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.