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OPEN SYSTEMS® Accounting Software Fixed Assets User`s Manual

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1. Fick Amper ID From CORPOTER 0001 03 THEW MELDEN 001 0 Retirement Code Fr cm Thcu OL As3el Aceouht From Thru RBetirerant Pate From TEE ti Fe lnk br i isaer TD 2 Estcicanant Code GL kamei Account EFirizzec pF vier di ids Sjereen El d 1 Enter the range of asset IDs you want in the report A14 2 Enter the range of retirement codes you want in the report Al Fixed Asset User s Manual 7 19 Credit Recapture Report Year End 3 Enter the range of general ledger asset account numbers you want in the report A12 The Inquiry F2 command is available if Fixed Assets is interfaced with General Ledger 4 Enter the range of retirement dates you want in the report 5 Select the item by which you want to organize and subtotal the report 6 Select the output device A sample Credit Recapture Report is at the end of this section After the report is produced the Year End menu appears 7 20 Fixed Asset User s Manual Credit Recapture Report Year End Credit Recapture Report 07 21 1999 9 31 AM Asset ID Description ASSET ID COMPUTER Builders Supply Credit Recapture Report by Asset ID Act Periods Life Early COMPUTER 0001 01 Micro Computer for Accounting TOTAL FOR ASSET ID COMPUTER ASSET ID CRANE CRANE 0001 01 Cranes Derricks TOTAL FOR ASSET ID CRANE GRAND TOTAL End of Report Total Credits Retired 33704 21 33957 40 Amount Recaptured 7 21 Fixed Ass
2. Lease vs Buy Analysis Use the Lease vs Buy Analysis function to compare the costs and advantages of buying or leasing an asset After you enter the factors that define the lease and the purchase the system produces an analysis in the form of a report Then if you want to compare different factors simply change any of them that you like and produce the analysis again Lease vs Buy Analysis Screen One Select Lease vs Buy Analysis from the Forecasting menu The first of two Lease vs Buy Analysis screens appears Sera Gaig a fot bjp H Fega I oft 2 Enuze a Buy a la Tris Husker Oparta Tet GE breil sis La ETTECEIVE THe Fate Humes of Years to inal yr J Inoremental Borrosing Bace B 0 Compounded Irraatrant Dance 00 Darte Flatbed in Berrice Oy 02 1398 Piscount Babe LEASE Buy Typa cf Lemma DFERETIHG Cemi Price 00 Perpayoent if Pave denn 0 comio to Take er Husker of Papranta a Payasitas per Teese 12 Expos or Humes of ist Tear Payeencea Credit co Taka A Expenses 00 r Varificaticm Peer Pgln to proceed Fixed Asset User s Manual 5 3 Lease vs Buy Analysis Forecasting 5 4 Field Trial Number N5 Starting Year of Analysis Number of Years to Analyze N2 Date Placed in Service Effective Tax Rate N2 Incremental Borrowing Rate 2 2 Compounded Investment Rate 2 2 Discount Rate N2 Description Use the trial number to keep track of different anal
3. Operation Search for items with a specified alias listed as an alternate item When you enter the alias you can use the and wildcard characters to restrict or widen the search Search for an item based on customer ID or vendor ID When you enter the customer or vendor ID you can use the gt and wildcard characters to restrict or widen the search 1 37 Function Commands Introduction Key Shift F5 Detail Lookup Shift F6 Lot Item Lookup Shift F7 Serial Number Item Lookup Shift F8 Item Description Lookup Report Commands 1 38 Operation Search for detailed information about an item You can enter search information in any of the fields that appear using any of the following wildcard characters to restrict or widen the search lt gt Search for an item based on lot number When you enter the lot number you can use the and wildcard characters to restrict or widen the search Search for an item based on serial number When you enter the serial number you can use the and wildcard characters to restrict or widen the search Search for an item based on item description When you enter the description you can use the and wildcard characters to restrict or widen the search You can use the following commands when a report is displayed on the screen Key PgUp PgDn Home End F7 Exit Left Arrow Right
4. cost of replacement The amount of money needed to replace the asset with a unit of equivalent utility cost of reproduction The total amount of money it would take to duplicate an asset as it was when it was new based on current market prices for materials and labor plus contractors overhead profit and fees declining balance depreciation methods A method of determining the periodic depreciation charge calculated by applying a multiple of the straight line rate to the asset s unrecovered cost depreciable cost The acquisition cost plus depreciable expenses related to the acquisition of the asset minus the salvage value 179 expensed amount and other predepreciation deductions depreciation The wearing out or loss of usefulness of assets whose cost of acquisition was a nondeductible capital expenditure Tax law allows a taxpayer to spread the exhaustible capital expenditures over the assets useful lives by periodic depreciation deductions discount rate An interest rate used to convert future payments to present values effective tax rate The total tax divided by the net income B 4 Fixed Assets User s Manual References Glossary Energy Tax Credit A tax credit effective 1981 1986 for investing in qualifying energy property Various properties qualified with various tax credit percentages estimated life The expected useful life of an asset from the date it was placed in service to the projected retirement
5. 24 6 6 00 00 60070 63 60070 63 NONE 0 0 Effective Tax Rate Incremental Borrowing Rate Compounded Investment Rate Discount Rate Cash Price Credit to Take Expenses 45000 00 SYD 5 0 60 07 1999 06 2000 6500 00 00 00 00 45000 00 00 45000 00 SYD 5 0 60 07 1999 06 2000 6500 00 00 00 00 Fixed Asset User s Manual 5 10 Lease vs Buy Analysis Forecasting 07 21 1999 Tax Savings at Tax Rate of 00 Lease Payments Expensed Amount Interest Income Net Expenses 15000 0 Tax Savings on Expenses Tax Credits Total Tax Savings Net Present Value at 00 amp L Effect Lease Payments Interest Income Tax Savings Total P amp L Effect Cash Out flows Lease Payments Expensed Amount Interest Income Tax Savings Net Cash Outflows Net Present Value at 00 62500 0 Lease vs Buy Analysis page 2 Builders Supply Lease vs Buy Analysis Trial 1 In Lease Analysis 15000 0 15000 0 Tax Savings computed assuming lease payments not lease expense are fully deductable Net Present Value is computed assuming period end flows and time zero at the beginning of the first year displayed Salvage residual value assumed to be zero Buy out provision of lease not considered 5 11 Fixed Asset User s Manual Forecasting Lease vs Buy Analysis Lease vs Buy Analysis page 3 07 21 1999 Tax Savings at Tax Rate of 00 Tax D
6. digits or declining balance you cannot enter anything Enter the number of accounting periods in the estimated life of the asset The estimated life based on the recovery period and the ACPRDxxx table appears at the bottom of the screen 5 7 Lease vs Buy Analysis Forecasting 5 8 Field Depreciation Begin Period pd yyyy Description Enter the accounting period and year you want to begin depreciating the asset The date the asset was placed in service which you entered on the first Lease vs Buy Analysis screen is displayed at the bottom of the screen This is not a date field Depending on the period system you use you can have as few as 1 or as many as 52 accounting periods in a year You must type the period number press Enter and then type the year and press Enter again Field Depreciation End Period Salvage Value Other Bonus Depr 179 Expense Applied Credits Select the output device Description After you enter the beginning accounting period and year the system uses the number of periods in the asset s estimated life that you entered to calculate the last period and year of depreciation Enter the estimated salvage value the asset will have at the end of its useful life The bonus depreciation is an extra amount the government lets you take with some qualifications during the first year of an asset s life If the asset is eligible for bonus depreciation enter the
7. s Manual 5 07 21 1999 Builders Supply 8 10 AM Trial Depreciation oO 5 Trial 1 oO Auto Stereo System _ o Q of Business Use 100 Base Cost 1230 08 Date Placed in Service 03 31 1992 Salvage Value 00 Periods per Year 12 Other Bonus Depr 00 179 Expense 00 Depr Method Table ID MO5P Applied Credits 00 Recovery Period 5 0 Switch to Method NONE Prior Eligible Depr 875 83 Prior Depr Taken 875 83 Estimated Life in Periods 60 No Years in Prior Depr 03 Depreciation Begin Period 01 1992 Depreciation End Period 01 1997 Print by Period or Year Print Year From Thru Accumulated Remaining Annual Current YTD Accumulated lt b Eligible Depr Depr Base Depreciation Period Depreciation Depreciation Depreciation D 1017 54 5 1159 25 End 1997 1230 08 a End of Report 5 m 5 D amp O ha LC j 5 25 Fixed Asset User s Manual Reports Additions Journal 6 3 Retirements Journal 6 7 Asset Value Report 6 11 Fixed Assets User s Manual 6 1 Additions Journal The Additions Journal contains the asset acquisition data you entered in the Fixed Assets function Use this journal to review asset acquisition and valuation information Additions Journal Screen Select Additions Journal from the Reports menu The function screen appears F USAS 1000 Faig Dat Fmi Elo Additions Journal Pick lamer 1D From AUTO Fzine Eq Tht YELPER co dl 1 ASSet 30 Tag Num
8. 40 year lt Oo III Other Depreciation Do Not Include Listed Property p GDS and ADS deductions for assets placed in service in tax years beginning before 1999 Pao Property subject to Section 168 1 election 2 nn D 18 ACRS and other depreciation s w nn O Part IV Summary Listed property Enter amount from line 25 E c Elected Cost 9000 00 17500 00 Part I Election To Expense Certain Tangible Property Section 179 NOTE If you have any Listed Property 7500 00 47563 70 200000 00 00 5 7500 00 NANA ANNAN NANA ANNAN 8 7500 00 9 7500 00 10 00 11 00 12 00 NN es cellular telephones nclude Method certain computers or property used for entertainment recreation or amusement Instead use part V for listed property g Depreciation deduction 921 73 36968 37 00 36968 37 9 9077 43 Fixed Asset User s Manual Depreciation Tax Report s ol Q 20 Total Add line 12 lines 14 15 in column g and lines 16 through 19 Enter here and on your return For assets shown above and placed in service during the current year enter the 83935 90 ANAND MA ANN 7 38 Depreciation Tax Report Year End 07 21 1999 9 51 AM a Type of property list vehicles first Property used more than Automobile Tan IMC Add amounts in column End of Report Depreciation Tax Report Tax Form 4562 Sum
9. 8 28 Look Up inquiry command 1 37 lot item lookup command 1 38 Maintenance function key 1 34 manual conventions 1 11 organization 1 11 Master File Lists Depreciation Tables List 9 11 Fixed Assets List 9 3 menu 1 7 Retired Assets List 9 15 Tables List 9 7 Menus conventions 1 13 Information 1 34 Other Command 1 17 1 33 Modified Accelerated Cost Recovery System MACRS 7 27 Fixed Assets User s Manual alphabetical sorting 3 4 0 Options and Interfaces function 1 10 3 7 3 8 3 9 OPTxxx table 8 23 OSAS conventions 1 12 FATAX file and different system versions 1 8 general information 1 3 running 1 12 setup considerations 2 5 structure 1 3 Other Command menu accessing 1 17 1 33 Other Depreciation Schedule 7 28 7 30 report 7 37 Other function key 1 33 output device printer 1 42 P parameters access code 1 13 command to start OSAS 1 12 company ID 1 13 format 1 13 general expression 1 13 order 1 13 terminal ID 1 13 partial key inquiry 1 36 1 37 Percent of Business Use Report function 7 45 produce after year end 7 43 screen 7 46 period depreciation computing before printing 4 8 Period Depreciation Journal function 4 12 notes on the journal 4 8 IX 5 Index References report 4 9 End 1 38 Period Work Exit 1 38 Compute Period Depreciation function 4 3 F7 1 38 menu 1 5 Home 1 38 Post Period Depreciation function 4 11 PgDn 1 38 Print Period Depreciati
10. Move the cursor to the next block of data on the screen or to the next field that requires an entry Move the cursor to the next field and accept the data entered Move the cursor up or back one field If you changed the information in the field you were in before you used this command the change is lost when you move the cursor up Tf verification is turned on you must press a key twice to verify that you want to perform that operation Tf the bell is turned on it sounds at an error or when you must verify a command Use this command to turn off the bell To turn the bell back on use this command again Tf this option is turned off the cursor stops at every field possible To make the cursor skip the fields that do not require an entry use this command to turn the option on Fixed Assets User s Manual Introduction Function Commands Key Operation Ctrl O Tf this option is turned on the applicable function keys are Show hide function displayed on the screen If this option is turned off no keys are keys displayed Help Commands When you use the Help F1 command three commands become available for you to use on help screens Key Operation F3 Delete the help screen contents Delete To recover a deleted help screen copy the xxHELP file from the distribution media to the PROGxx subdirectory xx is the application ID The copying process overwrites changes you made to other help screens F6 Edit a he
11. Pros BEGIWEEY Per lod Fersen Cu 000 A u u Cu DO OO DO Au ev 000 u Ev DO i ta 000 000 Pg n gt amp o poecesd Hak values M Paca Simi Percent Ase lin do 46 a a 00 00 47 oo 00 00 4 Er oo oc 4 Tal 00 00 50 Aaa 00 DO 51 ion oo 00 5 Lil oo 53 00 oo 54 oo 00 ES 00 OO sE 00 oo ST oo 00 Se 00 oo Es 00 on En 00 Because most depreciation tables do not fit on one screen you work with one column at a time The column has four sections which are displayed side by side lines 1 15 lines 16 30 lines 31 45 and lines 46 60 All the screens that is columns belonging to one table have the same table ID but are differentiated by the column number see below The Depreciation Tables screen is divided into two parts the header information and the column data Header information The header information identifies the table 8 32 Fixed Asset User s Manual File Maintenance Depreciation Tables 1 Depreciation tables are not company specific 2 If you set up your own depreciation tables do not use the letter M as the first character of the ID tables beginning with M are treated specially by the Fixed Assets system Field Table ID AS uppercase Copy From A5 Column Type Max Values Description A50 Description Enter the table ID This field appears only if you entered a new table ID To copy a table
12. Thru 1 Ccher GE det Accom From 4 A AM T TES 1 Book fogu Jager konoune From ye 2 Fedfas Thru Pepe Esp ionat Fror Thru Pate Flaced From Frint THE 1 ane Fror a Thru 1 visi From 4 Ther E apartat From Tisi 1 EFhrizkec p P vier w ile Sferesen E ad 1 Enter the range of asset IDs you want in the report A14 2 Enter the range of depreciation methods you want in the report A6 3 Enter the range of general ledger asset account numbers you want in the report A12 The Inquiry F2 command is available if Fixed Assets is interfaced with General Ledger Fixed Asset User s Manual 7 3 Depreciation Comparison Report Year End 4 Enter the range of accumulated depreciation account numbers you want in the report A12 The Inquiry F2 command is available if Fixed Assets is interfaced with General Ledger 5 Enter the range of general ledger depreciation expense account numbers you want in the report A12 The Inquiry F2 command is available if Fixed Assets is interfaced with General Ledger 6 Enter the range of dates assets were placed in service you want in the report 7 Enter the range of the three user defined location fields you want in the report A15 The names of these three fields are determined by the LOCATxxx table The default descriptions are Plant Division and Department 8 Select the first column you want to compare 9 Select the second column you want to compare You cannot compar
13. installed When working using the graphical menus you can use the pull down menus and tool buttons graphical icons to access functions without using the function keys While the function keys still work in the graphical menus the menu bar and icons offers you a choice in how you access certain functions Using the mouse move the cursor to the menu and click once or click on an icon for the function desired Pictured below is the OSAS pull down menu icon selection 1000 OMN SS TM Accounting Salina Fe Tew Frets he Heb asomo Fixed Assets User s Manual 1 23 Graphical Style Menus File Menu BE Dec esis gre Heim Command Icon Key Access code F4 Sample data set FS or Live Data set Workstation date F6 Exit F7 Access Code dialog box 1 Enter the access code Introduction Result Displays the Access Code dialog box See Access Code dialog box below Toggles between the Sample Data and the Live Data Displays the Workstation date dialog box See Workstation Date dialog box below Exits from OSAS 2 Click OK to save your entry and return to the Main Menu or Exit to abandon the dialog box and return to the Main menu 1 24 Fixed Assets User s Manual Introduction Graphical Style Menus Workstation Date dialog box al alain Ciar E jeornm PP je 1 Enter the date or use the up down buttons to increase or decrease the date 2 Select OK to change the work
14. 0001 Forklifts TOTAL FOR ASSET ID GRAND TOTAL End of Report Additions Journal Builders Supply Additions Journal by Asset ID Acq Date Owned New Personal Tax Depr Tax Dt Placed Leased Used or Real Method 03 02 1985 OWNED PERSONAL SL 03 02 1985 1 03 02 1985 OWNED PERSONAL SL 03 02 1985 4 03 02 1985 OWNED PERSONAL SL 03 02 1985 FORKLIFT Class 1245 1245 1245 Bus Use 100 100 100 Acquisition 421302 421302 160000 603319 6 5 Fixed Assets User s Manual Retirements Journal The Retirements Journal shows the reason for retirement retirement code estimated depreciable and actual depreciable life and base and depreciation costs retired for the retired items you select Use this information to analyze the depreciation of items that have been retired but not deleted Retired assets can be purged during year end maintenance Print the Retirements Journal before you use the Year End Maintenance function Retirements Journal Screen Select Retirements Journal from the Reports menu The function screen appears C SAS Tod Betirerentz Journal Fick Amat ID From CORROTER 0001 ci THEW MESDEI O01 a Recirerent Code From Tiru OL Asse Aceotint Fror Tiru Astirerant Pate From TRE i Pelnk Ei i basen Ib 2 Estiranant Code 1 GL eset koccant Tutpuk chovrice EPhrizkec pierda w ile Sfecsen E ad Fixed Assets User s Manual 6 7
15. 2 2000 2000 2000 2000 2000 2000 2000 TOTALS GRAND TOTALS End of Report 44999 Builders Suppl Amortization Sch Applied to Principal 613 04 618 624 630 y edule Interest 36 96 31 01 25 05 10 Page Remaining Cumulative Principal Interest 4993 31 9390 94 4374 32 9521 95 3749 37 9647 00 3118 47 9766 10 2481 61 9879 24 Fixed Asset User s Manual Trial Depreciation Use the Trial Depreciation function to forecast depreciation for proposed and existing assets to calculate depreciation for past periods that need to be adjusted and to compare the results of different depreciation strategies After you select the depreciation method and enter the numbers that affect the depreciable life and value of the asset the system produces a Trial Depreciation Schedule If you want to analyze different numbers you can change any of them and produce the schedule again Trial Depreciation Screen Select Trial Depreciation from the Forecasting menu The function screen appears ESAS TOA Tcial Depreeciation Trial Musiker i Copy From Ausser Tb AUTO Column Teles Descripcion Aci le Grey LA For al Musicaa Use 200 Dare Flaped in Berrios 051415906 Tage Sot 11000 00 Pecica per Teamr LI Salvage Valus 00 Depe Bethea BE Table iD ur Mhec Basis ep ou Reoorery Period 4 0 379 Expresar Seite to Mtkod ERNE ipp lied Scaditz 00 Estimated Life in Feciods
16. 23 b Is evidence written from function screen Fixed Asset User s Manual Year End Depreciation Tax Report 24 If more than three listed assets are placed in service during the tax year with 51 percent or greater business use See Listed Assets Schedule is printed along with the total listed asset amount if not the assets are listed individually 25 If more than three listed assets are placed in service during the tax year with 50 percent or less business use See Listed Assets Schedule is printed along with the total listed asset amount if not the assets are listed individually 26 Sum of lines 23 column h and 24 column h 27 Sum of lines 23 column i and 24 column i Fixed Asset User s Manual 7 33 Year End Depreciation Tax Report Listed Assets Schedule Depreciation Tax Report 07 21 1999 Builders Supply 9 51 AM Depreciation Tax Report Listed Assets Schedule Bus Basis for Recov Depr Deductible Asset ID Description Qty Use Base Cost Depreciation Per Method Depreciation 179 Expense Listed Properties AUTO 95 Automobile Tan IMC 35735 00 28588 00 3 0 MO3P 9077 43 8500 00 Subtotal of assets with more than 50 business use Total of listed properties 35735 00 28588 00 9077 43 8500 00 Fixed Asset User s Manual 7 34 Depreciation Tax Report Year End Depreciation Tax Report 179 Expense Schedule 07 21 1999 9 51 AM Asset ID Description COMPUTER 95 1 Color Monitor COMP
17. 27 7 41 7 45 8 3 8 23 8 31 8 35 9 3 9 7 9 11 9 15 A 1 B 1 Fixed Assets User s Manual Introduction General Information The Fixed Assets System Conventions Text Menu Graphical Style Menus Favorites Menu Function Commands Reports Fixed Assets User s Manual General Information The OPEN SYSTEMS Accounting Software OSAS product line consists of several accounting applications Each application addresses a different phase of your financial operations together they form a powerful accounting solution to your daily and periodic accounting needs The Structure of OSAS Resource Manager The Resource Manager application is the foundation or shell of OSAS it provides the operating environment that holds the other applications To use OSAS you must run Resource Manager through an operating system based on Microsoft Windows Windows 95 Windows NT UNIX or Novell NetWare OSAS operates on LAN systems across a web server using the OSAS Web program and within a single computer After you install Resource Manager you can use it to install other applications modify how each application works and specify how the overall system operates After Resource Manager is installed you can install the other applications in any order unless their user s guides specify otherwise The other applications are of two general types base applications and Tools of the Trade Base applications Base
18. 750 00 Total Number of Payments 60 First Payment Date 07 21 1999 Applied to Remaining Cumulative Amount Principal Interest Principal Interest 750 00 392 70 357 30 33709 67 357 30 750 00 398 66 351 34 33311 01 708 64 750 404 345 39 32906 40 1054 03 750 410 339 43 32495 83 1393 46 750 416 333 48 32079 31 1726 94 327 52 31656 83 2054 46 1999 TOTALS i 7 2054 46 01 2 i 5 321 57 02 2 i 315 61 03 2 A 309 66 04 2 y E 303 70 05 2 A 5 297 75 06 2 i 291 79 07 2 e 285 84 08 2 A 2 279 88 09 2 gt A 273 93 10 2 A E 267 97 11 2 262 02 12 2 256 06 7 8 9 0 1 2 3 4 5 6 7 8 1996 TOTALS 3465 78 9 01 2 z 250 11 20 02 2 7 244 15 21 03 2 i a 238 20 22 04 2 A 232 24 23 05 2 t 226 29 24 06 2 y s 220 33 25 07 2 A A 214 38 26 08 2 208 42 27 09 2 7 202 47 28 10 2 i 96 51 29 11 2 3 i 90 56 30 12 2 84 60 1997 TOTALS A 608 26 31 01 2 78 65 32 02 2 2 5 72 69 33 03 2 z i 66 74 34 04 2 60 78 35 05 2 P 54 83 36 06 2 A 48 87 37 07 2 i 42 92 Fixed Asset User s Manual 5 17 Loan Amortization Forecasting Amortization Schedule page 2 07 21 1999 5 18 38 39 40 41 42 1998 TOTALS 43 44 45 46 47 48 49 50 51 52 53 54 08 2 09 2 10 2 11 2 12 2 01 2 02 2 03 2 04 2 05 2 06 2 07 2 08 2 09 2 10 2 11 2 12 2 998 998 998 998 1999 TOTALS 55 56 57 58 59 60 01 2 02 2 03 2 04 2 05 2 06
19. Arrow Tab Toggle Operation Move to the previous page of the report Move to the next page of the report Move directly to the top of a group of pages Move directly to the bottom of a group of pages Exit to the menu from any point in the report Move left one character Move right one character Toggle between the left and right halves of a report Fixed Assets User s Manual Introduction Key Up Arrow Down Arrow Function Commands Operation Move a line up and down the screen to line up information when you toggle between halves of a report Scroll Region Commands When the prompt gt is in a line item scroll region you can use the following commands Key Down Arrow Up Arrow PgUp PgDn Home End F3 Delete Ins Insert Enter Edit Fixed Assets User s Manual Operation Move down one line item Move up one line item Move to the previous screen or to the first line if you are on the first screen Move to the next screen or to the last line if you are on the last screen Move to the first line item in the entire list Move to the last line item in the entire list Delete the line item at the prompt gt Insert a line item at the prompt gt Edit the line item at the prompt gt 1 39 Reports Selecting a Range of Information Sorting To produce a report you must specify the amount of information you want in the report e To pr
20. Journal different than Retired Assets List 9 15 function 1 6 1 7 6 7 8 35 produce before year end 7 41 report 6 9 screen 6 7 Right Arrow report command 1 38 RWCNVT table 8 30 Fixed Assets User s Manual References Index S scroll region commands 1 39 Down Arrow 1 39 End 1 39 Enter 1 39 F3 1 39 Home 1 39 Ins 1 39 PgDn 1 39 PgUp 1 39 Up Arrow 1 39 section 179 expense 8 19 sequence number 6 8 8 4 serial number item lookup 1 38 setup checklist 3 7 Shift F2 function key 1 34 Shift F5 inventory search command 1 38 Shift F6 inventory search command 1 38 Shift F7 inventory search command 1 38 Shift F8 inventory search command 1 38 sorting alphabetical 3 3 codes and IDs 3 3 principles of 3 3 Start Over function key 1 18 1 34 status active 8 10 new 8 10 retired 8 10 8 35 suspended 8 10 suffix ID 8 4 T Tab function key 1 34 report command 1 38 Tables depreciation tables 8 31 FATYPE 8 29 function 8 23 LOCATxxx 8 27 LOCATxxx screen 8 28 printing 8 30 Report Writer tables 8 29 RWCNVT 8 30 Fixed Assets User s Manual screen 8 24 TAXDTxxx 8 28 8 29 TAXDTxxx screen 8 29 tables 3 9 ACPRDxxx 3 9 3 11 3 12 4 4 4 5 4 8 5 7 5 21 7 41 8 18 8 19 8 25 CNVTxxx 4 5 depreciation tables 3 10 LOCATxxx 3 9 6 4 6 11 7 4 7 12 7 16 8 13 9 4 OPTxxx 8 23 TAXDTxxx 3 9 7 23 8 13 Tables List function 9 7 list 9 9 screen 9 7 Tax For
21. Retirements Journal Reports 1 Enter the range of asset IDs you want in the journal A16 Retired assets are identified by the standard asset ID plus a 2 digit sequence number 2 Enter the range of retirement codes you want in the journal Al 3 Enter the range of general ledger asset accounts you want in the journal A12 The Inquiry F2 command is available if Fixed Assets is interfaced with General Ledger 4 Enter the range of retirement dates you want in the journal 5 Select the item by which you want to organize and subtotal the journal 6 Select the output device A sample Retirements Journal is at the end of this section After the journal is produced the Reports menu appears 6 8 Fixed Assets User s Manual Retirements Journal Reports Retirements Journal 07 21 1999 8 26 AM Asset ID Description Retirement Reason ASSET ID COMPUTER COMPUTER 0001 01 Micro Computer for Accounting Fully Retired TOTAL FOR ASSET ID COMPUTER ASSET ID CRANE CRANE 0001 01 Cranes Derricks Fully Depreciated TOTAL FOR ASSET ID CRANE ASSET ID DRILL DRILL 0001 01 Drill Press Fully Depreciated TOTAL FOR ASSET ID DRILL End of Report Ret Code Builders Supply Retirements Journal Acq Date Ret Date Ret Amount 06 10 1989 05 30 1992 6329 84 6329 84 03 02 1985 02 28 1999 421302 59 421302 59 03 02 1985 02 28 1999 22016 54 22016 54 449648 97 by Asset ID B
22. Use this report as a resource when filling out IRS form 3468 Computation of Investment Credit Credit Summary Report Screen Select Credit Summary Report from the Year End menu The function screen appears 2 USAS 1000 Gara Cat Poe Elo credit Summary Peport Pick lamer 1D From AUTO Feine bp ThE BELPER c dl l ASSEL ID Tax Clase From 3 Tax Clase Thru 1 GL immat dccount OL Leet boami fram 4 Losaliin Thru i Date Fleeced From Tie Plant From Theu Bl isica Fron Fe Lot Thru i Heu mba Department From 2 Used Only Thu 1 How zul Ure Prisa p P vier M ile Sjersen E od 1 Enter the range of asset IDs you want in the report A14 2 Enter the range of tax classes you want in the report A1 Fixed Asset User s Manual 7 15 Credit Summary Report Year End 7 16 Enter the range of general ledger asset account numbers you want in the report A12 The Inquiry F2 command is available if Fixed Assets is interfaced with General Ledger Enter the range of dates assets were placed in service you want in the report Enter the range of the three user defined location fields you want in the report A15 The names of these three fields are determined by the LOCATxxx table The default descriptions are Plant Division and Department Select the item by which you want to organize and subtotal the report Select which type of assets you want in the report Select the output device A sam
23. User s Manual References System Messages 2 The function you are trying to access needs one or more files that are not on your system Use the Options and Interfaces function on the Resource Manager Company Setup menu to verify that the correct interfaces have been selected If that does not correct the problem get help from a support technician 3 You are working with the wrong company Return to the menu then use the Change Company F5 command to enter the ID you want In any case press Enter to get back to the menu correct the problem and select the function again Fractional years not allowed with sum of the years digits method You can use the sum of the years digits depreciation method only with assets whose depreciable life is measured in whole years Invalid date in directory file name You must convert the old data files before you switch to European format dates Use the Company Information function on the Resource Manager Company Setup menu to switch back to the American format dates and reconvert the data Invalid entry Value has opposite sign of acquisition cost Invalid entry Value has opposite sign of base cost Invalid entry Value has opposite sign of prior acquisition cost Assets can have either positive or negative value If you enter a positive acquisition cost subsequent values must be positive If you enter a negative acquisition cost subsequent values must be negative If you entered
24. Year End Maintenance Use the Year End Maintenance function for these tasks e add year to date depreciation to accumulated depreciation taken e add annual depreciation to accumulated eligible depreciation e reset the YTD Depreciation field to zero e calculate projected annual depreciation for next year increment the This Year field ACPRDxxx table by 1 e reset the Begin Period Ending Period and Process fields ACPRDxxx table to zero e delete assets retired before a date you specify You can perform year end maintenance for selected or all columns Before Year End Before you begin you must complete depreciation processing and post the periods for the columns you plan to process Back up your data files and print these reports e Additions Journal page 6 3 e Retirements Journal page 6 7 e Depreciation Comparison Report page 7 3 e Gains and Losses Report page 7 7 e Depreciation Summary Report page 7 11 e Credit Summary Report page 7 15 e Credit Recapture Report page 7 19 e Property Assessment Schedule page 7 23 Fixed Asset User s Manual 7 41 Year End Maintenance Year End Year End Maintenance Screen Select Year End Maintenance from the Year End menu The function screen appears DEAS TaN Saig Cat Pmi bjp r T Ea Mairana Mare pora Frocemrad All Faciode FLEST The TEac End Reports Prince che Fetiremspta Soursal Frinted che Addiction Jourrmml Packed Tp four Da
25. a RacElpcio n Auto Ice Bystan MOE TEOTAN OTHER d M T Bese Come 130 05 1230 08 1220 00 1210 08 Depr Bech Table LSP mar BDSP BL RBeosvery Period 5 0 5 0 5 0 5 0 Switch to Method PONE ROHE HOME HORE Est Lite Periods 0 La l sd Depr Fegin Period 0410506 Obl ieee OS ieee Dv j Depr Ead Period 012001 02001 par 200 Darron Cure Fl cal Tear 2973 LIT 1973 193 dalwvaje Value DO sl er Ot Othar Bonus Bape 00 Pl u Co 00 171 ipti DO AL a ON 00 Applied Coodica al Aa a Cu 00 ccos Elig Tapr 275 03 275 81 75 03 717 73 Accu Depr Taken STA AI 2735 51 873 53 717 73 knows Depr 141 71 141 71 Lai Ta Pta TTO Tage 10 EB 106 20 106 20 153 70 Cure Pepe 11 81 11 231 11 851 17 08 Remain Depo Base 135 16 235 16 26 1 41 55 r Vercificacioz Poems Pgln gt o proceed Fixed Asset User s Manual File Maintenance Fixed Assets The Depreciation subscreen has four columns showing book federal tax other and alternative minimum tax A M T figures This screen operates somewhat like a spreadsheet you can move up or down within a column and enter information that will later be used in depreciation calculations You can also move across columns keeping four sets of figures and comparing the results side by side To move from one column to the next use the Jump Tab command To move back to the first column use the Start over PgUp command To advance or move back through the fields in a column use the up and down
26. a code for each company a user needs to access You can use the same code for each company so that the user does not need to remember different codes For example you can set up the access code CHARM for companies A01 BO1 and CO1 so that a user can use the same code for each company What should be protected Because of the sensitive nature of some of the information in the Fixed Assets data files and reports you should limit access to the functions that provide confidential information or are sensitive to change For maximum security protect the Fixed Assets application itself each of the Fixed Assets menus and the individual functions After you have set up your access codes print a list of the codes and store it in a safe place For more information about access codes see the Resource Manager User s Guide Backup Schedule Plan a backup schedule before you begin day to day operations You can lose files because of disk drive problems power surges and outages and other unforeseen circumstances Protect yourself against such an expensive crisis by planning and sticking to a backup schedule Backing up data files Back up your Fixed Assets data files whenever they change every day or every week and before you run these functions e Compute Period Depreciation e Post Period Depreciation e Year End Maintenance e Retire Assets Fixed Assets User s Manual 3 13 Setup Checklist and Functions Setup Depreciation
27. adjusted cost of 1000 and you retire a quantity of 1 the calculated retirement amount is 250 and all the remaining dollar value fields in the asset record will be reduced to 75 percent of their preretirement value However if you change the retirement amount to 500 the dollar value fields for the remaining three units will be reduced to 50 percent of their preretirement value Retirement Proceeds Enter the amount of the funds derived from the retirement of the asset Retirement Expenses Enter the expenses related to disposing of or retiring the asset The system uses the net proceeds retirement proceeds less retirement expense in the Gains and Losses Report When you save your entries PgDn the second Retire Assets screen appears 8 38 Fixed Asset User s Manual File Maintenance Retire Assets Retire Assets Screen Two 0505 TOA Garu Dat fmi bain Patice Arante laser ID AUTO besstipcisn kursseihbile Grey Lac BEIE FETELE OTHER i nT Hage Coat iign Oo 14000 0 11000 0 14000 00 Depr Method Tabla ED ADF SL sro Sb Estimated Life in Per iiss aa 38 a4 34 focos Life 31 si 41 41 Dspreceiscion Begin Faciod DE 1905 DS 1595 0511535 DS 1551 Deprecioalion End Period CREE Oa 1990 Dar 1913 Dar 179 Sulveze Velo 1500 0 1500 1500 aber Bonus oO 175 Expense if 0 Jpplisd Cosita O hoc Eligible Pepo 658 6 6142 68 decom Depr Taken EX S 107 1 TTD Tepreciattion m33 1 1017 B Pessijining Pepe Base BETTE 3
28. amount If you want to claim all or part of the cost of the asset as a Section 179 expense enter the amount to be expensed Enter the credit you want to apply against the base depreciable value of the asset If you entered an amount in the Credit to Take field on the first Lease vs Buy Analysis screen that amount is displayed at the bottom of the screen Fixed Asset User s Manual Forecasting Lease vs Buy Analysis A sample analysis is at the end of this section After the analysis is generated the first Leave vs Buy Analysis screen appears and the Trial Number field is incremented by 1 Because your entries are preserved you can change a few numbers and produce another analysis When you are finished exit to the Forecasting menu Fixed Asset User s Manual 5 9 Forecasting Lease vs Buy Analysis Lease vs Buy Analysis page 1 07 21 1999 8 01 AM Starting Year of Analysis Number of Years to Analyze Date Placed in Service Type of Lease Prepayment Payment Amount Number of Payments Payments per Year Number of 1st Year Payments Credit to Take Expenses Net Present Value of Lease Base Cost Depreciation Method Table ID Recovery Period Switch to Method Estimated Life in Periods Depreciation Begin Period Depreciation End Period Salvage Value Other Bonus Depreciation 179 Expense Applied Credits Builders Supply Lease vs Buy Analysis Trial 1 07 21 1999 OPERATING 2500 00 2500 00
29. an asset has been retired you can delete its record during year end processing You must compute and post period depreciation before you retire assets Definition of Retirement When you retire an asset data related to the identification and value of the asset is copied to the FARJxxx Retirements file The data is available through the Retirements Journal and the Retired Assets List Retired assets are identified by the standard asset ID plus a two digit sequence number You can enter a maximum of 99 retirement transactions for an asset ID in a calendar year If you retire a single unit asset its status is changed to retired and a retirement date is put in the asset record If you retire part of a multiple unit asset the asset status does not change A multiple unit asset s status cannot be changed to retired until the entire dollar value of the asset is retired Dollar value fields in the portion of the asset remaining active are reduced in proportion to the dollar amount retired see later in this section During year end maintenance you can delete fully retired assets Fixed Asset User s Manual 8 35 Retire Assets File Maintenance Retire Assets Screen One Select Retire Assets from the File Maintenance menu The function screen appears SAS TON lira L Poe Edo pa Fatice Arantz haser 0 kOTO Beecription facmmeiobe Grey LAC bequisition bare 03 14 1905 hoquisizion Soar 100 00 Adjusted Com 11
30. and 999 Recovery Period 2 1 Enter the number of years in the asset s depreciable life The system uses this number and the information in the ACPRDxxx table to calculate the number of periods in the estimated life of the asset see below If you are using a depreciation table based on recovery period the system also uses this number to determine which column of the table to use Switch to Method A6 If you are using sum of the years digits or declining balance depreciation you can choose an alternative depreciation method for the end of the recovery period if it is to your advantage If you do not want to switch methods automatically enter NONE If you want to switch methods what you can enter depends on the primary method you chose If you selected sum of the years digits SYD for the primary depreciation method you can enter SL straight line If you selected a declining balance xxxDB method you can enter SYD or SL If you are using a depreciation method other than sum of the years digits or declining balance you cannot enter anything MACRS tables have a built in method to switch to Est Life Periods N5 Enter the number of accounting periods in the estimated life of the asset The estimated life based on Recovery Period appears at the bottom of the screen Depr Begin Period Enter the accounting period and year you want to begin pd yyyy depreciating the asset The acquisition date and date pl
31. any BBx program ge that does not require variables to be passed to it See the Resource Manager User s Manual Other Graphical Screen Features The graphical screens offer more than shortcuts to application functions In version 6 0 you can at a glance or with a mouse click determine the date and time switch between live and sample data and switch between companies and their data sets Date and Time Tut au Tine es iA PH The workstation date and time are displayed Fixed Assets User s Manual 1 27 Graphical Style Menus Introduction Data Set Duda Set C Lies Dita Bing Duis Check the Live Data radio button to work with live data Check the Sample Data radio button to work with sample data Change Company Field H Dade Tupp Select the company to change to 1 28 Fixed Assets User s Manual Favorites Menu Your Favorites menu saves time in moving between applications opening and closing submenus and application menus and allows easy access to your common applications By setting up your Favorites menu you can access your most used functions or submenus by pressing the F2 button or selecting the mouse pull down menu Favorites Menu Text Style Ferocitas Menu TODO F T i E BP TANDA El GTE s GL Edit Teansections If Transfers Jounal There are two ways you can set up your Favorites menu depending on if you use the text style menu or the graphical style menus To set up the t
32. are available The Fixed Assets system provides four sets of asset depreciation records book federal tax other and alternative minimum tax A M T In addition to calculating and tracking depreciation the Fixed Assets system offers a wide array of reports to help you keep on top of current depreciation It also offers planning utilities to help you determine the best methods for future depreciation Menu Structure The Fixed Assets menu structure is similar to the structure of other OSAS applications functions appear roughly in order of use File maintenance Use the functions on the File Maintenance menu to set up and maintain information about your fixed assets For example use the Fixed Assets function to establish and update information about your assets You will probably use the File Maintenance functions less often than any of the other Fixed Assets functions once to set up the system and each time you want to add or change a valid code or ID Period work After you establish the valid codes and IDs through the File Maintenance functions you can use the Period Work functions to compute depreciation for a specified accounting period produce a report to check the calculations and then post the depreciation to the assets records Fixed Assets User s Manual 1 5 The Fixed Assets System Introduction Forecasting The Fixed Assets system contains three forecasting functions that can help you make decisions about the
33. asset insurance and credits taken against the asset and to link the asset to general ledger accounts if General Ledger is interfaced Ser Valustion ari Condita lamer 0 nT 63 F Psacription dueo Stereo Syste 01 70 1596 Cogured Valta 1055 00 Asset Pate Asse Vale an Replacement Yalusarion bere Replagement Come ia Copia Dem Toral credita g dccumileted Cota Pipin EJ 00 dal Tae Tau Paid g OL kmet boone 14000 SL kcurailatad Depr keene 124500 OL Depe Erpizse keco nk 21000 r Veriftoerice Peer Pgln gt o proceed The asset ID with suffix ID and sequence number if any you entered on the Fixed Assets master screen and the description you entered on the General Information subscreen are displayed 8 14 Fixed Asset User s Manual File Maintenance Fixed Assets Valuation Use the valuation portion of the Valuation and Credits subscreen to record information about the asset insurance 1 Enter Y or N to indicate whether or not the asset is insured If you enter N you cannot access the Effective Date and Insured Value fields 2 If the asset is insured enter the effective date of the insurance 3 Enter the amount the asset is insured for 4 Enter the date the asset was assessed for tax purposes 5 Enter the assessed value of the asset 6 Enter the date the asset was assessed for replacement value 7 Enter the replacement cost of the asset Credits Use the credits portion of the V
34. calculates the current period depreciation and remaining depreciable base If you have not been calculating and recording depreciation or if you want to recalculate the depreciation for the entire lives of the assets follow these steps 1 Collect your assets records and organize them by the fiscal year you purchased the asset 2 Set up the Fiscal Year field in the ACPRDxxx table to the first year you purchased assets 3 Enter the required information on the General Information and Valuation and Credits subscreens for each asset Be sure to enter the correct acquisition and placed in service dates for each asset unless you use half year convention ACRS Then enter the base cost salvage value and other expenses and credits values on the Depreciation subscreen but leave the accumulated annual year to date and Current Depreciation fields blank 4 After you have entered the assets purchased in one year go back to step 2 and set the fiscal year to the next year you purchased assets Repeat steps 2 3 and 4 until all the assets records are entered Fixed Assets User s Manual 3 11 Setup Checklist and Functions Setup 5 After you have set up the assets records change the fiscal year in the ACPRDxxx table to the first year you depreciated assets Then use the functions on the Period Work menu chapter 4 to compute and post retroactive depreciation beginning with the period the oldest asset was placed in service 6 Co
35. date expenditure Payment of cash to obtain goods or services If an expenditure has the potential to benefit the company in the future it can be treated as an asset rather than an expense if capitalized See also capitalization expired life The time between the date the depreciation of the asset began and the current date See also remaining life FedTax depreciation One of four sets of asset depreciation records provided by the Fixed Assets system FedTax records are normally kept for federal tax purposes See also Book depreciation Other depreciation and A M T depreciation field A region on the screen that accepts input from the user also one element of a record in a file On the screen most fields are labeled file A collection of records stored under a particular name Function screens often represent files but you do not directly see a file See also table fixed asset Anything with a useful life of more than one year that is used to produce income and is not intended for sale Also called plant assets fixed assets include such things as buildings machinery land and natural resources fixed principal A loan type in which the principal amount applied to each payment remains the same while the payment amount varies each month function A menu item that leads to a full screen Most functions have a corresponding program See also program gain realized The positive difference between the amount received and t
36. during inventory and used for internal audit controls The tag and number are used to make sure that the asset is not missed or counted more than once back up To make a copy of data for archival purposes For example you would want to back up a history file before you purged history so that you could retrieve the data if you had to balloon payment The final payment larger than preceding payments on a debt that is not fully amortized B 2 Fixed Assets User s Manual References Glossary bonus depreciation Extra depreciation that the government lets the taxpayer take with some qualifications during the first year of an asset s life Book depreciation One of four sets of asset depreciation records provided by the Fixed Assets system Book records are normally kept for your company s general ledger See also FedTax depreciation Other depreciation and A M T depreciation capital asset Property held by a taxpayer except inventory held for sale depreciable property used in trade or business section 1231 assets or trade accounts and notes receivable Often the term refers to an investment in securities capital gain A profit on the sale or exchange of a capital asset capitalization The recording of expenditures that will benefit the company in a future period as assets rather than expenses capital lease A lease that is treated by the lessee as both borrowing funds and acquiring an asset to be amortized This
37. encounter an inconsistency Open Systems Holding Corp 1157 Valley Park Drive Suite 105 Shakopee Minnesota 55379 General Telephone 612 403 5700 General Fax 612 496 2495 Support Telephone 800 582 5000 Support Fax 612 403 5870 Internet Address www osas com Contents Introduction General Information The Fixed Assets System Conventions Text Menu Graphical Style Menus Favorites Menu Function Commands Reports Installation and Conversion Installation Conversion Setup Setup Considerations Setup Checklist and Functions Period Work Compute Period Depreciation Print Period Depreciation Post Period Depreciation Forecasting Lease vs Buy Analysis Loan Amortization Trial Depreciation Fixed Assets User s Manual 1 3 1 5 1 11 1 15 1 19 1 29 1 33 1 41 2 3 2 5 3 3 3 7 4 3 4 7 4 11 Reports Additions Journal Retirements Journal Asset Value Report Year End Depreciation Comparison Report Gains and Losses Report Depreciation Summary Report Credit Summary Report Credit Recapture Report Property Assessment Schedule Depreciation Tax Report Year End Maintenance Percent of Business Use Report File Maintenance Fixed Assets Tables Depreciation Tables Retire Assets Master File Lists Fixed Assets List Tables List Depreciation Tables List Retired Assets List References System Messages Glossary Index 6 3 6 7 6 11 7 3 7 7 7 11 7 15 7 19 7 23 7
38. enter osas at the operating system prompt The command can recognize three parameters t c and a 1 12 Fixed Assets User s Manual Introduction Conventions The terminal ID t is the identification code assigned to the terminal you are using to work with OSAS On multiuser systems each terminal usually has a default ID that was assigned when the terminals were added to the system Use the t parameter only when you want to log on with an ID other than the default ID The terminal parameter is valid only if you are using Resource Manager for LANs The company ID c is the identification code assigned to a company If your system carries two or more companies and you do not enter a company ID the menu of the company entered by the last person who used the terminal appears The access code a is your personal password Refer to the Resource Manager User s Manual for information about assigning passwords The most general expression for getting into OSAS takes all the parameters into account For example if you are on terminal 2 you want to work with company B and the password is lerxst specify that information to enter the system osas t T2 c B a lerxst You can enter the parameters in any order and you can use any combination You must leave a space between the parameter mark t c or a and the parameter itself Menu Conventions When you start OSAS the Main menu which presents the applications you can us
39. example if you have an asset with an annual depreciation of 1200 use a 12 period fiscal year and compute depreciation for only one period the system divides 1200 by 12 and puts 100 in the Current Depreciation field Current and Year to Date Depreciation When you use the Post Period Depreciation function the amount in the Current Depreciation field is added to the amount in the YTD Depreciation field and the Current Depreciation field is reset to zero If Fixed Assets is interfaced with General Ledger the total Book column current depreciation for active assets is debited to the depreciation expense account and credited to the accumulated depreciation account Fixed Assets User s Manual 4 3 Compute Period Depreciation Compute Period Depreciation Screen 4 4 Period Work Select Compute Period Depreciation from the Period Work menu The function screen appears Sergi Edt Pii Help Compete Period Tapraciaion Fromas Book TE FedTas TE CE ber TES A A T TE Book Tarrant Fiscal Yaer Lea Maier ot Periode in Fiscal Tear iz Mirb of Periods Procesoed This Tear a Espiral Period Lo Frasess Hor 10 Ending Pariod co Procura Hor 1d Fost Depreciatica to GL Period 7 Yecr ficerioe Fees Pire Eo Bee FadTax Orhac 48T 1539 1530 1938 if ti i J u 10 10 Lo io LO Lo The system checks the ACPRDxxx table to see if period depreciation has been computed If it has this prompt appears Period depr
40. from its disposal 1255 land for which you received payments for implementing conservation measures If you are not sure of the asset s tax class check with your accountant or the IRS Personal Real Personal assets are machinery or equipment Real assets are land and anything erected on growing on or attached to land For personal property enter P For a real asset enter R Status When you enter an asset record the asset has a status of new and you cannot change it When you enter the date the asset was placed in service the asset status changes to active If you take the asset out of service temporarily enter S to change the status to suspended To reactivate a suspended asset enter A You must use the Retire Assets function page 3 35 to change the asset status to retired You cannot dispose of an asset until it is retired Owned Leased Enter O or L to indicate whether you own or lease the asset 8 10 Fixed Asset User s Manual File Maintenance Fixed Assets Field New Used Acquisition Date Date Placed in Service Description Enter N or U to indicate whether the asset is new or used Enter the date the asset was acquired Enter the date you placed the asset in service You cannot begin depreciating an asset until you have placed it in service When you enter an asset it keeps its new status until you enter the date it was placed in service Then the asset status changes to active Once you hav
41. from the Favorites menu Allows you to switch between companies Displays the Access Code prompt Opens a menu of utilities A calculator and Global Inquiry which consolidates and presents information from other applications are some of the utilities on the Other Commands menu See the Resource Manager User s Manual for information about the utilities on the Other Commands menu Switches between live and sample data Displays the current workstation date and allows you to change it Exits from OSAS Allows certain functions to be set up Works only in certain applications The application s user s manual will describe the function if necessary Allows you to add to and delete from your Favorites menu Text Menu Introduction Key Shift F5 Change menu style Shift F2 Application Info PgUp Start over Tab Jump Enter Up Arrow Down Arrow Ctrl G Bell on off Operation Switch between text and graphical menu styles without going into Defaults Displays information about the applications you have installed Move back one menu level Move back to the Main menu Select a menu or function from a menu Move the cursor up or down through the menu selections Tf the bell is turned on it sounds at an error or when you must verify a command Use this command to turn off the bell To turn the bell back on use this command again Fixed Assets User s Manual Graphical
42. future of your fixed assets The Lease vs Buy Analysis function can help you decide whether to rent or purchase an asset The Loan Amortization function helps you determine the best combination of down payments and monthly payments for a loan The Trial Depreciation function helps you determine which method of depreciation best suits your needs Reports Fixed Assets offers three reports that summarize information from files e The Additions Journal contains the asset acquisition data you entered in the Fixed Assets function Use this journal to review asset acquisition and valuation information The Retirements Journal shows the reason for retirement retirement code estimated depreciable and actual depreciable life and base and depreciation costs retired for the retired items you select Use this information to analyze the depreciation of items that have been retired but not deleted The Asset Value Report shows the book assessed insured and at risk value of each asset Use it to review the individual or net value of your assets and to evaluate your insurance coverage Use the Reports functions as often as necessary to produce summarized information about assets statuses values and so forth Any single report can be valuable as you need it combined reports can be invaluable when you want to detect trends in your business s financial situation that a single function or report could not show Year end After doing a year s
43. in the Seq No field e Ifthe asset ID proper contains fewer than 9 characters use the space bar to account for unused characters For example if the full asset ID is AUTO872 where AUTO is the asset ID 87 is the suffix ID and 2 is the sequence number you must type five blank spaces after AUTO before you type 87 and then type two blank spaces before you type 2 This sequence ensures that the system reads the asset ID correctly When you press Enter each segment of the asset ID is displayed in its appropriate field e Type the asset ID proper in the Asset ID field Then press Enter and type the suffix ID in the Suffix ID field Then press Enter and type the sequence number in the Seq No field This method eliminates the need for entering blank spaces to compensate for unused characters 8 4 Fixed Asset User s Manual File Maintenance Fixed Assets Grouping similar assets You can group similar assets together for reporting purposes For example if you purchase two nearly identical drill presses you can label them DRILLPRES0001 and DRILLPRES0002 differentiating them by suffix ID Tracking additions separately You can track additions separately from the basic asset For example if you add a refrigerator to your existing delivery vehicle DELTRUCK_0001 you can label the refrigerator DELTRUCK_0001A thus grouping it with the truck in reports but making it possible to depreciate it separately Adding an asset If the asset suff
44. lease is recorded as both an obligation on the company s books and as an asset The lessor treats a capital lease as a sale in return for a series of future payments See also service lease capital loss A loss on the sale or exchange of a capital asset A capital loss is deductible against only capital gains for tax purposes Class Life System CLS A set of rules that determines lives for particular assets These rules apply to assets acquired before 1971 company In OSAS a business record associated with its own files tables and menu of applications convention A rule determining when depreciation will begin generally based on the date placed in service half year a half year s depreciation is computed for the acquisition year and the retirement year Fixed Assets User s Manual B 3 Glossary References month after depreciation starts the month after acquisition and ends the month after retirement zero and full no depreciation is taken in the year of acquisition and a full year s depreciation is taken in the year of retirement half and full a half year s depreciation is taken in the year of acquisition and a full year s depreciation is taken in the year of retirement month of depreciation depreciation begins in the month of acquisition and ends in the month of retirement conversion The process of updating existing files programs or applications to the current version See also installation
45. of the asset as a Section 179 expense enter the amount to be expensed 8 19 Fixed Assets File Maintenance Field Description Applied Credits If you want to apply credits to this column enter the amount The total credits from the Credits field on the Valuation and Credits subscreen is displayed at the bottom of the screen The total credits you entered on the Valuation and Credits subscreen is different from the applied credits you enter in this field Consult your accountant to determine what portion of the credits you should use to reduce the depreciable base Field Description Accum Elig Depr Accumulated eligible depreciation is the total potential depreciation accumulated for an asset up to the end of the last fiscal year It is the total depreciation that you could have taken if the asset had been used for business 100 percent of the time If you are entering a new asset press Enter to leave this field blank If you are entering an existing asset enter the depreciation that accumulated over the life of the asset through the end of the last fiscal year Accum Depr Taken The accumulated depreciation taken is the total actual tax deductible depreciation accumulated for an asset through the end of the last fiscal year If the asset was used for business 100 percent of the time the amount displayed is the same as the amount in the Accum Elig Depr field If the asset was used for business less than 100 percent o
46. periods in the fiscal year times the number of periods processed since the last post times the percentage of business use When you post depreciation ch sec the amount in the Current Depreciation field is added to the YTD Depreciation field and the Current Depreciation field is reset to zero After year end processing the amount in the YTD Depreciation field is added to the Accumulated Depreciation Taken field the YTD Depreciation field is reset to zero and the annual depreciation for next year is calculated Fixed Assets User s Manual Print Period Depreciation Period Work Period Depreciation Journal 07 21 1999 8 11 AM Description GL Asset Account 151000 BUILDING Corporate Headquarters BOOK FEDTAX OTHER A M T 10 Acres Corporate Site BOOK FEDTAX OTHER A M T Processed Current Fiscal Year Number of Periods in Fiscal Year Number of Periods Processed This Year Builders Supply Period Depreciation By GL Asset Account Beginning Period to Process Now Ending Period to Process Now Post Depreciation to GL Period Depr Depr Method Begin SL M27R SL 04 1993 04 1993 04 1993 150DB 04 1993 NONE NONE NONE NONE TOTAL FOR GL ASSET ACCOUNT 151000 GRAND TOTAL End of Report Est Life 197500 00 197500 00 197500 00 197500 00 45000 00 45000 00 45000 00 45000 00 242500 00 242500 00 242500 00 242500 00 BOOK 1999 12 9 10 Accumulated Depre
47. retiring 8 35 assets records 8 3 back up all files at once 3 14 data files 3 13 programs 3 14 using operating system commands 3 14 using Resource Manager 3 14 when to 3 13 base applications definition 1 3 bell turning on or off 1 18 1 34 books depreciating 4 4 Cc calculating depreciation 4 3 changing an asset 8 6 CNVTxxx table 4 5 codes establishing a format 3 4 setting up 3 4 sorting 3 3 Command help 1 17 1 33 closing window 1 17 1 33 commands in field editing 1 35 report 1 38 scroll region 1 39 company access codes for 3 12 company parameter 1 13 IX 1 Index References Compute Period Depreciation function 1 8 4 3 4 8 8 12 8 22 conventions report 1 41 user s manual 1 11 converting to OSAS version 5 0 2 6 Credit Recapture Report function 7 19 8 37 produce before year end 7 41 report 7 21 screen 7 19 Credit Summary Report function 7 15 produce before year end 7 41 report 7 17 screen 7 15 Ctrl F function key 1 34 Ctrl G function key 1 18 1 34 Ctrl V function key 1 34 cursor moving up or back one field 1 34 selecting item 1 37 D Data File Conversion function 2 5 2 6 data files backing up 3 13 delete information on a screen 1 33 line item 1 39 deleting an asset 8 7 depreciation books 4 4 generating initial values 3 11 how current depreciation is calculated 4 8 how it is calculated 4 3 of active assets 4 3 trial depreciatio
48. tables After you have completed Fixed Assets installation back up the FATAX Depreciation Tables file in your data path This file is not installed it is created when you install Fixed Assets Therefore if the FATAX file is corrupted you cannot simply recopy it from the distribution media Backing up programs Once a month or so back up your programs Even though these files do not change diskettes can be damaged or deteriorate so it pays to have a fresh copy in storage in case you need it Diskettes Keep more than one set of backups in case one set is bad or damaged Rotate the sets of backup diskettes keeping one set off site Use Resource Manager Use the Backup function on the Resource Manager Data File Maintenance menu to back up files You must back up all the files in the data path for a particular list of companies at once to ensure that you have up to date copies of the system files Do not try to use operating system commands to back up only a few files that have been changed if you do your system may not work after you restore them The Backup function backs up all the data files for a specified company in a data path at one time 3 14 Fixed Assets User s Manual Period Work Compute Period Depreciation 4 3 Print Period Depreciation 4 7 Post Period Depreciation 4 11 Fixed Assets User s Manual 4 1 Period Work 4 2 Introduction Period work consists of computing checking and then posti
49. taken and this field is cleared to get ready for the next year The depreciation to be taken in the current period is displayed Press Enter to accept it or enter a different depreciation 8 21 Fixed Assets File Maintenance Field Description When you use the Compute Period Depreciation function the system calculates the portion of the annual depreciation that can be taken in the current period and puts it in this field When you use the Post Period Depreciation function the system adds the current depreciation to the YTD depreciation and clears this field for the next period If Fixed Assets is interfaced with General Ledger and the status of the asset is active the amount in the Curr Depr field in the Book column is debited to the depreciation expense account and credited to the accumulated depreciation account you specified on the Valuation and Credits subscreen Remain Depr Base The total remaining asset value that is the base cost less the salvage value 179 expense amount bonus depreciation applicable credits accumulated eligible depreciation and YTD depreciation is calculated and displayed If the total depreciation plus reductions exceeds the remaining depreciable base a warning message appears Do not compute period depreciation or perform year end maintenance until you have corrected this situation When you save the Depreciation subscreen PgDn the Fixed Assets master screen appears 8 22 Fi
50. the Proceed PgDn command The following prompt appears Do you wish a printout of error log after each application If you want the error log to be produced after files are converted for each application enter Y if you want the log to be produced after files for all applications are converted enter N If you are converting only Bank Reconciliation files your answer to this prompt makes no difference If a problem occurs and you indicated that you want the system to pause when a problem occurs a prompt alerts you To stop the conversion process enter Y To let the conversion run its course and investigate later enter N When the process is finished the files are converted Select the output device for the error log After conversion is finished and the error log is produced the Main menu with Fixed Assets 6 0 added appears Fixed Assets User s Manual 2 7 Setup Considerations Fixed Assets User s Manual Setup 3 3 3 1 Setup Considerations After you have installed the software for the first time or after you have upgraded the software you must set up the system Follow the setup procedures carefully the choices you make determine how the system will operate Codes and IDs When you set up the system you assign codes and IDs to tell the system how to identify each item on file The system uses these identifiers to organize the information in reports and inquiry windows The system arranges code character
51. to the Depreciation Tables function on page 8 31 Fixed Assets 3 10 The FAMAxxx Fixed Assets file is the backbone of the system It contains the records of all assets and current year and historical depreciation information Use the Fixed Assets function to create or update fixed assets records If you are upgrading from an earlier version of Fixed Assets the FAMAxxx file is created and the initial balances on the Depreciation subscreen are set when you convert the old data files If you are installing Fixed Assets for the first time you must collect the up to date information about the assets you own and enter the information into the FAMAxxx file before you begin operations Fixed Assets User s Manual Setup Setup Checklist and Functions Generating initial depreciation values You can generate the initial depreciation values in one of two ways depending on two factors e whether or not you calculated and recorded depreciation before using this application e whether or not you want to recalculate the depreciation for the entire lives of the assets If you have been calculating and recording depreciation all along and do not want to recalculate first enter the base cost salvage value other expenses accumulated depreciation from prior years annual depreciation projected for the current year and year to date depreciation taken in each asset record Then begin processing with the current period The system
52. worth of period work use the Year End functions to produce a number of useful reports to update the Fixed Assets files and to prepare the system for another year of computing period depreciation 1 6 Fixed Assets User s Manual Introduction The Fixed Assets System Master file lists Information that you enter in the File Maintenance functions is kept in major files Use the Master File Lists functions to produce the contents of the files details about assets depreciation tables and retired assets File Information The information you enter in Fixed Assets functions is stored in files Fixed Assets uses three major files The FAMAxxx file holds arbitrarily defined attributes that you can assign to each asset This file serves as a permanent source of information data stays in this file until you remove it The Fixed Assets file is the backbone of the system It contains assets records and current year and historical depreciation information Use the Fixed Assets function to create fixed assets records The FARJxxx file is an internal file created and maintained through the Retire Assets function You can use the Retirements Journal and the Retired Assets List to see the contents of this file When you retire an asset in part or in whole the system creates a retirement record in the FARJxxx file using information from the FAMAxxx file and information you enter during the retirement see File Interaction below The FAT
53. 0 Remaining Depr Base 00 00 00 00 End of Report Fixed Assets User s Manual 9 17 System Messages Messages on the screen or in a report indicate error or tell you how to enter data or what is happening in the function you are using Self explanatory messages are not listed ACPRDxxx is not on file The ACPRDxxx table has been deleted Restore the data from the most recent backup and try again An error occurred while converting files Conversion aborted An error occurred wile creating files File creation aborted If an error occurs during data file creation or conversion a message that describes the problem appears Then this message appears on the RM Data File Conversion Creation screen to inform you that the process has been aborted Correct the problem described in the first message and try again Asset has unposted current depreciation You must complete period work before you retire an asset You cannot retire an asset with an unposted amount in the Current Depreciation field Basic Error nn Host Error xxx Line nnnn Program xxxxxx Basic Error nn Line nnnn Program xxxxxx A serious error has occurred Write down the information that is displayed and get help from a support technician Fixed Assets User s Manual A 1 System Messages References Blank date not allowed once asset has been active After you switch an asset s status to active by entering the date the asset was pla
54. 000 00 tiva Qiantity El Ceedita Geserigcion Total Credits 00 Ferien Reon Feciremant Coia Peine Dale Facirement Qusacicy A Fei irement Amcunt 11000 0c0 Perice Proceeds E Seciremene Erpansan 00 r NMerifiostiom Peer Pgln gt o proceed You can retire only active assets You cannot retire active assets with unposted amounts in the Current Depreciation field Field Description Asset ID A14 Enter the full ID including suffix ID and sequence number of the asset you want to retire 8 36 Fixed Asset User s Manual File Maintenance Retire Assets Field Retirement Reason A30 Retirement Code Al Retirement Date Retirement Quantity N6 Description The asset description and credit information from the asset record appear If there is unposted current depreciation an error message appears You must either post the depreciation or use the Fixed Assets function to clear the Current Depreciation field The credit fields Acquisition Date Acquisition Cost Adjusted Cost Active Quantity Credits Description and Total Credits display the credit value that was taken when you acquired the asset as recorded on the Valuation and Credits subscreen If you took credits when you acquired the asset and are retiring the asset before the end of its estimated depreciable life you may need to recapture a prorated share of the credits Consult your accountant or the IRS to determine if you a
55. 1987 The ACRS system is based on a four type property classification scheme with each property type subject to a fixed depreciation percentage for each year of the property s life See also MACRS account A storage unit of financial data in accounting usually grouping related information under one account number or account ID accounting period A period of time in accounting used to provide distinct units of time you can work with For example you might want a report to include transactions done within a particular accounting period accumulated depreciation taken The portion of an asset s accumulated prior year depreciation that can be deducted from the owner s taxes Accumulated depreciation taken is based in part on the percentage of business use If an asset is used for business 100 percent of the time all the depreciation accumulates in this field If the asset is used for business less than 100 percent of the time only the business portion of the depreciation accumulates in this field See also accumulated eligible depreciation accumulated eligible depreciation The total amount that an asset has depreciated before the current fiscal year for both business and nonbusiness use adjusted basis The basis used to compute gain or loss on disposition of an asset for tax purposes Fixed Assets User s Manual B 1 Glossary References Alternative Minimum Tax depreciation A M T One of four sets of asset depreciation r
56. 2 3 2 5 2 1 Installation You can put this version of Fixed Assets on the system in one oftwo ways you can install anew system or you can convert the old files and upgrade the system Installation is explained in this section Before You Install Fixed Assets You may need to take some preliminary steps before you install Fixed Assets 1 If you plan to use General Ledger with Fixed Assets install and set up the current version of General Ledger first 2 Install Fixed Assets The Fixed Assets system needs a minimum of one megabyte 1M to work correctly with programs sample data Report Writer data dictionaries and Report Writer reports and instructions Having another megabyte available is a good idea if you want to keep summary and detail history for transactions The system runs best when at least 640 kilobytes of main memory is free for use You might want to make adjustments to your system before you install Fixed Assets Installing Fixed Assets Use the Install Applications function in Resource Manager see the Resource Manager User s Guide to install Fixed Assets No special considerations need to be made for Fixed Assets when you use the function Fixed Assets User s Manual 2 3 Conversion You can put this version of Fixed Assets on the system in one oftwo ways you can install anew system or you can convert an older version of Fixed Assets to the current version keeping your older files intact When
57. 24 Prier Eligible Dept 512 80 bepceniarion Begin Feciod Era Frioc Peer Tales 6612 60 Depreciation End Period OSS 0990 Re Fears in Price Depr 03 Fein by Period oe Fear Fit TERE Dwtput Cevrice CPhcintec Fixed Asset User s Manual Frink Teme From 1957 Thru 12 FIR evire e ile 5 cromo E od 5 19 Trial Depreciation Forecasting Field Trial Number N5 Copy From Asset ID Column Description A30 Pct of Business Use N3 Date Placed in Services 5 20 Description Use the trial number to keep track of different analyses The trial number is 1 whenever you enter this function and is incremented by 1 each time you generate a Trial Depreciation Schedule The trial number is reset to 1 when you exit to the Forecasting menu Press Enter to accept the displayed number or enter a different number If the asset you want to analyze is like an asset in the FAMAxxx Fixed Assets file you can copy the cost and depreciation information from a column in the existing record Enter the ID of the asset you want to copy If you do not want to copy information from an existing asset record press Enter to skip this field If you elected to copy an asset record select the column you want to copy B Book Default F Federal Tax O Other A Alternative Minimum Tax Enter a brief description of the asset Enter the percentage of time the asset is used for business rather than f
58. 3 Total afrenta 17148 72 Fick Year From 1530 Thru 2007 HApue device EPhcintec p F evirt W ile Sfecsen E ad Field Description Loan Description A35 Enter a brief description of the loan Fixed Asset User s Manual 5 13 Loan Amortization Forecasting 5 14 Field Loan Type First Payment Date Payments Per Year N99 Loan Principal Annual Percentage Rate 2 4 Total Number of Payments N3 Balloon Amount 7 2 Principal Per Period Description Select the type of loan you are working with S straight loan R rule of 78s loan B balloon payment loan F fixed principal loan Press Enter if the first payment is due on the date that is displayed or enter the date the first payment is due Enter the number of payments you will make in a year If you are working with a straight line or rule of 78s loan enter the loan principal or press Enter to leave this field blank If you leave the field blank the system calculates the principal after you enter the payment amount below If you are working with a balloon payment loan enter the loan principal If you are working with a fixed principal loan enter the loan principal or press Enter to leave this field blank If you leave the field blank the system calculates the principal after you enter the principal per period below Enter the yearly compounded interest rate Enter the number of payments you will make during th
59. 380 54 Insurance 233235 00 233235 00 00 Assessment 257790 00 257790 00 End of Report Asset Value Report Asset Value Report Fixed Assets User s Manual 6 12 Year End Depreciation Comparison Report Gains and Losses Report Depreciation Summary Report Credit Summary Report Credit Recapture Report Property Assessment Schedule Depreciation Tax Report Year End Maintenance Percent of Business Use Report Fixed Asset User s Manual 7 3 7 1 7 11 7 15 7 19 7 23 7 27 7 41 7 45 7 1 Year End 7 2 Introduction Perform the functions explained in this chapter in the sequence they are presented Each report explained before the Year End Maintenance function serves as a valuable backup and can help you maintain your audit trail After performing year end maintenance produce the Percent of Business Use Report Fixed Asset User s Manual Depreciation Comparison Report The Depreciation Comparison Report shows the base costs depreciation methods accumulated and year to date depreciation and year to date difference for any two columns you select Use this report to compare depreciation amounts and methods Depreciation Comparison Report Screen Select Depreciation Comparison Report from the Year End menu The function screen appears E 0545 100 Gina Eat Pmi bein r Depreciation Comperizon Fapoct Pick iseer I From AUTO Ar ine Tkzu AUTO 1 Book Pepe Mrina From ds Pedra
60. 39 8 r Verification Pome Pgln o proceed The second screen is similar to the Depreciation subscreen page 3 3 except that it is a view only screen A few fields that are not relevant to retired assets are absent The Actual Life field shows the difference between the asset s estimated depreciable life and its actual service life To change something on this screen use the Start Over PgUp command to go back to the first Retire Assets screen To cancel the retirement exit to the File Maintenance menu When you approve the retirement PgDn the cursor returns to the Asset ID field enter another asset ID or exit to the File Maintenance menu Fixed Asset User s Manual 8 39 Master File Lists Fixed Assets List Tables List Depreciation Tables List Retired Assets List Fixed Assets User s Manual 9 3 9 7 9 11 9 15 9 1 Fixed Assets List The Fixed Assets List contains the data you entered through the Fixed Assets function Use the list to review asset identification acquisition valuation and depreciation information Fixed Assets List Screen Select Fixed Assets List from the Master File Lists menu The function screen appears Sas 1m Gain Ls Pert Bien Fr Fina areta List Fick mraz Ib From AUTO Prinz by The WELFER Gi i Basen 11 Teg Kusher From 5 Tag Humer Thru 3 Gh kamet Acct IL 4500 Bete From 4 Locali n Thru i Plant From The Prone i Division Fron i Ausive
61. 4 11 6 3 6 8 6 11 7 3 7 8 7 12 7 16 7 20 7 24 7 46 8 15 8 22 9 3 9 16 menu structure 1 5 section 179 expense 8 19 sequence number 8 4 setting up 3 10 setup checklist 3 7 setup considerations 2 5 suffix ID 8 4 system requirements 2 3 tables 3 9 8 23 tracking additions separately 8 5 Valuation and Credits subscreen 8 14 8 19 8 22 Valuation and Credits subscreen screen 8 14 Valuations and Credits subscreen 3 11 4 8 8 37 Fixed Assets General Information subscreen 8 17 Fixed Assets List function 8 27 8 28 9 3 list 9 5 screen 9 3 Forecasting Lease vs Buy Analysis function 5 3 IX 3 Index References Loan Amortization function 5 13 menu 1 6 Trial Depreciation function 5 19 function keys Ctrl F 1 34 Ctrl G 1 18 1 34 Ctrl V 1 34 Esc 1 17 1 33 Fl 1 33 F2 1 17 1 33 F3 1 33 F4 1 33 FS 1 33 F6 1 34 F7 1 17 1 34 F8 1 34 PgDn 1 34 PgUp 1 18 1 34 Shift F2 1 34 Tab 1 18 1 34 Up Arrow 1 34 G Gains and Losses Report function 7 7 produce before year end 7 41 report 7 9 screen 7 7 General Information subscreen 3 11 8 6 8 8 8 17 8 18 8 27 8 28 summary screen 8 6 viewing summary of 8 6 General Ledger installing before Fixed Assets 2 3 interfaced with Fixed Assets 1 10 3 7 3 9 4 3 4 11 6 3 6 8 6 11 7 3 7 8 7 12 7 16 7 20 7 24 7 46 8 15 8 22 9 3 9 16 generating initial depreciation values 3 11 GLJRxxx
62. 8 26 File Maintenance When you enter the table ID the rest of the ACPRDxxx table appears E USAS 1500 Gira de Emi hip lab 12 LO da PRADA Husker of Cola Tour WL Peziod Jr rere E BEE Fila n DES LPL SDE Ly PEC io Dale Column Lerch 13 Type i 15 3 2 a f o i c a y 173 1953 1553 Field No Periods 1 52 This Year 1 52 Begin Period 1 52 Endng Period 1 52 Fiscal Year Description Enter the number of accounting periods in your book federal tax other tax and alternative minimum tax fiscal years The number of periods processed to date is stored here when you compute the period depreciation When you create the table leave this row blank The first period processed is stored here when you compute the period depreciation When you create the table leave this field blank The last period processed is stored here when you compute the period depreciation When you create the table leave this field blank Enter the current fiscal year in all the columns Fixed Asset User s Manual File Maintenance Tables Field Description GL Period 1 52 The general ledger period is stored here when you compute period depreciation When you create the table leave this field blank Process The book you choose to process when you compute period depreciation is stored here When you create the table leave this field blank LOCATxxx Table The LOCATxxx t
63. AX file contains the depreciation tables supplied by the IRS The original file with the established most recent tables comes with the Fixed Assets system As tax regulations change use the Depreciation Tables function to revise the tables and add new ones The FATAX file is read by functions throughout the Fixed Assets system Most important the Year End Maintenance function uses it to calculate annual depreciation for the next year Fixed Assets User s Manual 1 7 The Fixed Assets System Introduction The FATAX file supplied with Fixed Assets version 6 00 is markedly different from that supplied with Fixed Assets version 3 x If you are upgrading from Fixed Assets version 3 x see chapter 2 File Interaction The Fixed Assets application tracks asset depreciation General information about assets insurance and credits taken against assets and information asset depreciation calculations are based on and the results of the calculations that are kept in the FAMAxxx file When you create an asset record you define the estimated annual depreciation for the first year of the asset s life the depreciation method is stored in the FATAX file When you use the Compute Period Depreciation function the system divides the annual depreciation by the number of periods you are processing multiplies the result by the percentage of business use and enters the product in the Current Depreciation fields in the columns you are proce
64. All Columns see Process above The period number that is displayed is based on the current system date and the CNVTxxx table For information about the CNVTxxx table see the Resource Manager User s Guide Press Enter to post to the general ledger period that is displayed or enter the period you want the depreciation posted to Use the Proceed PgDn command to start the process As the system computes the current depreciation for each asset the asset ID is displayed at the bottom of the screen When the system is finished computing depreciation the Period Work menu appears Fixed Assets User s Manual 4 5 Print Period Depreciation The Print Period Depreciation function produces a journal of accumulated depreciation taken and the year to date annual and current depreciation for active assets Print the journal after you compute period depreciation use it to check your figures before you post period depreciation When your figures are correct save the journal as part of your audit trail You can compare it to the Post Period Depreciation Log Print Period Depreciation Screen Select Print Period Depreciation from the Period Work menu The function screen appears Ser Faig Dat Foe Elo Fr nk Feriod Tsgescist ion Frooems hoc FeiTax Orther A MN T SWEFEeht Fiscal Tear 173 15393 1333 1333 Naber of Perioda in Fingal Tear iz ts 13 13 Marber of Periode Foocegsed This Yaar a a 7 Beginning P
65. L ASSET ACCOUNT 154000 GRAND TOTAL End of Report BOOK FEDTAX OTHER A M T BOOK FEDTAX OTHER A M T BOOK FEDTAX OTHER A M T Builders Supply Percent of Business Use Report by GL Asset Account Depr Est Depr Beg Per Life Method Base Cost 11000 00 11000 00 11000 00 11000 00 1230 08 1230 08 1230 08 1230 08 35735 00 35735 00 35735 00 35735 00 47965 08 47965 08 47965 08 47965 08 Accumulated Elig Depr 7333 70 9500 00 9500 00 11000 00 1017 54 1017 54 1017 54 922 68 3801 42 9077 43 13399 38 21838 06 12152 66 19594 97 23916 92 33760 74 Accumulated Depr Taken 7333 70 7125 00 7125 00 8250 00 993 92 993 92 993 92 888 53 3801 42 9077 43 13399 38 21838 06 12129 04 17196 35 21518 30 30976 59 Annual Depreciation 00 00 00 00 141 71 141 71 141 71 204 93 4147 00 11657 57 10151 04 7396 94 4288 71 11799 28 10292 75 7601 87 47965 08 47965 08 47965 08 47965 08 12152 66 19594 97 23916 92 33760 74 12129 04 17196 35 21518 30 30976 59 11799 28 10292 75 7601 87 7 47 Fixed Asset User s Manual File Maintenance Fixed Assets Tables Depreciation Tables Retire Assets Fixed Asset User s Manual 8 3 8 23 8 31 8 35 8 1 Fixed Assets Use the Fixed Assets function to create and maintain your assets records An asset record contains all the information pertaining to an asset and its de
66. Lists Tables List Tables List 07 21 1999 Builders Supply 10 43 AM Tables List Fixed Assets Table ID ACPRDH Description Accounting Periods table No of Columns Column Length 12 Type A Description No Periods This Year Begin Period Endng Period Fiscal Year GL Period Process End of Report Fixed Assets User s Manual 9 9 Depreciation Tables List The Depreciation Tables List shows the table name description and type recovery period or month placed in service for the depreciation tables you select The detailed list also shows the percentage and maximum amounts for the columns in the table Use the Depreciation Tables List to verify the accuracy of the depreciation tables you are using Depreciation Tables List Screen Select Depreciation Tables List from the Master File Lists menu The function screen appears Ste Galia Dat Pers Bien Isgrecistion Tables List Fick Table ID From 01752 CPhecintec p F evire dip iie Sjermen E od 1 Enter the range of depreciation table IDs you want in the list A5 Fixed Assets User s Manual 9 11 Depreciation Tables List Master File Lists 2 Select the amount of information you want to include summary depreciation table headers only or detail depreciation table headers and all columns 3 Select the output device A sample Depreciation Tables List is at the end of this section After the list is produced the Master File Lists menu appe
67. OOK FEDTAX OTHER A M T BOOK BOOK FEDTAX OTHER A M T BOOK FEDTAX OTHER A M T BOOK FEDTAX Depreciation Begin Period 6 1989 6 1989 6 1989 1999 3 1985 3 1985 3 1985 1999 3 1985 3 1985 3 1985 1999 End Period 5 1992 5 1992 5 1992 1999 2 1999 2 1999 2 1999 1999 2 1999 2 1999 2 1999 1999 Est Life Act Base Cost Retired 6329 84 6329 84 6329 84 00 6329 84 6329 84 6329 84 00 421302 59 421302 59 421302 59 00 421302 59 421302 59 421302 59 00 22016 54 22016 54 22016 54 00 22016 54 22016 54 22016 54 00 449648 97 449648 97 449648 97 00 Depreciation Retired 6329 84 6076 65 6329 84 00 6329 84 6076 65 6329 84 00 413302 59 379598 38 413302 59 00 413302 59 379598 38 413302 59 00 22016 54 20265 22 22016 54 00 22016 54 20265 22 22016 54 00 441648 97 405940 25 441648 97 00 6 9 Fixed Assets User s Manual Asset Value Report The Asset Value Report shows the book assessed insured and at risk value of each asset Use it to review the individual or net value of your assets and to evaluate your insurance coverage Asset Value Report Screen Select Asset Value Report from the Reports menu The function screen appears 1 2 Enter the range of asset IDs you want in the report A14 Enter the range of tag numbers you want in the report A20 Ente
68. OPEN SYSTEMS Accounting Software Fixed Assets User s Manual PN 2210 FA60 1998 Open Systems Holdings Corp All rights reserved Document Number 2210 FA60 No part of this manual may be reproduced by any means without the written permission of Open Systems Holdings Corp OPEN SYSTEMS is a registered trademark and OSAS Resource Manager Resource Manager for Windows and Report Writer are trademarks of Open Systems Holdings Corp BB is a trademark and PRO S and Visual PRO S are registered tradmarks of BASIS International Ltd Novell and NetWare are registered trademarks of Novell Inc Microsoft Windows Windows 95 Windows NT and MS DOS are either trademarks or registered trademarks of Microsoft Corporation Adobe and Acrobat are registered trademarks of Adobe Systems Inc TrueType is a registered trademark of Apple Computer Inc Open Systems Accounting Software for UNIX uses PKUNZIP utilities from Ascent Solutions Inc 9009 Springboro Pike Miamisburg OH 45342 Phone 937 847 2374 Internet www asizip com Printed in U S A This manual is recyclable April 1999 Release 6 00 This document has been prepared to conform to the current release version of OPEN SYSTEMS Accounting Software Because of our extensive development efforts and our desire to further improve and enhance the software inconsistencies may exist between the software and the documentation in some instances Call your customer support representative if you
69. PUTER ASSET ID CRANE CRANE 0001 01 07 21 1994 BOOK Asset Not in Master Fil 07 21 1994 FEDTAX Business Use 02 28 1999 OTHER Tax Class A M T TOTAL FOR ASSET ID CRANE GRAND TOTAL End of Report Gains and Losses Report Retired Base Cost 6329 84 6329 84 6329 84 6329 84 6329 84 6329 84 00 421302 59 421302 59 421302 59 421302 59 421302 59 421302 59 00 Builders Supply by Asset ID Retired Accum Depr 5950 60 6076 65 5450 70 5950 60 6076 65 5450 70 00 406511 70 372807 49 406511 70 406511 70 372807 49 406511 70 00 6790 89 6790 89 6790 89 6790 89 6790 89 6790 89 00 Retired Reductions Net Sale Proceeds 8000 00 41704 21 8000 00 8000 00 41704 21 8000 00 00 427632 43 427632 43 427632 43 00 412462 30 378884 14 411962 40 00 7170 13 6790 89 7670 03 00 7850 00 41554 21 7850 00 00 7 9 Fixed Asset User s Manual Depreciation Summary Report The Depreciation Summary Report shows the base costs depreciation methods accumulated and year to date depreciation remaining depreciable base and estimated life for all columns Use this report to review depreciation methods and amounts and to collect the information you need to fill out tax forms Depreciation Summary Report Screen Select Depreciation Summary Report from the Year End menu The function screen appears SAS TON Geige Eat font ben
70. Style Menus There are two types of graphical style menus to choose from The standard Graphical menu features application buttons that resemble many Windows functions The Start Main menu is named because of its functional resemblance to the Start menu in Windows 95 and Windows NT Featuring graphical displays access buttons for your installed applications and allowing access to OSAS functions via both the mouse and function keys both graphical style menus allow you a greater selection of interaction with OSAS and your data Both graphical style menus are available in a Windows environment only Much like the Text menu when you select an application in either graphical menu the application s menu presenting several related functions is displayed beside the Main menu Selecting a function leads you to a function screen or to another menu If you are using the Graphical menu click the appropriate button with the mouse to select an application from the Graphical menu To select a function from an application menu click the function s button with the mouse the same way as you do for an application If you choose the Start menu you can select applications from the Main menu in these ways e Use the arrow keys and press Enter Click the selection Hold the mouse over the selection From any application menu you can select a button from the previous menu to move directly to that menu If you are several menu levels away from th
71. Thru Z atirei Department Fiom Bes Thru 34 Kane E Lil Front 3 1 ary z Tamil Eubpei derice Ifieintez piRjlevries hie ting 1 Enter the range of asset IDs you want in the list A14 2 Enter the range of tag numbers you want in the list A1 3 Enter the range of general ledger asset account numbers you want in the list A12 The Inquiry F2 command is available if Fixed Assets is interfaced with General Ledger Fixed Assets User s Manual 9 3 Fixed Assets List Master File Lists 9 4 4 Enter the range for each of the three user defined location fields you want in the list A15 The names of these three fields are determined by the LOCATxxx table The default descriptions are Plant Division and Department 5 Select the amount of information you want to include summary only asset identification and manufacturer information or detail all information in the asset record 6 Select the item by which you want to organize the list 7 Select the kind of assets you want in the list 8 Select the output device A sample Fixed Assets List is at the end of this section After the list is produced the Master File Lists menu appears Fixed Assets User s Manual Master File Lists Fixed Assets List Fixed Assets List 07 21 1999 10 43 AM Builders Supply Fixed Assets List Detail By Asset ID Asset ID AUTO 92 gt 2 Description Manufacturer Model Number Serial Number Tag Nu
72. UTER 95 2 Computer Equipment 1999 Total of 179 Properties Not Listed Total of 179 Listed Properties Total of All 179 Properties Builders Supply Depreciation Tax Report 179 Expense Schedule Base Cost 1276 44 10552 26 11828 70 35735 00 47563 70 Depr Deductible Method Depreciation M0501 331 87 M0504 589 86 9077 43 179 Expense 9000 00 9000 00 8500 00 9999 16 17500 00 7 35 Fixed Asset User s Manual Year End Depreciation Tax Report Depreciation Tax Report New MACRS Assest Schedule 07 21 1999 9 51 AM Property Class 5 year property 5 year property Builders Supply Depreciation Tax Report New MACRS Assets Schedule Mo Yr Basis for Asset ID Description in Svc Depreciation COMPUTER 95 1 Color Monitor 05 1999 1276 44 COMPUTER 95 2 Computer Equipment 1999 12 1999 10552 26 Depr Method Depreciation Deduction Fixed Asset User s Manual 7 36 Depreciation Tax Report Year End 07 21 1999 9 51 AM Asset ID FT PLANER SAW WELDER OFFICE Depreciation Tax Report Other Depreciation Schedule VreEeHrNDHEHRND Description Computer Equipment 1994 Color Monitor Refrigerator FAX Machine File Cabinets Walnut Desk Chairs Portable Computer Book Shelves Corporate Headquarters Bldg Computer Equipment 1993 Portable Computer Computer Equipment 1992 office Equipment 1992 Computer Equipment 1991 Office Equipment 1991 Mi
73. YES 03 31 1992 1000 00 1230 08 SL 5 0 NONE 60 07 1992 06 1997 1996 YES 9 5 Tables List The Tables List shows the number of columns column length and type and data for any or all Fixed Assets tables Use the Tables List to keep records and verify contents of the Fixed Assets tables you are using Tables List Screen Select Tables List from the Master File Lists menu The function screen appears USAS TD Gara Cat Poe Ebel r Tabler Liat Applicatica From FA Thera Fa Table 1p Fosa Thru press Blank Lines TEA Page Brake Per Table TES EFhrizkec p F vier ia ile Seesen E ad The default in the Application From Thru fields is FA You cannot produce a Tables List for other applications from this function in Fixed Assets To produce a Tables List for another application refer to the appropriate user s guide or see the Resource Manager User s Guide 1 Enter the range of table IDs you want in the list A8 Fixed Assets User s Manual 9 7 Tables List Master File Lists 2 Enter Y or N to indicate whether or not you want blank lines to be printed in the report 3 Enter Y or N to indicate whether or not you want a page break after each table that is each table printed on its own page 4 Select the output device A sample Tables List is at the end of this section After the list is produced the Master File Lists menu appears 9 8 Fixed Assets User s Manual Master File
74. a function e perform special application setup From the Favorites menu e remove a function or menu e change to the Main menu e change from live to sample data and vice versa e display information about a function e perform special application setup Menu Keys 1 22 Most keyboards have a set of function keys usually labeled with the letter F and a number In OSAS commands are assigned to these function keys Key Fl Key Help F2 Favorites Menu F4 Access Code ES Live Sample swap Operation Displays the list of Icons and Functions keys available to you Displays the Favorites menu Displays the Access Code dialog box Switches between live and sample data Fixed Assets User s Manual Graphical Style Menus Key Operation F6 Displays the current workstation date and allows you to Workstation Date change it F7 Exits from OSAS Exit F9 Allows certain functions to be set up Works only in certain Application Setup applications This application does not use an application setup function F10 Allows you to add to and delete from your Favorites menu Change to Favorites Right click Shift F5 Change menu style Shift F2 Application Info Window Title Bar Menus works only with Start style menu Displays the a functions display box Switch between text and graphical menu styles without going into Defaults Displays information about the applications you have
75. a list of the line calculations for the Tax Form 4562 Summary section of the report Line Calculation 1 Maximum dollar limitation from function screen 2 Total base cost of 179 expensed property listed and other placed in service during the tax year 3 Threshold cost from function screen 4 Greater of line 3 minus line 2 or zero 5 Greater of line 4 minus line 1 or zero 6 If there are more than two 179 expensed nonlisted assets See 179 Expense Schedule is printed along with the total 179 expense amount if not the assets and their expenses are listed 7 Total 179 expense from Listed Assets Schedule 8 Sum of line 6 c and line 7 9 Lesser of line 5 or line 8 10 Prior year disallowed deductions from function screen 11 Lesser of Tax Year Taxable Income from the function screen or line 5 12 Lesser of the sum of lines 9 and 10 or line 11 13 Line 9 plus line 10 minus line 12 14 Totals of each property class from New MACRS Assets Schedule 15 Not used by Fixed Assets system leave blank 16 Total from Other Depreciation Schedule MACRS only 17 Not used by Fixed Assets system zero 18 Total from Other Depreciation Schedule SL SYD xxDB ACRS 19 Total depreciation deductions from Listed Assets Schedule 20 Sum of lines 12 14 column g 15 column g 16 17 18 and 19 21 Not used by Fixed Assets system zero 22 a Do you have evidence to support business investment use claimed from function screen
76. a positive or negative acquisition cost and saved the asset record you cannot change a positive cost to a negative cost or vice versa If you entered the cost in error you must delete the asset record and reenter it Fixed Assets User s Manual A 3 System Messages References No more years to depreciate The amount you enter in the Prior Years field cannot exceed the depreciable life of the asset Period depreciation is not computed You must use the Compute Period Depreciation function before you can use the Print Period Depreciation or Post Period Depreciation functions Unable to execute program program The system cannot run the program you selected from the menu Make sure that the program displayed is present in the application s program directory and select the function again Unable to load menu record menu from file file The menu record for the application is not in the menu file or the menu file is missing Make sure that the application is properly installed and try again YTD depreciation cannot exceed annual depreciation The amount in the YTD Depreciation field cannot exceed the amount in the Annual Depreciation field Either increase the annual depreciation or decrease the year to date depreciation A 4 Fixed Assets User s Manual Glossary Accelerated Cost Recovery System ACRS The method prescribed by the IRS for calculating depreciation of most assets placed in service after 1980 but before
77. able ID If it is not enter the ID of the table you want to copy from then enter the number of the column you want to copy Percent 2 3 Enter the percentage that is on the same line of this column in the IRS depreciation table When you press Enter the cursor moves to the next Percent field in that section of the column until you reach the fifteenth Percent field in that section Then if you entered Y in the Max Values field above the cursor then moves the first Maximum field below for that section of the column If you entered N in the Max Values field the cursor moves to the first Percent field in the next section of the column Maximum 5 2 If you entered N in the Max Values field you cannot access the Maximum column If you entered Y in the Max Values field you can enter the maximum values related to the percentages in the Percent column When you save your entries PgDn the cursor goes to the Column No field Enter another column use the Abandon F5 command to go to the Table ID field or exit to the File Maintenance menu Fixed Asset User s Manual Retire Assets When an asset reaches the end of its useful life or when you have taken all the depreciation you can use the Retire Assets function to retire and dispose of the asset This process changes the asset s status to retired enters a retirement date in the asset record and puts a stop to depreciation calculations involving the asset Once
78. able stores the list of user defined location names The names you define here appear on the General Information subscreen in the Fixed Assets function and in the Fixed Assets List The default entries are plant division and department You can rename the fields to something appropriate to you business If you leave a location description blank the unlabeled field continues to appear on screens where it is used Fixed Asset User s Manual 8 27 Tables File Maintenance When you enter the table ID the rest of the LOCATxxx table appears Erg MEE Gaig de Fii le TIT Tame Li Le aT Deste LED LC LOnS Teo Le Husker of Cola 2 Colom Lengeh 12 Tyne i LOC T TOW 4 B Leet LOCATION 2 Division EOLAT ION 1 Department Enter the names you want to use for location fields If you leave a location description blank the unlabeled field that is a field with no name continues to appear on screens where it is used TAXDTxxx Table The TAXDTxxx table stores the list of user definable tax district names The names you define here appear on the General Information subscreen in the Fixed Assets function and in the Fixed Assets List The default entries are state county and city You can rename the fields to something appropriate to your business If you leave a tax district description field blank the unlabeled field continues to appear on screens where it is used 8 28 Fixed Asset User s Manual File Maintenan
79. aced in service from the General Information subscreen are displayed at the bottom of the screen for your reference 8 18 Fixed Asset User s Manual File Maintenance Fixed Assets This is not a date field Depending on the period system you use you can have as few as 1 or as many as 52 accounting periods in a year You must type the period number press Enter and then type the year and press Enter again Field Depr End Period Curr Fiscal Year Salvage Value Description After you enter the beginning accounting period and year the system uses the number of periods in the asset s estimated life see Recovery Period above that you entered to calculate the last period and year of depreciation The current fiscal year as determined by the ACPRDxxx table is displayed Enter the estimated salvage value the asset will have at the end of its useful life If you are using a table driven depreciation method aMACRS table and you enter a salvage value a message informing you that the amount is not used in the depreciation calculation appears Field Other Bonus Depr 179 Expense Fixed Asset User s Manual Description The bonus depreciation is an extra amount the government lets you take with some qualifications consult your accountant during the first year of an asset s life If the asset is eligible for bonus depreciation enter the amount If you want to claim all or part of the cost
80. al depreciation columns Produce the report immediately after you complete year end processing to make sure that the numbers are accurate Fixed Asset User s Manual 7 45 Percent of Business Use Report Year End Percent of Business Use Report Screen Select Percent of Business Use Report from the Year End menu The function screen appears 20545 Tom Gains Ei Poe Elo r Peral of Eusiners Uza Fepoct Fick Arrat TD From LUTTO acu MELDED 001 GL Asset igor Tr om Thru PEL Busipess Use Feor Thru Frinr 1 Acciva 2 Bel iced 1 Heu 4 Suspended Sa Ali CPhciztec p P evinr E dle Seesen Ejua 1 Enter the range of asset IDs you want in the report A14 2 Enter the range of general ledger asset account numbers you want in the report A12 The Inquiry F2 command is available if Fixed Assets is interfaced with General Ledger 3 Enter the range of percentages of business use you want in the report N3 4 Select the type s of assets you want in the report 5 Select the output device A sample Percent of Business Use Report is at the end of this section After the schedule is produced the Year End menu appears 7 46 Fixed Asset User s Manual Percent of Business Use Report Year End Percent of Business Use Report 07 21 1999 10 02 AM Asset ID Description GL ASSET ACCOUNT 154000 AUTO Automobile Grey LMC AUTO 92 2 Auto Stereo System AUTO 95 Automobile Tan IMC TOTAL FOR G
81. aluation and Credits subscreen to record information about credits taken against the asset 1 Enter a brief description of the credits against the value of the asset A30 2 Enter the total number of credits you are eligible for This number is used to calculate the base depreciable value on the Depreciation subscreen Consult your accountant for help in calculating the total credit you can claim for the asset 1 Enter the accumulated nondepreciable costs or expenses related to the asset Fixed Asset User s Manual 8 15 Fixed Assets File Maintenance 2 Enter the amount of the sales or use taxes related to the asset 3 Enter the numbers of the general ledger asset accumulated depreciation and depreciation expense accounts related to the asset The Inquiry command is available if Fixed Assets is interfaced with General Ledger If Fixed Assets is interfaced with General Ledger the system verifies that the account numbers are valid and fills in the account descriptions from the GLMAxxx file When you save the Valuations and Credits subscreen PgDn the next subscreen you selected appears If you did not select another subscreen to maintain the Fixed Assets master screen appears Depreciation Subscreen 8 16 Use the Depreciation subscreen to record the information the asset depreciation calculations are based on and the results of the calculations DEAS ID fsfzecistion ASSET D AUTO s
82. anual Period Work Post Period Depreciation If you have not printed and verified period depreciation and backed up your data files enter N When you have done these things enter Y Select the output device A sample posting log is on the next page After the log is printed the Period Work menu appears Fixed Assets User s Manual 4 13 Post Period Depreciation Period Work Post Period Depreciation Log 07 21 1999 8 18 AM Builders Supply Post Period Depreciation Amount Posted to GL Period 7 Credit ACCUM DEPR ACCUM DEPR ACCUM DEPR DEPR EXP ACCUM DEPR BALANCE 152500 153500 154500 521000 181000 72 11 1450 73 1450 73 Fixed Assets User s Manual Period Work Post Period Depreciation Post Period Depreciation Log 07 21 1999 Builders Supply 8 18 AM Post Period Depreciation Processed Current Fiscal Year Number of Periods in Fiscal Year Number of Periods Processed This Year Beginning Period to Process Now Ending Period to Process Now Post Depreciation to GL Period Number of Assets in File Number of Assets Processed Depreciation Posted for Book Depreciation Posted for FedTax Depreciation Posted for Other Depreciation Posted for A M T End of Report Fixed Assets User s Manual 1450 73 1450 67 1394 49 1370 23 4 15 Forecasting Lease vs Buy Analysis 5 3 Loan Amortization 5 13 Trial Depreciation 5 19 Fixed Asset User s Manual 5 1
83. any uses a half year convention that takes no depreciation in the year of disposal If the company disposes of an asset after four months the Fixed Assets system will have posted four months worth of depreciation expense to the general ledger This amount must be recaptured since the convention stipulated that no depreciation was to be taken in the year of disposal B 8 Fixed Assets User s Manual References Glossary recapture of investment tax credit The reversal of a previously taken investment tax credit If you retire an asset for which you have taken an investment tax credit before the end of its useful life you must recapture the surplus credit The surplus is calculated from the original investment credit taken multiplied by the appropriate percentage rate for the class of the property and the year of its useful life in which you disposed of it The percentages are listed under the recapture rule in IRS publications on investment credit record A unit of information that has other pieces of information assigned to it Each record is assigned an ID so that the file can sort information in terms of record IDs recovery Depreciation according to IRS endorsed rules rehabilitation credit A tax credit effective 1981 1986 granted for rehabilitating buildings or certified historic structures The tax credit percentage was based on various factors such as the age of the property remaining life The time between the present da
84. applications are designed and produced with the largest possible number of industries in mind They are most effective when you interface them with each other Base applications are usually named after common accounting operations Examples are Payroll Inventory Accounts Payable Purchase Order Accounts Receivable Sales Order General Ledger and so forth Fixed Assets User s Manual 1 3 General Information Introduction 1 4 Tools of the Trade Tools of the Trade are applications designed for particular industries or to run specialized operations For example Fully Automated Service Tracking F A S T was produced with the automotive industry in mind and requires the presence of Accounts Receivable Field Service was produced with the outbound service industry in mind for example the copier business and works with the Inventory application Bill of Materials Kitting was produced with several industries in mind but works best when you need to sell several units as one or build one unit from several it requires the presence of Inventory Fixed Assets User s Manual The Fixed Assets System Use the Fixed Assets system to calculate and track depreciation of your company s fixed assets anything with a useful life of more than one year that is used to produce income and is not intended for sale Standard methods of tracking depreciation such as straight line sum of the years digits declining balance ACRS and MACRS
85. arrow keys After you enter the current depreciation for one column the cursor moves to the Base Cost field in the next column If you are adding an asset record and have not used the Copy From function the entries in the column you just left are copied to the next column If you are changing an asset record your changes are not copied The asset ID with suffix ID and sequence number if any you entered on the Fixed Assets master screen and the description you entered on the General Information subscreen are displayed Field Description Base Cost Press Enter to use the adjusted cost you entered on the General Information subscreen or enter a different base cost of the asset to use in the depreciation calculations The acquisition cost and adjusted cost appear at the bottom of the screen for your reference Depr Meth Table A6 Enter the code for the method of calculating depreciation you want to use or enter the ID of the table containing the table driven depreciation method you want to use For more information about depreciation table names refer to the Depreciation Tables function page 3 31 These are the valid codes for calculated depreciation None calculate no depreciation for this column SL straight line SLACRS straight line ACRS Fixed Asset User s Manual 8 17 Fixed Assets File Maintenance Field Description SYD sum of the years digits xxxDB declining balance xxx is a percentage between 000
86. ars 9 12 Fixed Assets User s Manual Depreciation Tables List Master File Lists Depreciation Tables List 07 21 1999 10 45 AM Column Type 0 Recovery Period Recovery Year Percent Maximum 1 15 000 25 000 20 000 20 000 20 000 End of Report 00 00 00 00 00 Builders Supply Page Depreciation Tables List Depreciation Table 03YSH Description 3 Year safe harbor leases Max Values N 9 13 Fixed Assets User s Manual Retired Assets List The Retired Assets List shows the acquisition depreciation and disposal information for assets with retired status The Retired Assets List is different from the Retirements Journal Use the Retired Assets List to review detailed information about the retirement use the Retirements Journal to analyze how effectively you depreciated the retired asset Retired Assets List Screen Select Retired Assets List from the Master File Lists menu The function screen appears SAS 1004 Gaia D fmi bisp Betired kruta List Fick Amat TD From LUTO oa THEW WERDER 001 03 Ferirewert Code Prom Thru TL Asset feet FE Gm Taru Ferticemucnt Date From Thru Fzihe by i iam TO Cuipot device Ficinte p R aries Mi ite Ei nd 1 Enter the range of asset IDs you want in the list A14 2 Enter the range of retirement codes you want in the list A1 Fixed Assets User s Manual 9 15 Retired Assets List Master File Lists 9 16 3 Ent
87. asset does not remove it from the general ledger asset accounts After you retire and dispose of an asset you must make a manual GL Journal entry to remove the asset from your books Fixed Assets User s Manual Conventions Your manual will help you to install OSAS on any standard machine within many popular operating systems and help you with your accounting software questions In the manual we use the term Conventions or standards to help describe complicated processes new terms and to help you use your OSAS applications Manual Conventions This User s Manual is divided into these sections made up of several chapters e The Introduction provides an overview of this application and the OSAS system including installation procedures graphical and text based application features and function key references e Installation explains the steps necessary to begin using this application in your company including how to install the application on your system e The last part of your manual is made of several chapters each chapter describing a function group within this application Mouse Conventions The standard mouse has two buttons left and right each performing certain functions In this manual we use these terms for using the mouse click right click double click and deselect The click is a single press on the left mouse button Place the cursor over the desired function and press the le
88. ave taken at the end of the last fiscal year For a new undepreciated asset press Enter to skip this field If you took depreciation on the asset in previous years enter the total actual depreciation you took at the end of the last fiscal year This number should reflect your percentage of business use If you took depreciation in previous years enter the number of years the asset has been depreciated It cannot exceed the estimated life of the asset Enter P to print the Trial Depreciation Schedule by period or enter Y to print the yearly figures only 5 23 Trial Depreciation Forecasting Field Description Print Year From Thru The system fills these fields based on what you entered in the Depreciation Begin Period and Depreciation End Period fields To produce the Trial Depreciation for one year enter the year at both From and Thru To list a range of years enter the first year at From and the last year at Thru To produce the Trial Depreciation Schedule for the life of the asset press Enter at both From and Thru Select the output device A sample Trial Depreciation Schedule is at the end of this section After the schedule is generated the Trial Depreciation screen appears and the Trial Number field is incremented by 1 Because your entries are preserved you can change a few numbers and produce another Trial Depreciation Schedule When you are finished exit to the Forecasting menu 5 24 Fixed Asset User
89. ax A M T and Other e depreciation beginning period and year e depreciation ending period and year e estimated and actual asset life Finally the system uses the retired base cost and retired asset dollar value to calculate a retirement percentage and uses the retirement percentage to calculate the following values for each column e salvage amount retired e other bonus depreciation retired 179 expense amount retired e applied credits retired e base cost retired e year to date depreciation retired e accumulated eligible depreciation retired e total depreciation retired accumulated depreciation taken year to date depreciation current depreciation Fixed Assets User s Manual 1 9 The Fixed Assets System Introduction Application Interaction Fixed Assets can be used as a standalone application but you can get optimal use from it when you interface it with General Ledger through the Options and Interfaces function If Fixed Assets is interfaced with General Ledger the account numbers you enter in the assets records must be set up in the GLMAxxx General Ledger Master file You can then use the Inquiry F2 command to look up and select general ledger accounts After you define the accounts in the assets records posting period depreciation debits the depreciation expense account and credits the accumulated depreciation account for the sum of the current depreciation amounts in the Book column Retiring an
90. ber From Tag Number Thru 1 GE kemat Accom OL kaser APSE Fron 4 Tak class Thru E koquisision hace Tax Claus From 6 Location Tht 1 hoquiedtion Pace From Thru Plant From Thre Hivision From Thru De DA Cie AL From Thru EFhrizkec p P evinr W ile Sfecsen E ad 1 Enter the range of asset IDs you want in the journal A14 2 Enter the range of tag numbers you want in the journal A20 3 Enter the range of general ledger asset account numbers you want in the journal A12 The Inquiry F2 command is available if Fixed Assets is interfaced with General Ledger Fixed Assets User s Manual 6 3 Additions Journal Reports 6 4 4 Enter the range of tax classes you want in the journal A4 5 Enter the range of acquisition dates you want in the journal 6 Enter the range of user defined locations you want in the journal A15 The names of these three fields are determined by the LOCATxxx table The default descriptions are Plant Division and Department 7 Select the item by which you want to organize and subtotal the journal 8 Select the output device A sample Additions Journal is at the end of this section After the journal is produced the Reports menu appears Fixed Assets User s Manual Additions Journal Reports 07 21 1999 8 24 AM Description CRANE 0001 Cranes Derricks TOTAL FOR ASSET ID ASSET ID DRILL DRILL 0001 Drill Press TOTAL FOR ASSET ID ASSET ID FORKLIFT FORKLIFT
91. ca Files RS Pene B ses Retired Before 1273172999 Frocann Bit TES Feitak TES mier Tra A 2 T TE Cuipot device Ifieintez ph arica Mile ting Field Description Have you If you have not completed period processing and printed the necessary reports enter N When you have done these things enter Y Remove Assets If you want to remove retired assets records Retired Before enter a date Assets records containing a retirement date earlier than the date you enter will be deleted Process You can select any combination of books to process Enter Y in the fields corresponding to the book s you want to process If you do not want to process a book enter N in its corresponding field A sample Year End Maintenance Log is at the end of this section 7 42 Fixed Asset User s Manual Year End Year End Maintenance After the log is printed the Year End menu appears After Year End After you complete year end maintenance produce the Percent of Business Use Report page 7 45 The numbers in the Percent of Business Use Report are accurate immediately after the Accum Eligible Depr and Accum Depr Taken fields have been updated by the Year End Maintenance function they lose accuracy as period depreciation is computed and posted Fixed Asset User s Manual 7 43 Year End Year End Maintenance 07 21 1999 9 58 AM Automobile Grey LMC AUTO 92 2 Auto Stereo System 95 Automobile Tan LMC BUILDING Corp
92. cations are some of the utilities on the Other Commands menu See the Resource Manager User s Manual for information about the utilities on the Other Commands menu FS Move the cursor back to the first field on the screen or to the Abandon first field after the key field The entries and changes you made are erased Fixed Assets User s Manual 1 33 Function Commands Introduction 1 34 Key F6 Maintenance F7 Exit F8 List Shift F2 Information PgUp Start over PgDn Proceed Tab Jump Enter or Down Arrow Enter Up Arrow Ctrl V Verification on off Ctrl G Bell on off Ctrl F Quick on off Operation Go directly to the appropriate File Maintenance function to update information about the field you are in if the Maint flag appears at the bottom of the screen Exit from a screen or a window and disregard everything you entered Send the contents of the screen to a printer or a text file Open an Information menu Each selection on the menu is an information window that you can access if the Info flag appears at the bottom of the screen Each window contains a category of information about the field you are in Move the cursor back to the first field on the screen or to the first field after the key field without erasing the entries or changes you made Approve the data on the screen change the file accordingly and proceed to the next spot field or screen
93. ce Tables When you enter the table ID the rest of the TAXDTxxx table appears A DA PTA gt FATE Tanis LO Peat DEE LPC HE FLSLTIGTS Cable H mskar of Cola 3 Colom Lengeh r Type i Location Dic pedo TAX DIST 4 Icate TAX DIST Z County TAL BIST 1 LEY r Verification Praag Poo te poeocesd Enter the names you want to use for tax district fields If you leave a tax district description blank the unlabeled field that is a field with no name continues to appear on screens where it is used Report Writer Tables The FATYPE table is associated with the Report Writer application It stores information relating to the type of your assets for example new used owned leased and so on If you change the FATYPE table your Report Writer reports will not be accurate For more information about Report Writer and table cross references see the Report Writer User s Guide Fixed Asset User s Manual 8 29 Tables File Maintenance The RWCNVT table is used exclusively during file conversion when you upgrade from version 3 2 to version 4 0 or higher If you are installing a new system and not upgrading from version 3 2 or if you have already completed upgrade file conversion this table is not used Printing Tables After you have set up or changed a table use the List F8 command to produce a copy of it 8 30 Fixed Asset User s Manual Depreciation Tables The Fixed Assets system makes e
94. ced in service you cannot delete the date the asset was placed in service and restore the asset s new status Column has been processed for all periods You cannot compute period depreciation for a column that has been processed for all periods in the current fiscal year nor can you use the Process All Columns option if one column has been processed for all periods If the column has been processed incorrectly check the ACPRDxxx table and change it if necessary If the column has been processed correctly and you want to process the remaining columns you must process each column individually Could not find any valid source files for this application The source directory you specified does not contain files for the application you are converting Make sure that you entered the correct source directory and application ID Current YTD depreciation cannot exceed annual depreciation The sum of the amounts in the Current Depreciation and YTD Depreciation fields cannot exceed the amount in the Annual Depreciation field Either increase the annual depreciation or decrease the current and or year to date depreciation File unavailable xxxxx This message appears for one of three reasons 1 The function you are trying to access needs one or more files that are locked by another user on your system When a file is locked other users cannot access it during posts and other functions that need to keep the files intact A 2 Fixed Assets
95. ciation 12568 18 12268 70 12568 18 27773 44 12568 18 12268 70 12568 18 27773 44 Year to Date Depreciation 5386 37 5385 83 5386 37 10607 91 5386 37 5385 83 5386 37 10607 91 Annual Depreciation 7181 82 7181 10 7181 82 14143 88 7181 82 7181 10 7181 82 14143 88 Current Depreciation 598 49 598 43 598 49 1178 66 1178 66 361777 67 361777 67 361777 67 325107 54 48938 77 48227 83 47021 71 48086 79 18594 75 24072 98 27392 08 35348 66 22946 87 28764 20 31773 42 39852 18 1450 73 1450 67 1394 49 1370 23 4 9 Fixed Assets User s Manual Post Period Depreciation After you have computed and verified periodic depreciation use the Post Period Depreciation function to add the current depreciation to the year to date depreciation and reset the current depreciation to zero If Fixed Assets is interfaced with General Ledger this function also updates the general ledger asset accounts with the sum of the amounts in the Current Depreciation field in the asset record and updates the GLJRxxx Journal file The Book column is the only column that affects General Ledger Posting to General Ledger The following T accounts show what happens to the general ledger when you post depreciation Accumulated Depreciation Depr Acct Expense Acct de a You specify these two account numbers on the Valuation and Credits subscreen of each asset record The other ac
96. count number in each asset record GL asset account is not affected by this function The GL asset account is used for report selection and organization only Fixed Assets User s Manual 4 11 Post Period Depreciation Period Work When you post period depreciation both the post date and original transaction date are posted to the GLJRxxx file providing a detailed audit trail for journal entries Before You Post Before you post current depreciation make sure that you have done these things e computed the period depreciation e printed the Period Depreciation Journal e checked the amounts to be posted e backed up your data files If you have a multiuser system make sure that no on else is using the Fixed Assets system You cannot post if someone else is using Fixed Assets functions Post Period Depreciation Screen Select Post Period Depreciation from the Period Work menu The function screen appears A DENE Ser Cat fmi bjp Post Period bepeecietion Have pou Preioted ari verikiel period depreciatica Hace a heckeg of pour data files TIS Process Base FedTas thee L H T Cezcent Fiscal Taar lrg 1538 15335 Lape rember SL Peiieds in Fiscal Tear 12 12 LE 13 Heber of Perioda Procesacd This Year 5 a a Eeyinnit Pecicd Lo Process Now 10 io Lo Lo Ending Feciod to Proesa Boe ij 10 10 i Fest Depreciation to GL Per icd T Quipot device F cintas ppl arios hice tind 4 12 Fixed Assets User s M
97. cro Computer for Accounting 10 Acres Corporate Site Cranes Derricks Drill Press Forklifts Lathes Planers Sanders Power Saws Welding Machines Cubes Builders Supply Depreciation Tax Report Other Depreciation Schedule Mo Yr Basis for Recov Depreciation Per 10552 26 1276 44 1248 96 794 99 1142 04 379 93 4782 17 121 06 197500 00 8810 12 5684 78 7925 47 3323 67 11021 00 2421 00 6329 84 45000 00 421302 59 22016 54 160000 00 151421 66 98537 80 216131 20 318265 13 7639 54 Depr Depreciation lethod Deduction 276 56 223 04 115 87 166 46 55 38 765 16 17 64 5984 26 1409 62 545 74 760 84 302 73 00 423 68 00 00 6790 89 366 18 2525 99 2518 45 1544 29 3540 64 5293 39 36968 37 7 37 Fixed Asset User s Manual Year End e 07 21 1999 gt 9 51 aM Builders Supply Depreciation Tax Report Tax Form 4562 Summary complete Part V before you complete Part I Maximum dollar limitation if an enterprise zone business see instructions Total cost of section 179 property placed in service during the tax year see instructions Threshhold cost of section 179 property before reduction in limitation Reduction in limitation Subtract line 3 from line 2 but do not enter less than 0 Dollar Limitation for tax year Subtract line 4 from line 1 but do not enter less than 0 married filing separately see instructions nn ee ee ee a Description o
98. e appears If you are using the Resource Manager for UNIX or DOS the Text menu appears If you are using the Resource Manager for Windows you can choose between the Text Menu Graphical Menu or Start Menu In Windows use the Workstation Configuration Defaults function in Resource Manager to select the style of menu you want displayed The following pages describe how you use each of these types of menus Fixed Assets User s Manual 1 13 Conventions Introduction Favorites Menu The Favorites menu operates in the text based format as well as in the graphical formats The Favorites menu allows quick and easy access to the OSAS functions you use most allowing you to add selections for entire menus or particular functions With the Favorites menu you save time in no longer switching to and from commonly accessed applications For example if you have application entries in Transactions Accounts Payable Transfer Journals Inventory and Edit Transactions General Ledger rather than enabling each application menu by menu you could set up a Favorites Menu where with one press of the enter key or a click on the button your application would be open for work Favorites Menu Graphical Style For Favorites Menu set up information see page 1 29 1 14 Fixed Assets User s Manual Text Menu The Text menu can be used on all OSAS compatible systems Using text based menus the Text menu shown below offers easy access t
99. e Main menu you can return to the Main menu by clicking items on previous menus Fixed Assets User s Manual 1 19 Graphical Style Menus Introduction 1 20 Graphical Main Menu Pa Jet Freien Dom Finke Bs neyo mine a rl E Live Dita SYSTEMS ING You can exit from a Graphical menu in these ways e select a button from a previous menu e press the Tab key to go to the Main menu e click the Close box in the upper right hand corner of the window to close OSAS use the Exit F7 command to close OSAS e select Exit from the File Menu to close OSAS Fixed Assets User s Manual Introduction Graphical Style Menus Start Main Menu D Jet From ie ai Bedia a Ml You can exit from a menu in these ways e press the left arrow key to go to the previous menu one menu up e hold the mouse over a different menu item e press the Tab key to go to the Main menu e click the Close box in the upper right hand corner to close OSAS use the Exit F7 command to close OSAS e select Exit from the File Menu to close OSAS Fixed Assets User s Manual 1 21 Graphical Style Menus Introduction Special Commands in Graphical menus Right click to display the Special Commands menu which allows you to perform these special tasks From the standard menus e add a function or menu to the Favorites menu e change to the Favorites menu e change from live to sample data and vice versa e display information about
100. e a column with itself 1 Select the item by which you want to organize and subtotal the report 2 Select the output device A sample Depreciation Comparison Report is at the end of this section After the report is produced the Year End menu appears 7 4 Fixed Asset User s Manual Depreciation Comparison Report Year End Depreication Summary Report 07 21 1999 9 09 AM Asset ID Description ASSET ID COMPUTER COMPUTER 94 1 Color Monitor COMPUTER 94 2 Computer Equipment 1994 TOTAL FOR ASSET ID COMPUTER GRAND TOTAL End of Report Builders Supply Depreciation Comparison Report by Asset ID Compare Book Against FedTax Date Placed Depr Accumulated Bus Use Method Base Cost Depreciation 05 17 1994 100 12 01 1994 100 YTD BOOK FEDTAX Depreciation YTD Difference BOOK FEDTAX 7 5 Fixed Asset User s Manual Gains and Losses Report The Gains and Losses Report shows acquisition in service and retirement dates base cost depreciation and reduction amounts retired net sale proceeds and gain or loss from the disposal of retired assets Use the report to analyze the profits or losses from the disposal of retired assets and to determine whether you need to make an adjusting entry in the general ledger Retired assets records can be purged during year end maintenance Print the Gains and Losses Report before using the Year End Maintenance function Gains and Lo
101. e activated an asset you cannot leave this field blank nor can you restore the asset s new status If you are using a depreciation method or an ACRS table that lets you use a half year convention do not enter the actual date the asset was placed in service Instead enter January if the asset was placed in service in the first half of the year or July 1 if it was placed in service in the second half of the year Likewise if you want to use a quarter year convention enter either January 1 April 1 July 1 or October 1 Field Date of Last Adjustment Retirement Date Fixed Asset User s Manual Description Half year quarter year and other conventions are built into the MACRS tables If you are using a MACRS table enter the actual date the asset was placed in service If you are entering an asset record enter the date the asset was acquired If you are adjusting the value of an asset enter the date you entered the adjustment If the asset status is new active or suspended you cannot access this field 8 11 Fixed Assets File Maintenance Field Description If you have changed the status to rerired the date you retired the asset is displayed Press Enter to accept it or enter a different retirement date Acquisition Cost Enter the original cost of the asset plus the depreciable expenditures related to purchasing and installing the asset including legal fees and transportation costs This cost
102. e life of the loan This field appears only if you are working with a balloon payment loan Enter the balloon payment The balloon payment cannot exceed the amount you entered in the Loan Principal field This field appears only if you are working with a fixed principal loan Fixed Asset User s Manual Forecasting Loan Amortization Field Description If you entered an amount in the Loan Principal field press Enter The system calculates the principal for each period If you did not enter an amount in the Loan Principal field enter the principal to be paid in each payment The system calculates the total principal and enters it in the Loan Principal field Payment Amount This field does not appear if you are working with a fixed principal loan See First Payment Amount below If you are working with a straight line or rule of 78s loan and you entered an amount in the Loan Principal field press Enter The system calculates the payment If you are working with a straight line or rule of 78s loan and you left the Loan Principal field blank enter the periodic payment The system calculates the total principal and enters it in the Loan Principal field Note l If you enter figures in both the Loan Principal and Payment Amount fields the calculated principal based on the payment times the number of payments overwrites the loan principal you entered Field Description If you are working with a balloon payme
103. e report See Notes on Line Calculations for Tax Form 4562 Summary below If you have evidence to support the percentage of business use you are claiming on Form 4562 for automobiles and other listed property enter Y if not enter N The response you enter here will appear on line 22a of the Tax Form 4562 Summary section of the report If you entered Y in the previous field enter Y or N to indicate whether or not your evidence is written The response you enter here will appear on line 22b of the Tax Form 4562 Summary section of the report Select the output device for the report A sample Depreciation Tax Report is at the end of this section After the report is produced the Year End menu appears Notes on Line Calculations for Tax Form 4562 Summary The Tax Form 4562 Summary section of the Depreciation Tax Report contains numerous line calculations some of which are determined by your entries on the function screen some of which are generated by the Fixed Assets system Some lines on the Tax Form 4562 Summary are not calculated by the Fixed Assets system and are left blank Enter the numbers manually if necessary Fixed Asset User s Manual 7 31 Depreciation Tax Report Year End 7 32 All the line numbers on the Tax Form 4562 Summary correspond to the line numbers on IRS Form 4562 For more information on any particular line calculation refer to the IRS document Instructions for Form 4562 Here is
104. e sample tables for a company and then change the appropriate fields To copy a sample table enter the table ID Press Enter to accept the displayed description of the table or enter a different description A40 Fixed Asset User s Manual File Maintenance Tables 5 The number of columns in the table is displayed in the Number of Cols field 1 77 6 The length of the columns in the table is displayed in the Column Length field 1 77 7 The type of characters you can enter in the table is displayed alphanumeric A or numeric N Although you can change the type you cannot enter any other type of character than the table originally specified ACPRDxxx Table The ACPRDxxx table stores the fiscal year and accounting period definitions for the book federal tax other tax and alternative minimum tax A M T values The ACPRDxxx table is the only Fixed Assets table you must set up for each company in the system If you are setting up the ACPRDxxx table at the beginning of the fiscal year or if you plan to set initial balances by computing and posting period depreciation page 3 3 enter 0 in the This Year Begin Period Endng Period GL Period and Process fields If you are setting up the ACPRDxxx table at any other time in the fiscal year you must determine what values to enter in these fields See page 4 3 for more information about how the values are calculated Fixed Asset User s Manual 8 25 Tables
105. e system also uses this number to determine which column of the table to use If you are using sum of the years digits or declining balance depreciation you can choose an alternative depreciation method for the end of the fiscal year if it is to your advantage If you do not want to switch methods automatically enter NONE 5 21 Trial Depreciation Forecasting 5 22 Field Estimated Life in Periods N5 Depreciation Begin Period pd yyyy Description If you want to switch methods what you can enter depends on the primary method you chose If you selected sum of the years digits SYD for the primary depreciation method you can enter SL straight line If you selected the declining balance xxxDB method you can enter SYD or SL If you are using a depreciation method other than sum of the years digits or declining balance you cannot enter anything MACRS tables have a built in method to switch to Enter the number of accounting periods in the estimated life of the asset The estimated life based on Recovery Period appears at the bottom of the screen Enter the accounting period and year you want to begin depreciating the asset This is not a date field Depending on the period system you use you can have as few as 1 or as many as 52 accounting periods in a year You must type the period number press Enter and then type the year and press Enter again Field Depreciation End Peri
106. eciation already computed Do you want to recompute To leave the existing numbers intact enter N To recompute the period depreciation enter Y Field Description Process You can select any combination of books to depreciate Enter Y in the fields corresponding to the book s you want to depreciate If you do not want to depreciate a book enter N in its corresponding field Fixed Assets User s Manual Period Work Compute Period Depreciation Book values are the only depreciation values that affect the general ledger Therefore to keep the general ledger up to date many companies calculate and post book depreciation every period but wait until the end of the year to calculate tax depreciation Field Current Fiscal Year Number of Periods in Fiscal Year Processed This Year Beginning Period to Process Now Ending Period to Process Now Post Depreciation to GL Period Description After you select a column to process the system fills in these fields This information is stored in the ACPRDxxx table The next period in sequence after the period displayed in the Number of Periods Processed This Year field is displayed For example if you have processed 6 periods this year 7 is displayed Press Enter to use the displayed period or enter the number of the last period you want to include in the depreciation calculation This field is accessible only if you are processing the Book Only column or
107. ecords provided by the Fixed Assets system A M T records are normally kept to provide an alternative way of calculating depreciation for federal tax purposes See also Book depreciation FedTax depreciation and Other depreciation amortization The systematic allocation of the cost of an asset over the accounting periods a company benefits from the asset Amortization is used specifically in discussions of the attrition of intangible assets but depreciation of plant assets and depletion of wasting assets are also forms of amortization application A software package made up of several related programs functions and files Usually an application is named after a common accounting practice for example Accounts Receivable Inventory or Payroll asset An item of value either owned or leased that is expected to benefit future operations See also fixed asset Asset Depreciation Range System ADR One of the methods prescribed by the IRS for calculating depreciation of assets placed in service before 1981 The ADR system was based on broad industry classes of assets and prescribed the range of useful asset lives available to taxpayers ADR was a yearly election for the assets acquired in the year once it was elected the taxpayer was bound by ADR accounting and reporting rules for those assets asset ID A user assigned code that identifies an asset or group of assets asset tag number An identification number placed on an asset
108. epreciation Expensed Amount Bonus Depreciation Net Expenses Tax Savings on Expenses Tax Credits Total Tax Savings Net Present Value at 00 amp L Effect Book Depreciation Tax Savings Total P amp L Effect Cash Outflows Cash Price Expenses 45000 0 Tax Savings Net Cash Outflows 45000 0 Net Present Value at 00 45000 0 Notes 1 Net Present Value is computed assuming period end cash flows and time zero at the beginning of the first year displayed 2 Salvage residual value assumed to be zero End of Report Builders Supply Lease vs Buy Analysis Trial 1 In Buy Analysis 45000 0 45000 0 Fixed Asset User s Manual 5 12 Loan Amortization Use the Loan Amortization function to calculate payments based on loan principal type and interest rate to calculate balloon payments and to determine the down payment needed to get the monthly payment you want This comparison can help you determine which approach to borrowing money best fits your needs budget and cash flow Loan Amortization Screen Select Loan Amortization from the Forecasting menu The function screen appears are Gaig Ci Pers bjp r Lown kmorticstion Loan Deeeripeson Computers Loan Typa teeight Lina Tirst Farmert Gane 07 00 1598 Payments Fer Teer iz Loan Principal 6005 00 snnusl Fercercage Feta 3 2200 Tatal Piuber Of Payments aa Payant lonount 76 30 Total letscem 2140 7
109. er the range of general ledger asset account numbers you want in the list A12 The Inquiry F2 command is available if Fixed Assets is interfaced with General Ledger 4 Enter the range of retirement dates you want in the list 5 Select the item by which you want to organize the list 6 Select the output device A sample Retired Assets List is at the end of this section After the list is produced the Master File Lists menu appears Fixed Assets User s Manual Master File Lists Retired Assets List Retired Assets List 07 21 1999 Builders Supply 10 47 AM Retired Assets List by Asset ID Asset ID COMPUTER 91 01 Description Computer Equipment 1991 Retirement Reason Outdated equipment GL Asset Account 153000 Retirement Amount 11021 00 Retirement Code Retirement Proceeds 00 Retirement Date 07 21 1999 Retirement Expenses 00 Retirement Quantity Retirement Credits Base Cost Retired 11021 00 11021 00 11021 00 11021 00 Depr Method Table ID SL SL SL SL Estimated Life in Periods 36 36 36 36 Actual Life 60 60 60 60 Depreciation Begin Period 01 1991 01 1991 01 1991 01 1991 Depreciation End Period 12 1993 12 1993 12 1993 12 1993 Salvage Retired 00 00 00 00 Bonus Retired 00 00 00 00 179 Expense Retired 5000 00 5000 00 5000 00 5000 00 Applied Credits Retired 00 00 00 00 Accum Elig Depr Ret 6021 00 6021 00 6021 00 6021 00 Accum Depr Retired 6021 00 6021 00 6021 00 6021 00 YTD Depr Retired 00 00 00 0
110. eriod co Propess Wou 30 i0 10 pi Erding Faciod to Process How 10 Lo LO Lo Foar bepreciarion po G Period 7 Output device EFhrizkec pp RI vier W ile Sfecsen E ad Fixed Assets User s Manual 4 7 Print Period Depreciation Period Work If you have not yet computed period depreciation this message appears at the bottom of the screen Period depreciation is not computed If you have computed period depreciation your book selections from the Compute Period Depreciation screen are displayed The values in the Current Fiscal Year Number of Periods in Fiscal Year Number of Periods Processed This Year Beginning Period to Process Now Ending Period to Process Now and Post Depreciation to GL Period fields are displayed from the ACPRDxxx table These values were set when you used the Compute Period Depreciation function ch sec You cannot change them on this screen A sample of the journal is at the end of this section After the journal is produced the Period Work menu appears Notes on the Journal 4 8 How the journal is organized The Period Depreciation Journal is organized by general ledger asset account number You enter this account number on the Valuation and Credits subscreen in the fixed asset record Within each account number the journal is organized by asset ID How current depreciation is calculated The amount in the Current Depreciation field is the annual depreciation divided by the number of
111. et User s Manual Property Assessment Schedule The Property Assessment Schedule shows the assessment date assessed value percentage of business use property type and status for specified asset IDs The schedule is organized by tax district Use it to review the local tax assessment and valuation and as a resource when filling out local tax returns Property Assessment Schedule Screen Select Property Assessment Schedule from the Year End menu The function screen appears USAS 1009 j Poopecty raras Schadule Prize bp Pr lL Sram Ll Fazzonsl Only da SALA ca Pal Onl 4 City 3 Fereonal and Peal L 1 Pick dieser Ib From AUTO Tisu MELITA conl LLS 1i Fron Frank Thru i give GL Ausser hoc From Z Fariced THe 3 Bea Por Peeinese Ose From 4 Fate Thru 5 LLL is gt sicareol Pete Foca 5 crema E od 1 Select the tax district by which you want to organize the assessment schedule The names of these three fields are determined by the TAXDTxxx table The default descriptions are State County and City Fixed Asset User s Manual 7 23 Property Assessment Schedule Year End 7 24 9 Enter the range of asset IDs you want in the schedule A14 Enter the range of tax districts you want in the schedule A15 The tax district description you selected is displayed see step 1 above Enter the range of general ledger asset account numbers you want in the schedule A12 The Inqui
112. ext style Favorites menu follow these steps 1 Move your cursor to the submenu or application that you want placed in the Favorites menu 2 Press F10 You can press F2 to verify your selection was added to your Favorites menu To remove an application 1 Press F2 to display the Favorites menu 2 Move your cursor to the submenu or application you want removed 3 Press F10 Fixed Assets User s Manual 1 29 Favorites Menu Introduction Favorites Menu Start Style u HL Tensei ae To set up the graphical style display you can find an example of the graphical style Favorites menu on page 1 14 follow these steps 1 Position the cursor over the submenu or function you want placed into your Favorites menu 2 Right click on the function or submenu The Favorites menu set up box shown below appears 3 Click on Add to Favorites 1 30 Fixed Assets User s Manual Introduction Favorites Menu Screen Use Screen Add to Remove Favorites Change to Favorites Main Sample data Live data Setup Function Information Fixed Assets User s Manual Description Use the Add to Remove Favorites menu button to add the desired submenu or function to or from your Favorites menu Toggles your display menu between your Favorites menu and your Main menu Switches between your sample data and your live data Clicking on this button or pressing F9 sets up the selected application Setup works onl
113. f property Computer Equipment 1999 10552 26 Elected Costs Listed Property Enter the amount from line 26 71 Total elected cost of section 179 property Add amounts in column c lines 6 and 7 Tentative deduction Enter the smaller of line 5 and line 8 2 22 10 Carryover of disallowed deduction prior year see instructions si 11 Taxable income limitation Enter the smaller of taxable income or line 5 see instructions 12 Section 179 expense deduction Add lines 9 and 10 but do not enter more than line 11 13 Carryover of disallowed deduction to next year Add lines 9 and 10 less line 12 13 NOTE Do not use Part II or Part III below for listed property automobiles certain other vehic Part II MACRS Depreciation For Assets Placed in Service ONLY During Your 1999 Tax Year Do Not Listed Property Tax Report Tax Form 4562 Summary parts l b Month and c Basis for depreciation e a Classification year placed in business investment use d Recovery Convention of property service only see instructions period General Depreciation System GDS see instructions 3 year property ANNA 5 year property AAAMAMAAA 11828 70 5 0 years 7 year property NUN 10 year property NV 15 year property NUN 20 year property NUN Residential rental property Nonresidential real property Alternative Depreciation System ADS see instructions Class life VNA 12 year VUN
114. f the time the depreciation you actually took is displayed 8 20 Fixed Asset User s Manual File Maintenance Fixed Assets Do not enter a figure in this field unless you are setting up an asset Field Annual Depr YTD Depr Curr Depr Fixed Asset User s Manual Description The calculated total depreciation for the current year is based on the asset value at the beginning of the year and the depreciation method you chose During year end maintenance the system calculates this value for the next year If you are adding an asset the calculated current year annual depreciation based on the information you have entered so far appears in the field Press Enter to accept this figure or enter the total depreciation you can take in the current year The current annual depreciation is displayed at the bottom of the screen The year to date depreciation is the sum of the depreciation amounts accumulated and posted during the current fiscal year not including unposted amounts for the current period If you are adding a new asset record press Enter to leave this field blank If you are adding a record for an existing asset enter the depreciation you have taken on this asset in the current fiscal year When you post period depreciation the amount in the Curr Depr field below is added to the amount in this field During year end maintenance the annual depreciation is added to the accumulated depreciation
115. field you can record other identifying information such as lot number or production batch number in this field Field Description Listed Asset If the asset is used exclusively for business purposes enter N The Percent Business Use field is set to 100 and cannot be changed If the asset has any personal use attached to it enter Y Tag No A20 If you attach your own inventory tags to assets enter the asset tag number you assigned Memo A20 A6 Enter any information that you need to record about the asset Property Class Code If you have set up a property class coding system for your company s internal use enter the class code Tax Class Number A4 Enter the federal tax class for the asset effectiveJune 1245 Fixed Asset User s Manual 1990 depreciable property such as tangible personal property special purpose and storage structures single purpose agricultural or horticultural structures and petroleum or petroleum products storage facilities 8 9 Fixed Assets File Maintenance For an asset to show as a section 179 asset in the Depreciation Tax Report you must enter 1245 as the tax class number Field Description 1250 depreciable real property that is not 1245 property 1251 farmland when there has been a gain from disposition where farm losses offset nonfarm income 1252 farmland when there has been a gain from its disposal 1254 oil gas or geothermal property when there has been a gain
116. file 4 11 4 12 GLMAxxx file 1 10 3 7 8 15 grouping similar assets 8 5 H Help function key 1 33 Home 1X 4 inquiry command 1 37 report command 1 38 scroll region command 1 39 IDs establishing a format 3 4 setting up 3 4 sorting 3 4 Information function key 1 34 Information menu accessing 1 34 Inquiry function key 1 33 partial key 1 36 1 37 inquiry commands Down Arrow 1 37 End 1 36 Enter 1 37 Esc 1 37 F7 1 37 Home 1 37 Ins 1 37 PgDn 1 36 PgUp 1 36 Up Arrow 1 37 Ins inquiry command 1 37 scroll region command 1 39 Insert line item 1 39 Install Applications function 2 3 2 5 installing Fixed Assets 2 3 setup considerations 2 5 inventory search commands 1 37 Shift FS 1 38 Shift F6 1 38 Shift F7 1 38 Shift F8 1 38 inventory tags 8 9 IRS 3 10 7 15 7 19 7 27 7 28 7 30 7 31 7 32 8 31 8 34 8 37 item description lookup command 1 38 Fixed Assets User s Manual References Index J N Jump function key 1 18 1 34 New MACRS Assets Schedule 7 28 report 7 36 L New MACRS Schedule 7 29 numbers Lease vs Buy Analysis function 1 6 5 3 report 5 10 5 11 5 12 screen two 5 6 Left Arrow report command 1 38 List function key 1 34 to printer or file 1 34 listed assets 8 9 Listed Assets Schedule 7 27 7 29 report 7 34 Loan Amortization function 1 6 5 13 schedule 5 17 5 18 LOCATxxx table 3 9 6 4 6 11 7 4 7 12 7 16 8 13 8 27 9 4 screen
117. ft button to enable or select that function A right click is a single press of the right mouse button To double click move the cursor over the desired function and quickly press the left mouse button twice If there is too long a pause between clicks the computer may interpret your action as two separate clicks and may not perform the desired function Fixed Assets User s Manual 1 11 Conventions Introduction To deselect an object move the cursor off the icon or folder onto a blank space within the window and press the left mouse button Some mouse manufacturers allow you to change the function of the mouse buttons for those who prefer for example to use the mouse with their left hand In this case reverse the commands when you use them For example a click refers to a single press of the right mouse button while the term right click refers to a single press of the left button and so on OSAS Conventions Operations in OSAS follow conventions or patterns The conventions used in OSAS applications are presented below Running OSAS OSAS memory and disk space requirements vary according to the operating system you use and the size of your data file Consult the Resource Manager User s Manual for more information Starting OSAS To start OSAS on a Windows machine double click the OSAS icon on the desktop or in the appropriate folder To start OPEN SYSTEMS Accounting Software on anon Windows machine
118. h Real estate taxes are calculated from assessed values and tax rates Personal property tax on such things as machinery equipment office furniture and vehicles is determined by cost figures summarized by type and age Tax ratios based on these criteria can be applied to the original cost or to the unrecovered cost depending on local rules plant assets Buildings machinery equipment land and natural resources See also fixed asset post To transfer information from one place to another usually at the end of the day or at a distinct break in business program A self contained list of executable code written and implemented to do a task Most programs are represented by a function on a menu See also function Fixed Assets User s Manual B 7 Glossary References property class code A code that systematically breaks down assets from general to more specific categories Here is an example 1 office furniture and equipment 11 desks 12 computing equipment 121 calculators 122 computers 1221 word processing computers 1222 data processing computers 12221 peripherals 122211 printers 122212 terminals Note that the codes become more specific as more digits are used purge To remove from the system See also restore real property Land and in general anything erected on growing on or attached to land recapture of depreciation The reversal of a previously taken depreciation expense For example suppose a comp
119. he adjusted basis of a sold asset Fixed Assets User s Manual B 5 Glossary References B 6 gain recognized The portion of the realized gain considered in calculating taxable income general ledger A record of accounts in terms of a chart of accounts and accounting periods The General Ledger application tracks the effects on accounts from transactions entered in General Ledger and interfaced applications and it is updated by other applications interfaced with it improvement Extraordinary repairs or maintenance of an asset such as an addition to a building that increases its value extends its useful life or both intangible property Property such as copyrights and franchises See also tangible property installation The process of adding an application to an existing system See also conversion interface To join to another application for the purpose of having information entered in one application update information in another application s files investment tax credit A reduction in income tax liability effective 1981 1986 granted by the federal government for purchasing new or used depreciable property The amount of the credit was limited to 10 percent of the eligible investment or to the taxpayer s tax liability whichever was less ITC Elections Three options for modifying the basis of investment tax credit property placed in service after 1982 and before 1987 or otherwise compensating for regular e
120. hieskbiold Ccal 17 Expense 200000 oo Prior Tr bisal loud beductiona ma Tax Year Terable Incom 00 Do You Howe Evidence of Porineos Use claimed TER la Eridance Fritten FES Detput Erice Price p P evirt di iia Sferesen E ad Field Description Tax Year Enter the tax year for which you want to prepare the report Dollar Rounding Enter Y or N to indicate whether or not you want all dollar amounts in the report to be rounded to the nearest whole dollar Print Listed Assets Enter Y or N to indicate whether or not you Schedule want to produce the Listed Assets Schedule Print 179 Expenses Enter Y or N to indicate whether or not you want to produce Schedule the 179 Expenses Schedule Print New MACRS Assets Enter Y or N to indicate whether or not you want to produce Schedule the New MACRS Assets Schedule Fixed Asset User s Manual 7 29 Depreciation Tax Report Field Print Other Depreciation Schedule Print Tax Form 4562 Summary Maximum Dollar Limitation 9 2 Threshold Cost 179 Expense 9 2 Prior Yr Disallowed Deductions 9 2 Tax Year Taxable Income 9 2 Year End Description Enter Y or N to indicate whether or not you want to produce the Other Depreciation Schedule Enter Y or N to indicate whether or not you want to produce the Tax Form 4562 Summary This field appears only if you entered Y in the Tax Form 4562 Summary field Enter the maximum amount of section 179 deduction yo
121. ial key inquiry to cut down the size of the inquiry list For example if you know that the ID starts with J enter J in the ID field before you use the Inquiry command The inquiry list will start with J and run through the end of the list Key PgUp PgDn End Operation Display the previous page of the window Display the next page of the window Move directly to the last item on file Fixed Assets User s Manual Introduction Function Commands Key Home Down Arrow Up Arrow Ins Look up F7 Exit Enter Esc View commands Operation Move directly to the first item on file Move down one item Move up one item Enter a string of information If you have an idea of what you are looking for and the ID is longer than one character you can make a partial key inquiry to cut down the size of the inquiry list For example if you know that the ID starts with J enter J in the ID field Leave the Inquiry window without selecting anything Select the item the cursor is pointing to Open a window that shows Inquiry window commands and the window ID Inventory Search Commands If you use the Inventory application and the cursor is in an Item ID field you can use any of the Inventory Search commands to search for information about items and select an item for entry in the field you are in Key Shift F3 Alias Lookup Shift F4 Customer Vendor Lookup Fixed Assets User s Manual
122. including the columns enter the table ID If the table is based on the asset s recovery period enter 0 If it is based on the month the asset was placed in service enter 1 If the table includes a maximum limit on annual depreciation enter Y if it does not enter N Enter the depreciation table description for example 5 Year Personal Property What you enter in this field will appear in this field and in inquiry windows After you have entered the header fields information approve your entries PgDn You can use the Delete F3 command to delete the header record and related columns Fixed Asset User s Manual 8 33 Depreciation Tables File Maintenance 8 34 Column data Field Description Column No 2 1 The column refers to the IRS depreciation tables For some tables the column number refers to the applicable recovery period For others it is the month placed in service Enter the number of the column you want to work with Most column numbers are whole numbers for example 5 0 In some tables with half year conventions the decimal point indicates the half year column for example 4 5 Copy From Table IDCopy These prompts appear if you entered a new column number From Column No If the column you are creating is like another column in this or any other table you can save time by copying the existing column If the column you want to copy is in this table press Enter to accept the default t
123. ix and or sequence ID you enter is not in the FAMAxxx file the Copy From fields appear If you do not want to copy information from another asset that is if you want to create a new asset press Enter to skip these fields If the asset you are adding is like an asset that is already in the file you can copy the information from the existing record If you enter an asset ID to copy this prompt appears when you press Enter at the Copy From Seq No field Copy dollars and dates too If you want to copy every field in the record press Y If you do not want to copy fields that store dates or dollar amounts press N Do You Want to Maintain General Information Valuation and Credits Depreciation Fixed Asset User s Manual 8 5 Fixed Assets File Maintenance If you are adding an asset you must enter information on all the subscreens see General Information Subscreen Valuation and Credits Subscreen and Depreciation Subscreen later in this section Use the Proceed PgDn command to move on to the General Information subscreen The record will not be saved unless you approve all three subscreens If you use the Exit F7 or Abandon F5 commands on any subscreen the master screen and your entries on previous subscreens will be discarded Changing an asset If the asset ID you entered is in the FAMAxxx file a window appears in the middle of the screen It is a summary of the General Information subscreen DEST L
124. l 1 Enter dicectcey thet contsins the filam to Em coneertad Do poe want auuro Tiles erased alter somyerajom Do yom want com errion to pausa if mo probles ix our i Appl Beaoription eT hon ippi PBsorcipeion Version 1 Enter the number of the target directory The system assigns a number to each OSAS data path with assigned values 2 Enter the path drive and directory that has the files you want to convert You cannot enter the same path as the path you selected as the destination 3 If you want source files to be erased after conversion enter Y if not enter N 4 If you want the conversion process to pause if a problem occurs enter Y if not enter N The system considers evidence of data not converting correctly or file corruption a problem 5 Enter FA in the Appl column Fixed Assets appears 2 6 Fixed Assets User s Manual Installation and Conversion Conversion 6 10 11 Enter your present version number of Fixed Assets and press Enter When you enter OSAS the copyrights screen shows the version of Fixed Assets you have If data files already exist for FA in the intended destination path the following prompt appears FA Data files exist Do you want this task to erase them If you want to erase the existing files and convert the files from the version in the source path enter Y if not enter N If you enter N you must change your entries so that no conflict exists To convert use
125. lp screen Maintenance F7 Exit from the help screen and close the window Exit In Field Editing Commands When the cursor is in a field that contains information you can use the following keys and commands Key Operation Right Arrow Move the cursor to the right Left Arrow Move the cursor to the left Del Delete the character the cursor is on Delete Fixed Assets User s Manual 1 35 Function Commands Introduction Key Ins Insert on off Home End F9 Undo F10 Delete to end of line Inquiry Commands 1 36 Operation Switch insert mode on and off When the Insert flag appears at the bottom of the screen characters you type push characters after the cursor off to the side When insert mode is turned off characters you type write over existing ones Move the cursor directly to the beginning of the field Move the cursor directly to the end of the field Restore a field to the way it was before you changed it You can use this command only while you are in the field once you move past it you must use the Abandon F5 command to clear the field Delete the characters in the field to the right of the cursor If insert mode is turned off and you enter a character in the field s first position everything in the field is deleted When you use the Inquiry F2 command several other commands become available for you to use in the inquiry window To shorten your data search use a part
126. m 4562 Summary 7 28 7 30 notes on line calculations 7 31 report 7 38 TAXDTxxx table 3 9 7 23 8 13 8 28 8 29 screen 8 29 terminal parameter 1 13 toggle between halves of reports 1 38 Tools of the Trade definition 1 4 tracking additions separately 8 5 Trial Depreciation function 1 6 5 19 U Up Arrow function key 1 34 inquiry command 1 37 report command 1 39 scroll region command 1 39 user s manual conventions 1 11 organization 1 11 V Valuation and Credits subscreen 3 11 4 8 8 14 8 19 8 22 8 37 function 4 11 Valuations and Credits subscreen IX 7 Index References screen 8 14 Verification function key 1 34 View Y Year Year inquiry command 1 37 End 179 Expenses Schedule 7 28 after year end 7 43 Credit Recapture Report 7 19 Credit Summary Report 7 15 Depreciation Comparison Report 7 3 Depreciation Summary Report 7 11 Depreciation Tax Report 7 27 Gains and Losses Report 7 7 Listed Assets Schedule 7 27 menu 1 6 New MACRS Assets Schedule 7 28 Other Depreciation Schedule 7 28 Percent of Business Use Report 7 45 Property Assessment Schedule 7 23 Tax Form 4562 Summary 7 28 Year End Maintenance function 7 41 End Maintenance after year end 7 43 before processing year end 7 41 function 1 7 1 8 4 3 6 7 7 7 7 41 8 21 8 35 log 7 44 screen 7 42 year to date depreciation 8 21 IX 8 Fixed Assets User s Manual
127. mary part V i b Date placed service Business Investment use pctg c Builders Supply Depreciation Tax Report Tax Form 4562 Summary Caution d Cost or other basis 50 in a qualified business use see 02 01 1999 oe le le 80 0 35735 00 Property used 50 or less in a qualified business use see instructions Add amounts in column h Enter the total here and on line Enter the total here and on line 7 page 1 YES e Basis for depreciation Bus use only instructions 28588 00 9 page 1 Recovery period 3 0 9 Method Convention 200DB HY Part V Listed Property Automobiles Certain Other Vehicles Cellular Telephones Certain Computers and Property Used for Entertainment Recreation or Amusement For any vehicle for which you are using the standard mileage rate or deducting lease expense complete on 22b columns a through c of Section A all of Section B and Section C if applicable Section A Depreciation and Other Information 22a Do you have evidence to support the business investment use claimed See instructions for limitations for automobiles 220 If Yes is the evidence written h Depreciation deduction 9077 43 9077 43 26 o Sn N y 22a YES i Elected section 179 cost 8500 00 VUN VII VUN VUN 8500 00 T lt Oo wn _ 2 D YN 1 lt O Ray LL
128. mber Memo State MN County Hennepin City Minneapolis Auto Stereo System Clear Sound 1200 45 121 8974 45127 03 31 1992 1230 08 03 31 1992 Acquisition Date Acquisition Cost Placed in Service Last Adjustment Adjusted Cost Retirement Date 03 31 1992 1230 08 Assessment Date Assessed Value 154000 154500 521000 GL Asset Acct GL Accum Depr Acct GL Depr Exp Acct Credits Desc Base Cost Depr Method Table ID Recovery Period Switch To Method Estimated Life in Periods Depreciation Begin Period Depreciation End Period Current Fiscal Year Apply Business Use NO MOS5P NONE Salvage Value Other Bonus Depr 179 Expense Applied Credits Accum Eligible Depr Accum Depr Taken Annual Depreciation Fixed Assets User s Manual 1230 1017 993 141 08 5 0 60 01 1992 01 1997 1996 00 00 00 00 54 92 71 Status Quantity Owned Leased New Used Personal Real Listed Asset Plant Division Department Main Property Class Tax Class Business Use Insured Effective Date Insured Value Valuation Date Replacement Cost Accum Costs Exps Sales Use Tax Paid Total Credits 1230 08 MO5P 5 0 5 0 NONE 60 60 01 1992 05 1992 01 1997 05 1997 1996 1996 YES YES 1230 08 MOSP NONE 00 00 00 00 00 00 00 00 1017 54 993 92 141 71 1017 54 993 92 141 71 ACTIVE 1 OWNED NEW PERSONAL YES Executive 1245 100
129. n Use the General Information subscreen to record information that identifies the asset and detailed information about its acquisition as Tin Gaig La Pet tjip General Information duper ID LOT ma Liacej haper y a Tag Mo qs127 Descripcion dien Mei Sabie emi Property Clase Code Manufacturer Clear Sound Tax lama Huntar 12495 Avdel Ho 1200 fersoral Meal PFENSORAL caros AETTWE Cuanta 1 Daned La aged OWNED Berial Ho 19 121 0974 Mayr iaai HEM Acquisition Data Coll doquisitica Cort 1210 08 Datz Placed i Service 00 31 1454 juited Cast 210 08 Dane of Last kdiwersene 00 2115 Percent business Tae add Betirssart Data kppiy 47 Sook E FadTes T cher T LAT T 4 obec EH Plant fain County Hanrapin Divimicn Executive city Flom Lis Be pertesnk r Ver iftoet ico Poems Pgln gt o proceed The asset ID with suffix ID and sequence number if any you entered on the master screen is displayed Field Description Description A30 Enter a brief description of the asset the name of the Manufacturer A30 manufacturer and the model number Model No A30 Quantity N6 If the item is a single item enter 1 If it is a group of identical items enter the total quantity of identical items Serial No A30 If the asset is a single item enter the serial number the manufacturer assigned to it 8 8 Fixed Asset User s Manual File Maintenance Fixed Assets If you entered a number greater than in the Quantity
130. n 5 19 year to date 4 3 8 21 Depreciation Comparison Report function 7 3 produce before year end 7 41 report 7 5 screen 7 3 IX 2 Depreciation subscreen 3 11 8 16 8 39 screen 8 16 Depreciation Summary Report function 7 11 produce before year end 7 41 report 7 13 screen 7 11 Depreciation Tables defined 3 10 function 1 7 3 10 5 21 8 31 Depreciation Tables function 8 17 Depreciation Tables List function 9 11 list 9 13 screen 9 11 Depreciation Tax Report 179 Expense Schedule report 7 35 179 Expenses Schedule 7 28 function 7 27 Listed Assets Schedule 7 27 Listed Assets Schedule report 7 34 New MACRS Assets Schedule 7 28 New MACRS Assets Schedule report 7 36 notes for Tax Form 4562 Summary 7 31 Other Depreciation Schedule 7 28 Other Depreciation Schedule report 7 37 Tax Form 4562 Summary 7 28 Tax Form 4562 Summary report 7 38 deprecitaion current 4 3 detail lookup command 1 38 Down Arrow inquiry command 1 37 report command 1 39 scroll region command 1 39 E edit line item 1 39 End inquiry command 1 36 report command 1 38 scroll region command 1 39 Enter inquiry command 1 37 scroll region command 1 39 Fixed Assets User s Manual References Index Esc Command help 1 17 1 33 inquiry command 1 37 exit from inquiry window 1 37 from report to menu 1 38 from screen or window 1 17 1 34 F F1 function key 1 17 1 22 1 33 F2 function key 1 33 F3 fu
131. n using no more than 35 characters overall e To preview the report you must be using the Visual PRO 5 Interpreter and have a sysprint printer in your CONFIG BBX file select R If applicable select S if you want the report to be in standard size print or C if you want it to be in compressed print In the Printer dialog box that appears select a sysprint printer and press Enter The report is displayed on the screen 1 42 Fixed Assets User s Manual Introduction Reports e To view the report on the screen select S If the workstation default for compressed characters is inactive the report is displayed in standard character mode If the default is active you can select standard mode or compressed mode See your terminal documentation and the section on the termcap file in the User s Reference Guide PRO 5 If the message End of Page appears at the bottom of the report screen you can press Enter to generate the next page of the report If the message End of Report appears at the bottom of the report screen you can press Enter to exit to the menu you selected the report from e Ifyou need to change some selections before you produce the report select E and then press Enter To end the function and return to the menu without producing the report select E and then use the Exit F7 command Fixed Assets User s Manual 1 43 Installation and Conversion Installation Conversion Fixed Assets User s Manual
132. nction key 1 33 scroll region command 1 39 F4 function key 1 17 1 33 F5 function key 1 33 F6 function key 1 34 F7 inquiry command 1 37 report command 1 38 F8 function key 1 34 FAMAxxx file 1 7 1 8 1 9 3 7 3 10 5 20 8 5 8 6 FARJxxx file 1 7 1 8 1 9 8 35 FATAX file 1 7 1 8 1 9 differences between versions of OSAS 1 8 FATYPE table 8 29 federal tax class 8 9 file interaction 1 8 File Maintenance Depreciation Tables function 8 31 Fixed Assets function 8 3 menu 1 5 Retire Assets function 8 35 Tables function 8 23 files backing up 3 13 FAMAxxx 3 7 3 10 5 20 8 5 8 6 FARJxxx 1 7 8 35 FATAX 1 7 GLMAxxx 3 7 8 15 Fixed Assets adding an asset 8 5 Fixed Assets User s Manual adjusted cost 8 12 application interaction 1 10 asset ID 8 4 before you install 2 3 changing an asset 8 6 converting to version 5 0 2 6 defined 1 5 deleting an asset 8 7 Depreciation subscreen 3 11 8 15 8 16 8 39 Depreciation subscreen screen 8 16 depreciation tables 3 10 8 31 FAMAxxx file 1 7 federal tax classes 8 9 file interaction 1 8 function 1 7 3 10 3 12 6 3 8 3 8 37 9 3 General Information subscreen 3 11 8 8 8 18 8 27 8 28 generating initial depreciation values 3 11 grouping similar assets 8 5 installation 2 3 installing after General Ledger 2 3 installing new version before converting 2 5 interfaced to General Ledger 3 9 interfaced with General Ledger 1 10 3 7 4 3
133. nd you must press Enter to select a function On an application menu you can press PgUp to move to the menu immediately above it If you are several menu levels away from the Main menu you can return to the Main menu by pressing PgUp repeatedly or by pressing the Tab key You can exit from a menu in these ways e Press the PgUp key to go to the previous menu one menu up e Press the Tab key to go to the Main menu Use the Exit F7 command to go to the operating system Function Keys Used in the Text menu Most keyboards have a set of function keys usually labeled with the letter F and a number Within the menu commands are assigned to these function keys You can use the commands to work with data entry screens 1 16 Fixed Assets User s Manual Text Menu Except for the Command Help Esc the Jump Tab commands and the Enter key you can use the Keyboard function in Resource Manager to reassign any function key to any command Key Esc Command help Fl Function Help F2 Favorites Menu F3 Change Company F4 Access Code F4 twice Other Menu ES Live Sample swap F6 Workstation Date F7 Exit F9 Application Setup F10 Add to Favorites Fixed Assets User s Manual Operation Views the list of commands for the menu To close the commands window press any key Displays help information for this function Displays the Favorites menu or changes to the regular menu
134. nergy and certified historic structure investment credits The first reduced the original basis by half the ITC amount the second reduced the percentage of the credit taken by two points without changing the original basis the third took the whole ITC amount without changing the basis The third method was valid only for assets placed in service before 1981 Journal A chronological record of transactions Journal entries Transactions recorded in a journal Fixed Assets User s Manual References Glossary lease An agreement conveying the right to use a property plant or equipment for a stated period lessee The person who leases the property lessor The person who owns the leased property menu A list of applications functions options or other menus Modified Accelerated Cost Recovery System MACRS The method prescribed by the IRS for calculating depreciation on assets placed in service after 1986 The MACRS system is like the ACRS system but it uses revised tables and different recovery rates See also ACRS Other depreciation One of four sets of asset depreciation records provided by the Fixed Assets system Other records are normally kept for local tax purposes See also Book depreciation FedTax depreciation and A M T depreciation personal property Machinery or equipment property that is not real estate See also real property personal property tax Taxes imposed on real estate personal property or bot
135. ng depreciation to your assets You should perform period work at regular intervals Just how regularly you perform it depends on the depreciation methods you use and the number of periods in your fiscal year The functions in this chapter explain the entire cycle of calculation assessment and then the posting of depreciation Fixed Assets User s Manual Compute Period Depreciation Use the Compute Period Depreciation function to calculate the depreciation of active assets The depreciation methods you use and the number of periods in your fiscal year determine whether you should calculate and post depreciation at the end of every accounting period You can calculate depreciation for any combination of columns and for the current period or for arange of periods in the current year For example you can calculate and post the Book column depreciation at the end of every accounting period to keep the general ledger current but wait until the end of the year to calculate the FedTax column depreciation How Period Depreciation Is Calculated When you set up an asset you define its value and the depreciation method When you run the Year End Maintenance function the system uses the information you entered to calculate the annual depreciation for the next year The Compute Period Depreciation function divides the annual depreciation by the number of periods in the fiscal year and places the result in the Current Depreciation field For
136. ns and Interfaces from the Resource Manager Company Setup menu The Options and Interfaces screen appears The name of the company you are working with is displayed Specify whether the Options table is shared or owned See the Resource Manager User s Guide for more information about Options tables Then enter FA as the ID of the application you want to work with The Fixed Assets Options screen appears SA 1500 BEE Gating dt Pii ben 7 Fizad Arsatz Options Des L pt Loe Intarface to General Ledger TL Enter toggle Write To toggle an option for example between YES and NO press Enter When you are finished selecting options press W to save your entries Then exit to the Options and Interfaces screen Select another application whose options and interfaces you want to change or exit to the Resource Manager Company Setup menu Fixed Assets User s Manual Setup Setup Checklist and Functions Tables For Fixed Assets there is only one option whether or not you want to interface Fixed Assets with General Ledger This interface option depends on whether or not General Ledger is installed Do not try to interface Fixed Assets to General Ledger if General Ledger is not installed Tables store information relating to the system data options and other applications You must set up the following tables before you use the Fixed Assets system ACPRDxxx LOCATxxx TAXDTxxx You mus
137. nt loan the system calculates the payment after you enter the balloon amount You cannot access this field First Payment Amount This field appears only if you are working with a fixed principal loan The system calculates the amount after you enter the principal per period You cannot access this field Fixed Asset User s Manual 5 15 Loan Amortization Forecasting Field Description Total Interest Total The system calculates the total interest and total payments Payments plus the balloon amount if any Pick Year From Thru The system fills these fields based on what you entered in the Payments Per Year and Total Number of Payments fields To produce the Amortization Schedule for one year enter the year at both From and Thru To list a range of years enter the first year at From and the last year at Thru To produce the Amortization Schedule for the life of the loan press Enter at both From and Thru Select the output device A sample Amortization Schedule is at the end of this section After the schedule is printed the cursor goes to the Loan Description field Enter new values or exit to the Forecasting menu 5 16 Fixed Asset User s Manual Forecasting Loan Amortization Amortization Schedule page 1 07 21 1999 Builders Supply 8 06 AM Amortization Schedule Loan Description New Delivery Van Loan Principal 34102 37 Loan Type Rule of 78s Annual Percentage Rate 11 5000 Payments per Year 12 Payment Amount
138. ntinue to compute and post period depreciation cycling through the periods in sequence and performing year end maintenance when required until you reach the current period Because the system uses the Date Placed in Service Depreciation Begin Period and Depreciation End Period fields as the keys to determine when to start and stop depreciating each asset this method produces accurate historical values Because of the acceptable range of variations in depreciation calculation and accounting methods the results achieved through this method will be internally consistent but they may not match the results achieved through manual methods For more information about entering fixed assets refer to the Fixed Assets function on page 3 10 Access Codes To safeguard your system prevent access by unauthorized people Use the Resource Manager Access Codes function to set up access codes on your system You can set up access codes for the Fixed Assets system itself for menus in the system or for individual functions To control users access to menus and functions you can set up an access code for each user or group of users that performs the same functions A code for each company Access codes are company specific When you set up an access code for a user the code is assigned the company you are in 3 12 Fixed Assets User s Manual Setup Setup Checklist and Functions Because the codes are company specific you must set up
139. o your applications Text Main Menu H 0545 10 AmE Damp Er Emil Eolo AEEPLE DATA PATH o OL La Company E Builder Supply 10 12 AN m hain Mera r Resource Maagt Forkeistien Configuration TODEb OF ITTA F kecowezing Software When you select an application the application s menu which presents several related functions is superimposed over the Main menu Selecting a function leads you to a function screen or to another menu You can select applications from the Main menu in these ways e Use the arrow keys to move the cursor up or down highlighting the application you want to use Then press PgDn or Enter to select it Fixed Assets User s Manual 1 15 Text Menu Introduction e Press the first letter of the application you want to use The cursor jumps to the first application beginning with the letter press the letter key or the down arrow until the application you want is highlighted When your choice is highlighted press PgDn or Enter to select it e Position the mouse cursor over the application and click The application will briefly highlight and switch to the application screen To jump to the first application on the menu press Home To jump to the last application on the menu press End To select a function from an application menu highlight and select your choices the same way you do on the Main menu with one exception you can press PgDn only when an option leads to another menu a
140. od Base Cost Description After you enter the beginning accounting period and year the system uses the number of periods in the asset s estimated life that you entered to calculate the last period and year of depreciation Enter the base cost the acquisition cost plus added depreciable expenses minus other adjustments of the asset Fixed Asset User s Manual Forecasting Trial Depreciation Field Salvage Value Other Bonus Depr 179 Expense Applied Credits Prior Eligible Depr Prior Depr Taken No Years in Prior Depr 2 Print by Period or Year Fixed Asset User s Manual Description Enter the estimated salvage value the asset will have at the end of its useful life The bonus depreciation is an extra amount the government lets you take with some qualifications consult your accountant during the first year of an asset s life If the asset is eligible for bonus depreciation enter If you want to claim all or part of the cost of the asset as a Section 179 expense enter the amount to be expensed If you want to apply credits to this column enter the amount The total credits from the Credits field on the Valuation and Credits subscreen is displayed at the bottom of the screen For a new undepreciated asset press Enter to skip this field If you took depreciation on the asset in previous years enter the total potential depreciation assuming 100 percent business use you could h
141. oduce a report that includes all the available information leave the From Thru fields on the report function screen blank For example if you want information about all the vendors to be in a report leave the Vendor ID From and Thru fields blank e To limit the amount of information in the report enter the range of information in the From Thru fields For example if you want a report to include information only about vendor ACE001 enter ACE001 at both From and Thru If you want the report to include information only about vendors that start with CO enter CO at From and COZZZZ at Thru Each field where you enter information on a report function screen usually restricts the overall output of the report For example if you leave the Vendor ID From and Thru fields blank the report will contain information about all the vendors But if you enter invoice 100 in the Invoice Number From and Thru fields and invoice 100 is assigned only to vendor ACEOO1 the report includes information only about vendor ACE001 Information for reports is sorted first by a space _ then by characters then by digits then by uppercase letters and finally by lowercase letters No matter what you enter in the From and Thru fields however your entries are sorted in alphabetical order unless the function provides an option to sort the information differently Sorting by alphabetical codes or IDs is easy For example the ID ACL comes before the ID BB because A c
142. omes before B Fixed Assets User s Manual 1 41 Reports Introduction But take notice when you enter codes or IDs that consist of something other than letters the order might not be what you expect For example if 20 items are labeled 1 through 20 and you want all of them to be in a report you might enter 1 at From and 20 at Thru expecting them to be listed 1 2 3 19 20 However since OSAS sorts in alphabetical order they are listed in a different order 1 10 19 2 20 3 9 To prevent that situation pad extra spaces in codes and IDs with zeros so that numbers in alphabetical order are also in numerical order In the example above the items would be labeled 00000000000000000001 through 00000000000000000020 Output Device Report functions screens offer four output options printer file screen and end When you need a hard copy of a report select P and either accept the printer that appears or enter the code for the printer you want to use If applicable select S if you want the report to be in standard size print or C if you want it to be in compressed print If you want to stop printing after it has begun press Ctrl Break e Ifyou want to save the report as a data file for example to include it in a word processed report in CR LF format select F The data path for the workstation including the default drive appears if it is specified in the Defaults function Enter the filename and file extensio
143. on function 4 7 PgUp 1 38 PgDn Right Arrow 1 38 function key 1 34 Tab 1 38 inquiry command 1 36 report command 1 38 scroll region command 1 39 PgUp function key 1 34 inquiry command 1 36 report command 1 38 scroll region command 1 39 Post Period Depreciation before you post 4 12 function 1 8 4 3 4 11 8 21 8 22 8 37 T accounts 4 11 Post Period Depreciation Journal function 4 7 log 4 14 4 15 posting to General Ledger 4 11 Print Period Depreciation function 4 7 printing screen contents 1 34 printing tables 8 30 Proceed function key 1 34 programs backing up 3 14 Property Assessment Schedule function 7 23 produce before year end 7 41 report 7 25 screen 7 23 Q Quick entry turning on or off 1 34 R report commands 1 38 Down Arrow 1 39 IX 6 Up Arrow 1 39 Report Writer 2 3 8 23 tables 8 29 Reports Additions Journal 6 3 Asset Value Report 6 11 conventions 1 41 including all information 1 41 limiting information 1 41 menu 1 6 Retirements Journal 6 7 selecting information for 1 41 Resource Manager Data File Conversion function 2 5 2 6 Install Applications function 2 3 2 5 Options and Interfaces function 3 8 Retire Assets function 1 7 1 9 8 10 8 35 retiring part of a multiple unit asset 8 38 retired assets 6 8 7 7 asset ID plus sequence number 8 35 Retired Assets List function 1 7 8 35 9 15 list 9 17 screen 9 15 retirement defined 8 35 Retirements
144. or personal reasons The system uses this percentage to reduce the amount of depreciation Press Enter to place the asset in service on the displayed date or enter the date you placed the asset in service Fixed Asset User s Manual Trial Depreciation You must enter this date if you are using a depreciation table based on the month the asset was placed in service Field Periods per Year 1 52 Depr Method or Table ID A6 Recovery Period 2 1 Switch to Method A6 Fixed Asset User s Manual Description Press Enter to use the default from the ACPRDxxx table or enter the number of accounting periods in the fiscal year Enter the code for the method of calculating depreciation you want to use or enter the ID of the table containing the table driven depreciation method you want to use For more information about depreciation table names refer to the Depreciation Tables function These are the valid codes for calculated depreciation None calculate no depreciation for this column SL straight line SLACRS straight line ACRS SYD sum of the years digits xxxDB declining balance xxx is a percentage between 000 and 999 Enter the number of years in the asset s depreciable life The system uses this number and the number of periods per year you entered above to calculate the number of periods in the estimated life of the asset If you are using a depreciation table based on recovery period th
145. orate Headquarters Bldg COMPUTER 91 Computer Equipment 1991 COMPUTER 92 Portable Computer Builders Supply Year End Maintenance Depr Switch Method Done Base 11000 00 11000 00 11000 00 11000 00 1230 08 1230 08 1230 08 1230 08 35735 00 35735 00 35735 00 35735 00 197500 00 197500 00 197500 00 197500 00 11021 00 11021 00 11021 00 11021 00 5684 78 5684 78 5684 78 5684 78 Accumulated Depreciation 7333 70 7125 00 7125 00 8250 00 993 92 993 92 993 92 888 53 3801 42 9077 43 13399 38 21838 06 18553 04 18252 96 18553 04 39560 01 6021 00 6021 00 6021 00 6021 00 4593 31 4593 31 4168 84 4358 34 Annual Depreciation 00 00 00 41 71 41 71 41 71 204 93 4147 00 11657 57 10151 04 7396 94 7181 82 7181 10 7181 82 12965 22 00 00 00 00 654 89 654 89 1136 96 1136 95 End of Report Year End Maintenance Log 361777 67 361777 67 361777 67 325107 54 68984 25 73751 48 75808 28 84805 68 18681 64 26191 49 26478 89 22187 43 Fixed Asset User s Manual 7 44 Percent of Business Use Report The Percent of Business Use Report shows the percentage of business use estimated asset life and depreciation method base cost accumulated eligible depreciation accumulated depreciation taken and annual depreciation for all columns Use the report to review the percentage of business use and to compare potential and actu
146. pe Lor Tag Mo 48127 Stato ACTIVE P Lan Bain Division Exsrer ive De pect AUD PES Byte Hargfaccurer Clear Somra ode Ho 1200 Bercial Mo 45 121 974 dog Pare DISD Lee Quantity L Pj Tou Tank t gt Asinteiat General Ener dot TES Yalustion end Comdica TES TES Depreciol 10m Vecificatina Press lt Pabas LO Brose Enter accept Next asset If the asset you want to work with is displayed press Enter To see a summary of the General Information subscreen for the next asset in the FAMAxxx file press N When you find the asset you want to work with press Enter 8 6 Fixed Asset User s Manual File Maintenance Fixed Assets If you go through the file without selecting an asset the system starts over with the first record in the file If you do not want to scroll farther through the file use the Abandon command to start over at the Asset ID field Do You Want to Maintain General Information Valuation and Credits Depreciation Enter Y after the subscreens you want to change Enter N after the subscreens you do not want to change Then use the Proceed PgDn command to move on to the subscreens you selected Deleting an asset After you press Enter to accept an asset record the Delete F3 command is available You can delete an asset record from the master screen or from any subscreen Fixed Asset User s Manual 8 7 Fixed Assets File Maintenance General Information Subscree
147. ple Credit Summary Report is at the end of this section After the report is produced the Year End menu appears Fixed Asset User s Manual Credit Summary Report Year End Credit Summary Report 07 21 1999 9 23 AM Asset ID Description Date Placed New Adjusted Cost Credits Description Used Total Credits ASSET ID AUTO AUTO 92 2 NEW 03 31 1992 Auto Stereo System TOTAL FOR ASSET ID AUTO GRAND TOTAL End of Report 1230 08 1230 08 1230 08 00 Depr Meth BOOK MO5P FEDTAX MOSP OTHER MO5P A M T SL Builders Supply Credit Summary Report by Asset ID New and Used Depr Begin od Period 1 1992 1 1992 5 1992 7 1992 Base Cost 230 08 230 08 230 08 230 08 230 08 230 08 230 08 230 08 179 179 Adjusted Expense Bas e Cost 230 08 230 08 230 08 230 08 230 08 230 08 230 08 230 08 Applied Credits 230 08 230 08 230 08 230 08 230 08 230 08 230 08 230 08 7 17 Fixed Asset User s Manual Credit Recapture Report The Credit Recapture Report shows the estimated and actual asset life difference between estimated and actual life in periods total credit dollars retired and recapture amount for retired assets Use this report as a resource when filling out IRS form 4255 Credit Recapture Report Screen Select Credit Recapture Report from the Year End menu The function screen appears 0545 TODO BEI Comdit Facaptoca Repost
148. preciation Each asset record is divided into four sections the master screen and three subscreens General Information Valuation and Credits and Depreciation Fixed Assets Master Screen Select Fixed Assets from the File Maintenance menu The master screen appears are Gating Gat fmi Help Fixed Arta hast ID LOTS Suf2im Ib 72 deg Ba E Sesceripzion Auto Stereo Spaten Teg fe 45111 anu cturer Clear Bound araras ATTE Eodel Ro 3200 P Lent Amin Sacisl Ko 435 121 8974 Division EXESuUL ie Acq Pale Ta SL 1994 Departs nt Guant itp i Io Tou Bent to Eaincmin ccol Ilaform t Lon TEF Taluation and oredins TES Degeseietion TES r Verification Peer Pgln gt o proceed Use the master screen to select the asset you want to work with and the subscreens you want to access Fixed Asset User s Manual 8 3 Fixed Assets File Maintenance Asset IDs To begin you must enter the asset ID A14 Asset IDs are divided into three parts the first 9 characters form the asset ID proper characters 10 through 13 form the suffix ID and character 14 is the sequence number Bey 1A Asset ID r Suffix ID Sequence Number You can enter an asset ID in two ways Enter all 14 characters in the Asset ID field The system automatically separates the first 9 characters and displays them in the Asset ID field Characters 10 through 13 are displayed in the Suffix ID field and the last character is displayed
149. preciation you can deduct If you entered N in the Listed Asset field above this field is set to 100 and cannot be changed Under current tax rules you cannot deduct depreciation on assets used for business less than 50 percent of the time The system warns you if business use falls below 50 percent but it does not stop accumulating depreciation until you change the asset status to suspended or change the depreciation method to none Field Apply Tax District 1 2 3 A15 Fixed Asset User s Manual Description You can apply the percent of business use to the asset s book federal tax other or alternative minimum tax A M T columns Enter Y for the columns you want to apply it to or N for the columns you want to depreciate at 100 percent The three tax district names you defined in the TAXDTxxx table page 3 23 are displayed Enter the appropriate tax district information for each field 8 13 Fixed Assets File Maintenance Field Description Location 1 2 3 15 The three asset location names you defined in the LOCAT xxx table page 3 23 are displayed Enter the appropriate asset location for each field When you save the General Information subscreen PgDn the next subscreen you selected appears If you did not select another subscreen to maintain the Fixed Assets master screen appears Valuation and Credits Subscreen Use the Valuation and Credits subscreen to record information about the
150. r sfpeecistion Summary Faport Fick lamer 12 From AUTO Print Er Theu MELDERB cool l Auzet ID Tak leds From Tas Glasa Thru 3 GL dager koociomt GE karat coom From 4 EL Accu Depr Account THE li 5 SL Depi Exp docotunE hoc ber kooounrk From 5 Logacion Thru L Pepe Esp Jene Fron Thru Flant From Fein Tizi l Aci lve Fiyiaioe From Ferirej Tiru 3 Har fc per trek From i Speed Thru B face Flaced From 5 Tisu Price pl Ri evire 3 ile 5 creen E od 1 Enter the range of asset IDs you want in the report A14 2 Enter the range of tax classes you want in the report A4 Fixed Asset User s Manual 7 11 Depreciation Summary Report Year End 9 10 Enter the range of general ledger asset account numbers you want in the report A12 The Inquiry F2 command is available if Fixed Assets is interfaced with General Ledger Enter the range of accumulated depreciation account numbers you want in the report A12 The Inquiry F2 command is available if Fixed Assets is interfaced with General Ledger Enter the range of general ledger depreciation expense account numbers you want in the report A12 The Inquiry F2 command is available if Fixed Assets is interfaced with General Ledger Enter the range of the three user defined location fields you want in the report The names of these three fields are determined by the LOCATxxx table The default descriptions are Plant Division and Department En
151. r the range of general ledger asset account numbers you want in report A12 The Inquiry F2 command is available if Fixed Assets is interfaced with General Ledger Enter the range of acquisition dates you want in the report Enter the range of user defined locations you want in the report A15 The names of these three fields are determined by the LOCATxxx table The default descriptions are Plant Division and Department Select the item by which you want to organize and subtotal the report Select the kind s of assets you want in the report Select the output device A sample Asset Value Report is at the end of this section After the report is produced the Reports menu appears Fixed Assets User s Manual 6 11 07 21 1999 Builders Supply 9 11 AM Asset Value Report by Asset ID Reports Asset ID Acq Date Net Book Val Current Replace Cost Description Status Replace Cost Value Date ASSET ID AUTO AUTO 95 02 01 1999 23433 58 Insurance 02 01 1999 35735 00 35735 00 Automobile Tan LMC ACTIVE E Assessment 02 01 1999 35000 00 35000 00 TOTAL FOR ASSET ID AUTO 23433 58 Insurance 35735 00 35735 00 00 Assessment 35000 00 35000 00 ASSET ID BUILDING BUILDING 1 04 11 1993 178946 96 Insurance 04 11 1993 197500 00 197500 00 Corporate Headquarters Bldg ACTIVE Assessment 12 15 1994 222790 00 222790 00 TOTAL FOR ASSET ID BUILDING Insurance 197500 00 197500 00 Assessment 222790 00 222790 00 GRAND TOTALS 202
152. re required to recapture credits Then produce the Credit Recapture Report to clear the Current Depreciation field Enter the reason you are retiring the asset This field is user defined For example you might enter S if you plan to sell the asset D if you plan to donate it to a school or charity Enter the date you retired the asset The system copies this date to the Retirement Date field in the asset record Enter the quantity of the asset you want to retire You can retire part or all of the asset For example if the original asset quantity was 4 you can enter to retire one unit of the asset If you retire part of a multiple unit asset the asset status will not switch to retired until the entire dollar value of the asset has been retired Fixed Asset User s Manual 8 37 Retire Assets File Maintenance Field Description Retirement Amount The adjusted cost times the retirement quantity percentage if other than 100 percent is displayed Press Enter to accept the displayed cost or enter the dollar value of the asset 1 The retirement amount cannot exceed the value of the asset 2 If you are retiring part of a multiple unit asset the dollar value of the retirement amount expressed as a percentage of the adjusted cost not the retirement quantity determines the percentage by which the other amount fields in the asset record will be reduced For example if you have a four unit asset with a total
153. resource when filling out Part I of IRS Form 4562 New MACRS Assets Schedule This section of the report shows the MACRS depreciation for assets placed in service during the specified tax year It is organized in order of depreciable life of the property Use the New MACRS Assets Schedule as a resource when filling out Part II of IRS Form 4562 Other Depreciation Schedule This section of the report shows the depreciation taken on nonlisted assets and assets placed in service before the specified tax year Use the Other Depreciation Schedule as a resource when filling out Part HI of IRS Form 4562 Tax Form 4562 Summary This section of the report is a summary of IRS Form 4562 Use the Tax Form 4562 Summary as a resource when filling out Parts I IV and Part V Section A of IRS Form 4562 Information for Part IV Part V Sections B and C and Part VI of IRS Form 4562 is not included in the Fixed Assets system these sections of the form must be figured manually 7 28 Fixed Asset User s Manual Year End Depreciation Tax Report Depreciation Tax Report Screen Select Depreciation Tax Report from the Year End menu The function screen appears SAS TON Saige Cat fot kjip Paptecistion Tax Report Tar Tear 1596 Dollar Bourding TIS Frint Listed kamet Schedule TES 10 Eipenses Schule TES Heu HiChS saeta Bebedui TES Other Deapeeciation Ichedule TES Tek Foco 4562 Bic y TES Amino Dollar Limitation 17200 00 T
154. ry F2 command is available if Fixed Assets is interfaced with General Ledger Enter the range of percentages of business use you want in the schedule N3 Enter the range of assessment dates you want in the schedule Select the type of property you want in the schedule Select the type of assets you want in the schedule Select the output device A sample Property Assessment Schedule is at the end of this section After the schedule is produced the Year End menu appears Fixed Asset User s Manual Property Assessment Schedule Year End Property Assessment Schedule 07 21 1999 9 49 AM Asset ID Description STATE MN BUILDING Corporate Headquarters Bldg COMPUTER 0001 Micro Computer for Accounting TOTAL FOR MN GRAND TOTAL End of Report Builders Supply Property Assessment Schedule by State Personal New or GL Asset or Real Used REAL NEW PERSONAL NEW PERSONAL REAL PERSONAL REAL Account 151000 153000 Assessment 12 15 1994 06 10 1989 Assessed 222790 222790 222790 7 25 Fixed Asset User s Manual Sections Depreciation Tax Report The Depreciation Tax Report shows the listed assets on file the 179 expenses associated with assets placed in service during the specified tax year the Modified Accelerated Cost Recovery System MACRS depreciation for assets placed in service during the specified tax year the depreciation taken on nonlisted assets and as
155. s in a particular order In the following list codes and IDs are sorted from lowest to highest and dashes represent blank spaces SSS 0 EEE 1 Ze Z a A 01 EEE Ee 000000 000001 1 The organization of these codes illustrates the following principles e The system reads codes from left to right until it finds something other than a blank space e Ttems that make up a code are always listed alphabetically The items are listed in this order for each position blank spaces characters and so forth numbers 0 9 uppercase letters A Z lowercase letters a z Fixed Assets User s Manual 3 3 Setup Considerations Setup 3 4 Alphabetical rules are not intuitive when numbers are involved Numbers are sorted as if they were letters When the first characters of several IDs are compared the ID with the smallest first character is placed first in the list If the first character of the IDs is the same the second characters are compared and the ID with the smallest second character is placed first in the list This comparison is made for each character in the range of IDs until the IDs are clearly in alphabetical order If you use numbers for IDs pad them with zeros so that they are all the same length and numeric rules can hold true For example in alphabetical sorting ID 112 comes before ID 60 since anything that starts with 1 comes before anything that starts with 6 alphabetically If ID 60
156. sets placed in service before the specified tax year and a summary of IRS Form 4562 Use the Depreciation Tax Report as a resource when filling out IRS Form 4562 Depreciation and Amortization Use Form 4562 to claim your deduction for depreciation and amortization to make the election to expense some tangible property section 179 and to provide information on the business and or investment use of automobiles and other listed property Do not file any part of the Depreciation Tax Report with the IRS Use the report solely as an aid in preparation for filling out Form 4562 of the Report The Depreciation Tax Report consists of five sections reflecting information for parts I II III and V a of IRS Form 4562 You can print any or all of the five sections of the report Listed Assets Schedule This section of the report shows the listed assets on file Assets with more than 50 percent business use are listed first then assets with 50 percent business use or less are listed Use the Listed Assets Schedule as a resource when filling out Part V Section A of IRS Form 4562 Fixed Asset User s Manual 7 27 Depreciation Tax Report Year End 179 Expenses Schedule This section of the report shows the 179 expenses associated with assets placed in service during the specified tax year It also lists the 179 expense amount from the Listed Assets Schedule if you elected to produce it Use the 179 Expenses Schedule as a
157. should reflect the original cost of the asset before adjustments to the basis 1 Do not round off numbers The Fixed Assets system calculates to the cent and if the original numbers are not accurate other numbers will not be either 2 You might have negative assets such as trade ins and tax credit adjustments Once you have entered a negative acquisition cost for an item the other amounts you enter in the asset record must be negative Field Description Adjusted Cost The adjusted cost differs from the acquisition cost in that it is the cost figure all other calculations are based on Enter the acquisition cost plus or minus adjustments For example if you install a new motor in your delivery truck increasing the depreciable value of the truck enter the acquisition cost plus the cost of the new motor in this field Similarly if you acquire an asset and two years later decide to write off part of the asset s value change the value in this field not the value in the Acquisition Cost field 8 12 Fixed Asset User s Manual File Maintenance Fixed Assets Remember to change the Date of Last Adjustment field whenever you change the adjusted cost Field Percent Business Use 0 100 Description Enter the percentage of time the asset is used for business reasons as opposed to personal reasons The system uses this percentage in the Compute Period Depreciation function to calculate the amount of de
158. sses Report Screen Select Gains and Losses Report from the Year End menu The function screen appears Sergi Edt Pii Hap Gains and Lowes Fmport Fire haser ID From COSPOTER 0003 04 Thia COMPUTER 0001 01 Beriremarnt Code room The GL harat fccome Foo Thee Beticremart Bete room Thr Print by 1 Laast TD ly Ferien Grit 1 Gb Amet kocoaunt i GuTguL dewioe Picihtez pifjerieu ii Brocesa jE mi Fixed Asset User s Manual 7 7 Gains and Losses Report Year End 1 Enter the range of asset IDs you want in the report A14 2 Enter the range of retirement codes you want in the report Al 3 Enter the range of general ledger asset account numbers you want in the report A12 The Inquiry F2 command is available if Fixed Assets is interfaced with General Ledger 4 Enter the range of retirement dates you want in the report 5 Select the item by which you want to organize and subtotal the report 6 Select the output device A sample Gains and Losses Report is at the end of this section After the report is produced the Year End menu appears 7 8 Fixed Asset User s Manual Gains and Losses Report Year End d Losses Report ins an Ga 07 21 1999 9 19 AM Acq Date Asset ID Date Placed Description Date Retired ASSET ID COMPUTER COMPUTER 0001 01 07 21 1994 BOOK Asset Not in Master Fil 07 21 1994 FEDTAX Business Use 05 30 1992 OTHER Tax Class A M T TOTAL FOR ASSET ID COM
159. ssing When you use the Post Period Depreciation function the system adds the current depreciation to the year to date depreciation and resets the current depreciation to zero When you use the Year End Maintenance function the system adds the year to date depreciation to the accumulated depreciation taken resets the YTD Depreciation field to zero adds the annual depreciation to the accumulated eligible depreciation and calculates the annual depreciation for the next year You can also delete specific retired asset records from the FARJxxx file during year end processing 1 8 Fixed Assets User s Manual Introduction The Fixed Assets System When you use the Retire Assets function the system enters a retirement date in the asset record in the FAMAxxx file changes the asset status to retired and posts all the asset depreciation fields to corresponding fields in the FARJxxx file A retirement record is created in the FARJxxx file using the information from the FAMAxxx file and information you enter during the retirement e asset ID plus a 2 character retirement sequence number e retirement reason e retirement code e retirement date e quantity retired e asset dollar value retired e retirement proceeds e retirement expenses e retirement credits depreciation methods for each column from the FATAX file e general ledger asset account number The retirement record also includes these fields for each column Book FedT
160. station date System Date to change the workstation date to match the operating system date Abandon to exit without changing the date or Exit to return to the Main menu Tools Menu pe E AT Ei ESE Command Icon Key Result Calculator Displays the Windows calculator Favorites Menu Ein Loch PS ore Hate Cr ra Command Icon Key Result Change to F2 Displays the Favorites menu Main Favorites f gt menu See Favorites Menu on page 1 29 Fixed Assets User s Manual 1 25 Graphical Style Menus Introduction Other Menu te a es RE p Taibai SESJE 215 Esaci n am pasing 3 prian Comer Cal a PDS oe Fran Sieger ppd nace piri Ire er Gone norton ley uppa araon Lim Ecarmandz The Other menu contains a set of utilities A calculator and Global Inquiry which consolidates and presents data from other applications are some of the utilities on the Other menu See the Resource Manager User s Manual for information about the utilities on the Other menu Help Menu Ele Dwe Fyon Ote EEJ Beane He a Command Icon Key Result Help Fl Displays the online help dl About OSAS Displays the About OSAS dialog box 1 26 Fixed Assets User s Manual Introduction Graphical Style Menus Toolbar Icons ala 2 ESEE There are three icons on the toolbar that were not described above Icon Key Result Displays the Application Information dialog box Opens an MS DOS prompt Displays a screen for calling
161. t set up one ACPRDxxx table for each company in the system You can set up the LOCATxxx and TAXDTxxx tables for individual companies and or all companies You must enter OWN in the Option Table Type field in the Options and Interfaces function to be able to set up company specific tables For example you can set up table LOCAT for companies that use the same location names and you can set up table LOCATAO1 for company A01 LOCATBO01 for company B01 and so on if those companies use different location names If you delete a company specific table that company uses the generic table For example if you delete table LOCATAOI company A01 uses the LOCAT table For more information about these tables see page 8 24 Fixed Assets User s Manual 3 9 Setup Checklist and Functions Setup Depreciation Tables The Fixed Assets system makes extensive use of tables supplied by the IRS to calculate depreciation All the established current depreciation tables and selected tables from earlier years are provided with the Fixed Assets system However since tax laws change frequently you may need to add or change depreciation tables before you begin Fixed Assets processing Consult your accountant to determine if you need to change these tables or add tables before you begin Fixed Assets processing Depreciation tables are shared by all companies on your system For information about how to add or revise depreciation tables refer
162. table driven depreciation method you can use the Inquiry F2 command These are the valid codes for calculated depreciation None calculate no depreciation for this column SL straight line 5 6 Fixed Asset User s Manual Forecasting Lease vs Buy Analysis Field Recovery Period 2 1 Switch to Method A6 Estimated Life in Periods N5 Fixed Asset User s Manual Description SLACRS straight line ACRS SYD sum of the years digits xxxDB declining balance xxx is a percentage between 000 and 999 Enter the number of years in the recovery period The system uses this number and the information in the ACPRDxxx table to calculate the number of periods in the estimated life of the asset see below and to identify the column to use if you are using a table method based on the recovery period If you are using sum of the years digits or declining balance depreciation you can choose an alternative depreciation method for the end of the fiscal year if it is to your advantage If you do not want to switch methods automatically press Enter If you want to switch methods what you can enter depends on the primary method you chose If you selected sum of the years digits SYD for the primary depreciation method you can enter SL straight line If you selected the declining balance xxxDB method you can enter SYD or SL If you are using a depreciation method other than sum of the years
163. te and the end of an asset s depreciable life See also expired life restore To bring information back to its original place and condition See also purge retirement Eliminating the asset from the system for example through sale trade donation abandonment or casualty Rule of 78s A method of calculating interest on a loan in which 12 months is divided into 78 interest periods On a 12 month loan an individual would pay 12 78 interest in the first month Section 179 expense A deduction that allows you to treat at least part of the cost of qualifying property as an ordinary expense rather than a capital expenditure in the first year it is placed in service For more information consult your accountant or financial controller Fixed Assets User s Manual B 9 Glossary References B 10 service lease A lease for a period considerably shorter than the usable life of the asset in which the lessor is responsible for maintenance and taxes and the lessee does not acquire the asset at the end of the leased term See also capital lease straight line depreciation method A nonaccelerated depreciation method in which the acquisition cost of property is written off in equal amounts during the estimated useful life of the asset straight line loan type Total interest expense spread evenly over the life of the loan sum of the years digits depreciation method An accelerated depreciation method in which annual deprecia
164. ter the range of dates assets were placed in service you want in the report Select the item by which you want to organize and subtotal the report Select the kind s of assets you want in the report Select the output device A sample Depreciation Summary Report is at the end of this section After the report is produced the Year End menu appears 7 12 Fixed Asset User s Manual Depreciation Summary Report Year End Depreciation Summary Report 07 21 1999 9 22 AM Asset ID Description ASSET ID AUTO AUTO 92 2 Auto Stereo System TOTAL FOR ASSET ID AUTO GRAND TOTAL End of Report Depr Begin Period BOOK 01 1992 FEDTAX 01 1992 OTHER 05 1992 A M T 07 1992 Depr End Period 01 1997 01 1997 05 1997 06 1997 Builders Supply Depreciation Summary Report by Asset ID of Base Est Depr Accum Depr Remaining Deprec Year to Date Life Method Base Cost Depr Base This Year Depreciation 230 08 875 83 236 16 9 60 230 08 875 83 236 16 9 60 230 08 875 83 236 16 9 60 341 55 13 88 230 08 875 83 236 16 230 08 717 75 341 55 230 08 875 83 236 16 230 08 875 83 236 16 118 09 230 08 875 83 236 16 118 09 230 08 717 75 341 55 170 78 7 13 Fixed Asset User s Manual Credit Summary Report The Credit Summary Report shows the base costs depreciation methods 179 expenses and adjusted base costs applied credit amounts and percentages of adjusted base costs for all columns
165. the lease Enter the net investment or tax credits you can take on the lease Enter the net expenses involved in leasing the asset Enter the total cash price of the asset Enter the investment or tax credit you can deduct from the depreciable base if you purchase the asset Enter the net expenses involved in buying the asset When you save your entries PgDn the second Lease vs Buy Analysis screen appears Fixed Asset User s Manual 5 5 Lease vs Buy Analysis Forecasting Lease vs Buy Analysis Screen Two Use the second Lease vs Buy Analysis screen to enter proposed depreciation information in two columns BOOK and FEDTAX Geige Li Pii bob H Pepe Z mE lo Leann ve Buy Analyair LEAST TH FESTAN Base oar 13 00 14 00 Depr Bethe oc Table I HOME Bo Mesa PezLod co 0 0 Seite to Bachod HOME ERE Estimicd Life in Fecioda i a Deprecietice legia Period 012001 1719958 Depreci l ica End Fetid Dos EI Salvage Valus 00 00 Ch Bonus Depr oo DO 173 Eupen 00 Do Applied Cradita 00 Do Dutpuk service Price piP erisw Fl ite IMi za Field Description Base Cost Press Enter to use the base cost you entered on the first screen in the Cash Price field or enter a different base cost Depr Method or Table ID Enter the code for the method of calculating depreciation A6 you want to use or enter the ID of the table containing the table driven depreciation method you want to use If you use a
166. tion is calculated by multiplying the acquisition cost of the asset less its estimated salvage value times a fraction The numerator of the fraction is the number of years in the asset s remaining life at the beginning of the year the denominator is the sum of the years digits The Fixed Assets system uses an alternate method applying a factor to the unrecovered cost rather than to the original cost which compensates for errors in calculating the depreciation from previous years and assures that the asset s unrecovered cost will be zero at the end of its useful life table A grid that holds records and is visible See also file tangible property Property that can be seen or touched See also intangible property Fixed Assets User s Manual Numerics 179 Expense Schedule report 7 35 179 Expenses Schedule 7 28 7 29 A Abandon function key 1 33 Access Codes parameter 1 13 access codes company specific 3 12 setting up 3 12 what to protect 3 13 ACPRDxxx table 3 9 3 11 3 12 4 4 4 5 4 8 5 7 5 21 7 41 8 18 8 19 8 25 screen 8 26 adding an asset 8 5 Additions Journal function 1 6 6 3 produce before year end 7 41 report 6 5 adjusted cost 8 12 alphabetical sorting 3 3 of numbers 3 4 application interaction 1 10 asset ID how to enter 8 4 parts of 8 4 Asset Value Report function 1 6 6 11 report 6 12 screen 6 11 assets listed 8 9 retired 6 8 Fixed Assets User s Manual Index
167. ts User s Manual 3 5 Setup Checklist and Functions Follow the steps in the checklist below to set up the Fixed Assets system Each step is explained in this section Set up the options and interfaces Build the tables Build the depreciation tables Build the FAMAxxx Fixed Assets file Set up access codes Set up a backup schedule ON Na RD Options and Interfaces An application can be interfaced to work in conjunction with other applications Fixed Assets can be interfaced with General Ledger If you interface Fixed Assets with General Ledger the account numbers you enter in the asset records must be set up in the GLMAxxx General Ledger Master file Then you can use the Inquiry F2 command to look up and select general ledger account numbers when you enter asset records page 3 12 and create Journal entries when you post period depreciation page 4 11 After you define the accounts in the assets records posting period depreciation debits the depreciation expense account and credits the accumulated depreciation account for the sum of the current depreciation amounts in the Book column Retiring an asset does not remove it from the general ledger asset accounts After you retire and dispose of an asset you must make a manual GL Journal entry to remove the asset from your books Fixed Assets User s Manual 3 7 Setup Checklist and Functions Setup 3 8 Options and Interfaces screen Select Optio
168. u can claim For information see the IRS document Instructions for Form 4562 The number you enter here will appear on line 1 of the Tax Form 4562 Summary section of the report This field appears only if you entered Y in the Tax Form 4562 Summary field Enter the threshold cost of section 179 property before reduction in limitation The number you enter here will appear on line 3 ofthe Tax Form 4562 Summary section of the report This field appears only if you entered Y in the Tax Form 4562 Summary field The carryover of disallowed deductions from the prior tax year is the amount of section 179 property if any elected to be expensed in previous years but not allowed as a deduction because of the taxable income limitation If you filed Form 4562 for the prior tax year enter the amount from line 13 of your prior year Form 4562 The number you enter here will appear on line 10 ofthe Tax Form 4562 Summary section of the report This field appears only if you entered Y in the Tax Form 4562 Summary field Fixed Asset User s Manual Year End Field Do You Have Evidence of Business Use Claimed Is Evidence Written Depreciation Tax Report Description Enter the taxable income computed without regard to any section 179 expense deduction For more information see the IRS document Instructions for Form 4562 The number you enter here may appear on line 11 of the Tax Form 4562 Summary section of th
169. were ID 000060 and ID 112 were ID 000112 ID 000060 would be listed first since 060 is less than 112 alphabetically and numerically When you assign IDs and codes establish a format that makes sense for your business and use it consistently The following suggestions may help e To prevent organization problems use zeros to make all IDs the same length If IDs are divided into more than one part the parts should be the same length in every ID Do not use spaces to divide IDs into more than one part For example use ACE 01 and ACE 11 instead of ACE 1 and ACE 11 or ACE 01 e Ifyou use letters in IDs use either all uppercase or all lowercase letters so that the IDs can be sorted correctly e Use descriptive IDs For example WINO01 and WINO02 are more descriptive IDs than 000001 and 000002 If you already use a numbered system you might want to stick with it e Ifyou want to sort items by a particular attribute name or group put the attribute in the ID For example if you purchase two nearly identical drill presses you can label them DRILLPRES0001 and DRILLPRES0002 differentiating them by suffix ID Fixed Assets User s Manual Setup Setup Considerations e To ensure that you can insert new items into a sequence use a combination of letters and numbers that leaves room in the sequence for later additions For example setting up two consecutive IDs of WIN001 and WINOOS leaves room for three items in between Fixed Asse
170. xed Asset User s Manual Tables Use the Tables function to set up and maintain the Fixed Assets tables Tables store information about the system data options and other applications like Report Writer The following tables are related to Fixed Assets ACPRDxxx LOCATxxx TAXDTxxx For more information about each of these tables see their individual descriptions in this section The OPTxxx Options table stores options and interfaces settings Maintain the information stored in this table through Fixed Assets system functions not through the table itself Fixed Asset User s Manual 8 23 Tables File Maintenance Tables Screen Select Tables from the File Maintenance menu A blank tables screen appears FATE Tanie Ib de FROH DESST IBC Lon Account iag Perlt ds Table Husker al Cola E Colum Length 12 Typ 4 Description Book Fad Tax char L E T No Feriods H 12 12 13 Thir Yemc a a a Begin Pee Lod a Lo oO LO Indra Period ni 8 24 GA 1000 To add or change a table enter the table ID A8 To set up a company specific table enter the table ID plus the one to three character company ID To delete the table use the Delete F3 command If you entered a new table ID the Copy From field appears A8 To copy a company specific table enter the table ID plus the three character company ID A set of tables comes with the sample company Builders Supply You can copy th
171. xtensive use of tables supplied by the IRS to calculate depreciation Use the Depreciation Tables function to add to or revise these tables Allthe established current depreciation tables and selected tables from earlier years are provided with the Fixed Assets system However since tax laws change frequently you may need to add or change depreciation tables before you begin Fixed Assets processing Consult your accountant to determine if you need to change these tables or add tables before you begin Fixed Assets processing Depreciation tables are shared by all the companies on your system Fixed Asset User s Manual 8 31 Depreciation Tables File Maintenance Depreciation Tables Screen Select Depreciation Tables from the File Maintenance menu The Depreciation Tables screen appears Fa TE einge Ea Bart tjip Tenis O Gan Col Dbessrigeiorn Colum Ho Percent Bae Lue i 15 000 2 25 000 3 20 000 4 30 000 z 20 000 1 000 7 000 B 000 a 000 Lo 006 L1 000 12 ooo 13 000 ig OOo 15 000 r NMeritiosticoa Depreciation Tables un Tepe O l fear ande harbor laasee 5 0 Perctat Manim a i no 00 38 00 17 000 DO 32 Eu 18 iai Do 33 00 44 000 oo 34 io ZO 2000 Do 33 00 21 000 00 35 E 000 Go 47 DO 23 200 Do J8 DO 24 ooo 00 39 a E 000 00 40 00 24 000 Do 1 00 27 ooo Do 42 ol e m0 OO 43 oo 20 200 Do 44 ca 30 ooo DO 44
172. y in certain applications If an application requires a setup function you will find instructions in that application s user s manual Displays information about the selected function 1 31 Function Commands Once you select an OSAS application function from the menu the function screen appears The way that you enter data on OSAS screens is consistent from function to function To move around the OSAS screens you use the function commands described below Most keyboards have a set of function keys usually labeled with the letter F and a number In OSAS commands are assigned to these function keys You can use the commands to work with data entry screens Except for the Command Help Esc and Jump Tab commands and the Enter key you can use the Keyboard function in Resource Manager to reassign any function key to any command Key Operation Esc View the list of commands for the screen you are on and the Command help field you are in To close the commands window press any key Fl Get information about the field you are working on Help F2 Make a selection from a range of entries for a field if the Inquiry Inquiry flag appears at the bottom of the screen F3 Delete the information on the screen Since this command can Delete delete an entire record use it with caution F4 Open a menu of utilities A calculator and Global Inquiry Other which consolidates and presents information from other appli
173. you are ready to convert files use the Data File Conversion function on the Company Setup menu in Resource Manager see the Resource Manager User s Guide to upgrade Fixed Assets You can upgrade it from version 3 2 4 0x 4 1x or 5 xx If you want to convert to version 6 00 from a version earlier than 3 2 contact a client support representative You must install the new version of Fixed Assets before you convert files You can replace and update the programs properly only by using the Install Applications function in Resource Manager Before you convert an application s files make note of the version number of the application you are converting from The Data File Conversion function has no way of determining the information from within the function Consider Your Setup Before you try to convert your version of Fixed Assets to the current version consider the exact setup of your system Since OSAS code can be customized modifications to your system might be lost if you install a newer version of a program or update a file If you are not sure whether your system is ready for conversion consult your value added reseller Fixed Assets User s Manual 2 5 Conversion Installation and Conversion Converting to Version 6 00 Select Data File Conversion from the Company Setup menu in Resource Manager The function screen appears P ISAS 100 MEE r mita Fila Tommcrion Belet dLrSMOEy On Shieh Lo Cale Files 1 DASS Sirp
174. yses The trial number is 1 whenever you enter this function and is incremented by 1 each time you generate an analysis The trial number is reset to 1 when you exit to the Forecasting menu Press Enter to accept the displayed number or enter a different number Enter the year you want the analysis to start Enter the number of years you want the analysis to cover Press Enter to place the asset in service on the displayed date or enter the date you plan to place the asset in service Enter your effective income tax rate Enter the incremental borrowing rate that is your cost of capital Enter the compounded investment rate that is the rate of return you could expect if you invested capital instead of buying assets Enter the discount rate that is your internal rate of return or opportunity cost Fixed Asset User s Manual Forecasting Lease Type of Lease Prepayment Payment Amount Number of Payments N3 Payments per Year N2 Number of Ist Year Payments N2 Credit to Take Expenses Cash Price Credit to Take Expenses Lease vs Buy Analysis For an operating lease enter O For a capital lease enter C Enter the lease prepayment if one is required Enter the regular lease payment Enter the number of payments you will make during the life of the lease Enter the number of payments you will make in a normal year Enter the number of payments you will make in the first year of

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