Overview

Information on the GRAGA AssetManager Pro 2015 (v4) upgrade.

Accessing the Upgrade

Upgrading from v1 or v2?

Upgrading from v1 or v2 of AssetManager or AssetManager Pro. Refer to our UPGRADE PAGE on our website for all the details on the key COMPLIANCE and FEATURE changes since the release of those versions over 14 years ago!

Upgrading from v1 and v2 to v4 has also never been easier. Using our new migration services we manage it for you, directly upgrading your file to v4.

Enhancements

GRAGA AssetManager Pro is a major release with full support for Windows Vista, 7 and 8 as well as a range of very important tax compliance updates and other changes.

In summary:

• Updated Command Centre (v4)
• Full support for Windows Vista, 7 and 8 (v4)
• Tax Compliance - changes in the asset write-off threshold ($6,500 to $1,000) for assets acquired after 1st Jan 2014 (v4)
• Tax Compliance - changes in accelerated depreciation for Motor Vehicles for assets acquired after the 1st of Jan 2014 (v4)
• Tax Compliance - changes supporting updates to GST and Depreciation Cost Limits on Motor Vehicles for the 2014 and 2015 financial years (v4)
• Support for MS Windows Server and Terminal Services (v4)
• Performance improvements (v4)
• New Monthly Depreciation Report (v4.1)
• File Management Improvements (v4.1)
• Asset Group Asset Rate and Effective Life Calculator (v4.1)
• Ability to enter Historical Assets (v4.1)
• Auto Update (v4.1)
• Formatted Excel Report Outputs (Asset Depreciation Reports) (v4.1)
• Support for Fuel Efficient Cost Limits/LCT (v4.2)
• High-DPI/Touch Screen Support (v4.2)
• Tax Compliance (2015 Budget) - 20k Immediate Depreciation for Assets up to 20k (v4.3)
• Asset Group and Asset Rate Type - Enter rate as either a Percentage Rate or Life. (v4.3)
• Ability to Active the Low Value Pool at anytime (v4.3)
• Bulk Write-Off (v4.3)
• Default Company File, Backup and Import/Export Location (v4.4)

Windows Vista, 7 and 8 support (v4.0)

Previously MYOB had advised that AssetManager Pro was not supported on Windows Vista, 7 and 8. GRAGA AssetManager Pro v4 will provide FULL SUPPORT, and we will be continuing to ensure it remains compliant with the release of Windows 10.

Tax Compliance - Asset Write-Off Threshold (v4.0)

As announced by the Australian Government as part of the Mining Tax Repeal, the $6,500 write -off threshold has been reduced to $1,000 effective for all assets purchased from the 1st of January 2014.

For more information refer to the ATO guide on Instant asset write-off and simplified depreciation.

Tax Compliance - Accelerated Depreciation for Motor Vehicles (v4.0)

As announced by the Australian Government as part of the Mining Tax Repeal, the $5,000 accelerated depreciation adjustment has been reduced removed effective for all assets purchased from the 1st of January 2014.

For more information refer to the ATO guide on Accelerated initial deduction for motor vehicles

Tax Compliance - Updated Motor Vehicle GST, LCT and Depreciation Limits Updated (v4.0)

Updated Motor Vehicle Cost Limits that are used to:

1. Determine the level (cost limit) for the calculation of GST (including where Luxury Car Tax applies)

2. Determine the level (cost limit) for the calculation of Depreciation.

The following years have been updated:

2007-08, 2008-09, 2009-01 ($57,180)

2010-11, 2011-12, 2012-13, 2013-14, 2014-15 ($57,466)

For more information on how this effects depreciation and GST, please refer to a comprehensive article from the Institute of Certified Bookkeepers - Motor Vehicles and GST.

Support for MS Windows Server and Remote Desktop(Terminal Services) (V4.0)

The AssetManager Pro Enterprise and Advisor Editions now support the application being installed and run from MS Windows Server and if needed access via Remote Desktop (Terminal Services)

For full details on supported MS Server versions, refer to the AssetManager Pro System Requirements

Note: Available with the Enterprise and Advisor Editions.

New Monthly Depreciation Report (v4.1)

Previously the it was not possible to show specific monthly depreciation amounts via the Depreciation reports - only the YTD amounts.

The new  Asset Monthly Depreciation List now enables reporting for a specific month, providing a detailed reconciliation to the monthly asset depreciation journal report and Accounting export.

File Management Enhancements (v4.1)

Previously when opening company files in AssetManager Pro, it would always return to the default "Documents" folder after you had opening a file from another location.

This often resulted in having to navigate again to that other location to open other company files.

v4.1 now stores the path of the last folder opened, returning to that within the same session of running AssetManager Pro.

Asset Group Asset Rate and Effective Life Calculator (v4.1)

Since the 1st of Jan 2001 the ATO has determined that assets you be calculated based on an effective life (vs. rate). However we still find many customers start using GRAGA AssetManager Pro with assets that have been depreciated using a rate setting.

To make it easy to get started, you can now enter the rate and use the calculator buttons to determine the equivalent effective life (or the other way around)

Ability to enter Historical Assets (v4.1)

Previously when creating company files with current financial years (2014 and 2015 for example) you could not enter assets with an Acquisition Date prior to the 01/07/2012.

v4.1 now allows entry and import of all historical assets.

New Formatted Excel Report Outputs (v4.1)

Previously you could generate an excel output by selecting the Export Report option when displaying the report. However this output matched the report meaning it inserted grouping and header lines with the body of the report making it difficult to use excel to quickly filter, sort, group and manipulate data and create totals.

You can now generate a new excel formatted output from the Excel button shown in the Report List. The reports currently supported include the following reports

• Asset Depreciation Monthly
• Asset Depreciation by Asset Group
• Asset Depreciation by Card
• Service Due
• Asset Service Log
• Transaction List

Auto Update (v4.1)

To ensure you are kept up to date with a range of enhancements and compliance updates that GRAGA has and will continue to release every month, there is now an auto-update feature that will automatically apply all updates.

* Major updates will only be applied to customers on active Support Plans

Tax Compliance - Support for Fuel Efficient Motor Vehicle Cost Limits (v4.2)

In conjunction with recent updates to Cost Limits for Motor Vehicles. Version 4.2 now support Fuel Efficient Cost Limits and LCT Thresholds

Refer to the ATO's Luxury Car Tax Rate and Thresholds info and tables for more information.

For more information on how this effects depreciation and GST, please refer to a comprehensive article from the Institute of Certified Bookkeepers - Motor Vehicles and GST.

Support for High-DPI Touch Screens (v4.2)

AssetManager Pro v4.2 now supports the general operation and the specific use of touch functions  for High-DPI Touch Screens

Asset Rate Type

To support users migrating form other Asset systems or spreadsheets that use a % rate for the depreciation of an asset - you can now set Asset Groups and/or Assets to enable the entry of a % Rate (and the resultant conversion to an Effective Life)

Use the new Rate Type option to select whether to enter a % Rate or an Effective Life.

Bulk Write-Off (Import)

Write-off a number of Assets at once with the Bulk Write-Off Import function. Simply Import the Asset IDs to write-off and set the write-off date.

Other Changes

* Report Filters (v4.2) - Previously in filters if you selected a certain Asset, Asset Group or Card to be displayed/printed, when you set the option back to Select All it would not clear the selected asset (although it would display All). This change now refreshes the screen so that it no longer displays the selected item.

* Report Columns (v4.2) - Various report columns adjusted to fit billion dollar numbers

* Import Assets prior to 01/07/2001 (v4.2) - Previously if you tried to import assets prior to 01/07/2001 it would report a -42 Error. This check has been removed and in line with the enhancements made in v4 around creating/import historical assets, assets acquired before 2001 can be now be imported.