To get the most out of your fixed assets, you have to account for everything, including fixed assets before they even become fixed assets. Think construction-in-progress: projects being built, upgraded, renovated, or accumulated prior to being put in service, such as multicomponent equipment, machinery upgrades, and building renovations. You need Sage Fixed Assets—Planning!
Acronyms for regulatory agencies, laws, and even forms run the gamut : IRS, IFRS, GAAP, SOX, GASB, CCA, T2S8—but your compliance can’t. Even the most minute changes in financial and tax rules, including exemptions, can mean the difference between major penalties and major cost savings. And the detailed administrative tasks required to manage fixed assets effectively can overwhelm an organization of any size. Whether you’re a business entity, government office, or nonprofit organization, you need Sage Fixed Assets—Depreciation.
You may already know how critical it is to have accurate inventory management of your fixed assets ; without it, little can ensure the accuracy and reliability of your fixed-asset accounting. However, the task of managing a physical inventory of fixed assets can seem daunting, and that’s where Sage Fixed Assets—Tracking can help !
Sage Fixed Assets—Planning is designed to do help you account for everything, and it allows you to manage as many projects as you need, regardless of the type or size. And when the assets are ready for use, they can be easily created in Sage Fixed Assets—Depreciation.
To help you easily manage and report on your construction in progress projects, Sage Fixed Assets—Planning has multiple levels of detail tracking including over 45 user-defined fields, as well as numerous built-in reports such as project status and actual vs. budget variance. In addition, you can easily manage both capitalized and expensed assets and get key project information at a glance with “Project Snapshot.”
Thanks to an intuitive user interface, Sage Fixed Assets—Depreciation gives you the flexibility to manage the entire fixed-asset lifecycle—from acquisition to transfers and disposals—for both public and private organizations. And with advanced fixed-asset accounting and reporting features, Sage Fixed Assets—Depreciation can help you prepare your year-end financials, allocate costs, calculate depreciation, eliminate redundant data entry, and store digital images of key asset records such as purchase orders, warranty information, and insurance records.
A comprehensive solution, Sage Fixed Assets—Depreciation offers more than 50 depreciation methods including MACRS 150 percent and 200 percent (formulas and tables), ACRS, Straight-Line, Modified Straight-Line (formulas and tables), Declining Balance, Sum-of-the-Years-Digits, as well as user-defined. It helps ensure compliance with government regulations, integrates with popular general ledger systems, and comes with more than 30 ready-to-use reports, including year-end financial statements, fileable U.S. IRS tax forms and worksheets, as well as Schedule 8 Capital Cost Allowances for Canadian T2 Corporation Income Tax Returns. Sage Fixed Assets—Depreciation also includes the ability to allocate cost and depreciation for an individual asset or groups of assets to more than one funding source, decision-making tools to ensure GASB 34/35 compliance, and the ability to create budgetary books for asset budgeting projections.
Easy-to-use “wizards” walk you through every step of the inventory tracking process, helping to eliminate lost or stolen assets and reduce insurance and, if applicable, tax overpayments. Using state-of-the-art Microsoft® Windows® Mobile barcode readers, you can conduct multiple inventories concurrently at multiple sites and reconcile data at one central location. And, since Sage Fixed Assets—Tracking comes with over 40 fully customizable fields, you can control data entry with notes and images to clearly describe each asset record.
Better still, Sage Fixed Assets—Tracking integrates seamlessly with Sage Fixed Assets—Depreciation, so your information is in a single database—eliminating double entry as well as ensuring your asset data is never out of sync due to departments not sharing information.
Simply put, with automated inventory functionality and built-in reconciliation capabilities, Sage Fixed Assets—Tracking makes keeping track of the items you use to run your organization a whole lot easier.
Gary Kolanda, Corporate Controller
Medrobotics Corporation
