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John Bouquet

Acquisition Reports

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In December 2022, we paid a 40% deposit on an asset and I added this asset to Sage. The asset was added but depreciation was not set to begin until January 2023. At the end of the year 2022, I ran an acquisition report and the asset appeared with the 40% deposit balance as planned. In January 2023, we added the remaining 60% deposit to the same asset #. When I run an acquisition report in 2023, this asset does not pop up. The entire balance shows when i run the 2022 acquisition report even though 60% was added in 2023. What should I have done differently to make my acquisition report clean- break it out into 2 different asset #'s? This asset started depreciating in January 2023. Is there a way to make do a clean break to have my acquisition report in 2022 show the 40% balance and my acquisition report in 2023 report show the 60% deposit?

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    Hello John,

    There is the Fixed Asset Summary report which, based on the Acquisition date, will put assets with a current year Acquisition date in the Acquisition column or you can create a group on a date range on either the Acquisition date or the Placed-in Service date so that only assets within that date range will appear on any report, see How to run report for current year additions (17893) for details, but there is no report in the program specifically design as an “acquisition report”.

    So, then the questions become: What report are you running? What is the Acquisition date and the Placed-in Service date on the asset? And what is the criteria in your group?

    Still, you are not going to see 40% and then 60% of the value in a single asset as two acquisitions. A change to the value is not seen by the program as it was one thing and now it is another. The program will only see the whole value as an acquisition according to the dates in the asset.

    You would have to have 2 assets entered under the appropriate dates to see the values appearing at two different times as an acquisition.

    ~Delray

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    Thanks for the explanation. I'll keep this in mind as we capitalize assets that cross years. I created a group based off acquisition date. When i created the initial asset for the 40% deposit, I set the acquisition date to be 12/2022. When I updated the acquisition value in January 2023 for the remaining 60%, the acquisition date stayed in 2022 for that asset. To make things tricky, the asset started depreciating in January 2023. Is there a clean way to break these assets into 2 so that my acquisition reports are accurate?

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    You can split the asset, see How to split a bulk asset, but would not changing the Group criteria to be on Placed-in service date have the same effect on your report?

    ~Delray

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    Unfortunately no, I am trying to tie out a fixed asset roll forward schedule. I think splitting the asset may work, but I don't see the option to manually adjust the depreciation on the replicated asset. I can adjust the acquisition value, not not depreciation amounts. 

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    That part does not apply unless there is already Beginning information on the asset. These are new assets so they should not have beginning information.

    ~Delray

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