Convert fixed assets to asset tiger

USA Discussion in 'Accounting Software' started by oksanakonstan, Jun 12, 2018.

  1. oksanakonstan


    Jun 12, 2018
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    I need to convert fixed assets into asset tiger. Old assets were on a half year convention, we are currently on a straight line method. Asset Tiger is a very straight forward, simple ERP system. There is no option to specify current accumulated depreciation in the system. I have cost, acquired date, life and the system does the work for you. As you may gather this is causing a lot of issues. I need to manipulate the data a bit, not an ideal situation.
    Basically my question is which way would be better?
    -Change the acquired date. (problem-auditors might ask to have a matching depreciation for this asset in the month I choose)
    -Change the life of an asset (Problem-let's say I have computers over 36 months life. Auditors might question why are you depreciation computers over let's say 30 years)
    Any suggestions are welcome.

    Thank you.
    oksanakonstan, Jun 12, 2018
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  2. oksanakonstan

    bklynboy VIP Member

    Oct 12, 2011
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    I have not used Asset Tiger but have converted my fixed assets between systems. I was able to load the historical data with original acquisition date and have depreciation continue as per old system. This should be allowed in any asset system so you may want to discuss with the vendor how they propose getting this in. You may have to load through a "back door" since just entering data likely is the issue since it assumes its a new purchase. This is how we got around it and was very easy to do.
    bklynboy, Jun 12, 2018
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