Basic Sage Fixed Assets - Depreciation Anytime Learning Guide SAGE LEARNING SERVICES MARCH Certified Course Curriculum

Transcription

1 Basic Sage Fixed Assets - Depreciation Anytime Learning Guide SAGE LEARNING SERVICES MARCH Certified Course Curriculum

2 Notice Sage has made every effort to ensure this manual is correct and accurate, but reserves the right to make changes without notice at its sole discretion at any time. Sage makes no warranties (expressed or implied) or representations with respect to the information contained herein; and Sage shall not be liable for damages, resulting from any errors or omissions herein or from the use of information contained in this manual. Sage, Inc Dulles Corner Boulevard Suite 700 Herndon, VA 20171

3 Share your thoughts with your peers! Thank you for taking this class with us. We're sure you enjoyed the class and gained valuable knowledge towards using your Sage application. We invite you to provide a quote for us to share with your peers. Thanks again and we hope to see you again soon. Class Name: Instructor / Consultant: Approval for Final Content By signing below, you confirm your signature represents that you are an authorized person to grant this approval on behalf of the company listed below and authorizes Sage to reproduce, publish, and distribute the approved content in whole or in part, including use and reproduction of quotations and other information from the approved content, as well as logos for any marketing or advertising purposes in any medium including but not limited to printed testimonial pieces, as content in newsletters, public relations pieces, and on the Sage Web site, without remuneration. Signature Customer Name and title (please print clearly) Company name (please print clearly) Date Thank you for sharing your success with us! Send to FixedAssetPromos@sage.com

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5 Table of Contents Introduction About This Manual Lesson 1: Workbook Conventions Lesson 2: Restoring the Training data Section 1 The Sage Fixed Assets-Depreciation Interface Lesson 1: Asset List View Go Field Group Field Total Assets in a Group Changing Column Order Freezing and Unfreezing Columns Sorting Temporarily Selecting All Assets in Asset List View Printing the Asset List View Exporting the Asset List View to Excel Modifying the Display of the Navigation Pane Modifying the Display of the Function Buttons Lesson 2: The Asset Detail View The Main Tab General Information (Descriptive) Fields on the Main Tab Book Information Fields on the Main Tab Asset Tabs Switching between Asset List and Asset Detail Views The Navigation Pane (Tasks) Section 2 Working With Assets Lesson 1: Adding Assets General Information Fields General Information Book Information The Beginning Fields Saving the Asset Lesson 2: Using the Notes Tab Lesson 3: Replicating Assets Section 3 Disposing of Assets Lesson 1: Disposing of an Asset Disposal Worksheet Lesson 2: The Disposal Report The Report Columns Lesson 3: Reversing (Cancelling) Disposals Section 4 Calculating Depreciation Lesson 1: Depreciating Assets Monthly Obtaining Monthly Depreciation Figures Lesson 2: The Depreciation Expense Report Interpreting the Depreciation Expense Report Basic Sage Fixed Assets-Depreciation TOC-1

6 Table of Contents Lesson 3: General Ledger Posting Report Interpreting the General Ledger Posting Report Lesson 4: Depreciation Calculations Fields Section 5 Customizing Your System Lesson 1: Database Concepts The Database The Company The Asset Group The Individual Asset Sage Fixed Assets-Depreciation Database Configurations Lesson 2: Creating a Database (Sage Fixed Assets-Depreciation) Sybase Users Only: Lesson 3: Creating a Company Creating a New Company The Book Defaults Tab Contact Information Tab The Notes Tab Using Copy Setup Lesson 4: Editing Company Settings Using Copy Setup after a company has been created Lesson 5: Customizing Fields General Information vs. Book Information fields Lesson 6: Creating SmartLists List Manager window selections SmartList Report SmartList Report Sections Sample SmartList Report Appendix Section 1 Check Your Knowledge (Answers) Section 1 Apply What You Have Learned (Answers) Section 2 Check Your Knowledge (Answers) Section 3 Check Your Knowledge (Answers) Section 3 Check Apply What You Have Learned (Answers) Section 4 Check Your Knowledge (Answers) Section 4 Apply What You Have Learned (Answers) Section 5 Check Your Knowledge (Answers) Section 5Apply What You Have Learned (Answers) TOC-2 Basic Sage Fixed Assets-Depreciation

7 Basic Sage Fixed Assets-Depreciation Introduction: About This Course Introduction About This Manual Congratulations on your purchase of Sage Fixed Assets! Sage Fixed Assets is a powerful and effective asset management solution. With its built in depreciation rules, detailed asset tracking, flexible grouping and sorting, ready-to-use reports, and financial system integration capabilities, Sage Fixed Assets is ready to go to work for you! During this training course, you are introduced to key features of Sage Fixed Assets. Students are encouraged to supplement what is learned in class by becoming familiar with the Sage Fixed Assets User s Guide and Depreciation Fundamentals. Not all Sage Fixed Assets-Depreciation features are covered in this course. Information about this product and the entire Sage product line is available by visiting us at: Description: This section describes conventions used in Sage Fixed Assets manuals. Objectives: At the completion of this section, you will be able to: Identify, define, and use the Windows and Training Manual Conventions Restore the Training data to use for this class 2012 Sage Software, Inc. 1

8 Introduction: About This Course Basic Sage Fixed Assets-Depreciation Lesson 1: Workbook Conventions Throughout this workbook visual cues are used to aid your understanding of the material presented. Besides the numerous screenshots of Sage Fixed Assets-Depreciation to help you recognize the software, here is a quick look at some common cues and a brief description of what kind of material you can expect to follow them. This symbol indicates the start of a sequence of steps to follow. 1. This number indicates the first step in performing an activity action. 2. This number and the following numbers indicate subsequent sequential steps added until the end of the action. This bullet indicates listed contents. TIP: Tips provide expert advice or time-saving measures about a certain topic or feature. NOTE: Notes require your attention. They provide additional details about Sage Fixed Assets- Depreciation features, background information, and procedural direction. WARNING: Warnings are provided to point out possible consequences of performing a specific action. There are often several ways to initiate an action in the Sage Fixed Assets-Depreciation software. We will concentrate on the ways that are new in the software and in the following order: 1. Beginning with actions initiated from a selection in the Tasks list. 2. If an action cannot be initiated from a choice there, we will demonstrate the choice from the context menus available with a right-mouse click. 3. If the action cannot be initiated there, we will demonstrate the action found on the System Administration page. 4. Finally, if an action can only be initiated by a selection in the menus found in the menu bar, we will show that Sage Software, Inc.

9 Basic Sage Fixed Assets-Depreciation Introduction: About This Course Lesson 2: Restoring the Training data You will need to restore the Training data in order to duplicate the examples in this manual and do the Apply What You Have Learned exercises at the end of the sections. To restore a company: 1. Select System Administration in the Function buttons. The system will display the System Administration working area. 2. Click Restore Data in the Manage Data section Sage Software, Inc. 3

10 Introduction: About This Course Basic Sage Fixed Assets-Depreciation NOTE: The Premier version of the software will only offer Backup and Restore in the Manage Data section since all other database operations must be done by a Database Administrator. The system displays the Restore - Select Companies dialog. 3. Click the Browse button. The file open dialog is displayed. 4. Use the Look in and Name fields to browse to the Training folder Sage Software, Inc.

11 Basic Sage Fixed Assets-Depreciation Introduction: About This Course 5. Select 2011 FYE Training Backup.bbk in the Training folder. 6. Click Open. The Restore - Select Companies dialog is displayed with the backup file name complete and a list of all the companies in the backup Sage Software, Inc. 5

12 Introduction: About This Course Basic Sage Fixed Assets-Depreciation 7. Click on Westfields Bakery - Training in the Companies found in the backup file section. 8. Click Next. The system displays the Restore - Choose Destination dialog 9. Click Next. The Restore - Purge History dialog is displayed Sage Software, Inc.

13 Basic Sage Fixed Assets-Depreciation Introduction: About This Course 10. Select the Do Not Purge option to keep all the sample history data available for viewing. 11. Click Restore. A status box displays the progress of the restore. When the restore process has been completed, the system will ask if you would like to make another restore. 12. Click No. Any references to the Training database in this training material can now be replaced with a reference to the <Default> database. These instructions were necessary to make the class available to follow by Sage Fixed Assets-Premier Depreciation uses as well as Sage Fixed Assets-Depreciation users Sage Software, Inc. 7

14 Introduction: About This Course Basic Sage Fixed Assets-Depreciation Sage Software, Inc.

15 Basic Sage Fixed Assets-Depreciation Section 1: The Sage Fixed Assets Interface Section 1 The Sage Fixed Assets- Depreciation Interface Description: In this section, students are provided an overview of the screens and menus available in Sage Fixed Assets-Depreciation. This section teaches the skills necessary to maneuver effectively through the software. Objectives: By the end of this section, you will be able to: Understand the Asset List View and its Features Understand the Asset Detail View and its Features Switching Between the Asset List View and Asset Detail View Recognize the different Tasks Lists 2012 Sage Software, Inc. 9

16 Section 1: The Sage Fixed Assets Interface Basic Sage Fixed Assets-Depreciation Lesson 1: Asset List View The Asset List View provides a view of General Information that helps identify all assets in a group. At the top of the Asset List section is the name of the open Company and the version of Sage Fixed Assets-Depreciation being used. Sage Fixed Assets-Depreciation will only open one company at a time. Go Field In Asset List view, the Go field allows you to type in a specific asset number to select that asset in the Asset List view.the Go Field can be used to search using either the System Number or Asset ID number, depending on the current selection in Preferences. To use the Go field: 1. With the <All FAS Assets> group shown, type System Number 20 in the Go field and press Enter or click the Go button Sage Software, Inc.

17 Basic Sage Fixed Assets-Depreciation Section 1: The Sage Fixed Assets Interface Notice that asset number 20 is now highlighted in the Asset List view. If asset 20 is not displayed in the Asset List window before Go is entered, the window will adjust to make it display. If a number is entered in the Go field that is not in the current group, a message will display indicating that the number was not found in the current group. NOTE: The Go field has the following characteristics: The primary purpose of the Go field is to search for assets. The Go field is accessible in both the Asset List and Asset Detail view. The Go field will only search for a match in the current group or most recently viewed group in the Asset List view. Group Field The Group Field identifies the title of the group of assets displayed. The Group field is used to select a specific group to view from a list of available groups. An asset group consists of assets selected for specific purposes such as running reports, calculating depreciation, and performing depreciation projections or calculations. Only one group can be displayed at a time. There are five standard groups created by the program for each new company. They are: <All FAS Assets> <All Non-FAS Assets> Active Assets Disposed Assets Inactive Assets WARNING: The last three of these groups can be modified or deleted but any changes made to these groups can alter their use in our training. To access a different group: 1. Click on the drop-down arrow to the right of the Group field Sage Software, Inc. 11

18 Section 1: The Sage Fixed Assets Interface Basic Sage Fixed Assets-Depreciation The List of groups is displayed. 2. Select Disposed Assets from the Group drop-down menu. The Disposed Assets group is displayed. All that will be displayed are the disposed assets, or, if there are none, a blank list will display. Total Assets in a Group At the top-right of the Asset List view is the number of assets in the current group. Changing Column Order Although the System Number is always the first column on the left, you may reorder the display by moving the other columns. To move a column in the Asset List view: 1. Click and hold the left mouse button on the Acquisition Date column header Sage Software, Inc.

19 Basic Sage Fixed Assets-Depreciation Section 1: The Sage Fixed Assets Interface 2. Slide the mouse to the left, dragging the column header title until two red arrows above and below the new insert position are between Co Asset No and Description. 3. Let go of the mouse button and the column will move into the new position of its header. 4. Move the Acquisition Date column back to its original position after Description. Freezing and Unfreezing Columns You may freeze columns in the Asset List view so that the column locks in view and scrolling right is done in columns to the right of the locked columns. WARNING: The System Number will always be the first column and cannot be unfrozen, moved, or hidden. To freeze the display of the Description and all columns to the left of it while we scroll columns to the right of it: 1. Right-click on the Description column to display a context-sensitive menu. 2. Select Freeze Column in the menu Sage Software, Inc. 13

20 Section 1: The Sage Fixed Assets Interface Basic Sage Fixed Assets-Depreciation NOTE: A blue dotted line will move from the right-hand side of the System Number column and appear on the right side of the Description column to indicate that it and all columns to its left are now locked in view. 3. Move the Horizontal scroll bar to the right to scroll other columns and notice that the description column and all columns to its left stay in view. Asset List view with the Description column locked and columns to the right scrolled into view. WARNING: Do not scroll the display to the right and then freeze a column that cannot be displayed without scrolling. This will redisplay the left-most columns and freeze all columns in the display. If this happens, unfreeze columns. To unfreeze columns: 1. Right-click anywhere in the list of assets and choose Unfreeze Column Sage Software, Inc.

21 Basic Sage Fixed Assets-Depreciation Section 1: The Sage Fixed Assets Interface Sorting Temporarily You can use asset fields in Asset List view to temporarily sort assets in the asset list for display on the screen, printing the Asset List, or exporting it to Excel. To temporarily sort the asset list: 1. Display the <All FAS Assets> group in Asset List view. 2. Double-click on the CLASS column heading. The data is temporarily sorted by Class in ascending order with the arrow next to the title class pointing up. 3. Double-click again on the column heading to sort the records in descending order and making the arrow point down. NOTE: Temporary sorts only affect the current display. They do not affect any other group or standard and customized reports and can only be applied to one general information field at a time. If you change groups, you will clear any temporary sort. TIP: You may send this temporarily sorted display to Excel or your printer by clicking the Export to Excel or Print Asset List buttons at the bottom of the working area Sage Software, Inc. 15

22 Section 1: The Sage Fixed Assets Interface Basic Sage Fixed Assets-Depreciation Selecting All Assets in Asset List View To select all assets in a group: 1. Click the All button at the top-left of the Asset List view. NOTE: Clicking the All button again, if all assets are selected, will deselect all assets in the group. Printing the Asset List View This option will print the current selection of assets or, if all are selected, it will print all the assets in the current group. The export will be in the order that the Asset List is displayed and only the columns that are shown in the Asset List will be printed. If any assets are selected, then only selected assets will be printed, so selecting the right group and selecting the right assets first will be important. To print all asset in a group in the Asset List view: 1. Deselect all assets in the group. 2. Click the Print Asset List button at the bottom of the Asset List view. The Print Asset List dialog box is displayed Sage Software, Inc.

23 Basic Sage Fixed Assets-Depreciation Section 1: The Sage Fixed Assets Interface 3. Type Asset List in the Header field. 4. Type This is a list of selected assets or all assets in the group. in the Footer field. 5. Click the check box next to the Grid Lines to put the asset data in a chart form. 6. Keep the check in the box next to Column Labels so that the field titles are displayed at the top of the columns of data. 7. Click the Preview button to view the print. The selected assets or the whole group are displayed. This print may run across several pages depending on how many columns are in your Asset List view. It will initially display in an auto mode which displays one page at a time. 8. When you are done viewing the asset list you may click the Print tool to send the Asset list to your printer. 9. Click Close to close the Print preview window. The Print Options dialog box is redisplayed. 10. Click Cancel to close the Print Options dialog box Sage Software, Inc. 17

24 Section 1: The Sage Fixed Assets Interface Basic Sage Fixed Assets-Depreciation Exporting the Asset List View to Excel The Asset List view can be exported directly to Excel. The export will be in the order that the Asset List is displayed and will include only the columns in the Asset List. Only selected assets will be exported, so displaying the right group and selecting the right assets first will be important. WARNING: If you don t specifically select assets to be exported to Excel, this process will select all assets in the current group and export them. To export the assets selected in the Asset List view to Excel: 1. Select assets with System No 4-7, and 9 to show an export of only selected assets. TIP: Remember to hold down the Ctrl key when selecting multiple assets in the Asset List view. The assets are selected. 2. Click the Export to Excel button Sage Software, Inc.

25 Basic Sage Fixed Assets-Depreciation Section 1: The Sage Fixed Assets Interface The Export Data to Microsoft Excel dialog box is displayed. 3. Select the User Files folder. 4. Type Sample data exported to Excel in the File name field. 5. Click the Save button. The export will open in Excel Sage Software, Inc. 19

26 Section 1: The Sage Fixed Assets Interface Basic Sage Fixed Assets-Depreciation Modifying the Display of the Navigation Pane The Navigation Pane to the left of the Working Area contains the Tasks and Customize lists and the Function buttons. This area can hidden completely if a maximum amount of space needs to be taken to display the working area or it can be modified in several ways. To hide the Navigation pane: 1. Right-click in the Asset List. 2. Select Hide Navigation Pane, at the bottom of the right-click menu Sage Software, Inc.

27 Basic Sage Fixed Assets-Depreciation Section 1: The Sage Fixed Assets Interface To redisplay the Navigation Pane: 1. Right-click in the Asset List. 2. Select Show Navigation Pane, at the bottom of the right-click menu. Modifying the Display of the Function Buttons The Function buttons can be reduced to their icons or hidden individually. To reduce a Function button to its icon: 1. Click the Configure Buttons tool below the function buttons. 2. Click Show Fewer Buttons, in the menu that displays. The last function button, Assistance Center will be reduced to just its icon Sage Software, Inc. 21

28 Section 1: The Sage Fixed Assets Interface Basic Sage Fixed Assets-Depreciation To completely hide a function button: 1. Click the Configure Buttons tool. 2. Select Add or Remove Buttons. 3. Click Assets. 4. Display all the buttons again Sage Software, Inc.

29 Basic Sage Fixed Assets-Depreciation Section 1: The Sage Fixed Assets Interface Lesson 2: The Asset Detail View The Asset Detail view provides detailed information on a single asset record, including: General Information fields such as Description, Class, and G/L Account Numbers. But it also displays a single asset s Acquisition Value, Current Through Date, and current Net Book Value, and other depreciation information stored in the seven accounting books. In Asset Detail view, you can type in the number of another asset you wish to display in Asset Detail view, as long as it is in the current group, or you can use the Go scroll buttons to view the Asset Detail view of the next or previous asset in the current group. To display the Asset Detail view: 1. Click on the Asset Detail button at the bottom left of the Asset List view. 2. Type 175 in the System Number field. 3. Click the Go button or press Enter. The Asset Detail view of asset 175 will be displayed. The Asset Detail view, at the top, displays: the asset system number and description the asset s status 2012 Sage Software, Inc. 23

30 Section 1: The Sage Fixed Assets Interface Basic Sage Fixed Assets-Depreciation The Go field displays: the system number or Asset ID number of the asset the Go button navigation arrows to move to the previous or next asset record in the group the name of the last group displayed in the Asset List view and the group used for the navigation arrows Next there are 5 tabs displayed (each tab represents a separate page): Main Transactions (Disposals and Transfers) Notes Images History To the far right of the tabs is the Template selection field, if there are templates in the current company. The Main Tab The Main tab displays: the System Number or Asset ID of the asset record The General Information fields - two columns showing all the data that is displayed in the Asset List view. This area can have scroll bars and buttons used to display any of the information out of view. The Book Information - the Acquisition date of the asset, the Acquired by options, the seven books and the book fields. This area can have scroll bars and buttons used to display any of the information out of view. The Asset List, Print Detail, Save Asset, IRS Table, and Help buttons at the bottom. 4. Click the left arrow to the right of the Go option to display the previous asset (of the one displayed) in the group. 5. Click the right arrow to the right of the Go button to display the next asset (of the one displayed) in the group Sage Software, Inc.

31 Basic Sage Fixed Assets-Depreciation Section 1: The Sage Fixed Assets Interface General Information (Descriptive) Fields on the Main Tab General Information fields, on the Main tab, contain descriptive information about your assets, and do not affect depreciation calculations. These are the same fields displayed in columns when you are viewing the Asset List view. The order of the columns in the Asset List view will not affect the order of these fields in the Detail Asset view. All General Information field information is optional; however, you should complete as much information as possible. The more fields you complete, the more flexibility you will have for grouping, sorting, and searching for assets in the future. If you require a field value to be entered, as we will show later in customizing fields, the field title will be displayed in bold text. To adjust the display so that more or less General Information fields are visible. 1. Point to the line between General Information and Book Information. 2. When the cursor becomes a sizing curser, click and drag the line up or down to display more or less of the General Information fields and Book Information fields. The General Information fields can all be displayed Sage Software, Inc. 25

32 Section 1: The Sage Fixed Assets Interface Basic Sage Fixed Assets-Depreciation Book Information Fields on the Main Tab These fields display the information needed to calculate depreciation for each book. Columns indicate to which book the data belongs. On the Main Tab, you can view all depreciation data for a single asset. Asset Tabs The Asset Tabs are selected to display different functional screens. They are the Main, Transactions, Notes, Images, and History tabs. 3. Type 11 in the System Number field and press Enter in Detail List view. 4. Click the Transactions tab. Transactions tab of asset number Type 40 in the System Number field and press Enter in Detail List view Sage Software, Inc.

33 Basic Sage Fixed Assets-Depreciation Section 1: The Sage Fixed Assets Interface 6. Click the Notes tab. Notes tab of asset number 40 is displayed. TIP: Notice that an asset with a note will have a picture of a note on the Notes tab. 7. Click the Images tab of asset number 40 in Detail List view. Images tab of asset number Sage Software, Inc. 27

34 Section 1: The Sage Fixed Assets Interface Basic Sage Fixed Assets-Depreciation TIP: Notice that an asset with an image will have a picture of a paper clip on the Images tab. 8. Click the History tab of asset number 40 in Detail List view. History tab of asset number 40 in Detail List view. 9. Slide the horizontal scroll bar to the right and notice that there are columns for: Action Date Description Source Application Switching between Asset List and Asset Detail Views There are numerous ways to switch between Asset List view and Asset Detail view. You can use your right mouse button menu, keyboard, drop-down menus, or the button at the bottom of the view area. To switch from Asset List view to Asset Detail view: Option 1: Select only the asset for which you want to see the Asset Detail view. Click the Asset Detail view button at the bottom-left of the Asset List area Sage Software, Inc.

35 Basic Sage Fixed Assets-Depreciation Section 1: The Sage Fixed Assets Interface Option 2: Point the mouse pointer at an asset for which you want to see the Asset Detail view and right-mouse click. Select Edit Asset in the menu displayed. Option 3: Double-click anywhere in the row displaying the asset information, for which you want to view the Asset Detail. To switch from Asset Detail view to Asset List view: Option 1: Click the Asset List view button at the bottom-left of the Asset Detail area. Option 2: Option 3: Press the Alt key and the t key simultaneously. This works because there is an underline under the last t in the button in Option 1. Right-mouse click on the Asset Detail area and select Asset List Sage Software, Inc. 29

36 Section 1: The Sage Fixed Assets Interface Basic Sage Fixed Assets-Depreciation The Navigation Pane (Tasks) The Navigation Pane is displayed to the left of the Asset List or Asset Detail windows. This section presents program commands available when the Asset List or Asset Detail views are shown, with more complete names than the menu options. We will be using these commands as often as possible to initiate actions in Sage Fixed Assets-Depreciation. Asset List view Tasks Asset Detail view Tasks Sage Software, Inc.

37 Basic Sage Fixed Assets-Depreciation Section 1: The Sage Fixed Assets Interface Check Your Knowledge Fill in the blanks or select the answer that best responds to the question. 1. The five default groups created by Sage Fixed Assets-Depreciation whenever a new company is created are: 2. You can never be sure exactly how many asset records are in a group. True or False 3. Sage Fixed Assets-Depreciation displays asset information in one of two views. The two views are: 4. Clicking the Go selection box arrows will only display assets in the group with its title displayed in the Group field. True or False 5. There are only three ways to switch between Asset List view and Asset Detail view. True or False 6. All Book-Related fields can be displayed in both Asset List view and Asset Detail view. True or False 7. Sage Fixed Assets-Depreciation data from how many groups and how many companies can be displayed at one time on the screen? A. 1 B. 2 C. 3 D. Unlimited 8. In Asset List view you may only select assets to act on that you can see on the screen. Assets that are scrolled out of view will no longer be selected. True or False 9. Using the Asset Detail view button will always display either the first selected asset in the current group or, if no assets are selected, the very first asset in the current group. True or False 2012 Sage Software, Inc. 31

38 Section 1: The Sage Fixed Assets Interface Basic Sage Fixed Assets-Depreciation 10. You may order any of the columns in the Asset List view in any order you want. True or False 11. There are 4 Print Options that you may set when printing the Asset List view. What are they? 12. Clicking the Export to Excel button will open Excel and display: A. All General and Book information for all asset records in the current group. B. All information in the Asset List for all asset records selected in the current group. C. All information in the Asset List for all assets in the current group if no asset records are selected. D. Both B and C above. 13. The Function buttons at the bottom of the Navigation Pane: A. Can be removed individually B. Can be displayed as Icons only instead of buttons C. Both A and B D. Cannot be modified 14. The Asset Detail view can display 5 pages of information indicated by the 5 tabs titled: Sage Software, Inc.

39 Basic Sage Fixed Assets-Depreciation Section 1: The Sage Fixed Assets Interface Apply What You Have Learned 1. How many assets are in the Active Assets group? 2. Move the Replacement Value and RV Override columns to the far right of all the columns. 3. Move the Invoice Date and the Warranty Date columns next to the Invoice column. 4. Freeze the Quantity column. Notice that the display returns to the first set of columns with Quantity column out of view and no horizontal scroll bar to move to the right in the columns. Unfreeze the columns to retain control. 5. Select Asset records, system numbers 20 through100. Print the Asset List only as a Preview on your screen. How many pages does it take? 6. What are the three images attached to the asset record with Asset ID ? 7. What other methods could you use, besides the three mentioned in this section, for switching the display from Asset List view to Asset Detail view? 8. What other methods could you use, besides the three mentioned in this section, for switching the display from Asset Detail view to Asset List view? 2012 Sage Software, Inc. 33

40 Section 1: The Sage Fixed Assets Interface Basic Sage Fixed Assets-Depreciation Sage Software, Inc.

41 Basic Sage Fixed Assets-Depreciation Section 2: Working With Assets Section 2 Working With Assets Description: In this section, students learn how to add assets to Sage Fixed Assets-Depreciation, use the Notes tab, and replicate assets. Emphasis is placed on the importance of the five critical fields. Objectives: By the end of this section, you will be able to: Add New Asset Records Use the Notes tab Replicate Assets 2012 Sage Software, Inc. 35

42 Section 2: Working With Assets Basic Sage Fixed Assets-Depreciation Lesson 1: Adding Assets Sage Fixed Assets-Depreciation has many data entry options to help ensure that data is entered accurately, consistently, and completely. There are numerous ways to add assets to the system. Each asset can be entered individually, as we will show here, or multiple assets can be added by importing data from another source. General Information Fields To add an individual asset and fill in the General Information Fields: 1. Select Add an Asset from the Tasks in either Asset List or Asset Detail view. Tasks displayed in Asset List view Tasks displayed in Asset Detail view The system displays the New Asset dialog box Sage Software, Inc.

43 Basic Sage Fixed Assets-Depreciation Section 2: Working With Assets NOTE: If any of the fields have been customized to be required entry fields, they will have a bold title, similar to how the titles of the 5 critical Book Fields are displayed. General Information Asset ID Description Location If your company uses asset tagging or another internal numbering or coding system to track your assets, enter that value here. This field can contain up to 50 characters. Assign a consistent number of digits and if necessary, use leading zeros to sort the asset list properly. This field should be unique and not blank for users of Sage Fixed Assets-Tracking. 2. Type and tab to the next field. This field is used to enter the full description of the asset. Descriptions provide quick and easily understood identifiers to anyone using the system. Consistent use of asset descriptions will also make finding and/or grouping and sorting assets easier. This field can contain up to 80 characters. 3. Type Dell Computer and tab to the next field. This field is used to enter any code or description to identify the asset's location. This field can be up to 25 characters. 4. Type b, or select Bakery it in the SmartList, and tab to the next field. NOTE: When the b is typed, the value becomes Bakery. This is because this field has Quick Lookup turned on and the first value in the SmartList that starts with b is Bakery. Quick Lookup will use the letters typed to see if it can find a match in the SmartList. G/L Asset Account This field is used to enter a general ledger asset account number as defined by your Accounting department. This field can have up to 100 characters. Department NOTE: This field is displayed on two standard reports, the: Annual Activity Report, and the File Listing Report 5. Type , for Computers Bakery, or select it in the SmartList, and tab to the next field. This field is used to enter the name of the department to which the asset belongs. 6. Type Facilities, or select it in the SmartList, and tab to the next field Sage Software, Inc. 37

44 Section 2: Working With Assets Basic Sage Fixed Assets-Depreciation G/L Accum Account This field is used to enter a general ledger accumulated account number as defined by your Accounting department. This field can have up to 100 characters depending on the mask. Class NOTE: This field is important when posting depreciation information to your corporate accounting system. It is used in the General Ledger Posting Report and the GL Links. 7. Type , for AD - Comp\Periph Bakery, or select it in the SmartList, and tab to the next field. This field is used to enter a one or two-letter code to classify the asset. This field will only hold up to 2 characters. 8. Type the class code CE for computer equipment, or select it from the SmartList, and tab to the next field. G/L Expense Account This field is used to enter your general ledger expense account number as defined by your chart of accounts. This field can have up to 100 characters. NOTE: This field is important when posting depreciation information to your corporate accounting system. It is used in the General Ledger Posting Report and the GL Links. 9. Type , For Depr Expense Bakery, or select it in the SmartList, and tab to the next field. Purchase Order No Invoice Vendor This field is used to enter the asset s purchase order number. It can hold up to 25 characters. 10. Type and tab to the next field. This field is used to enter the number of the invoice used to pay for the asset. It can hold up to 25 characters. 11. Type and tab to the next field. This field is used to enter the asset vendor s company name or number. It can hold up to 25 characters. 12. Type d (for Dell) and tab to the next field Sage Software, Inc.

45 Basic Sage Fixed Assets-Depreciation Section 2: Working With Assets Invoice Date This field is used to record the date on the invoice. It can only hold a date. 13. Type , or select it in the drop-down calendar, and tab to the next field. NOTE: The arrows on each side of the top of the calendar can be used to move forward or backward in the months or you may click on the year and use the up or down arrows to select a year in the future or past. If you want to select the current date recorded on your computer, you may click on the bar at the bottom of the calendar labeled Today. Mfg Serial No Quantity This field is used to enter the manufacturer s serial number for the asset. It can hold up to 25 characters. 14. Type and tab to the next field. This field is used to record the number of individual assets combined in this one record Sage Software, Inc. 39

46 Section 2: Working With Assets Basic Sage Fixed Assets-Depreciation NOTE: It is recommended that you make individual asset records for each asset but sometimes your minimum capitalization amount may lead you to combine assets to achieve a cost above your capitalization floor. 15. Type 1, or keep the default of 1, and tab to the next field. Owner This field is used to enter the name of the person most responsible for the asset. It can hold up to 25 characters. 16. Type (your name), or select a name in the SmartList, and tab to the next field. Replacement Value The data for this field is system generated and cannot be directly edited. Warranty Date This field is used to record the date a warranty will expire, if there is one. It can only hold a date. 17. Type , or select it in the drop-down calendar, and tab to the next field. Rv Override? State Model # This field is used to record a manual entry for the Replacement Value of the asset when the Replacement Value calculated field entry is not accurate. 18. Tab to get past the field and leave the value No. This field, a customization of Custom Field 1, is used to record the state in which the asset is located. It can hold up to 25 characters. 19. Type (the two character code for your state), or select one in the SmartList, and tab to the next field. This field, a customization of Custom Field 2, is used to record the manufacturer s model number for the asset. It can hold up to 25 characters. 20. Type Optiplex GX990 and tab to the next field. PT Category This field, a customization of Custom Field 3, is used to group assets for the two Property Tax reports. It can hold up to 25 characters. 21. Select Computers and Periph from the SmartList and tab to the next field Sage Software, Inc.

47 Basic Sage Fixed Assets-Depreciation Section 2: Working With Assets The remaining Custom Fields can be hidden to avoid accidentally entering values in them or they may remain in view for some temporary use you may have for them. Book Information To fill in the Book Information Fields: Acquisition Date This field is used to enter the date you actually acquired the asset, even if different from the date you placed the asset in service. (The system displays the convenient pop-up calendar to help you enter dates.) NOTE: If not entered by the user, this date will default from the Placed in Service date since it is important for several standard reports, i.e. the: Annual Activity, Fixed Asset Summary and Quarterly Acquisition reports 1. Type or click the arrow to the right of the field and use the calendar to select January 4, 2012, and tab to the next field Sage Software, Inc. 41

48 Section 2: Working With Assets Basic Sage Fixed Assets-Depreciation Acquired by: This choice defaults to Purchase but can be changed to Exchange or Conversion if an asset is involved in a Like-Kind Exchange or an Involuntary Conversion. 2. Keep the default of Purchase and tab to the next field. NOTE: The five book Information fields with bold titles are considered to be the critical depreciation fields. They are: Property Type Placed-in-Service Date Acquisition Value Depreciation Method Estimated Life Property Type This field is used to select a property type code from the property codes displayed in the SmartList. You can not create or edit this SmartList which is set according to IRS dictates Sage Software, Inc.

49 Basic Sage Fixed Assets-Depreciation Section 2: Working With Assets 3. Keep the default of P Personal, General and tab to the next field. Placed-in-Service Date This field is used to enter the date you placed the asset in service. This date might be different from the acquisition date. The system uses this date to determine when to begin depreciating the asset. 4. Keep the default of 01/04/2012. The date defaults from the date entered in the Acquisition Date, or select another date from the drop-down calendar, and tab to the next field. Book Defaults for the Tax Book are filled in once the system knows the Property Type and the Placed In Service date. However, you will need to confirm or edit these default values. Acquisition Value This field is used to enter the dollar value of the asset when you first acquired it. This value might include: taxes, shipping and handling and installation costs, etc. The system uses the acquired value to determine the asset s depreciable basis. 5. Type 2500 and tab to the next field. Depreciation Method This field is used to select a depreciation method from the list of options. In the drop-down list, the system only displays methods that are valid for the date placed in service and property type. 6. Keep the default of MA200 and tab to the next field. Estimated Life This field is used to enter the estimated life for the asset. The system uses the estimated life as the time period over which it will recover the asset s depreciable basis. For some methods, you can click the drop-down list button and then select the estimated life from the drop-down list. 7. Type 5 and tab to the next field. The IRS Table You may use the IRS Table button to obtain the Estimated Life and ADS (Alternate Depreciation System) Life of commonly used assets for the tax books. 8. Click the IRS Table button found in the bottom right corner of the window next to the Help button. 9. Click on C for computers in the alphabetic list or scroll down the list to Computers. Notice the GDS life (General Depreciation System, the program calls this Estimated Life) is 5 and ADS Life is Sage Software, Inc. 43

50 Section 2: Working With Assets Basic Sage Fixed Assets-Depreciation ADS Life 10. Close the IRS Table. ADS life is the life assigned to the asset type under the MACRS Alternative Depreciation System. 11. Type 5 and tab to the next field. Business Use % The percentage of time the asset is used for business purposes. 12. Keep the default of 100 and tab to the next field. 179 Deduction This field is used to record the Section 179 expense deduction or other Bonus amounts. 13. Keep the default of 0 and tab to the next field Sage Software, Inc.

51 Basic Sage Fixed Assets-Depreciation Section 2: Working With Assets 168 Allowance % This field is used to set the percentage of 168 allowance to take on assets placed in service between Sept. 11, 2001 and Dec. 31, 2004 or January 1, 2008 and December 31, Since the depreciation method for this asset is MA200 the percentage is automatically set to 50 for an asset placed in service in Keep the default of 50 and tab to the next field. Salvage Value This field is used to record the expected selling price of the asset at the end of its useful life. 15. Keep the default of 0 and tab to the next field. Investment Tax Credit This field is used to record an Investment Tax Credit amount. 16. Keep the default of 0 and tab to the next field. The Beginning Fields If the asset was being previously depreciated prior to adding it to Sage Fixed Assets- Depreciation, you must tell the system so it can pick up from where the asset was last depreciated in the previous system. The Beginning Fields allow you to provide that information. NOTE: All New asset entries will probably not have any beginning field values to enter. Beginning Date This field is used for assets which had depreciation calculated before entering them in Sage Fixed Assets-Depreciation. Enter the last date through which depreciation was calculated in the previous system. The Sage Fixed Assets-Depreciation system calculates and tracks depreciation beginning with the month after the date you enter here. 17. Leave the field blank and tab to the next field. Beginning YTD This field is used to record the Beginning Year-to-Date amount. If it is specified that system depreciation calculations begin on a date after the first day of a new fiscal year, the amount of depreciation already taken for this asset for the year, up to the date the Sage Fixed Assets- Depreciation system will begin calculating depreciation, must be entered for this value to appear properly on reports. Beginning Accum This field is used to enter the total of all depreciation calculated on the asset since it was placed in service, through the beginning date, including the amount entered as the Beginning YTD Depreciation. This field is used for calculating adjustments. The remaining Book fields, Depreciation Calculations, are displayed in blue since they are calculated by the Sage Fixed Assets-Depreciation program and you cannot directly edit them Sage Software, Inc. 45

52 Section 2: Working With Assets Basic Sage Fixed Assets-Depreciation NOTE: After tabbing through either the Beginning Date field or the Beginning Accum field for assets with prior depreciation calculations, the program will enter default values into all other open books based on the values from the Book Defaults. These defaults should always be confirmed and overridden when necessary. If the Book Defaults do not fill in, the Apply Book Defaults selection can be made from the Tasks list. 18. Type 3 in the Internal Book Estimated Life field and tab to the next field. 19. Type 3 in the Budget 1 and Budget 2 Estimated Life fields and tab to the next field. Saving the Asset When all necessary modifications have been made to the Automatic Book Defaults you may save the asset by clicking on the Save Asset button at the bottom of the window. 20. Click the Save Asset button Sage Software, Inc.

53 Basic Sage Fixed Assets-Depreciation Section 2: Working With Assets Lesson 2: Using the Notes Tab The Notes page provides additional space to enter any notes or special information about an asset. You may choose to document certain changes made to an asset or the reasons for the changes, or provide further detail on asset maintenance information. To add notes to an asset: 1. Double-click on the note image in the notes column of the Asset List view of asset #40 of Westfields Bakery - Training, the Ford Delivery Van. Assets with a note contain a note image in the notes column for the record. The Notes page of asset #40 is displayed Sage Software, Inc. 47

54 Section 2: Working With Assets Basic Sage Fixed Assets-Depreciation NOTE: The time and date of all notes are automatically recorded. Additional notes are added by accessing the Notes Tab and repeating the instructions below. 2. Click under the Date and Time stamp. 3. Type in the note: Fuel Pump Replaced 4. Click the Add Note button. The note will be added to top of the list of notes. WARNING: After you Add Notes you cannot edit them. If you do not save the asset record, the note will not remain on Notes page of the record. After you save the asset, you cannot edit or delete the notes. 5. Click Save Asset Sage Software, Inc.

55 Basic Sage Fixed Assets-Depreciation Section 2: Working With Assets Lesson 3: Replicating Assets If you are adding multiple assets that are similar, you may want to add the first asset, then replicate it for the others. Sage Fixed Assets-Depreciation copies the asset data into as many new assets (up to 999 at a time) as you request and assigns each asset a system number in sequence. To replicate an asset: 1. With Westfields Bakery - Training open, display the Asset Detail view of the Dell Computer we entered earlier. WARNING: In order to use the Replicate feature you must be in Asset Detail view. 2. Click Replicate an Asset in the Tasks list. The system displays the Replicate Asset Dialog. 3. Type 9 in the Number of copies field. NOTE: We have already created one asset, so if there were 10 assets total we need just 9 more. 4. Click OK Sage Software, Inc. 49

56 Section 2: Working With Assets Basic Sage Fixed Assets-Depreciation The system displays the Asset Replication was successful notice. NOTE: Replicated assets receive the next System Number(s) available, in sequential order. 5. Click OK. 6. View the Asset List view and notice the 9 new Dell Computers at the bottom of the Active Assets group. TIP: If you know that you will be replicating an asset record, you may want to enter only the values that are common to all the replicated assets and then enter the individual information for each asset on each of the records. You will notice that the Asset ID number for all the replicated Dell Computers is also replicated and must be changed on each record. The same would be true of fields like the Serial Number and possibly others. 7. Be sure to edit fields in each of the records that will be different from the original asset record that was replicated Sage Software, Inc.

57 Basic Sage Fixed Assets-Depreciation Section 2: Working With Assets Check Your Knowledge Choose the answer that best responds to each question or fill in the blanks. 1. Most fields can hold up to how many characters? 2. Some fields can hold more characters. Their titles and the number of characters they can hold are: 3. The Acquisition Date and the Placed-in-Service Date are always the same. True False 4. The Tax book estimated life is set by. 5. You may look up the IRS estimated life settings in. 6. You may enter new asset record information into Sage Fixed Assets-Depreciation in one of four ways. They are: 7. The Beginning Date for a new asset with no prior depreciation should be, so that Sage Fixed Assets-Depreciation will know when to begin calculating depreciation. 8. The Internal book estimated life is set by. 9. Which of the following is NOT considered a critical field? a) Estimated Life b) Depreciation Method c) Beginning Date d) Placed-In-Service Date 2012 Sage Software, Inc. 51

58 Section 2: Working With Assets Basic Sage Fixed Assets-Depreciation Sage Software, Inc.

59 Basic Sage Fixed Assets-Depreciation Section 3: Disposing of Assets Section 3 Disposing of Assets Description: In this section students learn how to dispose of assets and generate Disposal Reports. Objectives: At the completion of this section, you will be able to: Dispose of a single asset Understand the Disposal report Reverse (Cancel) disposals 2012 Sage Sofware, Inc. 53

60 Section 3: Disposing of Assets Basic Sage Fixed Assets-Depreciation Lesson 1: Disposing of an Asset When you sell, exchange, abandon, retire, or in some other way dispose of an asset, you must tell the system so it can calculate the gain or loss from the disposal and stop depreciating the asset. Sage Fixed Assets-Depreciation automatically calculates depreciation through the disposal date, so you do not have to update current depreciation before disposing of the asset. In fact, you should dispose of assets before running depreciation for the period in which they are disposed. After you dispose of an asset, the system displays the label Disposed in the asset s title bar and the activity column of the Asset List view indicates the asset is disposed. To dispose of an asset: 1. Display the Asset Detail view of Asset ID # (system # 103). 2. Select Dispose an Asset in the Tasks list. The system displays the Asset Disposal - Asset 103 page Sage Software, Inc.

61 Basic Sage Fixed Assets-Depreciation Section 3: Disposing of Assets Disposal Date Use this field to enter the date your company disposed an asset. The system uses this date to calculate the gain or loss on the disposal. This is a mandatory entry. 3. Enter the date and press tab to move to the next field. NOTE: The system calculates depreciation through the disposal month and updates the Asset Information in the display. This information has not been saved or updated in the asset s record yet. Disposal Method Use this field to select from the available disposal categories. Sale Abandonment Taxable Exchange Casualty Like-Kind Exchange: Post-1/2/2000 Involuntary Conversion: Post-1/2/2000 Other 4. Select Sale. Partial Disposal This field is used only if a portion of the asset is to be disposed of instead of the entire asset. 5. Leave the default of NO. Cash Proceeds This field is used to enter the dollar amount of all cash received, plus the value of any debts or other liabilities assumed by the buyer. 6. Enter Non-cash Proceeds This field is used to enter the dollar value of any Non-cash items received. 7. Leave this field at Expenses of Sale This field is used to enter the dollar amount of direct expenses incurred from selling or otherwise disposing of the asset. Asset Accounting adds this amount to the asset's basis when it calculates the gain or loss to report on Form 4797 Sales of Property worksheet, which you can select from the Reports menu. 8. Enter and press tab to move to the Calculate button. 9. Click the Calculate button, when all the top fields have been filled in Sage Sofware, Inc. 55

62 Section 3: Disposing of Assets Basic Sage Fixed Assets-Depreciation The system calculates gain or loss for each book. Gain/Loss Recognize? A value can be manually entered to override the calculated gain or loss amount. To enter a loss, precede the loss amount with a negative symbol and do not enclose the value in parentheses. This field is used to select [Yes, No, or Defer] from the drop-down list to determine the gain or loss recognition. Special tax rules and Generally Accepted Accounting Principles (GAAP) determine whether a realized gain or loss is recognized (that is, reported for tax purposes and in the company books). These rules depend on the chosen disposal method. 10. Confirm that YES is selected in all books. Deferred Date If Recognition of a disposal is deferred, you may enter the deferred date in this field. If the disposal is recognized this field will remain grayed out so that no entry can be made. 179 Recapture If the asset was expensed under Section 179 before December 31, 1986, and disposed of before the end of the second tax year after the acquisition year, Sage Fixed Assets Sage Software, Inc.

63 Basic Sage Fixed Assets-Depreciation Section 3: Disposing of Assets Depreciation calculates and displays the Section 179 recapture amount. A different amount can be entered to override the calculated amount. If no Section 179 expense was taken on an asset, this field will be grayed out and no entry can be made. ITC Recapture If ITC was taken on the asset and the asset is disposed of before the end of its recovery life, Sage Fixed Assets-Depreciation calculates and displays the ITC recapture amount. A different amount can be entered to override the calculated amount. The system carries the amount in this field to the Form 4255 ITC Recapture worksheet, which can be selected from the Reports menu. 11. Click the Worksheet button at the bottom. Disposal Worksheet The system displays a worksheet detailing gain/loss calculations for each book. These worksheets can be viewed on the screen, printed or exported. 12. Click the X in the upper right corner to close the Disposal Worksheet. 13. Click OK in the Asset Disposal - Asset 103 dialog Sage Sofware, Inc. 57

64 Section 3: Disposing of Assets Basic Sage Fixed Assets-Depreciation A Disposal Confirmation box is displayed. 14. Click Yes. The Transactions tab of asset #103 is displayed. On the Transactions tab will be displayed all disposals and transfers that have involved this asset. View Transaction This button will display the disposal or transfer dialog of the most recent transaction so that it may be viewed or edited. Delete Last Transaction This button will delete the most recent transaction on this asset only. This will restore the asset to its status before that transaction. Disposal Worksheet This button will display the worksheet for the most recent transaction Sage Software, Inc.

65 Basic Sage Fixed Assets-Depreciation Section 3: Disposing of Assets The button to the left of each transaction can be used to expand or contract the details of the transaction. 15. Click the Asset List view button at the bottom of the window. Once the disposal is saved, the system updates the asset s status in the Asset List view Sage Sofware, Inc. 59

66 Section 3: Disposing of Assets Basic Sage Fixed Assets-Depreciation Lesson 2: The Disposal Report The Disposal report lists only assets that have been disposed. The report has two parts. In the first part, it shows the realized gain or loss for each asset and whether the gain or loss is recognized, not recognized, or deferred. In the second part, it summarizes the total gains and losses for all assets that are recognized, not recognized, or deferred. Although depreciation is calculated during a disposal, if depreciation is then calculated to an earlier date, the current Thru Date and Current Accumulated Depreciation values will be valid through the earlier date and not the Disposal Date. To be certain that figures are valid for disposed assets before the Disposal report is run, first calculate depreciation at least through the latest disposal date that might appear on the Disposal report. To run the Disposal Report: 1. In the menu bar, select Reports>Standard Reports>Disposal. The Report Definition window is displayed Sage Software, Inc.

67 Basic Sage Fixed Assets-Depreciation Section 3: Disposing of Assets Setup Report Tab 2. Keep the setting of Disposal in the Report Name options. 3. We can keep the group All FAS Assets, since we know this group includes all assets in the company, but the report will only display disposed assets found in that group. 4. Click Internal only, to run just the Internal Disposal Report. 5. Ensure the To date is 12/31/2012 and the From date is 01/01/2012. WARNING: You may need to fill the fields in, in that order to avoid the error warning about the From date being earlier than the To date. 6. Keep the default check in the Asset count box in the Configuration options. 7. Keep the Detail, subtotals, and totals selection in the Subtotal Options. 8. Keep the Window selected only in the Send To options. Format Report Tab 9. Click the Format Report tab: 10. Keep the Portrait selection, in the Report Orientation field. 11. Keep Do Not Round, in the Currency Rounding field Sage Sofware, Inc. 61

68 Section 3: Disposing of Assets Basic Sage Fixed Assets-Depreciation 12. Select Override Sort Specified in Group, in the Sort Options field. 13. Select Disposal Method in the Sort 1, Field options. 14. Keep Ascending in the Sort 1, Order options. 15. Select Subtotals in the Sort 1, Subtotals options. 16. Select Disposal Date in the Sort 2, Field options. 17. Keep Ascending in the Sort 2, Order options. 18. Select Month & Year Subtotals in the Sort 2, Subtotals options. WARNING: The selection of Month & Year is useful here, but will use the last 2 of the available 3 sorts. 19. Click the Run Report button at the bottom of the window. The Disposal Report is displayed Sage Software, Inc.

69 Basic Sage Fixed Assets-Depreciation Section 3: Disposing of Assets The Report Columns The Disposal Report displays the following columns: Sys No The number assigned by the system as each asset is added. Ext The number assigned to indicate pieces of partial disposals or transfers. Asset ID The number assigned by your company to an asset. Description The Descriptive information. Class The Class code for the asset. In Svc Date The date the asset was placed in service and depreciation was begun. Disposal Date The date the asset was disposed. DM The asset s Disposal Method The following table displays the available Disposal Method codes. Code Disposal Method S A E C L K I V R Sale Abandonment Taxable Exchange Casualty Like-Kind Exchange: Pre-1/3/2000 Like-Kind Exchange: Post-1/2/2000 Involuntary Conversion: Pre-1/3/2000 Involuntary Conversion: Post-1/2/2000 Other Acquired Value The cost of the asset. Current Accum Depreciation This column shows the current accumulated depreciation calculated by the system, as of the Thru Date displayed in Asset Detail view. Because the asset has been disposed of, this is the final total depreciation taken on the asset. If Yes had previously been selected to Include Sec. 168(k) & Sec. 179 in Expense (in the Edit Company settings), it will also be included in this column. Net Proceeds The system calculates the net proceeds as cash proceeds plus non cash proceeds, minus the expenses of the sale, as entered when you disposed of the asset Sage Sofware, Inc. 63

70 Section 3: Disposing of Assets Basic Sage Fixed Assets-Depreciation Gain/Loss Adjust Basis This column shows the adjusted basis used for calculating the asset s realized gain or loss. Realized Gain(Loss) This column shows the amount the system calculated as the asset s realized gain or loss. Gain or Loss Recognition (GL) This column shows the gain or loss recognition code entered or accepted when you disposed of the asset. These codes can be: Code Y N D Description The Gain or Loss was recognized The Gain or Loss was not recognized The Gain or Loss was deferred Recognition Totals The three columns in part two of the report, (Gains, Losses, and Net) list the amounts that were recognized, not recognized, or deferred for the disposed assets included in the report. The Net column shows the totals for net gains or losses. Report Assumptions The last page of most reports displays important information about the data included on the report. It is divided into four sections that give more information about the report. Report Name - This field displays the name of the report. If you customized a standard report and changed the name of the report, this field displays the new report name. Source Report - If you have customized a standard report, this field displays the standard report on which the customized report is based. Calculation Assumptions - The calculation assumptions section shows: Whether the company had any short years during the report period. The depreciation adjustment convention used when an asset s depreciation is less than the amount the application calculates for the beginning period (no adjustment, immediate adjustment, or postrecovery adjustment) Sage Software, Inc.

71 Basic Sage Fixed Assets-Depreciation Section 3: Disposing of Assets Whether the setting for the Include Section 168 Allowance and Section 179 in Expense field was on or off for the company. Group/Sorting Criteria - This section shows the group name, group definition, and sort criteria. You can override the sort order specified in the group by completing the Sort Order fields on the Format Report page of the Report Definition screen. 20. Click the X in the upper right corner to close the Disposal Report. 21. Click Close to close the Report Definition window Sage Sofware, Inc. 65

72 Section 3: Disposing of Assets Basic Sage Fixed Assets-Depreciation Lesson 3: Reversing (Cancelling) Disposals Occasionally a disposal will be entered in error or need to be rolled back. Reversing or cancelling the disposal is often a two part process. You will first delete the last transaction on the asset, and then reset the depreciation to the desired date. You will want to backup your data before using this feature. To reverse or cancel a single or a partial disposal: 1. Select Company Asset No , (Sys No 103) in the Asset Detail view. WARNING: You must select or display the Asset Detail view of a disposed, partially disposed, transferred, or partially transferred asset in order for the Delete Last Transaction menu choice to become available for the next step. 2. Select Asset>Delete Last Transaction in the menus. The system displays a Delete Last Transaction warning message. 3. Click Yes Sage Software, Inc.

73 Basic Sage Fixed Assets-Depreciation Section 3: Disposing of Assets Observe the following. The Status in Detail View returns to Active. The Disposal transaction disappears on the Transactions tab. The Book Information on the Main tab of the asset becomes available (if the asset is now active). WARNING: The Current Through Date is still the month of the disposal. The second part of the process is to reset the depreciation of this asset. In this case, depreciation on this asset is already set for the next time we run depreciation (in April 2012) Sage Sofware, Inc. 67

74 Section 3: Disposing of Assets Basic Sage Fixed Assets-Depreciation Check Your Knowledge Choose the answer that best responds to each question or fill in the blanks. 1. Delete Last Transaction in the Asset menu will undo the most recent disposal only on the asset displayed in Detail View. True False 2. You should record all disposals occurring in a month in Sage Fixed Assets-Depreciation before running depreciation for the month. True False 3. Disposed assets remain in the Active Assets group, until depreciation is calculated into a new fiscal year. True False 4. Disposed assets display on the Depreciation Expense report, until depreciation is calculated into a new fiscal year. True False Sage Software, Inc.

75 Basic Sage Fixed Assets-Depreciation Section 3: Disposing of Assets Apply What You Have Learned Dispose of Sys No 111. Use the following to complete the exercise: Disposal date is 04/30/2012 Cash proceeds equal $100 No non-cash proceeds $10 expenses of sale What is the gain/loss for the Int. book? 2012 Sage Sofware, Inc. 69

76 Section 3: Disposing of Assets Basic Sage Fixed Assets-Depreciation Sage Software, Inc.

77 Basic Sage Fixed Assets-Depreciation Section 4: Calculating Depreciation Section 4 Calculating Depreciation Description: In this section students learn how to generate depreciation calculations. The Depreciation Expense Report and the General Ledger Posting Report are explained. Objectives: When you have completed this Section, you will be able to: Depreciate Assets for Monthly Periods Understand the Depreciation Expense Report Understand the General Ledger Posting Report (Depreciation Journal Entry) Understand the Depreciation calculation fields in the Asset Detail view 2012 Sage Software, Inc. 71

78 Section 4: Calculating Depreciation Basic Sage Fixed Assets-Depreciation Lesson 1: Depreciating Assets Monthly The Depreciate feature calculates depreciation from the last date depreciation was run, through a date you specify, both of which could be a date in the future. The system calculates depreciation and updates the amounts for each asset in the Current Through Date, Current Year-to-Date (Current YTD), Current Accumulated Depreciation (Current Accum), and Net Book Value fields in the Asset Detail view. A Depreciation Expense Report can be run during the depreciation process or later from the Reports menu. Depreciation is used to calculate current depreciation for a single asset, a selected group of assets, or all assets in a company. In Sage Fixed Assets-Depreciation, depreciation calculations can be made for: Monthly Calculations Quarterly Calculations Yearly Calculations Future Period Calculations Obtaining Monthly Depreciation Figures For monthly depreciation figures, simply calculate depreciation for each month in succession. For example, suppose today is March 31, If you last calculated depreciation for all assets and all books through December This means that you have calculated current year-to-date and accumulated depreciation for all assets through December 2011, and the current Through Date in Asset Detail view is December To obtain the figures for March 2012, calculate depreciation to February 2012 to catch up the calculations, and then calculate to March If depreciation needs to be calculated for a specific period (month, quarter, year) and the depreciation has not been kept current, then the previous period (month, quarter, year) must be depreciated first to obtain valid calculations. The sample data in Westfields Bakery - Training was last calculated in December To bring the Westfields Bakery-Training data up to date as of February 2012: 1. Display the Asset Detail view of an active asset. Notice the 12/2011 Current Through Date in the Internal book. 2. Click Calculate Depreciation in the Tasks list Sage Software, Inc.

79 Basic Sage Fixed Assets-Depreciation Section 4: Calculating Depreciation The system displays the Depreciate dialog. 3. Select Active Assets, in the Group field. 4. Click only Internal, in the Books field. 5. Type , in the Calculate depreciation through field to ensure that all assets are calculated through the month prior to March WARNING: You will need to select the end of February from the drop down calendar or type in in Sage Fixed Assets-Premier Depreciation. 6. Leave unchecked the box before Force recalculation. NOTE: We would need to check this box if we were recalculating depreciation after changing the fiscal year end or the adjustment setting. 7. Leave the default check in the box before Update current reporting period. 8. Uncheck the Window box, in the Send To field. 9. Click OK to run the calculations. 10. Click Cancel to close the Depreciate dialog. To obtain March 2012 monthly depreciation figures, calculate depreciation for the month: WARNING: Be sure to calculate the prior month, as we just did, if you have not already done so, before depreciating the current month. 11. Click Calculate Depreciation in the Tasks list. 12. Select Active Assets, in the Group field: 2012 Sage Software, Inc. 73

80 Section 4: Calculating Depreciation Basic Sage Fixed Assets-Depreciation 13. Select the Internal book, in the Books field. 14. Type , in the Calculate depreciation through field. WARNING: You will need to select the end of March from the drop down calendar or type in in Sage Fixed Assets-Premier Depreciation. 15. Leave unchecked the box before Force recalculation. 16. Check the box before Update current reporting period for selected books. 17. Keep the default of Depreciation Expense in the Choose Report field. 18. Check the Window box, in the Send To field. 19. Click OK to run the calculations and display the report. The system displays the Depreciation Expense report. (Your report totals may be different from the one displayed here.) NOTE: Confirm that the Prior Thru date is the end of the prior period for all assets that have been depreciating prior to the current period. Confirm that the As of date at the top of the report is the end of the current period. Which other columns or total values on this report must you confirm with other data in your company? And where can you find this other data? Grand Total Acquired Value: Count: Grand Total Prior Accum Depreciation: 20. Click the X in the upper right corner to close the report. 21. Click Cancel to close the Depreciate dialog Sage Software, Inc.

81 Basic Sage Fixed Assets-Depreciation Section 4: Calculating Depreciation Lesson 2: The Depreciation Expense Report You may open the Report Definition dialog from the Reports function and access any Standard or Customized Report. To view the Depreciation Expense report at any time without running depreciation: 1. Select Reports in the function buttons. 2. Select Depreciation Expense, on the Reports tab of the Reports working area. 3. Click the Run\Edit Report button Sage Software, Inc. 75

82 Section 4: Calculating Depreciation Basic Sage Fixed Assets-Depreciation The system displays the Report Definition dialog. 4. Select Active Assets, in the Group field. 5. Select Internal, in the Books field and deselect Tax. 6. Select Current reporting period, in the Date field. 7. Check only Asset count, in the Configuration field. 8. Select Detail, subtotals, and totals, in the Subtotal Options field. 9. Select Window, in the Send To field. 10. Click the Run Report button at the bottom of the dialog. The system displays the Depreciation Expense Report Sage Software, Inc.

83 Basic Sage Fixed Assets-Depreciation Section 4: Calculating Depreciation Interpreting the Depreciation Expense Report The Depreciation Expense Report displays the depreciation that has been calculated for selected assets. Along with the descriptive asset data, the report shows figures for previous depreciation and current depreciation. The Depreciation Expense Report displays the: Name of the company for which the report is run. Name of the report As of date for which the calculations are current. Book for which the report is run. Fiscal Year End (FYE) Month to which the company is set. Sys No The number assigned by the system sequentially as each asset is added. Ext The number assigned by the system to indicate an original asset or pieces of partial disposals or transfers. In Svc Date The date the asset was placed in service and depreciation was begun. Acquired Value The cost of the asset. PT The Property Type of the asset. Depr Meth The Depreciation Method for the book chosen for the report. Est Life The Estimated Life of the asset in the book chosen for the report. Salv / 168 Allow Sec 179 The sum of the Salvage Value, 168 Allowance and Section 179 taken on the asset. Depreciable Basis The amount on which depreciation is calculated by Sage Fixed Assets-Depreciation. Prior Thru The Prior Through Date is the date of the next-to-last depreciation calculation. The Current Through Date is shown at the top of the report. Prior Accum Depreciation Prior Accumulated Depreciation includes all depreciation expense from the asset s placed-in-service date through the end of the fiscal year before the last depreciation calculation date shown at the top of the report. Depreciation This Run The depreciation calculated for the period between the nextto-last depreciation calculation (the Prior Thru Date) and the last depreciation calculation (the Current Through Date shown at the top of the report). Current YTD Depreciation The Current Year-To-Date Depreciation includes all depreciation expense from the beginning of the fiscal year containing the Current Through Date up to and including the Current Through Date. Current Accum Depreciation The Current Accumulated Depreciation includes all depreciation expense from the asset s Placed-In-Service date up to and including the current Through Date. This amount equals the amount in the Prior Accumulated Depreciation column plus the amount in the Current Year to Date column. Key Code One or more lower case letters that represent additional information about the asset. A legend for the keys is displayed on the last page of the report as shown below Sage Software, Inc. 77

84 Section 4: Calculating Depreciation Basic Sage Fixed Assets-Depreciation At the bottom of the report are the Grand Totals. Including figures for: Less Disposals and Transfers subtracting these values back out of the totals. Count of the Less Disposals and Transfers. Net Grand Total for each of the columns. Count of all asset records on the report. And below that the Report Assumptions. Showing: Key Codes explaining each of the codes in the Key Code column. Group/Sorting Criteria explaining the settings for the group in the report. 11. Click the X in the upper right corner of the window to close the report. 12. Click Close to close the Report Definition dialog Sage Software, Inc.

85 Basic Sage Fixed Assets-Depreciation Section 4: Calculating Depreciation Lesson 3: General Ledger Posting Report This report prints a journal entry that can be used to post the Depreciation This Run figures from the most recent depreciation calculation for the requested books, to a general ledger. For this report to be useful, you must have entered a G/L Expense Account number and a G/L Accumulated Account number for each asset. The General Ledger Posting report will include only those assets whose last depreciation run date (the current through date) matches the date entered for the posting report. To run a General Ledger Posting Report: 1. Select Reports in the function buttons. 2. Select General Ledger Posting, on the Reports tab of the Reports working area. 3. Click the Run\Edit Report button. 4. Select Active Assets, in the Group field of the Report Definition dialog. 5. Select Internal, in the Books field and deselect Tax. 6. Keep the Current Report Period as it is. 7. Type in Journal Number Ensure there is a check in the Send To Window checkbox. 9. Click the Run Report button. The system displays the General Ledger Posting report Sage Software, Inc. 79

86 Section 4: Calculating Depreciation Basic Sage Fixed Assets-Depreciation Interpreting the General Ledger Posting Report This report shows total Depreciation This Run figures by G/L account number for all assets calculated through the current reporting period. The following guidelines provide detail on the nonstandard columns appearing in the General Ledger Posting report. Journal Entry Number This field shows the journal number that you entered on the Report Definition dialog. General Ledger Account Number This column lists all the G/L expense account numbers, then the G/L accumulated account numbers, for the assets included in the report. The account numbers are listed in alphanumeric order. The list may also include a blank G/L expense or accumulated account number. The blank account number is for assets that did not have entries in these fields. Account Name Debit Credit The Account Name column shows whether the account number is a depreciation expense account or an accumulated depreciation account. For all assets that use the G/L expense account number shown in the General Ledger Account column, the Debit column shows the total depreciation expense from the last depreciation run. For all assets that use the G/L accumulated account number shown in the General Ledger Account column, the Credit column shows the accumulated depreciation which offsets the debit created by the depreciation expense from the last depreciation run. The totals for the Debit and Credit columns will be equal. 10. Click on the X in the upper right hand corner of the General Ledger Posting Report to close it. 11. Click Close to close the Report Definition dialog Sage Software, Inc.

87 Basic Sage Fixed Assets-Depreciation Section 4: Calculating Depreciation Lesson 4: Depreciation Calculations Fields Depreciation also updates several book fields. Current Through Date The system uses this field to show the date through which depreciation was last calculated. Depreciation calculations are initiated by the user. The system does not automatically calculate depreciation. When the system is requested to calculate depreciation on an asset, the field is updated. 168 Allowance Amount The system uses this field to display the additional: 30% allowance provided for under the Job Creation and Worker Assistance Act of 2002, 30% or 50% allowance under the Jobs and Growth Tax Relief Reconciliation Act of 2003, 50% allowance available in the Economic Stimulus Act of 2008, or the 50% or 100% allowance in the 2010 Tax Relief Act. Current YTD The system uses this field to display the current year-to-date depreciation amount for the asset through the current Through Date. As the system calculates depreciation on an asset, it automatically updates this field. Current Accum The system uses this field to display the asset's accumulated depreciation from the asset s placed-in-service date through the current Through Date, including any current year-todate depreciation. As the system calculates depreciation on an asset, it automatically updates this field. Net Book Value The system uses this field to display the current net book value for the asset through the current Through Date. Sage Fixed Assets-Depreciation updates the net book value when it updates current depreciation. Period Close Date The system uses this field to show the date through which depreciation values were last stored in a period close. Each time a period close is run, the system updates the period close fields with the information contained in the current fields. Period Close YTD The system uses this field to display the current year-to-date depreciation amount for the asset through the most recent period close date. Period Close Accum The system uses this field to display the asset s depreciation from the asset s placed-inservice date through the most recent period close date, including any period year-to-date depreciation Sage Software, Inc. 81

88 Section 4: Calculating Depreciation Basic Sage Fixed Assets-Depreciation Check Your Knowledge 1. What is the minimum time period for which depreciation can be run? 2. Sage Fixed Assets-Depreciation uses two dates to calculate the This Run column on the Depreciation Expense Report. What are they? 3. The Prior Through Date on the Depreciation Expense report represents what? 4. The Prior Accum Depreciation figure on the Depreciation Expense report represents what? Sage Software, Inc.

89 Basic Sage Fixed Assets-Depreciation Section 4: Calculating Depreciation Apply What You Have Learned Use a copy of the Westfields Bakery - Training to complete the following exercises. Exercise 1 Calculating Monthly Depreciation Calculate depreciation for April of 2012 (Internal Book only) What is the Depreciation This Run for: System #3 System # Sage Software, Inc. 83

90 Section 4: Calculating Depreciation Basic Sage Fixed Assets-Depreciation Sage Software, Inc.

91 Basic Sage Fixed Assets-Depreciation Section 5: Customizing Your System Section 5 Customizing Your System Description: In this section students learn how to create, and use a database; and how to create companies, set company settings, and customize fields and SmartLists. Objectives: By the end of this section, you will be able to: Create a Database Create a Company Customize Fields Create Smartlists 2012 Sage Software, Inc. 85

92 Section 5: Customizing Your System Basic Sage Fixed Assets-Depreciation Lesson 1: Database Concepts You can access Sage Fixed Assets-Depreciation and begin entering minimal data into the system the moment it is installed. However, you will get the most benefit from the software if you spend time planning and implementing the program, just as you would any other project. This section provides you with the tools needed to develop informed choices about your company and the Sage Fixed Assets-Depreciation program. The Sage Fixed Assets-Depreciation structure contains four elements: 1. The Database - a file 2. The Company 3. The Asset Group 4. The Individual Asset The Database Sage Fixed Assets-Depreciation stores asset data in a file called the database. A database stores data in a manner that makes it easy to search, sort, organize, and retrieve. The Sage Fixed Assets-Depreciation system may contain one or more databases. The Company In Sage Fixed Assets-Depreciation, a company is not necessarily a legal entity. A company is a collection of asset records you define. Assets are stored in companies for specific reasons: a division of a legal entity, a department, or simply a group of assets you want to manage in a specific manner. Companies are controlled by profiles and system default settings you set and can modify. One or more companies may exist in a single database. The Asset Group An asset group is a specific collection of assets within a company. Asset groups are created to simplify the processes of reporting, tracking, and managing assets. Groups are created based on search criteria, which are saved and recalled when needed. The Individual Asset An individual asset record contains the fields that identify each asset. Individual asset records are displayed in Groups; Groups are defined for asset records within a Company; a Company is created and defined in a Database; and a Database is created and stored in a Windows directory (folder) Sage Software, Inc.

93 Basic Sage Fixed Assets-Depreciation Section 5: Customizing Your System The model below demonstrates a visual image of the Sage Fixed Assets-Depreciation structure. The Database Company 1 Company 2 NOTE: Many databases and companies in databases can be in Sage Fixed Assets-Depreciation. Multiple groups can be created for companies. Individual assets can be found in more than one group. Groups are created for each company but can be copied from one company to another. Sage Fixed Assets-Depreciation Database Configurations The Sage Fixed Assets-Depreciation program offers three different database configuration options. The upper figure of assets is not a limit, but rather a point at which converting to the SQL Server version of the software will improve program performance. 1. Single-User Version: 0 to 10,000 + Assets (Sage Fixed Assets-Depreciation) User has full administrative control of databases. By default the database is stored on the local machine. Sybase Engine.bdb 2. Network Version: 0 to 10,000 + Assets (Sage Fixed Assets-Depreciation/Network Edition) User has full administrative control of databases. Database is stored and run on the server machine. Multiple users run the program as clients. Sybase Engine.bdb 3. SQL Server Network Version: 0 to 100,000 + Assets (Sage Fixed Assets-Premier Depreciation) User has no administrative control of databases. Database is stored and run on the server machine. Multiple users run the program as clients. SQL Server Engine.mdf 2012 Sage Software, Inc. 87

94 Section 5: Customizing Your System Basic Sage Fixed Assets-Depreciation Lesson 2: Creating a Database (Sage Fixed Assets-Depreciation) The database is the file in which Sage Fixed Assets-Depreciation data is stored. You can store one or more companies in one database. To optimize system processing speed and convenience, determine how many databases will be necessary to best suit your needs. Storing all your companies in one database is convenient because you can run consolidated reports with Report Writer. However, if the total number of assets in all companies in a database approaches or exceeds the figures listed above, expect the performance of the program to slow down. NOTE: Database administration differs between the Sybase and SQL version of Sage Fixed Assets. A Sage Fixed Assets user may create and manage a database in Sage Fixed Assets - Depreciation, but the SQL Database Administrator must create and manage databases in Sage Fixed Assets - Premier Depreciation. Sybase Users Only: Sage Fixed Assets - Depreciation contains a utility for managing databases. The utility is called the Database List Manager. It helps you create, delete, and rename databases. When creating a new database, keep the following in mind: Each Sybase database is identified with a standard extension of.bdb. When naming a database within the Sage Fixed Assets program, give it a unique name (i.e. a company name, client name). To create a new database (using Sage Fixed Assets - Depreciation): 1. Click the System Administration function button. 2. Click Open Database List Manager in the Manage Data section Sage Software, Inc.

95 Basic Sage Fixed Assets-Depreciation Section 5: Customizing Your System If you have a company open, the system displays a message informing you that the company must be closed. 3. Click Yes, if this message displays. The system displays the Database List Manager window. 4. Click the New Database button. The system displays the New Database window. Sage Fixed Assets-Depreciation Database Name: This is the name of the database as it is displayed in the Database field in your Sage Fixed Assets-Depreciation windows. 5. Type New Training Database as the Database Name Sage Software, Inc. 89

96 Section 5: Customizing Your System Basic Sage Fixed Assets-Depreciation Database File Name: This is the name of the file as it is displayed in the Windows Explorer program. Every database is a file. You do not need to enter a file extension; the system automatically adds a.bdb extension to the file name. 6. Type New Training Database as the Database File name or simply press tab or click in the field. Notice the directory path. This may not be the default directory, but in most cases should be the location of the database files (C:\Program Files\Sage FAS\Fixed Assets\ Data). Multiple database files can reside in the same directory but each must have a unique name. Database Location: This field is used to select the directory (folder) in which you want to store the database. Use the toolbar buttons to the right of this field to go to the last folder visited, to move up a level, to create a new folder, or to display the list of folders in a different format. 7. Keep the default of C:\Program Files\SageFAS\FAS Asset Accounting\Data to save the new database file in this location. 8. Click OK. The system displays the Database List Manager main window which shows the new database we just created. 9. Click on the database name to display and confirm the Database Path Sage Software, Inc.

97 Basic Sage Fixed Assets-Depreciation Section 5: Customizing Your System Lesson 3: Creating a Company A company is a collection of assets that are defined by the user. Assets should be placed in a company for specific logical reasons. Don t be confused by the dictionary or legal definition of the word company. In the Sage Fixed Assets-Depreciation system, a company is not necessarily a legal entity. A company can be a legal entity, a division of a legal entity or a department, or simply a group of assets defined by the user for a specific purpose, such as reporting. Creating a New Company To create a new company: 1. Click the System Administration function button. 2. Click Add a New Company in the Manage Companies section. If there is a company open, the system displays the following warning: 3. Click Yes Sage Software, Inc. 91

98 Section 5: Customizing Your System Basic Sage Fixed Assets-Depreciation The system displays the New Company window which contains a company information section followed by five tabs that deal with different settings of your new company, and a section for the selection of a database in which the company will reside. The most important fields are those related to book information. These fields set up your company so that Sage Fixed Assets- Depreciation can properly depreciate all assets in the company. To complete the company information section: Company Name This field is used to identify the company name using up to 32 characters. It must be unique for every company within a database. You must give each company a name. 1. Type Training. Identification Number (EIN) This field is provided to enter an Employer Identification Number. This number is used on the Tax Form Enter Sage Software, Inc.

99 Basic Sage Fixed Assets-Depreciation Section 5: Customizing Your System Business Start Date This field is used to indicate the start date of a company. This must be a date on or before the date the company s oldest asset was placed into service. With Sage Fixed Assets- Depreciation you may type the date in MMYYYY format. In Sage Fixed Assets-Premier Depreciation you may type a number for the month, day, and year. In either case you may use the calendar dropdown and select a date. 3. Enter (for Sage Fixed Assets-Depreciation). NOTE: The Business Start Date is the actual start date of a company. It is not the date you began using Sage Fixed Assets-Depreciation. The Start Date must be a date on or before the earliest asset. Starting System Number Transfer By Sage Fixed Assets-Depreciation assigns a unique system number to each asset added into the system. The system defaults to the number 1 and goes up to If you plan to set up multiple companies and are using the system number field to identify assets, your system numbers should remain unique. For example, Company A could start with system number 1, Company B could start with system number 10001, Company C could start with system number and so on. 4. Type for the starting system number. Sage Fixed Assets-Depreciation gives you the ability to transfer assets. You have the option of choosing which General Information field you would like to use when transferring assets. 5. Keep the default of Location in the Transfer By field. Round Reports to Whole Dollars? This field is used to specify whether or not the system will round dollar amounts to whole numbers for the Tax Forms and Worksheets reports. It does not affect calculations in the database or how numbers are displayed in the Standard and customized reports. It may be changed at any time. 6. Do not put a check in the box. Include Sec 168(k) & Sec 179 in expense This field is used to indicate if Section 168(k) and Section 179 deduction should be included as expense, along with other MACRS depreciation. If No is selected the 168(k) and Section 179 deductions will remain separately stated on the Standard Reports. If Yes is selected the deductions will be separately stated and included in current year-to-date depreciation. 7. Keep the default check in the box Sage Software, Inc. 93

100 Section 5: Customizing Your System Basic Sage Fixed Assets-Depreciation Book Defaults Information The first three Book Defaults Information tabs are used to set up the depreciation books. The last two tabs are information related to the company. Sage Fixed Assets-Depreciation allows the set up of as many as seven accounting books for each company in the system. However, you do not have to use all seven. TIP: It is recommended that you keep all books open, even if you don t plan to use a book. One exception could be that if a company began business in 1994 or later, you could close the ACE book. Here is a brief look at the seven accounting books available to you. Tax - Used for federal tax reporting Internal - Used for internal depreciation calculations (GAAP) State - Used for state tax reporting, emulates the Tax book AMT - Used for depreciation under the Alternative Minimum Tax rules ACE - Used for Adjusted Current Earnings depreciation Custom 1 - Used as an optional, user-defined book Custom 2 - Used as an optional, user-defined book The Book Defaults Tab To complete the Book Defaults Tab: Open Book Use this field to indicate whether or not you want to use a book for depreciation calculations. You may specify Yes or No. It is highly recommended that you choose Yes for each book when establishing a new company. Even if you do not want to use them all now, the information will be there if you need it later. We will close one book for demonstration purposes. 1. Select No from the drop down menu for the ACE book Sage Software, Inc.

101 Basic Sage Fixed Assets-Depreciation Section 5: Customizing Your System Book Title The system uses this field to identify the current book. Since Custom 1 and 2 are customized books, you may give them a unique name. 2. Change the Custom 1 title to Budget. Fiscal Year End Use this field to specify the last month of the company s first fiscal year, rather than the current fiscal year end. It may be different for each book. In this example, it would be the company s fiscal year end in Leave it at December, which is the default for all books. Emulate Book Use this field to specify whether or not you want to emulate another book s default information. When you enter data into the Tax book, the system automatically applies data to the other books based on GAAP principles or IRS rules and regulations that pertain to the destination book. In Sage Fixed Assets-Depreciation, this procedure is referred to as setting the book defaults. This feature is only effective if both the emulated book and the destination books are open. Book emulation is available for the Internal book, Books 6 and 7, and for the ACE book (the ACE book can only emulate the AMT book, and only for post 1993 assets). 4. Leave the default of None for the Internal, Budget and Custom 2 books. Default Method For any of your user-defined books and the Internal book, you can select a default depreciation method from the drop-down list provided. SL Straight-line, mid-month SF Straight-line, full month SH Straight-line, half year SD Straight line mod. half yr DB Declining-balance, switch to SL when optional DC Declining-balance, no switch to SL DH Declining-balance, half-year, switch to SL when optional DI Declining-balance, half-year, no switch to SL DD Declining-balance, modified half-year, switch to SL when optional DE Declining-balance, modified half-year, no switch to SL YS Sum-of-the-years-digits YH Sum-of-the-years-digits, half-year YD Sum-of-the-years-digits, modified half-year RV Remaining value over remaining life OC Your own depreciation calculation NO Do not depreciate 5. Leave the default settings for all books Sage Software, Inc. 95

102 Section 5: Customizing Your System Basic Sage Fixed Assets-Depreciation Enable Begin Fields Use this field to specify whether you want to allow users to manually enter beginning depreciation amounts for assets they are adding to the system. If you have been depreciating assets under a different system, you might want to enter those amounts so that Sage Fixed Assets-Depreciation can pick up where your old system stopped depreciating. TIP: Selecting No in the Enable Begin Fields field may increase the speed of data entry and may avoid accidental entries in the Beginning fields. 6. Leave the default setting at Yes for all books. NOTE: For SQL users only - Another field exists on the Book Defaults tab called Calendar Used. This field displays the name of the calendar used by each book. If the SQL version is being used, all Short Years and Fiscal Year Ends must be setup and modified by using the Calendar section. Contact Information Tab For clients who have a lot of companies or need to record a responsible party or contact at each company, the contact information can be recorded here. To complete the Contact Information tab: 1. Click the Contact Information tab. Contact Name 2. Type Tom Jones in the Contact Name field. Address 3. Type 123 Main Street in the Address field. City 4. Type Herndon in the City field. State 5. Type or select VA in the State field Sage Software, Inc.

103 Basic Sage Fixed Assets-Depreciation Section 5: Customizing Your System Zip Phone Fax County 6. Type in the Zip field. 7. Type in the Phone field. 8. Type in the Fax field. 9. Type USA in the Country field. The Notes Tab Use this page to keep any notes about the company that help record the purpose for recording fixed assets in this company. To complete the Notes tab: 1. Click the Notes tab. 2. Type This company was created as a class example of creating a new company. Database Information In Sage Fixed Assets-Depreciation you may create a new database while creating a new company by using the New Database button, to the right of the database field, and following the steps described in the Database section of this manual. Or you may select a database already created in which to store a new company. To complete the Database field: 3. Click the drop-down arrow to the right of the Database field. 4. Select Training, the database created in the Database section of this manual Sage Software, Inc. 97

104 Section 5: Customizing Your System Basic Sage Fixed Assets-Depreciation Using Copy Setup You can copy the company setup from an already existing company and apply it to a new company. All but the first 3 options can be selected any time after saving the new company. WARNING: The first 3 options can only be selected when creating a new company. 5. Click The Copy Setup Button. The system displays the Copy Setup window. 6. Select Training or <Default> in the Database field. 7. Select Westfields-Bakery - Training in the Source Company field. 8. Select the first 3 Options: Book Defaults, Short Years, and Book Overrides. 9. Click OK Sage Software, Inc.

105 Basic Sage Fixed Assets-Depreciation Section 5: Customizing Your System The system warns you that the new company s first 3 tabs will be overwritten. 10. Click No, since we are not going to copy the company settings from Westfields Bakery - Training. 11. Click Cancel to close the Copy Setup dialog. Saving Company Settings Once you have completed the field entries in the New Company window, you can save them with the new company. 12. Click the OK button at the bottom of the New Company window. The system will ask if you want to continue and create the new company. 13. Click Yes Sage Software, Inc. 99

106 Section 5: Customizing Your System Basic Sage Fixed Assets-Depreciation If the Company was created starting with the menus, the system displays the new company, open, but with no assets Sage Software, Inc.

107 Basic Sage Fixed Assets-Depreciation Section 5: Customizing Your System Lesson 4: Editing Company Settings You can close or open individual books at any time. Closing a book does not affect data already entered, but you will not have access to the data already contained in a book until the book is reopened. Also, the system will not enter default information in closed books. If a corporation is exempt from AMT (under the rules prescribed by the Taxpayer Relief Act of 1997), the AMT book should be closed, as well as the ACE book. The option to close a book is given during the process of creating a company, or you can choose to close or open a book by going into the Edit Company window. To edit company settings: 1. Click the System Administration function button. 2. Click Edit a Company in the Manage Companies section.: 2012 Sage Software, Inc. 101

108 Section 5: Customizing Your System Basic Sage Fixed Assets-Depreciation The Edit Company window is displayed. NOTE: After the first asset is added to Sage Fixed Assets-Depreciation, the only setting you may not change is the Starting System Number The Edit Company window can be used to change company data. For illustration purposes, we will close the Custom 1 book. 3. Click on the down arrow and select No, in the Book Defaults tab and the Open Book row of the Custom 1 book. 4. Click OK to close the Edit Company window. 5. Click Assets in the Function buttons. 6. Click Add an Asset in the Tasks list Sage Software, Inc.

109 Basic Sage Fixed Assets-Depreciation Section 5: Customizing Your System 7. Go to the Asset Detail of any asset and you will see that the Custom 1 book has been closed and is now displayed to the far right of the other books. To reopen the book: 1. Select File then Edit Company from the drop down menu, and the Edit Company window is displayed. Do not save the new asset record you are viewing. 2. In the Book Defaults tab of the Edit Company window, go to the Open Book? row of the book Custom 1. Click on the down arrow and select Yes. 3. Click OK to close the Edit Company window. You will see that the Custom 1 book is open and is now back in its original position before the Custom 2 book. NOTE: When a closed book is opened, the book fields will not contain the default values for any assets entered while the book was closed Sage Software, Inc. 103

110 Section 5: Customizing Your System Basic Sage Fixed Assets-Depreciation Using Copy Setup after a company has been created. Most of the settings may be copied from one company to another using Copy Setup. To copy the settings from Westfields-Bakery - Training: 1. Open the File drop down menu, and select Edit Company. 2. Click the Copy Setup button. 3. Select the Westfields-Bakery - Training company as the Source. 4. Check all the available Options except Replacement Value. NOTE: For a company that has been created and saved, the option to copy the Book Defaults, Short Years, or Book Overrides from another company are no longer available. Custom Depreciation Methods SmartLists Click this check box to copy any custom depreciation methods into the new company you are creating. If you are copying the setup into an existing company that contains custom methods with the same custom method codes as those you are copying, the already existing methods are not overwritten. Click this check box to copy any SmartLists from the source company into the new company you are creating. If you are copying the setup into an existing company that contains SmartLists for the same fields in the company you are copying, the existing SmartLists are overwritten Sage Software, Inc.

111 Basic Sage Fixed Assets-Depreciation Section 5: Customizing Your System Custom Fields Click this check box to copy any custom fields from the source company into the new company you are creating. Custom fields include View, Title, Entry Mask, Default, Entry Order, and Message. Customized Reports Templates Click this check box to copy any customized standard reports from the source company into the new company that you are creating. If you are copying customized reports into an existing company that contains customized reports with the same name, a numeric suffix is applied to create a unique report name. Click this check box to copy any Templates from the source company into the new company you are creating. If you are copying the setup into an already existing company that contains duplicate names for templates existing in the company you are copying, the duplicate existing templates are overwritten. Image Catalog Click this check box to copy the Image Catalog from the source company into the new company you are creating. If you are copying the setup into an already existing company that contains duplicate names for images existing in the company you are copying, the duplicate existing images are overwritten. Group Definitions Click this check box to copy group definitions from the source company into the new company you are creating. If you are copying the setup into an already existing company that contains duplicate names for groups existing in the company you are copying, the duplicate existing groups are overwritten. Batch Report Definitions Click this check box to copy batch report definitions into the new company you are creating. If you are copying the setup into an already existing company that contains duplicate names for batch reports existing in the company you are copying, the duplicate batch report definitions are overwritten. Replacement Value Click this check box to copy the information from the Replacement Value window, including the RV Setup page, the RV Index page, and the Estimated Life Override page. The calculated Replacement Value or Replacement Value override information pertaining to individual assets is not copied. 5. Click OK to close the Copy Setup window. 6. Click OK to close the Edit Company window. 7. Click Yes, to close the warning about overriding data in the fields Sage Software, Inc. 105

112 Section 5: Customizing Your System Basic Sage Fixed Assets-Depreciation Lesson 5: Customizing Fields One of the more versatile aspects of Sage Fixed Assets-Depreciation is the ability to customize its fields. It is probable that if you created the Sage Fixed Assets-Depreciation program, field names might be different, you might have allowed more characters entered in certain fields, or perhaps you wouldn t have created some fields at all. General Information vs. Book Information fields There are two types of fields used in Sage Fixed Assets-Depreciation: General Information and Book Information. Book Information fields affect an asset s depreciation calculation (i.e. Estimated Life, Depreciation Method) whereas General Information fields assist in classifying, reporting, or organizing data (i.e. Location, Custodian, G/L Asset Account Number). Customizing can only be done to General Information fields. Field entries are critical when creating groups, conducting searches, and performing many other functions. By clicking the drop-down list in many fields, a list of available entries is displayed. We call this display a SmartList. Sage Fixed Assets-Depreciation gives you the ability to create and edit your own SmartLists. You can fully customize most General Information fields (i.e. Class, Custodian, Department, etc.) Some fields will not allow the creation of a SmartList. (i.e. Custom Date 1, Custom Date 2, Override RV, Replacement Value) If the predefined field titles are not appropriate for your company, change them. To create or modify fields: 1. With the Westfields Bakery - Training company open, in the Customize task list, select Customize a Field or from the drop down menus, select Customize>Customize Fields. OR OR Sage Software, Inc.

113 Basic Sage Fixed Assets-Depreciation Section 5: Customizing Your System The Customize Fields window is displayed. We will be editing Custom Field 7. The Customize Fields window Asset Field View The left-hand side of the Customize Fields window lists all fields that can be customized. The right-hand side of the window lists various profiles set for the field selected (highlighted) on the left. Most fields can be customized based on your individual needs. This list is used to select a field you want to edit or for which you want to create a SmartList. 2. Click Custom Field 7. This field is used to select the entry parameters. The choices are: 1) Allow Entry-no restriction or requirement Sage Software, Inc. 107

114 Section 5: Customizing Your System Basic Sage Fixed Assets-Depreciation 2) Require Entry-this field value must be entered on a new asset before the asset can be saved. An asset entered prior to this setting will not require an entry unless the asset record is saved or the cursor enters this field. 3) View Only-this field is locked for current entries and no subsequent entry can be made while this field is set to View Only. 4) Hide-the field will not display. Any previous entry is not lost and can be displayed later with a choice of any of the other settings. 3. Select Allow Entry. Title Entry Mask Default Message This field is used to specify the field name. When you change the name of the field, the name changes everywhere in the displays except in the field list on the Customize Fields window, shown on the previous page. You may type up to 18 characters for the name, including spaces. 4. Type Data Entry By. This field is used to choose the maximum amount of characters and whether they are numbers, letters, or a combination. You may use either all X s as placeholders or a combination of 9 s and N s with or without other characters which will display as they are typed but will not be part of the value stored in Sage Fixed Assets-Depreciation. X s represent a placeholder for any character. (Letters, numbers, and any character your keyboard can generate.) 9 s represent numbers. (0,1,2,3,4,5,6,7,8,9) N s represent alphanumeric characters. (Letters and numbers) 5. Leave the default of 25 X s. This field is used to enter a default entry that the system automatically enters every time a user creates a new asset. The user can, of course, override the default by simply entering another value. 6. Type (your name). This field is used to describe what the field is for. The system displays this message in the status bar on the main system window to provide the user some direction. 7. Type Select or enter the name of the initial data entry person Sage Software, Inc.

115 Basic Sage Fixed Assets-Depreciation Section 5: Customizing Your System Entry Order This field is used to select the order in which the field will appear in the General Information fields. 8. Keep the order of 25th for this field. 9. Click OK. 10. Click Add an Asset in the Tasks. 11. Look in the General Information fields to where Custom Field 7 was. The field title Data Entry By: will now appear with the default entry of your name in the General Information section of the Asset Detail view in the place of Custom Field Click Save Asset to save this demo asset. NOTE: You may even save an asset record which is completely blank. 13. Click the Asset List button, go to the bottom of the asset list, and scroll to the right to the Data Entry By: field to see your name entered in the asset record Sage Software, Inc. 109

116 Section 5: Customizing Your System Basic Sage Fixed Assets-Depreciation Lesson 6: Creating SmartLists SmartLists provide consistent and valid field entries from which users can select data. This function allows you to provide consistency in your data and makes data entry more efficient. For example, one user will probably provide the names for each office location. What if the name for a particular location is abbreviated? Will other users abbreviate the location in the same manner? The example below illustrates what might happen. Dallas Dal-Ft. Dal-FW DFW D/FW D-FW Dal-FW In addition to the aesthetic problem, you could not perform accurate sorts or create valid groups with these types of entries. To help avoid this situation, a SmartList can be created. To create a SmartList: 1. With the company named Westfields Bakery - Training Class open, from the Customize task list select Customize a Field or from the drop down menus, select Customize>Customize Fields. OR Sage Software, Inc.

117 Basic Sage Fixed Assets-Depreciation Section 5: Customizing Your System The Customize Fields window is displayed. NOTE: Select each field separately from the Customize Fields, Asset Field list to Activate the Smartlist for that field and open the Smartlist Manager window. The Activate SmartList check box is only available when a SmartList is appropriate (i.e. there are no SmartLists for date fields). The Activate SmartList check box must be checked to activate the SmartList Manager button and open the window. 2. Highlight Custom Field Select the box next to Activate SmartList? 4. Click the SmartList Manager button Sage Software, Inc. 111

118 Section 5: Customizing Your System Basic Sage Fixed Assets-Depreciation The SmartList Manager - Custom Field 7 window is displayed. List Manager window selections Enter new name and description Description Add Button This field is used to type the valid entry you want to have the option of selecting from the SmartList when creating or editing an asset. 5. Type your name and press the Tab key. This field is used to provide more detail about the SmartList entry. 6. Type Accountant 1. This button is used to add an entry to the SmartList. 7. Click the Add button. 8. Type in the new name Sue Smith with the description of Accountant 2 9. Click the Add button to add it to the SmartList Sage Software, Inc.

119 Basic Sage Fixed Assets-Depreciation Section 5: Customizing Your System Replace Button Use this button to replace the selected SmartList entry with another entry you have created. If the SmartList entry you are replacing has already been used for an asset, a message is displayed informing you of the number of existing assets in the current company that could be affected by the change. You then have three update options available: Keep the original entry - This option button is used to keep the original entry in the field for existing assets, but still replace the entry in the SmartList. Blank the original entry - This option button is used to remove the original entry from the field for existing assets and leave it blank. Globally replace the original entry - This option button is used to replace the original entry in the field with the new entry for all existing assets. The last choice is especially useful if you are globally replacing a field value with another value and also need to make a smartlist change so that the new enter is the field choice available in the future. 10. Type in the new name Paul Jones with the description Accountant Select Paul in the Name field. WARNING: This step is very important. Whichever line is selected will be the one replaced by the next step. 12. Click the Replace button. A warning to select the effect of this change on current data is displayed. 13. Select Globally replace the original entry. 14. Click OK Sage Software, Inc. 113

120 Section 5: Customizing Your System Basic Sage Fixed Assets-Depreciation The Smartlist entry is replaced and so is the data in that field. Delete Button This button is used to delete the selected SmartList entry. If the SmartList entry you are deleting has already been used for an asset, a message is displayed informing you of the number of existing assets in the current company that will be affected by the change. You then have two update options available: Keep the original entry - This option button is used to keep the original entry in the field for existing assets, but still delete the entry from the SmartList. Blank the original entry - This option button is used to remove the original entry from the field for existing assets and leave it blank. 15. Select the name Susan Smith. 16. Click the Delete button. The Susan Smith entry is deleted. 17. Click Close, to close the SmartList Manager. 18. Click OK, to close the Customize Fields dialog Sage Software, Inc.

121 Basic Sage Fixed Assets-Depreciation Section 5: Customizing Your System 19. Open the company Westfields Bakery - Training in which there is already data. 20. Click Customize Fields in the Customize section of the Tasks. 21. Highlight Custom Field 2 (Model #). 22. Check the Activate SmartList? check box. 23. Click the SmartList Manager button. The SmartList Manager - Custom Field 2 is displayed. 24. Click the Fill button Sage Software, Inc. 115

122 Section 5: Customizing Your System Basic Sage Fixed Assets-Depreciation Fill Button This button is used to create a SmartList from all previously existing data in this field. One entry will be made in the smartlist for each unique value found in the field. This feature is very useful when data has been imported from another system. The following message is displayed. 25. Click Yes. Notice that the Name list fills with each unique entry in the field from the asset data. You may add descriptions here if you want or delete any values that you may not want to use in the future and shouldn t be a part of the SmartList. Delete All Button This button is used to delete all SmartList entries from the list. WARNING: Please be very careful when using this option, especially if descriptions have been entered in the SmartList, because they will be deleted also and must be retyped. If the SmartList entries you are deleting have already been used for an asset, a message is displayed informing you of the number of existing assets in the current company that will be affected by the change. You then have two update options available: Sage Software, Inc.

123 Basic Sage Fixed Assets-Depreciation Section 5: Customizing Your System Keep the original entry - This option button is used to keep the original entries in the field for existing assets, but still delete all the entries from the SmartList. Blank the original entry - This option button is used to remove the entries from the field for existing assets and leave them blank. WARNING: This will erase any data that is currently stored in the field. 26. Click the Delete All button. The Delete All Field List Entries dialog is displayed. 27. Click OK, keeping the original entries in data. WARNING: Be careful not to select Blank the original entry before clicking OK, unless you want to delete all values in your data contained in that field. The SmartList Manager - Custom Field 2 returns to no entries. 28. Click Close, to close the SmartList Manager - Custom Field 2 dialog box Sage Software, Inc. 117

124 Section 5: Customizing Your System Basic Sage Fixed Assets-Depreciation 29. Select the G/L Accum Account field in the Customize Fields dialog. 30. Click the SmartList Manager button. The SmartList Manager - G/L Accum Account is displayed Sage Software, Inc.

125 Basic Sage Fixed Assets-Depreciation Section 5: Customizing Your System List Attributes You may select the attributes you want applied to your SmartList: Display description - This check box is selected if you want to display the description beside the valid entry. This is extremely useful for fields where you are using codes instead of full names for field data. This option is checked by default. 31. Keep the default checked. Auto drop list - This check box is selected if you want the system to automatically open the drop-down list box whenever the cursor is in the field. WARNING: This option is very useful for data entry but can be dangerous when browsing data using the arrow keys. 32. Keep the check. Quick lookup - This check box is selected if you want the option to type only the first three characters of an entry in the drop-down list box, the system quickly finds the first entry that matches the first three characters in the alphabetized SmartList. 33. Keep the check. Entry Options These are radio buttons which means you will be allowed only one of the options. Restrict entry to list- This check box is selected if you want to only be able to enter data in a field by using an entry from the SmartList. 34. Keep the check. Auto add entry to list - The Auto add selections are used to describe how you want the system to react when values are entered in the field that are not in the current SmartList. No Auto Add - This option is selected if you want to be able to make entries, that are not on the SmartList, into the selected field, but you don t want the system to add those entries to the SmartList. Confirm auto add - This option is the default and is selected if you want to be able to make entries, that are not on the SmartList, into the selected field, and you also want Sage Fixed Assets-Depreciation to add the entry into the Name part of the SmartList after you confirm it. If you want descriptions on these values, you will need to add those in the SmartList Manager. Auto Add Always - This option is selected if you want to be able to make entries, that are not on the SmartList, in the selected field, and you also want Sage Fixed Assets-Depreciation to automatically add the entry into the SmartList every time without confirmation. 35. Click Close to close the List Manager - G/L Accum Account dialog Sage Software, Inc. 119

126 Section 5: Customizing Your System Basic Sage Fixed Assets-Depreciation SmartList Report A report can be printed that shows the SmartList selections for any field for which a SmartList has been created. To print a SmartList report: 1. Highlight Class, the field for which you want to print the SmartList report. 2. Click the SmartList Manager button. The system displays the SmartList Manager - Class window. 3. Click the Print button. SmartList Report Sections The SmartList report contains three sections: Field Customizations: This section of the report displays the contents of the following fields on the Customize Fields window for the selected field: Title field View field Entry Mask field Default field SmartList Manager: This section of the report displays the following information for the selected field: List of available SmartList entries Description of each available SmartList entry Total number of available SmartList entries Sage Software, Inc.