From the Dec. 2007 Review of Fixed Asset Systems
FAS 100 Asset Accounting is a professional fixed asset management system offered by Sage Software. The program provides advanced depreciation calculations that take into account more than 300,000 GAAP and IRS tax rules related to fixed asset valuation, treatments and depreciation. The system can be used either in-house by businesses and integrated with Sage’s accounting, HR, CRM, and other applications, or it can be used by professional public accountants who provide service to multiple businesses. Sage FAS 100 includes SOX compliance functions and a full audit trail, offers multiple books, an advanced report generator, group management functions and also has remote access capabilities. The FAS 100 system starts at $2,295. Additional modules are available for enhanced inventory and reporting functions. Sage also offers FAS 50 Asset Accounting for smaller entities and Sage FAS 500 for larger enterprises.
Navigation/Ease-of-Use - 5 Stars
The Sage FAS 100 system opens within a masterfully designed user interface that
provides multiple tabs and navigation menus that simplify finding key system
features and functions. Client and asset lists include search, sort and filter
options and are easily brought up into spreadsheet views that display 28 fields,
including item descriptions, physical locations, GL account, acquisition date
and the person responsible for the item. All of the fields can be customized
to the needs of the user and client, while advanced customization options even
let users create SmartLists for data entry. Detailed information and data-entry
screens are accessed through tabs for Disposal, Transfer, History, Image and
Notes, as well as through the Detail View at the bottom of the screen. The system
also allows grouping of items by standard categories or users can create their
own groups.
Initial entry of assets is simple, with the ability to copy existing assets or create templates. Asset end-of-life tasks are also easily performed using the Disposal tab, with the ability to conduct transfers, partial transfers, individual and mass disposals, and asset splitting. Sage FAS 100 allows mass edits across groups of items. The History tab provides a central location that displays an audit trail of all actions applied to an asset. The Image tab lets users store any digitized document or photo, including invoices, warranties and sales agreements.
Management Features - 5 Stars
Sage FAS 100 allows up to seven financial books per asset, including Federal
Tax, State, Internal, ACE and AMT, along with two user-customized books. The
program offers a one-screen view of all books side-by-side to see the affects
of changes and to help determine the most beneficial asset treatments. The program
can support any number of clients with unlimited numbers of assets and asset
groups, which can be further identified by company division, cost center, location
or other factors. The highly customizable program also enables tracking of almost
any other asset-related information.
The program automatically computes adjusted current earnings and AMT, as well
as ACE schedules. It supports more than 50 methods of asset depreciation, including
MACRS, ACRS, straight-line, modified straight-line, declining balance, and sum-of-the-years’
digits. Users can also create their own customized methods. Depreciation projections
can be performed and compared with current actual, and projection criteria can
be saved for future use.
The system’s Audit Advisor feature is also a big plus, helping avoid potential
audit issues by analyzing depreciation calculations and asset data, and then
highlighting areas that might get flagged for non-compliance. Sage FAS 100 includes
password-level security and comes with an electronic version of Sage’s
FAS Depreciation Guide.
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