| Fixed Asset Software: Asset Accounting and Asset Inventory Solutions |
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Version 2006.1.1 of FAS 100 Asset Accounting and FAS 500 Asset Accounting
The Sage FAS Fixed Assets 2006.1.1 update has been released and is available only via download to all customers on an active Sage FAS SupportPlus plan. For partners with a current PartnerCare account, the software is available for download as well. Customers must have Sage FAS 2006.1 installed prior to installing this update.
Familiarize yourself with the latest enhancements to the industry-leading fixed asset management solution. The new product features and tax law updates provide a great opportunity to sell Sage FAS to more of your existing and new customers.
Inclusion of Page Setup Feature
Sage FAS 2006.1.1 now includes the "Page Setup" feature that was available in previous versions for easy switching between installed printers
Support for Gulf Opportunity Zone Property
The Gulf Opportunity Zone Act of 2005 provides several benefits for business located in states affected by hurricanes:
- 168(k) Allowance
The 168(k) Allowance has been extended for assets placed in service in the Gulf Opportunity Zone (GO Zone). An allowance of 50% is available for MACRS personal property and Sect. 167 computer software placed in service on or after August 8, 2005 and before January 1, 2008. Real property in the GO Zone can take the 168(k) Allowance until December 31, 2008. - Increased Section 179 Limits
The act provides increased Section 179 dollar limits for GO Zone assets.
| Year | Section 179 | Base Limit Increased Limit for GO Zone Property |
| 2005 | 105,000 | 105,000 + (cost of GO Zone property, limited to $100,000) |
| 2006–2007 | 108,000 | 108,000 + (cost of GO Zone property, limited to $100,000) |
- When you have property located in the Gulf Opportunity Zone, the Section 179 threshold amount is increased by the lesser of:
- $600,000, or
- The cost of the qualified Section 179 Gulf Opportunity Zone property placed in service during the taxable year.
- Investment Tax Credit (ITC)
The act provides for an increase to the Investment Tax Credit (ITC) amount for certain types of property located in the GO Zone. The rate for a certified historic structure (Code G) was increased from 20% to 26%. The rate for a pre-1936 building (Code H) was increased from 10% to 13%.
NEW Sage FAS Compliance Advisor - an easy to use reporting module that makes satisfying compliance requirements a breeze! 16 comprehensive reports that integrate with Sage FAS 100, 500 Asset Accounting. |
