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Fixed Assets Record

I am using Sage Instant Accounts v12.

To work out depreciation expenses, I need to keep a record of the fixed assets and their individual dates of acquisition.  Does the above software provide a feature to keep this record, or do I have to use a separate worksheet in Excel to work it out?

Many thanks.

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By Anonymous
06th Jan 2010 21:05

fixed asset register

No - there is no fixed asset register in sage instant accounts - you do need to keep a separate excel workbook detailing acquisition & disposal and pass the appropriate journals yourself.

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06th Jan 2010 22:55

On another point

I see so many accountant/bookkeepers who keep depreciating cost even when some of the fixed assets have been fully depreciated.

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07th Jan 2010 07:48

Policy

Such rules as exist to regulate the provision of depreciation are sufficiently subjective in their interpretation that you are in practice afforded considerable flexibility over the adopted policy.  This in effect means that the premise asserted in the OP "I need to keep a record of the fixed assets and their individual dates of acquisition" may be an exaggeration.  Which of course is not to say that there might not be other good reasons for maintaining a FA register, but as mentioned that would be outside of SIA.

With kind regards

Clint Westwood

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