ARCHIVED: How to update to Sage Fixed Assets Premier Edition 2021.1

In this release, Sage has included the following important tax compliance updates. These updates apply to all Depreciation products.

U.S. Companies only

• The Section 179 expense deduction increased $10,000 to a maximum of $1,050,000 for tax years beginning in 2021. You can use the Tax Expense report to check how much Section 179 you have claimed across all assets in a tax year
• The Section 179 expense deduction for Sports Utility Vehicles (SUVs) increased $300 to a maximum of $26,200 for tax years beginning in 2021
• Automobiles (property type A) and Light Trucks and Vans (property type T) depreciation caps increased for vehicles placed-in-service during 2021 or later
• IRS Form 4562–Depreciation and Amortization is updated for tax years beginning in 2020
• First-year bonus rates (168 Allowance %) of 80%, 60%, and 40% were implemented for property placed in service in 2023, 2024, and 2025, respectively
• The ending dates of the tax incentives listed below are revised in accordance with the Consolidated Appropriations Act, 2021. These tax extenders previously ended 12/31/2020
  • Enterprise Zone designation for Section 179 purposes extended through 12/31/2025
  • Shorter recovery life of 3-years for certain racehorses extended through 12/31/2021
  • Shorter recovery life of 7-years for Motorsports Entertainment Complexes extended through 12/31/2025
  • Shorter recovery lives for Indian Reservation property extended through 12/31/2021
  • Section 179D for Energy Efficient Commercial Buildings extended permanently

See the Sage Fixed Asset Release Notes for further details

CAUTION: Use caution when working with the below product functionality. Always create a backup of your data before proceeding with advanced solutions. If necessary, seek the assistance of a qualified Sage business partner, network administrator, or Sage customer support analyst.

Note: The download of Sage Fixed Assets Premier version 2021.1 is a full version of the Sage Fixed Assets program. The downloaded file installs Sage Fixed Assets Premier Server side only. The Client will not be updated automatically and requires a second installation for the update process to be completed. See Updating the Client Sage Fixed Assets Network (Client Install) below.

Note: There are prerequisites required for Sage Fixed Assets to run properly:

• If the installation detects that the NET 4.5.2 framework is not currently on the system it will install it. A reboot is required after the .NET installation before the Sage Fixed Assets installation will complete.
• Sage Standalone SBDDesktop (Client only)
• Microsoft Visual C++ 2015 Redistributable Package (x86) See Error: "The type initializer for 'CrystalDecision.CrystalReports.Engine.CRPE' threw an exception." for a download of the prerequisite if it should fail.
• Microsoft ODBC Driver 11 for SQL Server (x64)
• Microsoft SQL Server System CLR Types 13.0.1601.5 (R2) (server only)
• Microsoft SQL Server System CLR Types 13.0.1601.5 (x64) (server only)
• Microsoft SQL Server 2016 Management Objects 13.0.1601.5 (R2) (server only)
• Microsoft SQL Server 2016 Management Objects 13.0.1601.5 (x64) (server only)

Note: To download Sage Fixed Assets Premier 2021.1, See Download Sage Fixed Assets Premier 2021.1 for instructions.

Note: For in place updates, a Database Conversion is required for all version of the program 2020.1.1 and prior. If not updating from 2020.1 or higher, see the Updating from older versions section below for the update paths available.

Updating from 2020.1, 2020.1.1 or 2021.0 through the Sage Advisor Update:

If the 2020.1, 2020.1.1 or 2021.0 is installed the Sage Advisor Update will have a notification of the 2021.1 release via a pop-up message in the Microsoft Windows system tray.

To check manually:

1. On the server where the Sage Fixed Assets Premier Server is installed: Click the Sage Advisor Update in the system tray or go to Start, All Programs, Sage, and open Sage Advisor Update
2. If the 2021.1 release is not listed, click the Check for Updates button and it will list the available updates
3. Put a check in the box beside the Sage Fixed Assets product listed and click Download & Install or Download Only
   • Download & Install: Will download the update and start the Installation process once the download has completed:
     
     Click Next, then Yes and Yes to uninstall the prior version then wait for the install to process to complete. Click Finish once completed
     
     
   • Download only: Later, you can either open the Sage Advisor Update and click the Download & Install button to start the installation or Browse to C:\Sage Advisor Update\Sage.US.SBS.SFA.Premier and right-click the setup.exe and select Run as Administrator to start the installation:
     
     Click Next, then Yes and Yes to uninstall the prior version then wait for the install to process to complete. Click Finish once complete
     
     
4. Once finished, the Install will prompt whether to launch the Database Utility - Premier Depreciation & Tracking. If No was selected: Go to: Start, Programs, Sage Fixed Assets, right-click the Database Utility - Premier Depreciation & Tracking and select Run As Administrator.
   
   Note: When prompted to log into the SQL Server on opening the Database Utility, a SQL User with SQL Administrator (SQL server role of sysadmin) permissions is required.

Sage Fixed Assets - Database Conversion

1. Click the Convert in the Database Utility - Premier Depreciation & Tracking:
2. Click Next, click Next, click Select All databases with a Conversion Status of Ready to Convert, click Next, click Convert, click Close when the conversion is complete
   
   Note: An Internet browser window opens that shows The names of the databases have been converted, and their status. See How do I convert data? for more details

The PDF Attachments path:

• Before exiting the Database Utility: Ensure the Attachments Path is in an UNC format and the Sage Fixed Assets users have Read/Write Permissions to the share. See How to setup PDF attachment folder Network or Premier Depreciation? for more details.

Updating the Client Sage Fixed Assets Network (Client Install):

Note: The following will need to be completed on all client workstations. If the currently installed client is version 2019.1.2 or prior, the existing client will need to be uninstalled before proceeding

1. Using windows explorer: Browse to and Run (as Admin) the SFAServ\Premier Client\Setup.exe. This is the folder to which the Sage Fixed Assets Network Server components were installed on the Server.
2. Click Next, click Yes, click Next and click Finish once the install process has completed.
   See How to install a client? for further details

 
Updating from older versions:

Note: For in place updates, a Database Conversion is required for all version of the program 2020.1.1 and prior. When updating from versions 2019.1 or prior the update paths are:

• If updating from 2019.1, 2019.1.1 or 2019.1.2, uninstall the 2019.1 and install 2021.1 then convert the database(s)
• If updating from 2018.1 or prior the databases cannot be converted directly to 2021.1. They will appear with a Conversion Status of Incompatible Version and will require a Sage Expert Services engagement to update. See How do I contact Sage Expert Services?
• If updating from 2013.0 - 2020.1 and moving to a new system, creating new databases in the new installation the Company Backup file (*.BBK) can restore directly into the 2021.1 product

Warning: If updating from 2018.1 or prior if 2021.1 is installed without following the update path the databases cannot be converted directly to 2021.0. They will appear with a Conversion Status of Incompatible Version and will require a Sage Expert Services engagement to update. See How do I contact Sage Expert Services? for details.

System Requirements: Sage Fixed Assets Premier Edition 2020.1 - 2021.1