Signature Block Asset List Made Easy

Signature block asset list

the broadcast is now starting all attendees are in listen-only mode everybody this is Jason from swk we still have a few attendees trickling in so we will wait a little while longer to let everybody come in if they're running a minute or two late but we will get started in just a minute or two thank okay so it looks like we just had another couple people join in so I'm glad we waited an extra minute or two so again my name is Jason Connor Peck I'm a consultant with swk technologies thank you all for joining the webinar today we are going to be discussing the fixed assets program from sage if you are here for something else you're probably in the wrong meeting but I hope we are all here to learn a little bit more about sage fixed assets so what what we're going to be going over here today is just kind of a basic rundown of why fixed assets might be a good solution for you and also just review some of the basic functions of it how you can customize sage fixed assets and then how we can actually run through depreciation show you a demo of that review some of the reports that are available with the program and then some other administration type features that are available as well at the end of that we will have some time for questions they will be text questions so you can put them in the questions box in your GoToMeeting panel so we'll be looking at those when we are wrapping up a little bit later I do not think that we will be reaching the full hour mark so hopefully that's good for everybody we can get you on your way a little bit earlier than one hour from now so first thing I wanted to do is pop a quick poll up on the screen just to get a feel for where everybody who's attending is as far as comfort level with fixed asset so check that pole on your GoToMeeting pad and just give me a quick click for a response all right she looks like we've got the majority of our votes in already thank you for doing that so promptly it looks like the majority of you actually do want to just learn a little bit more about the basic concepts of fixed assets which is great because then this will be useful for you not only to see what the product can do but just to see how you can handle your fixed assets in general and whether you do that in stage or in another program but certainly I think sage is a good way to go I've been working with it for a little bit over a year and been able to do a lot of good things for our clients that use fixed assets so like I said in summary we're going to review the product and then do a little bit of demonstration as well so first off just a little bit of a summary of why you would want to use this so for most medium to larger companies you're going to have a lot of assets in your location or locations and when you buy an asset you spend a certain amount of money on it that doesn't mean that you've just thrown all that money down the drain you can recoup some of that onto your general ledger as depreciation expenses and at the end of the day that's that's a good thing to track for accounting purposes and it can it can end up saving your your company some money in the long term it's also it's also can be useful for for tracking those assets for tax purposes you can you can track the expenses that you've accumulated to date on that depreciation and that can help you with your company's tax return as well this age fixed assets program in particular does have all of the latest tax laws calculated in place for when it does generate depreciation values in the system and so you can actually base a lot of that on your your tax reporting to the IRS and and one of the key features that this has compared to maybe some other products but anybody who may be tracking their assets just in Excel for instance is it has the exact specifications for depreciation methods and and time scales and how long you you are allowed by the IRS to say estimate an automobile can be depreciated over over a certain amount of time so all those rules are in place to help you along and make make your tax reporting very easy for for assets as well a couple other features that that will benefit you from using this program will be especially compared to Excel for instance you can have the program installed on a server and then everyone within your company can then access that line of everyone you allow to access the program and see up-to-date calculations and the status of assets so you're not trying to track down a spreadsheet even if you may share that over network that's not necessarily always ideal you can track the history any any changes that users made to assets will be tracked on in the system so you can see what people have done maybe if it was if a mistake was made you can roll that back you can also set up security for access to the system so whether that's based on a Windows user login you just only allow users 1 2 & 3 & 4 to access the system or you can set it up with a login password as well one of the most beneficial features that will distance it from your basic kind of Excel tracking is the reporting so you can run one of several different types of reports from your depreciation expense to listing of all your assets in their status their netbook values you can even run property tax reporting based off of that so many many different reports available and I will I will get to show you some of those later on in the presentation so with sage fixed assets essentially it's what we're looking at right now is safes fixed assets depreciation and then it's a network so let me explain what that is so depreciation is our program that we have open that actually keeps a list of all of your assets and their current status and how much depreciation their accumulated and all the information to project forward what what is going to be expense with these assets that by the time they end their life so this is kind of the main program from fixed assets but the two other programs that are available that are a little out of the scope of what we'll talk about today are the planning program and the tracking program so the planning program is is useful for those businesses that in particular are maybe constructing their own assets from scratch so in that case say you have raw materials purchase materials labor all of these things go into what is ultimately the acquisition value of that asset so if you're building something from scratch the planning module allows you to keep track of all of those things under the umbrella of one eventual asset and then that planning program can send the asset once it's completed into this depreciation module as a new asset so that's useful for kind of a specific company set up if you wanted to to plan your assets that way the tracking program is essentially a good way to keep your inventory of your assets now not a lot of people are set up for that you can use an app from for an Android device or you can use one of a few different choices of barcode readers that stage continue that you use to actually conduct an inventory of your fixed assets so you add for instance barcode all your asset scan them into the tracking program and then the results of that inventory would then send information to the depreciation module and say hey we actually have three of these not two or we don't have this asset anymore you can market inactive or disposed in the system and get it out of there so so those those are a couple of different programs you can use in concert with depreciation but in my experience for the most part clients are using just depreciation module and that's where the majority of the focus lies anyway so that's what we'll be going over today in a little bit more depth as far as the program itself there are four different options you can get fixed assets light which is essentially a single user and as a limit on how many assets you can track a limit on some of the reporting you can do so not a lot of folks end up using that there's a single user which just like the light would only include one installation so that would just go on say the main asset accountant computer and they could run run run through depreciation themselves but that would just be one computer but with no limit on number of assets you have all of the same features that you would have in this version which I have opened the network version the network version as I kind of hinted at earlier is is installed on a central server in your system and then all of your users that you want to access can can use a what we call client installation and use a program from their workstations so just like what you may be familiar with with your ERP system currently there is user licensing so you can talk with your account manager if you are working with us with swk talk to your account manager about how many seats you would need for that license how many users you would end up needing lastly the other version is the premiere version that one is sequel based versus all these other ones are a flat database file that's just stored on the server so the advantage of the sequel based one for premiere is that you can report or you can track depreciation on over ten thousand assets anything under that you can still use Network anything over that it's much highly recommended to go to premiere and that just ends up translating to a better performance when using the program the premiere does also come with the reporting module and for those of you who are on stage 100 or similar ERP systems this also uses Crystal Reports for report customizations you do need either the premiere version for the reporting module added separately in order to do customized reports or create your own reports from scratch so we can touch a little bit on that a little bit later so let's get into the program a little bit and see how this works so what we have right here on the majority of the screen is the asset list and this shows all of the assets for this company then this company that I have open you can see on the top is just a demo data collection called sample US company and in these brackets is the name of the database this lives in names default so I will actually do a little bit of a share of what that means so we can open up a company and so within our database name default which is the the database that comes with fixed assets you can start creating your own databases if you want to compartmentalize different companies if you have multiple companies and instances that you want to track fixed assets for so in this demo data there's Canadian government and a regular US company which is what we'll work with today you can see there is also a training database from Sage available and that one has some more assets in this fake bakery as a training database or training company within the training database so the reason I want to show you that is just that you can create your own companies you can create as many companies as you want here and you can decide to like I said compartmentalize them into different databases if you so choose so we'll go back to our US company and get started here so on our asset list screen we essentially have a spreadsheet of all of the assets and many of the fields that correspond with that asset so just review these very quickly the system number is assigned by Sage when you create an asset create an asset through a transfer or or add an asset through an import you're always going to get the next system number there's no way to control what these are and for those of you that are accountants you may know through an audit an auditor is going to be checking on this so they may they may check on that so it is always good to have a consecutive string of system numbers here without any gaps you may go in and delete assets if you so choose if you delete say number 77 the next asset coming in will still be number nine year won't use number 77 but since this is fixed by the system what it allows you to do is create your own ID for that asset the asset ID and that can be in any arrangement you like it can be alphanumeric it can be just like we have anastomosis digit number increasing at the end so whatever you want to do to organize your assets can be done with the asset ID we see the status you can see in our system we have some that are disposed description acquisition date and then here the rest of these fields you can see how you can organize your assets so you can organize by location what department they belong to class is a little bit different we can get into class in a second that's a more item or asset oriented details like what Pio was it purchased on what was the invoice for that vo where to come from zero number if you need it etc and then you'll see at the end here we have custom fields so you can you can go in and create custom fields say that what you wanted to track is not included on here you can you can create a new custom field to track whatever you want we'll go over that in a second so let's look at my entire field so just like we had on our main screen we can see all of our different assets are all of our different fields so you can actually go in even for an existing field you can change what it displays us so if I just wanted to change what class was you can you can change that you can change what the heading is entry mask you can decide how many characters that field should be and so you can do that on your custom field your custom dates so in this demo day that's already set up custom date number one has been changed to be the warranty date and so when you're creating assets or importing them you can add the warranty date in to fix that all right so what you see on this screen in summary is a list of what sage calls the general information field which are things that by and large do not affect the actual calculations of depreciation but if we double click on an asset we're able to see the asset detail screen so I double clicked on number 3 that's a parking lot in this example so I'm able to see this asset in a little bit more detail you can move this line around and see what else you have hidden behind it so all of our general info fields just like we saw on that main spreadsheet are here I will note as we'll show it a little bit later but you have your GL accounts here which are important for sending the results of your depreciation calculations into your ERP system so you always need an asset account an accumulation account inspect account and what this demo system also has set up which we you can do yourself is set up what are called smart lists so you don't want to have your users going in and entering in these account numbers and maybe they leave out the - maybe they leave off a zero and suddenly we've got bad data so this smart list allows them to just select what has been entered before from a drop-down list so this is not pre program data by stage if you've got a your own brand new installation of success that's none of this would be here but you can create your own based on the data that you've imported thus far there's a good way to prevent errors all right so down at the bottom here are our book fields and this is all the data that is actually dealt with crunching the numbers for depreciation all the the ones in bold here are our critical fields as sage calls them these are absolutely necessary to have entered in system entered correctly in order for the calculations to be performed so they are they're crucial and then below that are some additional fields that will affect calculation but they can be left blank or zeroed out as their default then everything in bold blue at the bottom as you see from this name here are the depreciation calculations this is data that cannot be edited or a change this is the result of the calculations that the program has run I'll step back to those in just one second I also wanted to show you at the top of the screen here for each asset you get these five tabs of information the main tab is where we are where all of our fields are you can see transactions so in this case there are no transactions on this asset we can page back and forth from one asset to another with these arrows and I'm going to find one that has transaction so this asset was fully disposed back in 2010 in this demo data on our notes tab you can enter notes so you can say this asset was disposed in 2010 or whatever notes you want to make anything that is kind of just an ongoing communication for users to be able to check that might not already be in your fields in your general field you can also put an image of the asset in here I'll go back to the asset list and we'll bring up something that has an image where are our image there we go so this is a Dodge Durango and there's an image attached so kind of lends a little bit of clarity to what you're working with and you can add multiple images to one asset so it doesn't have to just be a picture of it you can add for instance a PDF of the invoice that this was purchased through you could add material safety data sheets if it's chemicals you could add instruction manuals anything that you would you would feel would be relevant to have on file with that asset you can add into there and then history just shows a quick summary of what has happened on this asset historically so we can see that J Smith changed some general information eight years ago all right so down at the bottom here we'll go back to our book information so we have the tax book as I mentioned earlier you can use this in conjunction with your tax returns to semistate it to the IRS internal book is basically going to be what you will track and what everybody will do in in order to put this into your general ledger but in your depreciation calculation results into your GL so you have a property type a placement service date so the placement service date is not necessarily when you bought it it's when the asset first actually went to use was actually started to be in place in a business sense for the company what was the value of the asset and depreciation method like I mentioned at the outset we have for the specific IRS calculation methods here you can choose the appropriate one for your asset and that selection will often in accordance with the property type will limit what estimated life is possible for that asset so that's something that if you are interested in adding the fixed assets program that's something that we can go in go over in a little bit more depth as to which methods would be best for your ass and then you have other books the state in the alternative minimum in among tax correspond with your tax book in a couple of similar ways and same with the adjusted current earnings book and then custom one and two are ones where you can actually make adjustments yourself a lot of people use one as a budget book to kind of parallel with your internal book or you could use it as one to play around with data and and see what may happen when you when you make changes okay so let's go back to our asset list and so what we can also do to organize this is we can put our assets into groups so by default there's a few groups that are always going to be in their complete and complete active disposed and I believe that's it by default then there are additional groups that you can create on your own to organize your assets so for instance this one for all assets in department 100 you can see in this column we've got one hundred six hundred four hundred two hundred etc we just can select this department one hundred and there we only see the assets from the partner one hundred so you may want to report only on those assets you may want to export them to excel just so you can see them you can see at the bottom you can export that data you can also do more elaborate exports in a different method I can show you that so if we wanted to create our own group we can go to customize Group manager and we can create a group let's say that we want to do location in SL and I'm sure what that stands for but we can try that so then just a simple little utility select our location field there it is so that it is and there again we have our smart list that Auto gives us a drop-down as we add that to location SL okay now it's in our list of groups and it's in this list as well and there we go now we have everything that's at that location so groups groups are good for organizing or reporting on specific assets and you can also create your own groups just by selecting like for whatever reason you wanted to see just these assets you can do the same thing you can save the selections as a group name that selections whatever you want to name it and there you go you can save that for next time go back to your complete list go back to your selection okay so what do we do if we actually want to add assets so there are four ways to add assets we can add them manually by going in and clicking add an asset we can add them based on a template we can import them from an external source most commonly Excel or a CSV and then you can also add them depending on what your ERP system is for instance with sage 100 standard and advanced versions you can add them automatically from an AP invoice or a purchase order you just there's a little bit of setup in Sage 100 and then you can send the assets to fixed assets that way so that can be useful so let's go through those very quickly adding an asset so now we have a blank screen here so we can type in whatever we want on our asset ID to be remember everything in this general information here is editable you can create whatever you like let's imagine that we went through and selected all this information so that we have everything complete for our asset but I won't bore you with going through that you select a date of acquisition again that does not have to be the same as the placement service date replace the service date can be later obviously can't be earlier but you could purchase it and then maybe you'd not actually put it into use for another month or week or whatever so we've picked your place from service date well it's the value what's your method and I'm hitting tab to go between fields here and you can make some change these as well and you notice what I just did I hit tab at the bottom of the input fields for the textbook and it copied all of my information over to the other books so that's just a nice little feature that you don't have to enter this seven different times or however many different books you have in operation and then since this is a new asset we don't have any prior information we don't have any current accumulation and in this case the net book value is fifty thousand on our internal book with the tax laws automatically in place with the 2019 version I believe all this came through with the 2018 version with with the 168 allowance calculations so they're the same as they were last year but that automatically for the tax book put this one into the 168 allow so that's one way to add mass that you can just hit save and add that add set another similar method is you can go through it's still hitting that asset ad button but you can save yourself time with a lot of this information and apply a template to it so say this is this is going to be an automobile will select the automobile yes will apply this template and then it has a lot of these same fields here so not a lot of this makes sense it's already got a Honda Accord description and it's a Ford bender but you get the point that you don't have to fill these out every time you can save what you've done as a template you can save it as a new template whatever you need to do the third way to add an asset it's going to be with an import so this is very crucial for my clients who are coming from Excel and maybe if some of you are in Excel this would be how we would do that as well so we go into a custom import and this little wizard helps you work through the process so we can let's just pick some data file you just pick a CSV in this case we're going to import into a US company and you asked that and sorry if I'm going through this fast but I just want to show you that this feature is available not really teach you how to use it at this point and then you can you can repeat the same import with a saved field map so that you don't have to recreate this every time but if you are creating it from blank you select what column of your your data source you want to use for which field and you can find all of your fields here create a map and then import the information for those assets and I don't have anything set up that will work with this demo data but that is how you get started on an import so take-home point being that if you have thousands of assets you don't have to a demain one by one and that goes for at the start when you are first implementing stage fixed assets but also later on when you're adding assets especially if you don't have an ERP system like sage 100 standard or advanced that can automatically do that for you from invoices and view so briefly I can just show you that you can create these links to your ERP system this is for at sending the depreciation calculations to the general ledger and then this one here is for asset additions so you can do Sage 300 sage 100 and I believe this is incorrect from sage to include this as of now they do not have that link setup unless you are premier depreciation so if you have premium sage 100 and premier depreciation both operate on sequel and they can talk to each other at that point all right so what happens if we want to dispose of and passive so you can see that some of our ass are already disclosed and then when we look at that asset we can see everything is grayed out so this asset has been disposed that means that it's no longer in our system it's not going to be calculating or accruing any further depreciation so this is all stagnant at the date of disposal and we can see that was July or June 2010 so that is the last period for which depreciation was calculated for this this vehicle I will show you the depreciation or the disposal report in a couple minutes let's say let's say we want to dispose of this vending machine snacks in there just outdated we need we need new snacks so this this machine has run its course for sending the way so we can do this a number of ways you can be on the asset list and select asset and dispose from your menu most people end up using these sidebar menus here tends to work pretty pretty seamlessly so I'm opening my asset click dispose and then the disposal worksheet or a utility comes up here we can select what date we're going to dispose and we can pick today what's the method of disposal so that's kind of kind of determine whether we are going to get any gains or losses from sale or gains from the sale and abandonment casual PD if it's damaged and you can you can recruit some insurance on the back end for that if you work it as a casualty so let's just say we sold this one you can also do a partial disposal so recently I had clients that had storm damage to their assets where like 10% of the asset was destroyed so they just went in and did a partial disposal for 10% of that asset and you can tap through here you can say how much maybe they paid you a thousand for this and now it's so old and out of your out of your business so you just hit calculate it's going to show us what our game loss is and we're going to hit OK and that will confirm and we can go look at our transaction tab we can see now that we have this both of it we have cash proceeds and now we can see that this asset is grayed out as well now this 1 through June 2019 was fully depreciated as you can see there so there's no net book value which means all we gain we gain the hundred thousand dollars from the sale but we do not lose anything in terms of depreciation not accumulated but I can show you that example in a report in a second quickly you can also transfer assets transfer is very useful if you like I mentioned in beginning have multiple companies in say success that's say trace assets or multiple databases where you're splitting up your companies and of course you can transfer it internally as well so we pick a date for our transfer and then our destination can either be our current company or another company so we do current company we can transfer it from this location to another location you can go into your company setup and also change this by department or or owner whoever is in charge of the asset for instance you can change your transfer by field but location usually makes most sense so that's default and so we can change strands for that from HQ to Zales for instance again just like with disposal you can do a partial transfer so maybe only some of the asset is changing ownership or changing location and then I'll show you here what you can also do by sending it to another company so I'm going to actually look at the other database like if I can define it and there's my other training database in their training company in that other database so you can do that as well let's say we're going to send that over so we just did okay and then assets gone so now you can see it's transferred it's no longer going to accrue depreciation in this company it's going to do so in the other company and just to keep it simple and transfer the entire asset maybe transfer a partial asset it would create a a sub asset number that would then still be able to be depreciated all right so with all of that said with how we handle assets add them and transfer them out of the system let's actually do a little bit of calculation with depreciation so one of the most useful things I like to share first off is this handy tool here run a quick projection so if you just want to see what this asset is going to do in the long term over the course of its life you can just run this quick projection and I'll stick the internal for most of our demonstration so here's a report this was run in the background in Crystal Reports and you can see here this as it came in the life in 2003 and this is not necessarily historical data in most cases it will be but in this case it's going to show based on the critical field meaning your depreciation method acquisition value estimated life property type this is what the asset will do this is how it will behave as far as depreciation each period and then in this case each year so it's going to accumulate thirty seven thousand each year and you can see it is going to increase in your total accumulation this is a valuable building so that's a high number and so this takes us all the way into the future and we're going to project that we're going to recuperate the expense on this asset through the end of 2014 3 so as real estate properties is a 39 year life so that makes sense from 2003 to 2004 t3 so it's an example of quick projection you can also run those for a month or a quarter and get that a little bit more granular information if you so choose well let's actually calculate depreciation so I believe I know from all of our assets here that we are in we're gone through 2014 February in our internal book so I am going to do two things I'm going to depreciate and bring all of my assets through February 2014 the reason I want to do that is I want to make sure everything is brought up to date not just a couple of ones I looked at so there might be assets that were individually backed up say they had to recalculate something it was backed up to December of 2013 we want to bring everything forward to this period so that we get accurate information that we're going to send to our general ledger so what we do on this report screen it's going to be similar for any report we run as well as our depreciation calculation is we're going to choose which group remember we can just choose a group to run it on we don't have to do everything but all complete assets you can see between the little carrots here is what's going to cover all of your assets that can depreciate so a disposed asset of transferred asset they are part of the complete assets group but the system already knows not to bother doing any calculations on them so that's fine large your best bet you can select your book you can certainly run it for all of them in the interest of speediness for this calculation I'll just do the internal book and we'll bring it up the date for February and I'm not going to send it to the window that's where we'll actually see our report we'll see that when we do it from March in a second okay so real quick I just did the calculation and it brought all of the complete assets active assets through 2014 so we're know we know we're now ready to calculate depreciation for the month of March because all of the through February depreciation has already been calculated so let's just do this one more time again we can go through the menu appreciate appreciate or we can do calculate depreciation from our little side tab so again since we got that from our asset detail page where we were looking at this office building it defaults to the selected asset so we want to make sure we move that to complete and we'll bump this forward one month for our purposes for this calculation in this report it doesn't even matter what date you choose it's always going to choose the end of that month so we're going to go through March and now we will send this report through the window because we want to see what this looks like you here we go I'll maximize this so we can see it zoom in a little bit so here this shows us that this is depreciation expense this is what we've depreciated through March 31st and then for each asset we're going to see and I always check the dates first we want to see what our prior period was if everything was through February then we know this is good data that we can post to our general ledger so just as a quick snapshot what you see on their support you've got what was the acquisition value how are we depreciating it in this case nothing so nothing happens on line one but we've got straight line full month on most of these other ones straight line mid month here different calculation techniques how how long is this asset going to be in service and this is only for the tax book really what was your well it's there's salvage value that will be listed here so that's what we can recover at the end of the asset it won't depreciate anything that you set a salvage value and then ultimately this is what our depreciable basis for this one we're only depreciating half of its acquisition value and then most importantly here we see through February let's just leave this when 390,000 was depreciated and then in March this run we did three thousand ninety eight and your date since is our third month you can see that three times that because we're just using straight line in this case it's very easy math and then now all together this asset has accumulated 399 out of it one point four five million so this kind of spells it out very nicely it's a useful report and I do recommend everybody save one of these once a month as a record it's a good thing to have monthly on file and you can certainly page through to the end again if you use Crystal Reports in your sage environment for instance this is all somewhat familiar and you can see at the bottom what we've accumulated for this month eight thousand five hundred forty-two we'll close that and then what we can look at next is say we've we've done our our depreciation calculation for this period so now we want to send this to our general ledger again as I showed you briefly earlier there are links that you can set up between say two x assets and certain ERP systems so obviously several of these H applications are available to link up to and a couple additional ones here at the bottom so that can be very useful save you some time for manual entry essentially what you can do if you don't have one of those is run the general ledger posting report and we're going to see that we want to run this on the internal book and it's automatically gonna just our reporting period to March because that's what we just did our depreciation calculation for so let's run this report for March you and then these are the actual calculations that are going to go on your general ledger so you're going to see all of your expenses and then they're going to be bounced off by accumulation and so those will obviously be the same so that you have a valid entry in your general ledger and their group according to what is present on the asset general information so in this case it would be well 45 minutes or so of somebody doing some hand entry in their system to get this data in so not great but not the end of the world if you were going to have to enter that and certainly what you can do is export this into Excel so that can make things a little bit easier for dealing with it you could import if your interview system is set up you could import into your your general ledger entry for example but if you have saij 100 for example let me just pop this open if you have stage 100 then you can go in to your fixed assets module and you can actually process this so we can see from our fixed assets options window then it's going to be looking at this database so sample US company we're going to use the internal book what I can't do I can't fully process this because well I could I could modify the period if we created the 2014 period in our general ledger but essentially the demo data is not going to agree with the demo Sage 100 data but you can set up all of your period definitions if you have different periods and make your database with that then you can set up your asset account in here so it's going to be looking for your accumulation account expense account and when you run a period and processing on the fixed assets module then that's where it'll actually pull in the data but again this is looking for 20/20 I don't have that in my fixed assets but that's all you do and then you would have entries ready to be posted with your daily transaction register in Sage so sorry if you guys don't have sage 100 but assume a couple of you at least do and that's how you integrate fixed assets with sage 100 all right so say we have completed our period and everything has been posted to the GL what we don't want to do is have somebody go in and make changes to assets and have that mess up our data in fix essence so what we can actually do then is close the period and so through our menus that period closed let's just close everything through Oh three 2014 and we don't need to run a report again so that close happens now we can look at one of our assets and see that we have a period clothes and so that means that if we would go in and modify some of this information it would only change going forward it would not change anything prior to a period close you can certainly undo a period close if you need to if you need to go back and modify data but it's a good useful thing to have so that nothing has changed historically all right so I have eight minutes to the hour here I will just show you a couple of other reports I promised you a disposal report so disposal this will just show us all all items that have been disposed and let's just do 2019 will just show over this long period that this report report run for a second and there we see all the answers that were disposed so here's here's one that we disposed today and this one had a $1,000 loss or sorry gain we sold it for $1,000 after it was fully depreciated so yes we did a good thing there most of these other ones they were not fully depreciated as you can compare these two values here so this report is useful for entering this information into your GL to show to first in your GL show that this asset has reached its end of life and also show your your gain or loss from this column in your GL as well one useful report that if you're opening a company for the first time or if you just haven't changed your default this will pop up when you open sage successes and open your first company is your asset snapshot so this is a nice little collection of dashboards show you your what you've put in service this quarter what's your depreciation through each book and what's your acquisition value recently in this case for each year what have you been acquiring so you can see some interesting dashboards of your data and a couple other quick reports that I can show you is file listing is a good way to just see everything you have you so just a quick summary what's what's the asset what's the description where is it from what's the value not a lot of depreciation calculation relevant fields but good for general information if you want to see activity or a status of a NASA all right so that's about it for reporting there's a couple other things I wanted to show you very briefly I actually ran longer than I thought I would I apologize for that very quickly in system administration I mentioned it at the outset that by default access to the program is just determined by if you have a registered user from the computer that is accessing it you can also set restrictions with a supervisor log in and set up either windows authentication or applications application you need to create users with passwords windows would use their existing windows account on your network and thus you could just easily restrict or allow users that way but I'll leave this off for now and my last last comment I will say if you do have this program and you're struggling or if you are thinking about purchasing it and are new to trying to figure it out not only if you have us as consultants as a resource to help you but if I may say so I really like the help files with fixed assets Saints fixed assets normally from what I find these these help things are not too useful in general for software packages but I really like it for this program so you can find just about anything you need you can find like I just searched for property I just want to find property types and what that is all about for instance how do i how do I choose a property type right so no this is just a description of the field but if I click on this link it's gonna take me another part of the help menus and there I can see all right this these are the different classes of property that we can we can classify an asset at so let's see it's an automobile so you get a whole bunch of information about recovery-time asset life based on when the when the car was patients there's all this tax book information as well so it's just endless all the degrees of usefulness that these help files are and and some of you may agree that that's not normally the case with software that they have useful help files in this case I really like them all right so that is all I have for you again I apologize for running a little long but we do have a few minutes for questions so I see a couple questions in the chat I will answer these and then if anybody has any further questions pop them in there while we're still here all right so first question is there a limit to the number of assets a company can have her company no not in theory but what you're going to run into with this version with network or light or single user is sluggishness performance so if you are over 10,000 assets it seems like it may be a lot for people but if you're over 10,000 then you want to move to the premier version and that will house your your fast database in sequel and then that you can add assets to your heart's content as long as you've got room on your server sequel will be able to store that information next question can the program calculate a per day calculation versus a per month calculation to close the GL know everything is done on a period basis it's a it's a concept that maybe if you could somehow rig the company set up to include 352 periods in a year maybe we could do that with a premier version but generally that's not done so I would say 99% sure we're not going to be able to do that and another question is it easy to convert from a 2013 version to current versions yes and no it's easy for us as consultants it's not a long drawn-out process it basically we can do that in an afternoon or so we do need to have each version in between installed it needs to leapfrog from 2013 14 15 16 17 18 19 so that may take a little bit of time to do but I've never run into any issues with converting the data everything has always gone through smoothly for me if you are converting from a much older version where we do not have access to the installations for all those intermediate versions then we can reach out to the sage professional services group and and they can give us a quote for a data conversion where we can then just install 2019 directly and plop that data in alright transfer function would be used when you merge two or more companies it can be it if you if you have both of those companies set up and you want to merge them into one then if you do a transfer from one of those companies say you choose one is going to be your main company or maybe you create a third company and transfer everything then that will work the only downside is if you do transfer you don't have those assets active in excuse me in the previous companies so I have a client that wanted to duplicate all the assets not transfer them and in that particular situation we did have to just do a a new import of those same assets with their up-to-date data so it took a little bit more time to duplicate them than them to transfer you all right I see top of the hour here any final questions throw them in there I'll stay on for a few seconds otherwise I want to thank everybody for joining today sorry again for taking up the full hour I was optimistic and thought we would go a little bit faster but hopefully that was some useful information for you you will be receiving some follow-up information and and please do reach out to us if you are interested in getting some help with your fixed assets or if you're thinking about purchasing and implementing hfx assets so once again thank you so much everybody I don't see any more questions in the queue so we can end it here thank you again have a good rest of your day