Asset Register Sage 50 Professional

[Minerva]

Hi all!

I work within a school and we started using Sage 50 in September and the last couple of months we have been transferring systems and getting going with Sage! Now it is time to think about getting the asset register sorted

Is it possible to input items that you want to include on the asset register at purchase order stage?

Is there an easy way to go back through the purchases made since September and automatically add them to the asset register?

Is there a simple way to do this?

Help!

Any pointers gratefully received!

Thanks for looking.

 

[Carsie]

When setting up Sage for the first time I normally recommend setting up the Asset Register in Excel, that way you can cross check with previous BS and TB and re-configure your categories if required.

Going forward you then have two choices- to manage assets "outside" Sage and journal in monthly accruals for depreciation or secondly (which I think you allude to) add additional assets through the Purchase Order Routine.

Either way I think it would be easier if you journal your o/b from the t/b and then ongoing run through Sage.

Give me a bell if you get stuck

 

[Minerva]

Hi

I am very new to Sage and it has been a steep learning curve!

I had gone to a lot of trouble last year to set up an extensive Asset register in Excel which I had finally almost completed before we switched systems. My boss was under the impression that it could all be incorporated within Sage but if I am understanding correctly it is only the depreciation that Sage handles?

Accounting isn't really my thing! I only help on the purchase and sales side and facilities (hence the asset register link) is my thing! So sorry if I sound a bit dim!
:redface:

 

[Carsie]

You don't sound a bit dim at all Minerva! you've done really well if you've already compiled your asset list in excel.

Without being facetious, look up the help function in Sage because it does describe very well how to manage your requirements.

The reason why I'm pointing you there is because the higher up the different versions you go the more functionality is built in and I don't know which version you have.

Sage normally does handle all of the asset management, you just need to configure it correctly from the beginning and then monthly trigger the depreciation journals.

From my experience you've done this correctly.

 

[Minerva]

Thanks Carsie

It is Sage 50 professional and I will have a look at the help function, it has all been a big upheaval in the last few months and the few of us in the office are feeling a bit jaded!

The one thing that worries me about having to start again and import all the historical data from the spreadsheet is that we are a very large organisation and it will be a long haul! Although if Sage can automatically add things that you purchase or pay for to the asset register then that would be more appealing that waiting for the departments to update their departmental asset registers!