New User - Setting Up Fixed Assets (N/L Structure)

[Jaxer]

I'm in the process of transferring entries from existing accounts software to Sage Line 50. My existing software has separate N/L account headings for FA - Cost Additions, FA - Cost Disposals, FA - Depreciation on Disposals on etc. I can see in Sage that the default structure seems to have only a simpler main and depreciation account.

I've been given conflicting advice from a couple of people I've spoken to and would appreciate any guidance here. One person told me to manually set up new accounts to reflect the existing setup and post any FA additions/disposals into the corresponding accounts. Another said its simpler to post all such additions/disposals into the main Sage N/L FA heading (0030 for example) as this would be picked up in the reporting.

I personally feel the first approach would provide more information if anyone was to look at a Trial Balance (ie. to be able to see the individual movements in various "sub" accounts rather than a consolidated amount in one account). What would be the implications for Reporting and Y/E Transfers if I was to set up a series of new individual N/L headings under the FA categories and do I need to do anything in the Chart of Accounts?

Thanks for any pointers.

[brucedenney]

I think this is a matter of personal preference.

I have done both methods at various times and both work fine.

Year end in sage will automatically work if you have a "combined" assets and disposals account and a "combined" depreciation and depreciation on disposal.

If you have separate accounts then you will need to do a set of manual journals to deal with the disposals.

The manual journals are no big deal but there is no great benefit to be had so I would use the more simple combined method.

However, these are your accounts and if you feel more comfortable with them separate then do them separate.