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SAP to Sage Fixed Assets Automation

SAP Fixed Assets Tax Depreciation – Theres A Cure

Being in the fixed asset space for more than 16 years, I’ve seen a lot of challenges with fixed assets and how to get integration to just ‘work’ and not break every time there is a new version change to either systems.

In addition, large ERP solutions lack on federal Tax, AMT and State depreciation needs; especially when legislation changes are made.

The Sage Fixed Asset Depreciation (formerly Sage FAS) does a fantastic job at tackling those federal tax calculations as well as other major challenges ERP fixed asset modules lack:

  • Multi-search capabilities – more than just an SAP Main #, but wild card characters, easy queries for every field in Sage FAS
  • Bulk Disposals/Retirements – especially for industries that deal with store closures, refreshes, moves, etc.
  • Cost ADJUSTMENT true-ups – sure you can change the cost, but the system doesn’t true up that calculation leaving your asset either under or over depreciated at the end of its useful life
  • Tax forms and worksheets
  • Mid-quarter testing and calculation switches
  • the list goes on…

Trouble is and has always been – if an organization still insists on using SAP fixed assets for internal GAAP depreciation, getting the data out of SAP and into FAS can be a total nightmare.  Disposals and processing adjustments or 3115 changes can be a manual process and take a lot of time – not to mention room for human error.

Digging in deep and rolling up our sleeves here at FAC, LLC we’ve come up with a handful of utilities to assist with this process.  The best benefits?  Automated. Error proof. Doesn’t break when there are version releases to SAP or Sage Fixed Assets.

Finally a solution for large companies with a lot of fixed assets and a lot of activities.

Inquire at: angie@fixedassetconsulting.com

Fixed Assets: A Look Back At 2017

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.