To help you record details of company assets, their value and depreciation, you can create fixed asset records. The Posting tab of an asset record holds valuation and depreciation details such as cost, depreciation method and rate.
NOTE:
Fixed Assets is only available in Sage 50 Accounts Professional. If you're interested in upgrading, leave your details and we'll be in touch.
Cause
Resolution
Access a fixed asset record
On the menu bar, go to Modules, select Fixed Assets, then New or double-click the required asset record Read more >
TIP: To create a new fixed asset record based on an existing one, from the list view select the asset, then click Duplicate.
Once an asset has been depreciated you can only change the method to Write Off.
Depreciation Rate
Enter the annual depreciation rate as a percentage.
If You're unsure which method to use, you must refer to your accountant for advice.
Cost Price
Enter the original Cost Price of the Asset. Once an asset has been depreciated this box is inactive.
If you were charged VAT and you have or can reclaim it then the Net Value should be entered.
Book Value
New fixed asset - Enter the Cost Price.
Existing fixed asset - Enter the current book value (the depreciated value).
Once an asset has been depreciated this box is shaded.
Next Depreciation
Shows the depreciation value that posts when the month end is run.
Depreciation To Date
Cost Price minus Book Value.
Date Last Posted
Blank - The asset hasn't yet been depreciated.
Shows the program date when the asset was last depreciated as part of the month end. The asset can't be depreciated again in this month or prior to it.
TIP: To create a new fixed asset record based on an existing one, from the list view select the asset, then click Duplicate.