integrating fully depreciated assets

SUGGESTED

We acquired a company where all the assets were fully depreciated. I am trying to add the fully depreciated assets to our Sage Fixed Assets program.  How do I add an asset with value that is already fully depreciated?

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  • 0
    SUGGESTED

    Hi JCampanella,

    Create the asset record as you ordinarily would, entering the information as appropriate for the General and Book information fields.  But to indicate to the program that the asset is fully depreciated, you will also need to complete the Beginning fields.  These are fields that you normally leave blank when creating a new asset, one that has never been depreciated.

    In this case, however:

    • The Beginning Date should equal the date the asset became fully depreciated.  (The date should indicate the end of the month, e.g., 12/31/2022.)
    • The Beginning Accum field should equal the acquisition value.
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  • 0
    SUGGESTED

    Hi JCampanella,

    Create the asset record as you ordinarily would, entering the information as appropriate for the General and Book information fields.  But to indicate to the program that the asset is fully depreciated, you will also need to complete the Beginning fields.  These are fields that you normally leave blank when creating a new asset, one that has never been depreciated.

    In this case, however:

    • The Beginning Date should equal the date the asset became fully depreciated.  (The date should indicate the end of the month, e.g., 12/31/2022.)
    • The Beginning Accum field should equal the acquisition value.
Children