The problem
In Sage Fixed Assets the placed-in-service date is a critical depreciation field. Change it on an asset that has already been depreciated and the software asks when the change should take effect, then recalculates. That is perfectly manageable for one or two assets. It is a different story when 400 assets from a construction project were placed in service three months too early, or an import mapped the acquisition date into the placed-in-service field for an entire year of additions.
Users who ask Sage support how to do this in bulk get a consistent answer: there is no mass change for the placed-in-service date, so it is done asset by asset, or Sage's professional services team can do it for a fee.
How we change placed-in-service dates in bulk
Angela Bolton built the Critical Field Updater in 2012 to solve exactly this, and it has been used on client data ever since. You give us the assets (by system number or company asset ID) and the corrected dates. For each group we agree on the effective-date rule: Placed-in-Service to recalculate from the new date as if it had always been right, or Current Thru, Beginning Date or Period Close when earlier depreciation needs to stay where it is. The tool checks each asset against those rules before anything is written, so an asset without a beginning date is never pushed through a Beginning Date change.
When the work is done you receive a before-and-after report of accumulated and current-year depreciation for every book you use, which is what your accounting team needs to post the GL true-up.
Common reasons for the change
- CIP assets capitalized before they were actually ready for use, or projects that slipped past the expected in-service date.
- Imports or AP links that used the invoice or acquisition date in place of the in-service date.
- Audit findings that a group of assets was placed in service in the wrong month or quarter, which changes the convention and the first-year depreciation.
- Dates that decide bonus depreciation eligibility, such as assets placed in service around January 20, 2025.
How the work is delivered
There are two ways to use the Critical Field Updater. Most clients start with a done-for-you project: you send the asset list and the new values, we agree on the effective-date rule for each group of assets, run a validation pass, make the changes, and hand back a before-and-after report by book that your team and your auditors can tie out. Clients who face these changes every quarter can run the same tool themselves through FAHA, our fixed asset platform, which connects to Sage Fixed Assets and keeps an audit trail of every change and who approved it.
Either way, every project starts with a full company backup in Sage Fixed Assets, and nothing is written until the validation report has been reviewed by a person on your side.
Frequently asked questions
Will changing the placed-in-service date reset depreciation on the assets?
It depends on the effective-date rule chosen. The Placed-in-Service option resets current, beginning and period-close depreciation to zero and recalculates from the new date on the next depreciation run. Current Thru, Beginning Date and Period Close keep earlier depreciation in place. We agree on the rule with you for each group of assets before anything changes.
Do the assets lose their history, like they would with a delete and reimport?
No. The assets keep their system numbers, their other book and general information, and their place in your reports. That is the main advantage over deleting assets and importing them again.
Can different books get different dates?
Yes. Tax, internal, state and custom books can each be updated or left alone, which matters when a correction applies to GAAP but not to the tax return already filed.
Which versions of Sage Fixed Assets do you work with?
Include your edition (Lite, Single User, Network, Premier or hosted) and version number in your quote request and we will confirm the fit before you commit to anything.