Sage Introduces Fixed Assets Management for Intacct

by

During this year's Sage Transform event, one of the big announcement was the incorporation of Fixed Asset Management into Intacct.

The new Sage Intacct Fixed Assets Management (SIFAM, for short) feature takes control of your fixed assets so you can manage them, stop paying taxes and insurance premiums, and increase your bottom line.

SIFAM lets you easily capture, track, transfer, and depreciate all your fixed assets. This new feature makes keeping track of all your items easy. With automated inventory functionality and built-in reconciliation, you will never lose track of your assets.

The user-friendly design of SIFAM allows you to manage and optimize your fixed assets through their useful life. It automates multi-book depreciation, ensuring compliance with both financial and tax requirements.

SIFAM facilitates effortless self-implementation as a comprehensive hub, ensuring a simple and hassle-free onboarding experience. With this powerful depreciation calculation engine and intuitive reporting, you will simplify your asset management and accounting across your business sectors.

Reporting in SIFAM allows you to create various custom reports. You can easily add or remove columns from existing reports to generate custom reports based on your business needs. Custom reports can even display entire asset life-cycles based on IRS tax and GAAP rules.

SIFAM's depreciation feature allows you to calculate asset depreciation and easily manage fixed asset life-cycles. With over 50 depreciation formulas, your business will have the flexibility to control your assets better.

Planning features in SIFAM help you control your assets before they become fixed assets. You can easily capture and report on costs relative to asset acquisition and disposal and the cost of maintaining a fixed asset over its lifetime. Easily project the depreciation cost for any fixed asset based on various scenarios.

To recap, with the Sage Intacct Fixed Asset Management feature, you can:

  • Keep track of the value of your assets throughout your equipment's lifecycle. Know what and where your assets are throughout your business with complete visibility.
  • Budget and track project costs before they become fixed assets.
  • Avoid the risk of unidentified assets that may result in excess taxes, insurance over-payments, and under-reporting issues. 
  • Comply with IRS regulations, including annual tax updates. Manage fixed asset depreciation with more than fifty methods.
  • Maintain accurate accounting records that can lower tax payments over your assets' lifecycle.
  • Project various depreciation scenarios to determine the best outcome for your business.

For more information about the new Sage Intacct Fixed Asset Management feature, visit the official website.

Footnotes & Disclosures:

Content within this feature, including graphic illustrations, have been adapted from source material content furnished or accessed through Sage (USA). Referenced source materials or content appearing within this Insightful Accountant feature were adapted and are furnished solely for educational purposes.

Sage, Sage Intacct and Sage Intacct Fixed Asset Management represent one or more trademarks or registered trade names of Sage Group PLC (SGE.L) on the LSE, located in Newcastle upon Tyne within the United Kingdom.

Any other trade names used within this article, including any other vendor (app/software) discussed herein, may refer to products registered, trademarked, or otherwise held by their respective owners. They are referenced solely for informational and educational purposes.

This feature is "not" sponsored content. The article is provided for informational and educational purposes.

The publication of this article does not represent an endorsement by either the author or Insightful Accountant.

Note: Registered Trademark ® symbols have been eliminated from the articles within this publication for brevity due to the frequency or abundance with which they would otherwise appear or be repeated. Every attempt is made to credit such trademarked products within our respective article footnotes and disclosures.