New Features and Enhancements in Fixed Asset Management Spring 2025

The following new features have been introduced in the Spring 2025 release of Fixed Asset Management.

If you are upgrading from a previous version, see Upgrading to Fixed Asset Management Spring 2025. This provides a summary of the items that have been added for each feature and details of any required upgrade steps.

Dependencies on other Certinia Packages

Fixed Asset Management Winter 2025 requires the Accounting Winter 2025 package to be installed. You must install this package before installing or upgrading to Fixed Asset Management Winter 2025.

ERP Cloud Is Now Financial Management Cloud

Our financials product group has been renamed from ERP Cloud to Financial Management Cloud, which more accurately reflects the financial management capabilities Certinia provides for services organizations. While the name has changed, our commitment to helping services organizations achieve financial excellence remains consistent.

FAM Enhancements - MACRS Bonus Depreciation, FAM Permissions, and Fixed Asset Process Management

We have made enhancements to MACRS Depreciation, Fixed Assets Process Management and permissions.

MACRS Bonus Depreciation

We've updated the MACRS bonus depreciation rates to reflect the latest guidance from the IRS. Bonus depreciation is an additional first-year depreciation that allows business taxpayers to deduct additional depreciation for the cost of qualifying business property, beyond normal depreciation allowances.

Fixed Asset Management now supports the following bonus depreciation rates:

  • Bonus Depreciation to 100% for all qualified purchases made between September 27, 2017 and January 1, 2023

  • Bonus Depreciation reduced to 80% in 2023, and will be reduced to 60% for 2024. Bonus depreciation will continue to reduce for the following years: 40% for 2025, 20% for 2026, and 0% beginning in 2027.

You can see the applicable rate and amount using the Special Depreciation Allowance Percent and Special Depreciation Allowance Amount fields on the MACRS depreciation book.

For more information, see:

Fixed Assets Process Management

We've made the following changes to Fixed Assets Process Management:

  • Removed the Status field from the New Fixed Asset Process Management window, preventing any edits to this field. When a new entry is created, the default value for the Status field is now set to “Draft”.

  • Updated the Export as of Date field in the Generate and Export Depreciation Schedule window to display in the MM/DD/YYYY format consistent with the format used on the record page.

  • When the journal summarization feature is enabled for depreciation journals, the auto-posting option in Fixed Asset Process Management cannot be used. This is because once a journal is posted, certain values become locked, preventing Fixed Asset values from being summarized. Now, if journal summarization is active and impacts at least one Fixed Asset in a Fixed Asset Management process where auto-posting is selected, a prompt will appear, asking whether you want to proceed with generating and exporting depreciation schedules.

For more information, see:

Updates to FAM Permissions

We have updated the following permissions sets:

  • FAM - Fixed Asset - Submit for Approval
  • FAM - Depreciation Schedule - Export
  • FAM - Depreciation Schedule - Generate and Export

We have removed View All permissions from the following Accounting fields in the permissions sets.

  • FAM - Fixed Asset - Submit For Approval
    • Journals
    • Accounting Currencies
  • FAM - Depreciation Schedule - Export
    • Journals
    • Journal Line Item
    • Accounting Currencies
  • FAM - Depreciation Schedule - Generate and Export
    • Journals
    • Journal Line Item
    • Accounting Currencies

For more information, see:

Release Content

We want to help you find all of the information and help that you need to be productive with our products.

Certinia Academy

If you want to learn more about the new features in this release, see the FM Cloud - Spring 2025 Release Highlights Certinia Academy module. This module will guide you through the new features in Financial Management Cloud.

Fixes

Fixes are listed on the Known Issues page of the Certinia Community. You can access this page from the Community Support Hub. For a brief description of the issues that have been fixed in this version of Fixed Asset Management, see the relevant section of the Known Issues page.