Accounting Periods. Sage Evolution Standard

Below you will find brief information for software Evolution Standard. This user guide will help you to understand the basic functionality of the software which includes features like inventory management, sales and purchases, accounting, and contact management.

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• Fixed Assets Overview

Chapter 19 – Fixed Assets

Accounting Periods

You create a calendar the system uses to calculate depreciation. This calendar is an ever-expanding set of years, since assets can be very long-lived.

Over time, you can prevent changes in earlier periods in two ways:

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You can freeze a period so that no one can make changes that affect that period's values. This does not affect processing speed. It just prevents changes in periods that should not change.

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You can close periods at a certain point to speed up calculations. The system calculates and stores balances per asset up that point in time, so that it does not have to recalculate older depreciation amounts. You can reopen and then close periods if you need to.

Both these features are optional. If you have relatively few assets, and processing time is not onerous, you can leave the periods open and unfrozen.

Once you freeze or close a period, the system prevents you from making changes that would affect depreciation values in those periods. For example, you cannot create an asset with a purchase date that is within a frozen or closed period.

Grouping Assets

You have various ways of grouping assets. Some of these are fields in the asset record itself, and others are separate database records.

Multiple Units

You can group multiple assets that depreciate identically into one asset record. For example, if you purchase five identical desks, you can create one asset for these. This simplifies the asset register considerably.

You retain full flexibility with multiple assets. You can sell or dispose of one or more units, and you can split the asset into one or more separate assets at any time. You do this, for example, if you wish to transfer some of the assets to another cost centre or location.

Master and Sub Assets

Another way to group assets is by means of sub assets. One good use of sub assets is to add improvements to an existing asset. For example, you purchase a computer and set it up as an asset.

Later, you add an additional disk drive to the computer. You can create a separate asset for the disk drive, but then it becomes difficult to manage which disk drive is in which computer. Instead, you can create the disk drive as a sub asset of the computer asset.

Another example, staying in the computer realm, is to create the initial computer using sub assets. You can create each element of the computer such as the disk drive, memory, and monitor, as sub assets to the main computer asset. This increases your level of control of each computer – your asset listing shows the amount of memory, hard disk size, and monitor type.

A final example is if you split an asset, or sell or scrap a portion of an asset, such as 10 desks that you create using the multiple units feature. These processes all involve the creation of separate assets. By linking these to the original asset, you can easily view the history of the asset over time in the company.

Master and sub assets are normal assets in their own right. The only difference is that you link a sub asset to a master asset. You can link as many sub assets to a master asset as you like.

Asset type

You link each asset to an asset type. The asset type contains the book and tax depreciation methods for the asset. The asset type also contains general ledger information. The asset type is a compulsory code.

Cost Centre

This is an analysis code. You can optionally choose to use this code for general ledger expenses. If you do, its use is compulsory, otherwise it is optional.

Key features

Inventory management
Sales and purchases
Accounting
Contact management

Frequently asked questions

You can create a new company database using the System Manager. To do so, click on the "New Database" button and follow the on-screen instructions. The software will guide you through the process of creating a new database and setting up your company's information.

You can back up your database using the Database Management Console. To do so, click on the "Backup" button and select the database you want to back up. The software will then allow you to choose a location to save your backup file.

You can create a new customer by going to the "Customers" tab in the "Accounts Receivable" module. Click on the "New" button and fill in the customer's information. The software will then create a new customer record.

To process a sales order, go to the "Sales Orders" tab in the "Order Entry" module. Click on the "New" button and fill in the order details. The software will then create a new sales order.

User questions

Michael Y.

Is it possible to add new custom columns or User Defined Fields to document lines or transaction batches, such as Accounts Payable batches, in Sage Evolution Standard?

Adding new custom columns (User Defined Fields) to document lines or transaction batches, like Accounts Payable batches, is not a supported feature in Sage Evolution Standard. While existing grid columns can be customized for display (visibility, width, and sequence), entirely new custom columns cannot be added.

John N.

Is it possible to assign incidents to user groups?

Based on the provided document, you can assign agents to agent groups, which could be a way to manage incidents by grouping users. According to the manual, you use agent groups to group agents together by their function and set access control per group instead of per agent. This could streamline the process of managing incidents by assigning them to a group of users with similar roles or responsibilities. However, the document does not explicitly confirm assigning incidents directly to user groups, but managing access and permissions through agent groups is mentioned.