How to Enter Credit or Rebate in Sage Fixed Assets

Description

  • How to handle credit or rebate?
  • Can I enter negative value as an asset?
  • Asset credit
  • Rebate on an asset
  • How to enter reimbursement?

Resolution

Credit or Rebate can be handled in two ways:

  1. Enter an new asset using credit date as Placed in Service date and use negative acquired value.
    • Entering negative value will result in negative depreciation.
    • Choosing this method will offset against the positive asset amount.
  2. Modify the existing asset by decreasing the value of the asset.
    • If option will reduce the value of original asset by the amount of credit or rebate.
    • This option will prompt user with 2 questions.
    • 1st question:  choose YES to continue with change.
    • 2nd question:  choose Current Thru Date option to keep the depreciation already taken on original acquired value.
    • Save the asset.