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Nicole Malzone

adding old assets to SAGE

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Hello,

I added many old assets to SAGE but I'm still struggling with the older assets that are on their second half of life. For example, my building that was put into service in in 1991 is only 32 years through its 50 years but when I put in 18 years of useful life I get 0 depreciation. But if I put 50, the system doesn't seem to be smart enough to realize that those 32 years have already passed so it does it evenly over 50 years. Do you have any recommendations for these types of assets?

As a comparison, my building improvement that was put into service in 2015 with a useful life of 30 years, I set the useful life as 22 years in SAGE and it is able to calculate that correctly.

Thank you in advance!!!!

-Nicole

  • 0
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    Hi Nicole!

    Judging by your question, I will assume you are attempting to calculate depreciation as of 2023. If that is the case, I would recommend filling out the asset information with the actual life (not remaining life) and utilizing the beginning depreciation fields. The beginning depreciation fields are used for a bunch of different reasons, but one of them would be for adding assets with prior depreciation amounts. You can set your beginning depreciation date to whatever you would like (month end) and adding the beginning depreciation amount that corresponds to that beginning date. Going forward, Sage will calculate depreciation off of the remaining basis available. Depending on the depreciation method you are using, you may need to also utilize the adjustment report to ensure all balances are depreciated by the end of the assets life. 

  • 0 in reply to Cody Dougherty

    Thank you Cody, this is super helpful! If I want to do this with a bulk import, do you know if the "G/L Accum Account" field would be the one I'm looking for to upload the beginning depreciation?

  • 0 in reply to Nicole Malzone
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    Hello Nicole, 

    I'm back from my PTO finally.

    If you are looking to import accum depreciation, you will need the import that information into the Beginning date and Beginning Accum fields. See the TO IMPORT ENDING ACCUMULATION: in How to do a custom import article.

    ~Delray

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