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Note Sage Fixed Assets refers to the fixed assets product used with Sage 100.
Assets can be created in Sage Fixed Assets based on Accounts Payable or Purchase Order line items. During data entry, you can enter an asset account to post the asset items and select an asset template to use to create the assets. The assets are created after you update the applicable registers.
For more information, see Creating Assets from Accounts Payable and Purchase Order.
If the number of periods defined in the system is not equal to the number of periods defined in Sage Fixed Assets, depreciation posting is not made for unmatched periods. For example, if a Sage 100 company has 13 fiscal periods set up and Sage Fixed Assets has 12 periods set up, the 13th period will not have a corresponding Sage Fixed Assets period.
Note Sage Fixed Assets is limited to 12 monthly period-end dates per fiscal year. The period-end date is always the last day of the month.
To maintain Fixed Assets ending dates for years other than the current fiscal year, you must first change the date in the Current Fiscal Year field in General Ledger Options, and then change the Current Fiscal Year field in Fixed Assets Options. The dates in the Fixed Assets Ending Date fields can then be updated. Reset the Current Fiscal Year field in General Ledger Options and Fixed Assets Options after you have corrected the ending dates.
For more information, see Set Up Sage Fixed Assets Period-End Dates. For more information on setting up periods in Sage Fixed Assets, refer to the Sage Fixed Assets Help system.
You can use Manual Check and Payment Entry to record the deposit as a prepayment, and then apply the prepayment when you receive the invoice. During manual payment entry, use General Ledger Distribution to apply the prepayment amount to a deposit account. When the invoice for the asset purchase arrives, use Accounts Payable Invoice Data Entry to record the invoice. During invoice data entry, you must apply the full invoice amount to the asset account and offset the prepayment with a credit line.
For more information, see Record and Apply Prepayments.
