How to Fix Sage Fixed Assets FASB 109 Report Generation Issues

The Sage Fixed Assets FASB 109 report error can occur when the FASB 109 Projection Report fails to run, omits assets, or displays unexpected depreciation and temporary-difference values. Because this report compares depreciation across accounting and tax books, the problem may involve report settings, book configuration, asset data, or the way depreciation has been calculated.

The FASB 109 Projection Report identifies temporary differences between selected financial statement and tax books and projects how those differences reverse over time. It is not simply a standard depreciation expense report.

Start by checking the report settings and required books. If the report runs but the numbers appear incorrect, review the underlying book data before changing any tax assumptions or asset records.

Why Is the Sage Fixed Assets FASB 109 Report Not Working?

The most important causes to investigate are:

• No financial statement book is open: Sage requires at least one financial statement book, such as the Internal book or a user-defined book, to be open before the report can be defined and run.
• Incorrect report configuration: The wrong group, book, date, or projection period can produce unexpected results.
• Incomplete depreciation calculations: Assets may not have been depreciated through the intended reporting date.
• Incorrect asset data: Depreciation methods, estimated lives, placed-in-service dates, or beginning depreciation figures may differ between books.
• Missing assets: The selected group may exclude assets, or the report’s date and asset status may affect which records appear.
• Unexpected AMT or ACE results: A zero or unavailable value in a particular column may be expected based on the applicable book settings rather than a calculation error.
• A version-specific reporting issue: If the problem began after a software update, a known product issue may need to be investigated.

The first task is to identify whether the report cannot run at all or whether it runs but produces unexpected results. These situations require different troubleshooting steps.

How to Fix Sage Fixed Assets FASB 109 Report Error?

Follow these steps in order. Menu labels may vary slightly by Sage Fixed Assets edition and version.

Step 1: Confirm That a Financial Statement Book Is Open

This is one of the first checks when the FASB 109 Projection Report is unavailable or cannot be defined. Sage Fixed Assets requires at least one financial statement book to be open. This can be the Internal book or a user-defined book used for financial reporting. To check the setting:

1. Open Sage Fixed Assets—Depreciation.
2. Select File, then Edit Company.
3. Open the Book Defaults tab.
4. Review the Open Book setting for the Internal book and any applicable user-defined financial statement books.
5. Confirm that the book you intend to use is open.

If no financial statement book is open, follow your company’s accounting requirements to open the appropriate book.

Important: Opening a book does not automatically populate it with the required asset information. If you have just opened a new book, you may need to populate its data using the appropriate book-copying or asset-entry procedure. Back up the company before making structural changes to book configuration.

If a suitable financial statement book is already open, continue to Step 2.

Step 2: Verify the FASB 109 Projection Report Settings

The FASB 109 Projection Report has its own report settings. An incorrect selection can cause missing assets or values that do not match your expectations. To review the report:

1. Open the Reports menu.
2. Select the FASB 109 Projection report.
3. Review the selected asset group.
4. Check the selected book.
5. Confirm the reporting date.
6. Verify the number of years to project.
7. Review the report configuration and output destination.
8. Run the report again.

The report supports projection periods from 1 to 99 years, beginning from the specified starting date. You can also select between a detail-and-summary report and a summary-only report. If you need to investigate individual asset values, choose the detail-and-summary option where available. If you need to compare the applicable financial statement book with the State book, check the option to print the additional State Book report.

What to check next: If the report now runs and includes the expected assets, the original problem may have been caused by its configuration. If it still fails, continue to Step 3.

Step 3: Run Depreciation Through the Correct Reporting Date

If the report runs but asset values or temporary differences appear outdated, check whether depreciation has been calculated through the date you are reporting. Sage Fixed Assets uses book-specific depreciation information in its reports. If an asset’s depreciation has not been calculated through the intended period, the report may not reflect the values you expect. Follow this sequence:

1. Identify the reporting date required for the FASB 109 report.
2. Open the affected asset and review its Current Through Date for the relevant books.
3. Check whether depreciation has been calculated through the required period.
4. If necessary, run depreciation through the appropriate date for the selected assets and books.
5. Rerun the FASB 109 Projection Report.

Use the calculation procedure appropriate for your edition. Before running depreciation for a large group, verify the date and books carefully. If the report still contains unexpected figures, do not assume that the report itself is faulty. The underlying asset data may be inconsistent between books.

Step 4: Check the Internal Book and Tax Book Data

The FASB 109 Projection Report compares depreciation data from different books. The Internal book generally represents depreciation for financial reporting, while the Tax book contains depreciation information used for federal tax reporting. Differences between the books are expected. They can arise because the books use different depreciation methods, estimated lives, or applicable depreciation rules. To investigate unexpected values:

1. Select an affected asset.
2. Open its detail record.
3. Review its Internal book information.
4. Review the same asset’s Tax book information.
5. Compare the depreciation method, estimated life, placed-in-service date, and depreciation amounts.
6. Check whether the differences are consistent with your accounting and tax policies.

For example, an asset may use a straight-line method for financial reporting and a different method for tax depreciation. This can produce a temporary difference that the FASB 109 report projects over time.

However, a difference is not automatically an error. Compare the figures with the company’s approved accounting and tax treatment before changing the asset record. If the data appears incorrect, correct the underlying record only after confirming the appropriate treatment with the responsible accounting professional.

Step 5: Fix Missing Assets in the FASB 109 Report

If an asset appears in the Asset List but is missing from the report, first determine whether it is excluded by the selected group or affected by its depreciation status. Check these items:

1. Selected group: Confirm that the group includes the asset.
2. Reporting date: Verify that the selected date is appropriate for the asset’s reporting period.
3. Depreciation status: Confirm that the asset has been depreciated through the required period where necessary.
4. Book information: Verify that the asset has valid information in the selected financial statement book and the relevant comparison books.
5. Asset status: Check whether the asset has been disposed of, transferred, or made inactive.

To isolate the issue, run the report for the affected asset alone if your version provides a Selected Assets option. Compare the individual result with the report for the larger group. If the individual report works but the group report does not include the asset, review the group criteria and report settings before changing the asset itself. If the asset is still missing, compare its information with a similar asset that appears correctly. This can help identify differences in status, dates, or book data.

Step 6: Investigate Unexpected AMT and ACE Values

The FASB 109 Projection Report can show comparisons between the financial statement book, Tax book, AMT book, and ACE book. Some values that look unusual may be expected under the company’s book configuration.

For example, for property placed in service after December 31, 1993, the ACE depreciation adjustment is no longer applicable. Depending on the company’s ACE book setup, Sage Fixed Assets may display NA for ACE depreciation and zero in the AMT-less-ACE column. If the ACE book is configured to emulate the AMT book, the report may calculate ACE depreciation equal to AMT depreciation, also producing a zero difference.

Therefore, a zero in the AMT-less-ACE column does not necessarily mean the report has failed. Before changing anything:

1. Identify the exact column showing the unexpected result.
2. Check the asset’s AMT and ACE book information.
3. Review the company’s book emulation settings.
4. Confirm whether the result is expected for the asset’s placed-in-service date and applicable configuration.

Do not change the ACE or AMT method simply to eliminate a zero or NA value. If the result does not match Sage’s documented behavior or your company’s intended setup, ask Sage support to review the specific asset and book configuration.

Step 7: Review the Projection Period and Reporting Date

If the report generates but the projected reversals or summary figures look incorrect, verify the reporting date and projection length.

The FASB 109 Projection Report uses the selected date as the starting point for its projection period. An incorrect starting date or number of years can change which periods appear in the report. Check the following:

• Is the reporting date the intended period-end date?
• Does the selected date align with the company’s reporting requirements?
• Is the number of projection years correct?
• Is the intended financial statement book selected?
• Are you comparing reports that use the same reporting date and compatible book selections?

Run the report again after correcting the settings.

If the projections still appear inconsistent, check the underlying depreciation data and the assumptions used for the deferred-tax analysis. Do not change the projection period just to force the report to match a separate spreadsheet.

Step 8: Check Whether the Problem Began After a Sage Fixed Assets Update

If the FASB 109 report error appeared immediately after a software update, confirm the installed version before attempting a repair.

1. Check the exact Sage Fixed Assets version and edition.
2. Identify whether the problem affects all companies or only one company.
3. Check whether other reports run normally.
4. Determine whether the error occurs when defining the FASB 109 report, running it, or reviewing its results.
5. Consult the official Sage support information for your version.

If the issue affects only one company, investigate its book settings and asset data first. If the issue affects multiple companies or began immediately after an update, a version-specific problem may be more likely. Do not reinstall Sage or restore a database as the first response. Those actions may not correct the underlying issue and can create additional problems if company data has changed since the last backup.

Step 9: Contact Sage Support if the Error Continues

Contact Sage support if the report still fails after checking the books, report settings, depreciation dates, and asset data. Prepare the following information:

• Exact Sage Fixed Assets version and edition.
• Full error message, if one appears.
• Whether the report fails to run or produces incorrect results.
• The reporting date and projection period.
• Which books are selected.
• Whether all assets or only certain assets are affected.
• Whether the problem began after an update or configuration change.

If the report produces unexpected deferred-tax figures, provide examples of affected assets and the relevant book values through your organization’s approved support process. Because FASB 109 reporting may affect financial reporting, do not change depreciation methods, tax assumptions, or book settings simply to make the report balance. Ask Sage support and your accounting professional to review the underlying data when the cause remains unclear.

How to Prevent Sage Fixed Assets FASB 109 Report Problems?

Use these practices to reduce future reporting errors:

• Keep book settings consistent with accounting policy: Confirm that the appropriate financial statement and tax books are open and configured correctly.
• Review asset records regularly: Check depreciation methods, dates, and book-specific values for accuracy.
• Calculate depreciation before reporting: Ensure depreciation is complete through the intended reporting date.
• Use consistent report parameters: Record the date, books, group, and projection period used for recurring reports.
• Back up before changing configuration: Protect company data before opening books, copying book data, or changing asset records.
• Compare report results carefully: Investigate unusual differences between the Internal, Tax, AMT, and ACE books instead of assuming every difference is an error.
• Keep software updated appropriately: Review official release notes and support guidance when a reporting problem begins after an update.

Conclusion

A Sage Fixed Assets FASB 109 report error may be caused by an unavailable financial statement book, incorrect report parameters, incomplete depreciation calculations, missing assets, or unexpected differences between depreciation books.

Start by verifying the required book settings and the FASB 109 Projection Report configuration. Then confirm that depreciation has been calculated through the intended reporting date and compare the Internal and Tax book data. Review AMT and ACE values in the context of the company’s book settings before treating them as errors.

If the report still produces incorrect results, investigate the affected assets and software version or contact Sage support. Avoid changing tax or depreciation assumptions until the underlying cause has been established.

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