The Sage Intacct Fixed Assets Hotfix Release v.8.0 includes new features, improvements, and bug fixes. The improvement will be applied to all Intacct Companies running Fixed Assets v2.4 or greater.

Please see below for additional details including a summary of the improvements delivered in the past FA releases. All prior release improvements and bug fixes are automatically included in this latest release version.

While the Systems Integration Group does not consider FA V8.0 to be a mandatory upgrade, customers are encouraged to upgrade from earlier releases to take advantage of the latest application features, improvements, and bug fixes. Customers wishing to upgrade must request it by filing a case with Sage Intacct Support.

New Features

  • Depreciation Posting: The Fixed Assets (FA) application will now provide a user-option to create a summarized GL batch with an on-demand status tracker for depreciation postings.
  • Asset Dimension Transfer: FA users can now record the transfer of funds for all the standard and user-defined dimensions, including allocations, in the General Ledger (GL) with audit trail and history.
  • Transaction Allocations: Allocate fixed assets without the need for manual journal entries. Fixed asset transaction allocations automatically split amounts across dimensions according to user-defined allocation rules.

Improvements

  • Construction in Progress (CIP): Allocate total budget to a project and compare that to the CIP items accumulated over time before it is capitalized.
  • Last Inventoried Date for Assets: Update the date of the last inventory and/or condition of a particular asset or all assets at a particular location throughout its lifecycle.

Bug Fixes

  • Partial Asset Disposal: The FA application failed to process partial disposal for a completely deprecated asset. This issue is now fixed.
  • Tax Depreciation: Assets with MACRS tax depreciation method, ‘half’ conventions, and fiscal periods generated incorrect tax depreciation schedules. This issue is now fixed.
  • Warranty, Service, and Insurance Details: The FA application failed to send email notifications to all the recipients who opted to receive an email for reminders related to asset warranty, service, and insurance. This issue is now fixed.

Historical Fixed Assets release information may be found here. The document provides important information to assist with the decision to upgrade from an existing version of Fixed Assets to the latest version. It also explains any approvals that must be supplied when authorizing system upgrade changes.

If you have any questions regarding this latest release or Sage Intacct Fixed Assets in general, please feel free to contact us.

 

Topics: Sage Intacct

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