GOVERNMENT AGENCIES have financial accounting requirements that differ from for-profit and other non-profit sectors. For starters, they require a specific COA schema, are required to strictly segregate funds, and must adhere to GASB 34 requirements. With some government agencies there are instances where fixed assets and GASB 34/35 requirements must be satisfied.
SAGE FAS GOV is a fixed asset system designed to meet the specific needs of government organizations and schools by easily and effectively satisfying the requirements of GASB 34/35. The latest GAAP accounting rules are incorporated in the depreciation calculation engine ensuring accurate fixed asset accounting and reporting.