Sage Fixed Assets v2018

Here is the rundown on the new version release of Sage Fixed Assets, v2018. Scheduled to be available for download to current Sage Business Care customers and new purchases next week (week of Oct. 16th).

There are 4 major product enhancements to the fixed asset modules.  Most of them pertain to the Depreciation module.  One major update affects the Sage Fixed Asset Inventory solution that we have all been waiting for. Yes, it’s pretty darn exciting!

1. Updates to the 168 Allowance for the AMT book.  You don’t have to wait until the new tax release comes out to update your AMT book to take Bonus (where applicable). This means the bulk change through the Section 168 Switch allows you to bulk change the methods on assets in the AMT book.  In addition, the AMT book now follows compliance rules and updates are now defaulting to your new asset entry in the AMT depreciation book after you enter your asset in the Tax book.  This is extremely helpful to those using Sage FAS for their fixed asset Tax, State, and AMT sub-ledger.  Most importantly, if you have a large number of assets.

2. Import Multiple Assets.  Let me point out that this is for the Images tab – you could always import multiple assets into your Sage Fixed Asset solution.  With version 2018 you can now add multi images at once, and link to multiple assets at one time.  Now more simplified.  Much better workflow when ‘attaching’ images and PDF documents into the depreciation system.  In all versions leading up to v2018, you had to attach one at a time and the management was a bit extraneous.  A perfect solution for invoice attachments that have multiple assets on it.

3. Display ‘Depreciation This Run’ information in the Asset List and Asset Detail screens.  This means you don’t have to run the Depreciation Expense report to obtain this information.  Keep in mind, however, this is only for your current reporting period.  Great for time and efficiency when analyzing your data – without having to process a report.

Have you installed v2017.1?  This new enhancement will make much more sense if you have.  In v2017.1 you were given the ability to ‘manage’ your Asset List View by adding book information!  One book at a time, but you have to start somewhere!  This is an INCREDIBLE product enhancement in the Depreciation module.  I myself, use it all the time when processing client data.

4. Sage Fixed Asset Inventory – the use of Mobile Apps technology for bar code scanning!  Can Sage get a hip-hip-hooray!?  This means that you, as a customer, no longer have to purchase expensive and heavy bar code scanning equipment to conduct your physical inventories.  Works with Android tablet or phone ONLY (for now).  No release date for iPhone support, yet. This is critical for those with multi-locations or international locations because transferring of data and equipment to conduct inventories is no longer needed or a challenge!  One other amazing revelation – you no longer have to connect to the laptop to ‘sych’ data when using your Mobile technology!

NOTE: It is recommended that in more rugged environments, you should still utilize the more industrial scanning equipment.  For example, phones break when dropped on a warehouse floor or from 20 feet up.

I give kudos to Sage Software’s Fixed Assets new upcoming release of v2018.  I look forward to the enhancements to come, and their continued efforts to keep one of the best fixed asset management solutions out there alive and current.

More information on the Sage Fixed Asset solutions and services provided, visit us at Fixed Asset Software.

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AssetFlow Web Portal For Fixed Asset Accounting

Fixed Asset Consulting, LLC launches new online platform to simplify and centralize fixed asset management for companies with multiple locations or users.

 

EUGENE, OREGON – September 06, 2017Fixed Asset Consulting, LLC, a firm led by nationally recognized fixed asset expert Angie Chase (formerly Bolton-Lyons), has announced the launch of AssetFlow. AssetFlow is a web portal for companies with multiple offices and users that want to simplify and take control of their fixed asset management process. The web-based platform allows customers to continue using their existing on-premises asset accounting software while leveraging a web portal to view, manage, and consolidate their data in a single, centralized location. The AssetFlow portal is now live and available to customers on a subscription basis.

AssetFlow Web Portal Streamlines Fixed Asset Accounting >>

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Critical Field Updater Now Available for Standard (Sybase)

Critical Field Updater: Sybase Version Now Available

After years of internal use and some serious client testing, a new version of FAC’s CFU is available with additional functionality and now includes a Standard (Sybase) version of the Sage Fixed Assets depreciation solution.  This means that clients no longer have to use the Premier SQL version in order to benefit from the CFU.

Added Functionality Includes:

  • Automatic import of your data sheet once selected through the browse function
  • Only assets with ‘errors’ are flagged with in red after validation process
  • Support email link exists for quick support
  • Additional customization is available
  • Ability to edit data within the user interface
  • Updated to work with v2017.1 of the Sage Fixed Asset Depreciation products

This utility allows the end-users the capability to update depreciation fields across all or selected depreciation books, globally.

Contact us for more information or questions @ (541) 338-7898.

NOTE: This product is only supported through Fixed Asset Consulting, Llc; where developed.

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Sage Fixed Assets v2016.1 Release

Sage Fixed Assets v2016.1 Software Release

Released early February of 2016, Sage Software Fixed Assets (formerly Sage FAS) has the following updates for the Depreciation module for all active support plan members.

Need to upgrade or renew your support?  Call (541) 338-7898 or email us at angie.bolton@swktech.com.

With the passage of the Protecting Americans from Tax Hikes (PATH) Act of 2015 the following changes has occurred in the Tax code:

  1. The 168 Bonus Allowance:
    • Extend from 2015 through 2019 (with an additional year for certain property with a longer production period)
    • Allowance of 50% for property placed in service 2015-2017. Reducing to 40% for 2018 and 30% for 2019
    • Modify to include qualified improvement property
    • Modify to permit certain trees, vines, and plants bearing fruits or nuts to be eligible for bonus depreciation when planted/grafted instead of when placed in service
  2. Section 179 of $500,000
    • Extend the 2010-2014 expense amount of $500,000 permanently
    • Extend the qualified real property expensing of up to $250,000 through 2015; the $250,000 cap is eliminated in 2016 and thereafter
    • Start indexing the expense limitation and investment threshold for inflation in 2016 (rounding to the nearest $10,000)
    • Air conditioning and heating units placed in service in 2016 and later are eligible for expensing
  3. 15-year depreciable life for qualified leasehold improvements; qualified restaurant buildings and qualified retail improvements. Extend permanently.
  4. Race horses – 3-year depreciable life if horse is 2 years or older Extend for 2 years – through 2016.
  5. Motorsports Complexes – 7 depreciable year life Extend for 2 years – through 2016.
  6. Shorter depreciable lives for property on an Indian Reservation Extend for 2 years – through 2016. And allow election out of the shorter lives.
  7. Empowerment zone tax incentives Extend for 2 years – through 2016.
  8. Enterprise zone businesses can deduct an additional $35,000 in Section 179 expense on zone property.
  9. Section 179D – Energy efficient commercial buildings deduction Extend for 2 years – through 2016.
  10. Section 179E – Election to Expense Mine Safety Equipment Extend for 2 years – through 2016.

 

User Management

Sage Fixed Assets 2016.1 also introduces a new user management system for customers with multiple licenses, which enables them to easily activate and deactivate users from one central interface. This will not only help these customers to manage their users better, it also ensure that only authorized users can access the system. This feature applies to Depreciation and Tracking (Network and Premier versions). Single user systems are not affected by this change.

Additional Depreciation Enhancements:

  1. The Placed-in-service Date and Disposal Date have been added to the Disposal Worksheet. To see the change on an existing disposal:
    1. On the Asset Detail view of the Disposed Asset, go to the Transactions tab, and click View Transaction.
    2. On the Asset Disposal dialog, the Disposal Worksheet button will be available at the bottom.

 

Old Version of Sage Fixed Assets

FAS Version Data Woes

Formerly known as Sage FAS – Sage Fixed Assets (SFAS) has been around… well, for years!  We are talking back in the DOS days everyone.

If you are on version 2010, v2011 or even FAS version release 2001 (don’t laugh, I just had one) – no need to worry, you have a couple choice.

  • Version by Version Install: If you can find all of your old CD’s/DVDs, etc. (sorry, floppys wont work anymore) you can take your data through version to version.  You can’t skip too many versions between because the data schema has changed.   So before you go doing this, make sure you have them all.
    • NOTE: Sage Fixed Assets division is only supporting v2012.1.  This means that this in the only version currently available for download on the Support Center.
  • Export it all Out: you can export all of your data out, book by book, then import it back into a brand new company in the newly installed version of SFAS (currently v2014.1 as of 09/09/2014 posting).
    • NOTE: you will need to perform a little formatting on the data in order to import it back into SFAS.
  • Data Schema Upgrade Services: available from Fixed Asset Consulting, LLC at a reasonable rate.  You will need one of the following for data schema upgrades: a recent .zip or SFAS .bbk (proprietary backup within the Sage Fixed Asset application) or – if you can’t open your old version of Sage Fixed Assets, you can zip up the database files.
    • NOTE: there are three data files that support an old SFAS database: .db; .log; .sav

If you are choosing either Export it all Out or Data Schema Upgrade Services – the best and cleanest way to install the latest version of SFAS you will want to completely uninstall your current old version from every workstation and/or server.  Then perform a clean install of the latest version.  If you don’t, the SFAS will find the old files and ‘think’ that you are still stuck in the old version – then the new one will not open.

May the fixed asset forces be with you!