiscal year. We have since run four months of depreciation, with no "reset date" that will work for resetting, running a period close, and then re-running depreciation for the affected…
  • Section 179D Deduction Calculation In Sage FA 2016

    I'm having a disagreement with my company's internal tax accountant. She is claiming that Sage FA is not treating the 179D deduction for the HVAC unit in a new building. From what I can see & have rechecked Sage is calculating depreciation correctly…
  • Luxury auto calcs wrong in years subsequent to a section 168 bonus election

    Bonus Depreciation on luxury autos. I have posted on this site regarding this issue before yet after 3 years, I still cannot get a straight answer. For a luxury auto placed in service in years with 50% bonus depreciation, the allowable section 168 bonus…
  • Straight Line Calculation

    FormerMember
    FormerMember
    Is there somewhere that I can find details on the formulas used by sage to calculate deprecation? We are moving from Lawson Fixed Assets to Sage Fixed Assets and our calculations are not coming out correctly. Thanks
  • Tax Depreciation for Autos With Bonus

    I have 3 questions related to this topic. Our company's tax advisor says that for luxury automobiles that have 100% Bonus (e.g. $18,000 for a car purchased in '18), they should have no more tax depreciation on them till year 7. The way Sage software…
  • Beginning YTD and Year-End Cutover

    Fiscal year end for a company is 12/31/2019. They've been keeping their books in another system. They want to import assets with depreciation already taken through 12/31/2019. Is it necessary to import into the Beginning YTD field? The documentation…
  • Over - depreciated assets

    Hi - I have two questions. First, back in 10/31/19, we changed the estimated lives of all assets that had either 30 years or 27.5 years to 40 years in the tax books. At that time, we made the change using the "current thru date" not realizing that the…
  • question about updating asset records for purchase accounting

    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…
  • Transfers Always Result in Having to Re-Depreciate Whole Year

    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…
  • Auto Depreciation not reconciling with our Lawson #s

    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…
  • Depreciation rates

    Hello! We use the Sage Premier product. I'm wondering if there is any way to see what rates are being used for depreciation for each method? I've not seen it in a table. I assume it may come with the updates and be in the software itself. Is there a way…
  • 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…
  • 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…
  • Sage Fixed Assets Straight Line Full Month Calculation for First Month

    Hello, I have an asset that is doing more than just one month's depreciation at straight line full month. It's doubling the amount it should be. Is there maybe a setting that should be corrected to calculate properly for our internal book or do we need…
  • 52/53 Weeks New Assets Depreciation

    Hi, If a 52/53 week fiscal year end on 5/28/2022 for fiscal year 2022, how would Sage handles fiscal year 2023 new assets placed in service on 5/31/2022? When adding these assets after running fiscal year 2022 depreciation, these assets will include…
  • catching up depreciation

    Hello, I have multiple fixed assets that were setup with 7 year useful life on 04/30/2017. We caught these this month and realized this group of assets should have had a five year useful life - and therefore already fully depreciated. What changes should…