What’s New in Sage Fixed Assets 2019.1.2
Products
Sage Fixed Assets 2019
Sage Fixed Assets
Country
North America
Description
- Section 199A Report
- Safe Harbor rules for vehicles
- Reported issues in Sage Fixed Assets 2019.1
Resolution
Sage Fixed Assets 2019.1.2 is available. The release is an update to Sage Fixed Assets 2019.1 and 2019.1.1. Please see KB ID:97145 Download Sage Fixed Assets 2019.1.2 to download the update.
The 2019.1.2 update includes the changes made in the 2019.1.1 update (See KB ID:95862 List of fixes in Sage Fixed Assets 2019.1.1 for details) and can be applied directly to the 2019.1 Tax update.
New Features
- Section 199A Report – This new tax report calculates the 2.5% qualified property amount needed when determining the Qualified Business Income (QBI) deduction under IRC Code Section 199A. KB ID:92793 – Section 199A Report has more information about the new report.
- Luxury Vehicle Safe Harbor Rules – The IRS issued Revenue Procedure 2019-13 in February 2019. The revenue procedure changes how depreciation is calculated when 100% bonus is taken on vehicles subject to the luxury vehicle depreciation limits.
- This change is retroactive. If you have Property Type A (autos) or T (light trucks and vans) placed in service after 9/26/2017 that are taking 100% bonus or Section 179 expense in your tax book(s), See KB ID:41446 How Property Type A or T is calculated with 168 Allowance for additional information.
Issues Corrected The following notable issues have been fixed in this update:
- Asset List The Asset List view applied the first sort level only for a selected Group that had two or more sorts specified.
- Asset List The wrong book field values were shown in the Asset List in the following situation: Customize the Asset List to include book fields, such as the Net Book Value field. Choose a book other than the tax book to display. Then perform a Find to select assets within the displayed group. The asset list displays the tax book’s values in error, instead of the selected book’s values.
- Bulk Edit Assets created from a partial transfer or partial disposal are now appropriately changed with the Bulk Edit feature. Previously they were not changed when they otherwise qualified for the Bulk Edit change. Please See KB ID:97635 Bulk Edit Validation error on partial and whole transfers for details
- Bulk Edit An asset’s Depreciation Method and Estimated Life failed to change if the asset’s EXISTING Estimated Life was not valid for the new Depreciation Method even though the new Estimated Life was valid.
- Copy Setup – Templates If an asset template has more than 256 characters the Notes area, only the first 256 characters are copied with the template when using Copy Setup to replicate the same template in another company.
- Customize Fields Decimal points are no longer saved to the database for assets with data entered into a field with an entry mask that contains a decimal point (for example: NN.999).
- Report Customization The Acquisition Value field can now be removed from reports when customizing reports. Previously, on some reports, if the Acquisition Value field was highlighted and the left arrow to remove the field was selected, the field that displayed below Acquisition Value was removed in error.