Entering detailed asset data

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Note that entering detailed asset data in the asset module is the application default, as indicated by the checkmark in the Enter asset detail information checkbox in the File > Client Properties > Advanced Properties > Enter Asset Detail tab.

  1. Open the Asset List window for an activity.

    Note: Any assets you have already entered for this activity appear in the asset list. The default columns for this window are Asset #, Description, In Service (date), Disposal Method, Tax Cost/Basis, Tax Current Depr, and Group. However, you can customize the column settings.

  2. In the Asset List window, you can do the following tasks.

    • Add an asset by clicking the Add button. This opens a new record in the Asset Detail dialog.

      Note: By default, the next available asset number is automatically assigned to the new asset, but you can change how assets are automatically numbered.

    • Modify an existing asset by highlighting an asset and clicking the Modify button. This opens the asset's record in the Asset Detail dialog.
    • Delete an existing asset by highlighting an asset and clicking the Delete button.
  3. When you click the Add or Modify button, the Asset Detail dialog opens. Use the fields and tabs in the Asset Detail dialog to enter or modify the information for the asset.
  4. When you finish entering data for the asset, perform either of the following steps.

    • Click the Add Asset Add Asset button button on the toolbar (or press CTRL+A) to save the information and move to the next record in the Asset Detail dialog.
    • Click the Done button button to save the information and return to the Asset List window. Then, click any input screen tab to return to tax data entry. UltraTax CS automatically calculates and transfers asset data to the appropriate tax forms.

Tips

  • Choose Tasks > Display Calculation when the Asset Detail dialog is open to view the depreciation calculations for the selected asset.
  • You can customize data-entry and calculation options for each client, including which columns to display in the Asset Detail dialog and which fields to automatically skip or duplicate.

After you enter asset information, UltraTax CS does the following:

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