SAP Tax Depreciation

SAP Tax Depreciation – Using Sage Fixed Assets

I’ve been in the trenches with you, experiencing it first hand.  Watching what takes months and weeks to extract, consolidate, reconcile, find accuracy errors, then repeating the extract, consolidate, reconcile efforts… I also understand that not only is it costly, but having changes made to the SAP fixed assets module, can take a lot of time and resources.  Time, that may not be on your side for quarterly estimates, property taxes, and year-end processes. Over the past 20 years, my larger clients who are using SAP for their ‘big data’ have struggled to keep up with the complexities of tax depreciation where their fixed assets are concerned.

Large data complexities often come, with larger businesses.  Multi-state and multi-locations within those states equates to more assets.  More fixed assets to manage typically brings additional asset activities.  Additional activities, almost always require more flexibility, control, and reporting functionality.  Fixed asset activities that constitute a more ‘flexible’ tax depreciation solution for fixed assets can include: 

  • Bonus depreciation rules and options
  • Mid-quarter conventions
  • Asset cost adjustments
  • 3115 changes for accounting methods
  • Asset Disposals – in particular, Like-kind Exchanges
  • Luxury Auto limitations
  • Tax Forms and Worksheets
  • Efficient reporting and exporting
  • Ability to control the data where necessary

My team and I have been working for years trying to find a solution to this problem.  We couldn’t.  So instead, we built one.  Most of the challenges with seamless integrations often times have failed.  This is true for many reasons… complexities of the database structure, the fixed asset system workflow, new version releases/updates, turn-over in resources, etc.  In addition, getting live batches to automatically push into another ‘stand-alone‘ system is a very tough battle to overcome.  And last, but not least, implementation time. 

Offering solution bundles for SAP users looking for tax depreciation: Sage Fixed Assets Premier Depreciation, first-time data conversion,  AssetFlow for SAP, and the Critical Field Updater.  If you are already using the Sage Fixed Assets solution for tax purposes, we have a smaller bundle that includes the integration (AssetFlow for SAP) and the critical field updater.