With a recent product update, Sage ERP X3 is now integrated with Sage Fixed Assets. If your company requires more than just the basic fixed asset functions that are built into Sage ERP X3, then the advanced capabilities you get when adding Sage Fixed Assets might be worth a look.
For many companies, their largest capital investment is in fixed assets like property, plant, and equipment. With complex tax rules, changing compliance requirements, and assets coming in and out of service all the time, managing fixed assets can be a moving target.
Errors and missteps in tracking fixed assets can result in inaccurate depreciation expense entries and unnecessary tax overpayments. As an example, you may have assets that are no longer in service or even exist within your company - yet somehow those assets remain on the books because they were never properly disposed of. If that’s the case, you’re probably paying tax on these non-existent “ghost” assets. What’s more, these mystery assets affect everything from depreciation schedules to insurance payments.
While Sage ERP X3 offers some basic fixed asset functionality, the advanced Sage Fixed Assets suite automates the entire process from acquisition to disposal. Not only does it save time and improve accuracy, Sage Fixed Assets features a comprehensive depreciation calculation engine that contains over 300,000 IRS and GAAP rules, more than 50 standard depreciation methods, and automatically calculates AMT and ACE schedules.
Depreciation journal entries can be posted directly into the general ledger from Sage Fixed Assets to Sage ERP X3. You simply enter, track, and run the depreciation process in Sage Fixed Assets, then use the GL Link provided for Sage ERP X3 to export the depreciation entries. Using the import function in Sage ERP X3, you can create those depreciation journal entries directly in the General Ledger - no manual or duplicate data entry required which saves time and ensures accuracy.
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