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Sage Fixed Assets DepreciationWayne Austin

Sales EngineerSage Fixed Assetswayne.austin@sage.com

September 18, 2019

TO RECEIVE CPE CREDIT

• Individuals• Participate in entire webinar• Answer polls when they are provided

• Groups• Group leader is the person who registered & logged on to the webinar• Answer polls when they are provided• Complete group attendance form • Group leader sign bottom of form• Submit group attendance form to training@bkd.com within 24 hours of webinar

• If all eligibility requirements are met, each participant will be emailed their CPE certificate within 15 business days of webinar

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Agenda

Fixed Assets Management Overview – Why you need a Fixed Assets Management solution, data integrity and disaster recovery

ERP Integration

What you don’t know can cost you $$$ - Ghost & Zombie Assets

Sage Fixed Assets overview and demonstration

Why invest in a Fixed Assets solution?

Efficiently Manage Fixed Assets through full life cycle• Data integrity• Identifying fraud• Audit preparation• “Ghost” & “Zombie” assets

• Stop overpayment of Tax and Insurance

• Disaster recovery

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Data Integrity – What does it mean, and why is it important?

By definition:

Data integrity refers to maintaining and assuring the accuracy and consistency of data over its entire life cycle and is a critical aspect to the design, implementation, and usage of any system that stores, processes, or retrieves data.

Spreadsheet vs. Sage Fixed Assets

Pitfalls with using spreadsheets:

• Data integrity risks

• No access controls

• Little to no error detection

• No audit trails

• Difficulty handling tax

• Possible formula calculation errors

Benefits of Sage Fixed Assets:

• Excellent data Integrity

• User access controls

• Built-in error detection

• Built-in audit trails

• Ease-in handling tax

• Built-in formula calculations

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Disaster Recovery

How to overcome the unexpected• Keeping physical and/or digital copies of

asset invoices and warranties

• Having accurate, up-to-date records on all of your fixed assets makes submitting and receiving an insurance of claim much faster, allowing you to get back to business.

What’s hiding in the dark?

• Ghost Assets• Lost, stolen, or unusable assets that are still on the books

• Zombie Assets• Any asset that is physically in use, but not represented on the

books

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Ghost Assets

• Why do they matter?• If you have fixed assets on your books, but they don’t physically

exist, you have ghost assets haunting your financials. • They can impact:

• Taxes• Insurance expenses• Productivity• Budgets• Business critical assets

Zombie Assets

• Why do they matter?• If you have fixed assets that physically exist, but are not

represented on your books, you have zombie assets prowling your financials.

• They can impact:• IT licensing & support costs• Lack of insurance coverage• Potential security hazards• High potential for theft

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Return on Investment

• Time = $• Your staff will work more efficiently

• Eliminate Ghost & Zombie Assets• Eliminate Fraud• Property Tax overpayment • Insurance Premiums overpayment

• ROI Calculator – calculate for your scenario

Sage 100/300/500 Integration

• GL posted to ERPAP/PO Link• Create Assets in Sage Fixed Assets Depreciation module• Allows Fixed Assets purchases entered through PO Invoice Entry or AP Voucher

Entry to be automatically added to Sage Fixed Assets Depreciation moduleLine items can be identified as fixed assets in the following forms:• Enter Vouchers (AP)• Enter Receipt of Invoice (PO)• Purchase Order Entry (PO)

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Sage 100/100cloud Visual Workflow

Non-Sage ERP Integration

Available with customization

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Sage Fixed Assets Complete Solution

• Planning: manage and report on assets related to “in-progress” projects. Manage capital budgeting and assets usage and depreciation through project completion

• Depreciation: calculate depreciation accurately in order to maximize benefits from up-to-date IRS tax rules. Efficiently manage depreciation journal entries.

• Tracking: manage and control physical inventory of assets and reconciliation.

• Reporting: provides the ability to create custom asset-based reports, ensuring specific and accurate data is readily available

Sage Fixed Assets: Planning

• Define and manage upcoming projects• Set and control budgets for all fixed

assets needed to complete a project• Track all realized costs in order to

compare them to budget predictions• Once completed, easily send all asset

information to SFA Depreciation to be placed in service and start depreciation

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Sage Fixed Assets: Depreciation

• Take advantage of baked in tax laws and over 50 supported depreciation methods to confidently run and post depreciation

• Sage’s Audit Advisor will let you know of potential conflicts… before an actual auditor does

• Many standard reports included out of the box; including ready to submit tax forms

• Many standard reports included out of the box; including ready to submit tax forms

Sage Fixed Assets: Tracking

• Integrated out of the box: shares the same database as SFA Depreciation

• Groups• Templates• General Information

Fields• 12 Additional Fields

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Sage Fixed Assets: Reporting

• Full version of Crystal Reports that can be used to report on all SFA Modules

• Customize standard reports to fit your client’s needs by adding fields or calculations

• Build entirely new reports from scratch by pulling in data from any module

• Save reports to be run at a later date, or export them to email, Excel, or PDF for further distribution and analysis

Sage Fixed Assets Demonstration

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For more information, please contact:Deb NugentBKD Managing Consultant314.236.5165dnugent@bkd.com

QUESTIONS?

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CONTINUING PROFESSIONAL EDUCATION (CPE) CREDIT

BKD, LLP is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

The information contained in these slides is presented by professionals for your information only & is not to be considered as legal advice. Applying specific information to your situation requires careful consideration of facts & circumstances. Consult your BKD advisor or legal counsel before acting on any matters covered.

CPE CREDIT

• CPE credit may be awarded upon verification of participant attendance

• For questions, concerns or comments regarding CPE credit, please email the BKD Learning & Development Department at training@bkd.com

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THANK YOU