Sage Fixed Assets Caribbean Conference customer edition


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Sage Fixed Assets Caribbean Conference customer edition

  1. 1. Sage Fixed Assets Leanne Lowe, Sage Sales Engineer
  2. 2. Agenda• What is a Fixed Asset…And Why Does Anyone Care?• Sage Fixed Assets Depreciation and Reporting• Unexpected Benefits of Proper Fixed Asset Management• Demonstration 2
  3. 3. What Are Fixed Assets? Items acquired by a business for use in its operation that are not for resale. 3
  4. 4. Why Should I Care?• Taxes & Insurance Based on Value of Fixed Assets – Important to Have Accurate Calculations – Don’t Overpay Taxes or Break IRS/GAAP/SOX Regulations• Value of Fixed Assets Decrease Over Time – Calculated Through Depreciation• Many Methods for Calculating Depreciation – Over 300,000 Rules Built Into Sage Fixed Assets Products 4
  5. 5. Depreciation Calculations Complexity Continues to Increase Annually – Tax Laws Constantly Changing $5,000 Increasing in Complexity Straight-Line with OverMethod Methods 50 Depr. $4,000 Accelerated Methods Depreciation with (not quite this bad…yet)Value (ex.50% Allowance Declining Balance) $3,000 $2,000 $1,000 $0 0 1 2 3 4 5 Useful Life (years) 5
  6. 6. Sage Fixed Assets History• Fixed Asset Management Software Since 1982 – Sage Offices in Herndon, VA dedicated to Sage Fixed Assets development – Acquired by Sage in 2000 with Abra & Analytics• Over 100,000 Installed Customer Sites – Including Businesses in U.S. & Canada, Governments, & Nonprofits• #1 Fixed Assets Management Software – Chosen 3-to-1 over competition combined – Used by all top 15 accounting firms in the United States 6
  7. 7. Sage Fixed Assets Benefits Regulatory Compliance • Are You Ready for Your Next Audit? – IRS, GAAP, GASB 34/35, Sarbanes-Oxley, IFRS • Spreadsheets Not Best Tool for Regulatory Compliance Saving Time – No Third-Party Oversight – Not Automatically Updated with Latest Rules – Lack Security & Assistance with Disaster Recovery • Saving Fixed Assets Products Make Compliance Easy Sage Money – Over 300,000 IRS & GAAP Rules Built-In – Constantly Updated with Latest Regulations 7
  8. 8. Sage Fixed Assets Benefits Saving Time • Spreadsheets Time Consuming & Error Prone – Manually Enter Assets – Limited Reporting Capabilities – Manually Posting to G/L – CIP Projects Extremely Labor Intensive • Sage Fixed Assets Products Automate Entire Fixed Asset Lifecycle – Automatically Add or Easily Import New Assets – Custom Reports with the Click of the Mouse – Seamless Posting to the General Ledger 8
  9. 9. Sage Fixed Assets Benefits Saving Money • Eliminate Ghost Assets – Lost, Stolen, or Unusable Assets – Cause Overpayments in Taxes & Insurance • Sage Fixed Assets Offers Quick Return on Investment – Easily Conduct Regular Inventories – Better Manage Asset Additions, Disposals, and Transfers – Track Capital Project Spending Against Budget 9
  10. 10. “Ghost Assets” What percentage of lost, stolen, or unusable fixed assets does the average company have on their books? AMR 30% a. < 5% IM Solutions b. 5% to 9% 21% c. 10% to 14% d. 15% to 30% Paragon Systems 15% - 30% e. > 30% 10
  11. 11. Sage Fixed Assets ROI Example Our Organization: Total Cost of Fixed Assets $2,000,000 SUMMARY Number of Fixed Assets 2,000 Average Cost Savings Total First Year $1,000 $53,340 Assumptions: Sage Fixed Assets Rate of “Ghost Assets” 15% Complete Pack - $4,585 Value of “Ghost Assets” $300,000 1 Year Support Plus __________________________________ - $1,485 Overpayments: Costs Total Software - $6,070 State & Fed Tax (40% remaining value @ 36%) $43,200 Personal Property (70% value @ 34%) Net First Year Savings $7,140 $47,270 Insurance (0.01 per $1 value) ROI Period ____________________________________ $3,000 2 Months Total First Year Overpayments $53,340 11
  12. 12. Sage Fixed Assets History• Fixed Asset Management Software Since 1982 – Sage Offices in Herndon, VA dedicated to Sage Fixed Assets development – Acquired by Sage in 2000 with Abra & Analytics 12
  13. 13. #1 Fixed Asset Management SoftwareChosen 3-to-1 over competition combinedUsed by all top 15 accounting firms in the United StatesOver 100,000 Customers Use Sage Fixed Assets Including Businesses in U.S. & Canada, Governments, & Nonprofits 13
  14. 14. Fixed Asset Lifecycle Management Construction Challenge: Enable project managers and fixed asset accountant to organize, track, and monitor project details and financials while completing fixed asset construction in progress. Solution: Sage Fixed Assets-Planning Comprehensive Reporting Acquisition and Inventory Challenge: Maintain compliance with Challenge: Enable an accurate baselinefinancial standards and ensure effective fixed-asset decision making for inventory and regular updated reconciliations for facilities managers. executive Management. Solution: Sage Fixed Assets- Solution: Sage Fixed Assets-Tracking Reporting Accounting and Depreciation Challenge: Take advantage of the full value of fixed asset depreciation and reduce taxes and insurance through efficient tracking, transfers, and disposals. Solution: Sage Fixed Assets- Depreciation 14
  15. 15. Sage Fixed Assets-Depreciation• Most Complete Tax Rules in Industry – Over 300,000 Depreciation Rules – 7 books using IRS and GAAP Rules – Tax, internal, state, AMT, ACE, & 2 user defined• Over 30 Standard Reports Built-in – Including Tax Forms & Worksheets• Over 50 Depreciation Methods – Including Custom Methods• Over 18 User-Defined Asset Fields• Unique Audit Advisor Feature• Easy Wizard-Based Import Process 15
  16. 16. Sage Fixed Assets-Reporting• Customize Standard Reports – Easily add, remove, and reorder columns with just the click of the mouse• Create Your Own Reports – Use the full power of Crystal Reports XI: • Format or Placement of Any Field • Selection or Grouping • Subtotals and Totals • Charts and Graphs 16
  17. 17. Entering an asset…• Five ways to bring an asset into Sage Fixed Assets – Manually – Replicate • Duplicate one asset to create multiple copies – Templates • Use the asset “form” to pre-load consistent information – Importing • Bring in multiple different assets from a spreadsheet – AP/PO Integration from Sage 100 ERP and Sage 300 ERP • Create assets within Sage Fixed Assets-Depreciation using AP/PO entries within Sage ERPs 18
  18. 18. Sage Fixed Assets Views: List & Detail• Asset List – Shows a list of assets in a spreadsheet type view – General fields of information can be customized – G/L Account information entered for each asset• Asset Detail – Shows the assets depreciation information – Can browse the detail of a group of assets – Seven books to track depreciation expense 19
  19. 19. Manual asset entry• New asset – General information entered first – Book-related fields – can carry over from the tax book for quicker entry – Save the asset to add it to the list 20
  20. 20. Disposal of an asset• Key information – Date of Disposal – Method – Cost of Disposal – Cash proceeds – Can process bulk disposals• Calculate the Gain/Loss• Print the Worksheet (optional)• Save the disposal• Run the disposal report• Can handle a partial disposal and a bulk disposal 21
  21. 21. Transferring an asset• Best way to create an audit trail when assets are moved• System creates a new asset as a result of the transfer – Transfer Date – New Location – General information (G/L codes, Department, etc.) can also be changed for the new asset at the time of the transfer• Additionally, Sage Fixed Assets can handle partial transfers and bulk Transfers 22
  22. 22. Sage Fixed Assets-Depreciation Calculations and Reports• Let the system calculate the depreciation for the month (or quarter or year, if you like)• Print Depreciation expense report for detail, summary or grand total• General Ledger Posting report will show the Book depreciation amounts• Post depreciation for period end directly to Sage 100 ERP in detail or summary 23
  23. 23. How does Sage Fixed Assets integratewith the General Ledger for Sage 100ERP and Sage 300 ERP?• Data seamlessly updates from Sage Fixed Assets to the General Ledger during transaction posting for asset expenses and asset depreciation• What does this mean? – Less user error – Increased productivity 24
  24. 24. Creating Assets from Accounts Payable• Enter an invoice in Accounts Payable Invoice Data Entry• Assign the desired asset template to the asset• Send the invoice information to Fixed Assets to create one or more fixed assets with AP Invoice Register Update• View the asset in Sage Fixed Assets once it’s been posted 25
  25. 25. What’s New in Sage Fixed Assets 2013.0• Combined Product Families – Government, Nonprofit, Canada and US in one product• Editable Notes• Attach PDF’s to Assets• Sage Advisor UpdateFor a quick overview and avirtual tour visit: 26
  26. 26. Sage Fixed Assets 2013 Availability• Released by Sage Fixed Assets – October 8th, 2012• For Sage ERP customers, notification will be sent to channel partners and customers with the Sage 100 ERP 2013 autodelivery process 27
  27. 27. Demonstration 28
  28. 28. Links:Fixed Assets Links:• Assets/Resources/Resource-Library• 29
  29. 29. Questions?Sage Regional Sales ManagerPeter Grajczyk(604)-207-9480Peter.grajczyk@Sage.comLeanne