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Key Code column definitions

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Summary

Definition of Key Codes used on reports in Sage Fixed Assets.

Description

 

 

Resolution

Many reports have a Key Code column. This column lists one or more lowercase letters that are keys to understanding how depreciation calculates for the asset listed. The keys are:

 

 

a

A depreciation adjustment amount (to adjust for taking too little beginning depreciation) is included in total accumulated depreciation.

b

The asset has had a business-use percentage of less than 100%. The business-use percentage reduces the asset's depreciable basis.

d

The asset has been disposed.

f

The asset has switched from the MACRS table depreciation calculation to the MACRS formula depreciation calculation because of a short tax year.

l

The asset's depreciation has been limited by the cap on annual recovery allowances for luxury automobiles.

m

The midquarter convention was applied to the asset's depreciation.

r

The asset's acquired value was reduced to arrive at the depreciable basis. Salvage value, Section 179 expense or bonus depreciation, ITC, 168 Allowance, or business-use percentage reduced the acquired value.

s

The asset switched from a declining-balance depreciation method to a straight-line depreciation method when straight-line depreciation resulted in more depreciation than declining balance.

t

The asset was transferred.

v

The asset has switched to a remaining value over remaining life depreciation calculation due to ACE rules.

 

For more information, access the User's Guide within the product by going to Help, User's Guide, and search for "Key Code Column"

 NOTE:  Not all assets will have a key code listed. If so, the assets are depreciating normally. 

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