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We did a bulk disposal with proceeds that allocated out to all the disposed assets, as of 2/1/2024. Most of the assets disposed correctly but a few are adding in $0.01 to "Depreciation this run" throwing off our expense account. I ran a 2024 monthly projection…
In 2023, 80% of asset purchases can have their depreciation booked immediately (so instead of spreading it over the useful life…the cost of the asset is booked to A/D immediately). How do we accomplish going back and taking the bonus depreciation in Sage…
I have seen some things online about 100% bonus coming back for the 2023 tax year? Do you know if this is true or not? I am assuming not since Sage has it set at 80% still.
I entered 19 assets in 2023, starting in March. I didn't realize the $$ threshold had increased from $2k to $5...sooo I need to remove 8 assets and the depreciation that we have taken throughout 2023 and rerun Decembers depreciation for year end? We do…
I recently setup a new company in FAS. We are a heavy equipment rental company, and depreciate the equipment. Starting in 2022, we transfer the equipment to our sales department, who then sells the used equipment. In the past we were disposing of the…
when I calculated the depreciation, the "prior through" are gone from reports, so beginning accumulated depreciation are not correct. I tried recalculating as of 12/31/22 then redid depreciation from 1/1/2023 - 12/31/2023, but nothing changes. how should…
Hi,
I just reran depreciation for Nov-23 and the grand total for Depreciation This Run is $14M, which is like 95% of total Accumulated Depreciation, which is $15M. I expect the depreciation for Nov-23 to be around 200k, give or take. I then proceed…
I have a lease in Fixed Assets that has been renewed. I need to change the acquisition dollar amount and the estimated life but keep the depreciation that has already accumulated. What is the best way to do this?
I thought the cap for luxury autos changed from $18,200 to $20,200 in 2023 but I have some autos still showing 18,200. I did confirm PIS dates, so I am not understanding why so of my autos are not showing the max bonus amount.
Hi,
We replaced an AC condensing unit for one of our warehouses. What is the internal book estimated life on a lease that is month to month? Or do we expense it?
I have added new equipment via import...changed my group to reflect change and it still pulls blank file. Tried to depreciate and it still wont show new under additions.
The default Depreciation Method for "Z" property type is now SLFM or Straight-line, Full-month. I believe the default was SLMM or Straight-line, Mid-month. When did this change and does this cause a change in accounting method?
I need to take an extra month of depreciation for 1 particular asset. Is there a way to take 2 months of depreciation the next time I run depreciation for all assets?
Hello,
I recently added 178 lines to a new company in SAGE. These assets had 3 different class codes and were all depreciation method RV. For some reason when I run the depreciation projection, 41 of them are showing as 0 and I can't figure out why…
Hello,
I have a few units in FAS that are currently being held for sale. With that, I need to stop depreciation on them. Is there an option to mark these units as 'Held for sale' within FAS outside of disposing them? I don't want to record a loss…
According to the tax regulation, bonus depreciation now ramps down to 80%, starting in 2023. However, in the software, the input dropdown option is either 50%, or 100%. How to make the software calculate an 80% bonus depreciation on the fixed assets?…
I would like to know how to record the sale of all assets when the business is sold but we want to keep all the history. The assets were sold at a fair market value so is there a way to keep the history but revalue the assets?
I'm new to Ainak and trying to calculate depreciation expense. If I run the report, depreciation is not calculating correctly. For example, it calculates depreciation for fully depreciated assets. Please let me know how to fix the issue.
Hello! If I put a placed in service date of 2005 but I only want it to depreciate over 5 years will sage know to depreciate based off of the useful life column rather than the placed in service date?
Hello,
When we process disposals between periods, the Internal depreciation calculation will not calculate for the disposed assets. The depreciation is calculated for Tax. Has anybody experienced this before?
Thank you,
Hello,
We have intangible assets that are not depreciating properly in the final year of their life.
At the end of the prior fiscal year, the NBV and depreciation amounts were correct. I closed the period, as usual, and ran depreciation in period…
I have a team that is going to meet with me tomorrow to discuss the following items with Support unless I get them from other sources. I went to knowledge base, so I figured this was the next step in the process. Here are the items we could use some help…