Entering amortization information

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To enter amortization information, perform the following steps.

  1. Open the desired client and, if necessary, click an activity folder.
  2. In the Asset List window, click the Add button to add a new asset, or highlight an existing asset and click the Modify button.
  3. If you are adding a new asset, enter the asset's description, date in service, and information for any of the association fields at the top of the Asset Detail dialog.
  4. In the Depreciation tab, select Amortization from the Method drop-down list.
  5. In the Life field, enter the amortization period in years.
  6. Click the Other tab.
  7. Select the IRC section from the Amortization section drop-down list.

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