A question came up the other day from a client: how can I track my expensed assets in FAS along with my capitalized ones?
Since Sage FAS has no real limitations to what you can or can not track, you can track both expensed and/or capitalized assets within FAS. It really just comes down to how you manipulate – or should I say, implement – the solution.
Within Sage FAS Asset Accounting, you can customized your user-defined fields [and the provided named fields]. I suggest naming one: type of assets, or asset category, with the smartlist entries being: Expensed and Capitalized. When entering an asset into FAS, you can then select either Capitalized or Expensed in the named field.
If the asset item is expensed, just be sure to select “NO” as the depreciation method. That way, FAS wont run it during your depreciation period.
“Oh but Angie… won’t that affect my Netbook Value for my capitalized assets?”
“Well, if you create a group within Group Manager that only includes those that are capitalized in your asset category field, then run your reports and depreciation on that specific group, no, it won’t.”
Obviously, this is only if you WANT to track both, capitalized and expensed assets in FAS. If this is NOT your preference, by all means… don’t worry about this blog entry and should I say… Prank caller, prank caller…!