The Sage 100 Fixed Assets module provides a powerful tool for tracking assets, calculating depreciation, and automatically allocating depreciation and disposal entries in the general ledger.
- Transfers and Disposals – Execute partial and whole asset transfers and disposals individually to user-defined depreciation schedules. For bulk disposals, the system automatically calculates gain/loss on individual assets.
- Group Manager – Group Manager lets you define groups of assets as you go. Definitions can be based on any characteristic, including type, location, custodian, and acquisition date.
- Asset Templates – Templates provide you with an easy way to create a new asset. When a new asset is purchased, the selected template automatically fills out the asset information.
- Asset Views – See details of a single asset from all seven books on a single screen using the Asset Detail View. You can also work with and view multiple templates simultaneously through Asset Group View.
- Asset Images – Store asset photos, purchase orders, maintenance agreements, warranties, invoices, and other documentation in the asset file and view them on screen at any time. These images provide you with a complete and readily accessible record of all asset data.
- Asset Navigation and History – In addition to the powerful query capabilities at your fingertips, Fixed Assets provides you with the means to instantly switch between Main and Disposal functions, a complete audit trail of the major events in an asset’s life, and the facility for you to attach notes and record important details.
- Reporting and Tax Forms – More than 30 standard reports are available, each allowing user-defined sort and range criteria on all fields. Plus, print ready-to file IRS tax forms or worksheets, including IRS forms 4562 and 4794.
- Online Help – Instant, context-sensitive online Help is always available to you. Also, customizable Help for online corporate guidelines can be easily added.
- Extra Security – Ensure complete security at user, user-defined menu, system, and company levels to protect important or proprietary data from unauthorized access or manipulation.
- Easy to Use – Fixed Assets utilizes an intuitive interface that’s easy to implement, learn, and use. Asset templates ensure that you can create new assets quickly and accurately.
- Reduce Errors and Improve Efficiency – Choose from more than 50 methods of depreciation to automatically create AMT and ACE schedules or create customized methods in each company.
- Compliance – Simplify Sarbanes-Oxley compliance for your business with custom-tailored security features and an advanced audit trail that red-flags potential compliance issues.
- Built-In Security – Password security at the user level also includes fully controlled access to user-definable SmartLists for fewer data entry errors.
Sage 100 Fixed Assets Frequently Asked Questions
1. Q: What is a fixed asset?
A: Those items acquired by a business for use in its operation that are not for resale. For example: equipment, furniture, fixtures, software, vehicles, etc.
2. Q: Why should I track my fixed assets?
A: Since taxes and insurance can be based on the value of your fixed assets, you may be able to reduce costs. Accurate valuation is important to help avoid overpaying taxes or violate Internal Revenue Service (IRS), Generally Accepted Accounting Principals (GAAP) or Sarbanes-Oxley (SOX) regulations. As the value of fixed assets decreases over time, it is important to quickly and correctly calculate the depreciation of each item.
3. Q: How will using Sage 100 Fixed Assets help my business?
A: Tracking your fixed assets through the Fixed Asset module will help ensure that you are in compliance with IRS, GAAP, and SOX regulations. Traditional methods of tracking fixed assets rely on the creation of spreadsheets with complex calculations that must be modified frequently due to constantly changing IRS rules. Data from these spreadsheets must then be transferred to the General Ledger, often resulting in entry errors, and consuming valuable resources. The result of this process is usually overpayment of taxes and insurance. Sage 100 Fixed Assets offers a comprehensive set of tools that will streamline entry of fixed assets, correctly apply regulations, and synchronize data with your General Ledger automatically.
4. Q: I keep detailed records of my fixed assets on spreadsheets. Isn’t that enough to meet IRS and SOX regulations?
A: Spreadsheets do not conform to SOX, and are labor intensive to enter data and update calculations. Additionally, no matter how detailed your spreadsheets are, if you don’t have an initial accurate inventory of your fixed assets and update your formulas when regulations change, your calculations will be invalid.
5. Q: Can Sage 100 Fixed Assets help meet Sarbanes-Oxley (SOX) requirements?
A: Fixed Assets can help ensure SOX compliance and provide you with an auditable record of all fixed assets transactions. Fixed Assets provides five (5) key elements to meet SOX regulations; (1) Security through the use of permissions and profiles, (2) Disaster Recovery by allowing data back-ups for offsite storage, (3) Audit Trail with configurable settings of history tracking to best meet your needs, (4) Data Accuracy which is made simple through the use of SmartLists and Templates to enforce policies, and (5) Review of Data for Anomalies via the Audit Advisor feature which provides information on complex or vague rules.
6. Q: Sage100 Fixed Assets is new to the market, can I really trust it for my business?
A: While Fixed Assets is a new module for the Sage 100 product line, it is based on the #1 Fixed Asset Management software, Sage Fixed Asset Solutions. We have taken the expertise and experience of Sage FAS and designed a module specifically for Sage 100 users.
7. Q: As a Sage 100 user, why should I purchase Fixed Assets rather than buying direct from Sage FAS?
A: Fixed Assets was specifically designed for the needs of Sage 100 users and offers a comprehensive feature set, seamless integration to Sage 100 (it can launch directly from within the Sage 100 task bar), and it is packaged at a price that is very competitive. Additionally, because Fixed Assets is a module within Sage 100, it is covered under the maintenance plan. This means that you will be able to call the same support number for both Sage 100 and Fixed Assets and receive a single maintenance bill (no separate contracts to manage).
8. Q: When will Sage 100 Fixed Assets be available?
A: ixed Assets will be released in conjunction with Sage 100 in late Q1, 2007.
9. Q: How much does Sage 100 Fixed Assets cost?
A: The Fixed Asset module costs $1500. This provides support for up to 1500 assets and matches the existing number of Sage 100 user seats.
10. Q: What are the options for a company currently using Sage FAS and Sage 100, but have less than 1500 assets?
A: For companies with less than 1500 assets, you can choose either the new Sage 100 module for v4.2 which supports up to 1500 assets, or Sage FAS 50 which supports up to1000 assets. Sage will offer a credit to those customers currently on Sage FAS 50 who want to migrate to Fixed Assets (a credit of $495 toward Fixed Assets $1500 SLP). All data from the FAS 50 product will remain available in Fixed Assets if the proper steps are followed. (See FAS 50 documentation for back-up and restore steps.)
11. Q: What are the partner margins for Sage 100 Fixed Assets?
A: The margins for Fixed Assets will follow established MMD and Sage tier guidelines. The margins for Maintenance will be capped at 18% of the amount charged for Maintenance to the customer. Where BP margins are lower, the lower percentage will apply.
12. Q: What is the maintenance pricing for Sage 100 Fixed Assets?
A: Annual maintenance is $375 and will be included in the regular Sage 100 maintenance contract. Customers will receive just one bill for both products.
13. Q: What is the Support price for this new module?
A: Support for Sage 100 Fixed Assets is covered under the Sage 100 Support plans (see Support for plan details). There is no separate support specific to Fixed Assets.
14. Q: What features come with the Sage 100 Fixed Asset module?
A: Features included are: up to 1500 assets, over 300,000 built-in depreciation rules, 24 standard reports & tax forms, Audit Advisor, multi-user security, asset transfers & partial disposals, the ability to store electronic asset images, more than 50 depreciation methods, and of course seamless integration to Sage 100.
15. Q: Can Sage 100 Fixed Assets be customized to fit my business?
A: Fixed Assets allows users to customize the module to better suite their individual needs. Custom capabilities include support for more than 18 user-defined asset fields, user-definable SmartLists for reduced entry errors, and security defined at the user, system, and company levels.
16. Q: What are the requirements to sell the Sage 100 Fixed Assets module?
A: You must be a certified Sage 100 business partner.
17. Q: Is training available for Business Partners?
A: The Sage 100 Fixed Assets module will be covered in the v4.2 training.
18. Q: How will the mid-year Sage 100 Fixed Assets updates be distributed?
A: There will typically be two updates per year for Fixed Assets. These account for changes in tax laws and also provide functional enhancements. Updates will be made available for either download or through physical media.
19. Q: Will FAS Link still be available to integrate Sage MAS 90 or 200 and FAS 100 and 500?
A: Yes, the FAS Link will still be available to support Sage MAS 90 and 200 integration to the existing Sage FAS products.
20. Q: I have customers who are currently using the FAS Select product that was sent out with a previous version of Sage 100. Will this be compatible with Sage MAS 90 and 200 4.2?
A: FAS Select is no longer supported with Sage MAS 90 and 200 4.2. With the addition of the new Fixed Assets module, customers can continue to track their fixed assets and stay current with annual tax law changes. This new module is fully integrated to the MAS 4.2 product (including support and maintenance eplans). You will be able to pull Select assets information into the new Fixed Assets module.