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Disposing of Assets?????

Guest JKK

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It appears HomeManage is seriously lacking in how to track donation dispositions of assets.  It does an adequate job of treating asset sales, but what if you donate an item?  Records of asset disposition are just as important as the asset tracking when owned.  This is even more important as the population ages and desires to downsize from larger homes.  With all the detail on so many different aspects of an asset, it appears HomeManage, over the years, has been totally blind to donation disposition management.  The most critical being if you donate an asset to charity for a tax deduction!!!  Nothing in the system to track it for your records.  I highly suggest fields be added for asset donations - date donated, donated to, donation batches when numerous items are donated at the same time, valuation of donations, valuation source.  And, most importantly, reports detailing the donation, including an image, to provide support to the IRS if audited.  Another report to provide to the donation recipient that they can attach to their copy of the donation receipt.  Sorry for the rambling.. but HomeManage seems to miss the mark in a big way here.

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  • 1 year later...
On 4/28/2022 at 8:02 AM, Tessa said:

I agree with this suggestion - this is an important element that seems to have been overlooked.

Ok, we will address this in the next major update of HomeManage 2022.  Will be ready in the next several weeks.

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