Once Fixed Assets CS is installed, you can begin entering assets. However, the Setup menu in Fixed Assets CS includes several optional setup tasks (described in the sections below) that you might want to perform to customize how you use Fixed Assets CS and to maximize your efficiency and productivity while entering assets.

User preferences

These options can be set for each user, including users on network installations.

To perform the following tasks, choose Setup > User Preferences.

• Specify client data and application file locations
• Customize the use of the ENTER key
• Alternate background color on lists
• Change cursor movement in the Depreciation tab for MACRS assets
• Change how assets are automatically numbered
• Change the default starting field to begin asset data entry in the Asset # field
• Print the date, time, or borders on reports; include a report options banner; and change the dialog to which you will return after previewing or printing reports
• Set user-specific 2 Up and duplex print options

Client-specific options

These options can be set on a client-by-client basis and are available only when a client is open.

To access these options, open a client, choose Setup, and choose one of the following options.

Activities

Situses

Associations

Treatments

Image Library

Method/Life Wizard

1065 Allocation (UltraTax/1065 users only)

Journal Entry Accounts

Options

State calculations

The State Calculations dialog contains information about the selected state's compliance with sections 168(k) and 1400L bonus depreciation, 1400N (GO Zone) bonus depreciation, 168(n) (Disaster Area), and 179 limits. This information is current as of the tax year's first release of Fixed Assets CS. If state law changes after the initial release, you must make the appropriate changes for the state in this dialog.

Note: You can reset the state calculations to default by selecting Restore Defaults in the State Calculations dialog.

To set options that affect state treatments for all Fixed Assets CS clients, choose Setup > State Calculations.

See the following topics for more information.

• Modify a state's section 179 expense limitations
• Modify a state's compliance with bonus depreciation

Custom depreciation methods

To create custom depreciation methods for use with any client, open a client and choose Setup > Custom Methods.

See Defining a custom method for calculating depreciation for details.

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