The latest version Sage Fixed Assets 2018.1 is now available and delivers:
Let's take a closer look at what's new.
- The latest tax changes to allow you to take advantage of the new rules under the Tax Cuts and Jobs Act of 2017
- Sage Fixed Assets Reporting is updated to SAP Crystal Reports v2016
- Security updates and other enhancements
Let's take a closer look at what's new.
Tax Law Update
The Tax Cuts and Jobs Act of 2017, signed into law on December 22, 2017 and one of the most sweeping changes to the U.S. tax code in decades, provides several benefits and a few modifications for depreciation and expensing of business property.
At a glance, the new law provides for:
The new tax laws - and the related fixed asset depreciation and accounting implications - are incorporated into the 2018.1 release of Sage Fixed Assets.
At a glance, the new law provides for:
- 100% bonus expense for qualifying property, starting 9/28/2017
- Section 179 expense increased to $1,000,000 per year, starting 2018
- Yearly automobile depreciation caps almost tripled, starting 2018
- AMT for corporations is repealed, starting 2018
The new tax laws - and the related fixed asset depreciation and accounting implications - are incorporated into the 2018.1 release of Sage Fixed Assets.
Other Notable Product Enhancements
In addition to the tax law updates (the cornerstone of this release), a few other notable product enhancements have been applied in version 2018.1 as follows:
SAP Crystal Reports Update - Sage Fixed Assets Reporting 2018.1 is updated to install SAP Crystal Reports 2016 instead of SAP Crystal Report s 2011. This update provides side-by-side compatibility with other applications using Crystal Reports 2016 and Sage Fixed Assets Reporting on the same computer.
Remaining Value (RV) Depreciation - Now, when you change the depreciation method to RV for an asset that has calculated deprecation, the existing estimated life remain s. It will not default in a new estimated life, as with new assets. This saves time and reduces the chance of unintended changes to the asset’s estimated life.
Security Update - Sage Fixed Assets 2018.1 Premier now supports Transport Layer Security (TLS) version 1.2, the latest and most secure version available of this communication protocol in Microsoft SQL Server.
SAP Crystal Reports Update - Sage Fixed Assets Reporting 2018.1 is updated to install SAP Crystal Reports 2016 instead of SAP Crystal Report s 2011. This update provides side-by-side compatibility with other applications using Crystal Reports 2016 and Sage Fixed Assets Reporting on the same computer.
Remaining Value (RV) Depreciation - Now, when you change the depreciation method to RV for an asset that has calculated deprecation, the existing estimated life remain s. It will not default in a new estimated life, as with new assets. This saves time and reduces the chance of unintended changes to the asset’s estimated life.
Security Update - Sage Fixed Assets 2018.1 Premier now supports Transport Layer Security (TLS) version 1.2, the latest and most secure version available of this communication protocol in Microsoft SQL Server.
Important Notes Before Upgrading Version 2018.1
Before upgrading, consult with your Sage business partner to ensure that this update is compatible with customizations, integrated applications, and other configuration options.
If you are using Sage Fixed Assets 2017.0 or newer, it’s quick and easy to download the Sage Fixed Assets 2018.1 release via Sage Advisor Update. If you are using a version earlier than 2017.0, follow the steps to download the release from the Sage Knowledgebase.
If you are using Sage Fixed Assets 2017.0 or newer, it’s quick and easy to download the Sage Fixed Assets 2018.1 release via Sage Advisor Update. If you are using a version earlier than 2017.0, follow the steps to download the release from the Sage Knowledgebase.
