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Fixed Assets CS uses activities to categorize the assets related to a client's business or profession. All of the assets for a single activity are grouped within the related folder in the folders block of the Asset List window.
Each activity is identified by a unique combination of a form or schedule identifier (that is, the name of the folder) plus a unit number (from 1 to 250), so that you can easily distinguish among multiple units.
- Aggregate asset
- Assets for MACRS mid-quarter test
- Associations
- Bonus depreciation qualified asset
- Component assets
- Custom methods
- Custom reports
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The data sharing feature enables client notes to be shared between Fixed Assets CS, UltraTax CS, FileCabinet CS, and Practice CS if licensed for these applications.
In addition, if you are licensed for UltraTax CS, you can access data for Fixed Assets CS clients in the UltraTax asset module, and vice versa, provided the client IDs are identical in both applications.
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A dependent treatment calculates AMT, ACE, or E&P based on data entered for another treatment.
To set up dependent treatments, choose Setup > Treatments and click the Options button.
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A division identifies a business activity for a client with multiple business activities within one depreciable group. For example, Division One and Division Two can designate two businesses reported on Form 1120, Page 1.
(Maximum per client = 250)
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The folders that appear in the left side of the Asset List window are based on the open client's entity type. All of the assets for a single business activity are grouped within the related folder. For example, if the open client is an individual, the Business folder pertains to asset information for Schedule C, Part 2.
- To see the full name of any folder, rest the mouse pointer over the folder for a moment.
- To enter asset information for a different activity, click the relevant folder.
- Horizontal lines on a folder indicate that asset information has already been entered for that activity.
- To add a new asset for the selected activity, click the Add button. This opens a new record in the Asset Detail dialog.
- To modify information for an existing asset within the selected activity, click the asset to select it and then click the Modify button to open that item's record in the Asset Detail dialog.
- GO Zone/168(k) (force)
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A group identifies a collection of assets, which are normally defined to correspond to the client's general ledger asset accounts.
(Maximum per client = 65,000)
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A location identifies the physical site of an asset.
(Maximum per client = 65,000)
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A mass transfer is a means of recording the transfer of two or more assets to a different activity or to one of four associations within the same activity in a single transaction. Eligible associations include: cost center, department, division, and location.
Related topic: Transferring multiple asset simultaneously
- Multiple-unit activities
- Print profiles
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A property type identifies assets that are subject to a property tax, such as Automobiles, Furniture & Fixtures, Intangible Assets, and so forth. (Note that certain states, such as Ohio and Michigan, use asset types.)
(Maximum per client = 65,000)
- Section 179 eligible asset
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The Situs field in the Asset Detail dialog is used to enter the state in which the asset resides. The entry in the Situs field is used to determine which associations are needed for an UltraTax CS personal property tax (PPT) return. The needed association fields appear in blue.
The state postal code that is entered in the Setup > Activities dialog in Fixed Assets CS or in a multiple-unit activity's input screen in UltraTax CS is automatically assigned as the situs for all assets entered in that activity.
Assets which are not in a multiple-unit activity can be assigned to a situs using the Edit > Reassign Assets command. However, there is an exception for 1065 clients; Page 1 and COGS activities can assign a group of assets to a situs using Edit > Reassign Assets command.
Note that for 1065 clients, the Business and COGS folders are now multi-unit, enabling assets to be reassigned to a situs.
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Source treatments are used by dependent treatments to calculate AMT, ACE, or E&P. For example, in the Treatment Options dialog, you can choose to make the values for the Other treatment (dependent) derive AMT values from the State treatment (source).
To view a list of treatments that are dependent on a particular source treatment, choose Setup > Treatments, highlight the source treatment, and then click the Options button. The dependent treatments are listed in the upper right corner of the Treatment Options dialog.
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A standard report is a pre-defined report that is included in Fixed Assets CS. To view the categories for which Fixed Assets CS provides standard reports, see Report categories.
- Template
- UltraTax CS personal property tax return
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We issue user bulletins for our CS Professional Suite products for several reasons.
- To accompany the initial release to alert you to new enhancements and inform you of any issues about which you should be aware.
- To accompany updates to inform you of changes made to the application and any other relevant issues.
- To inform you of special issues regarding the application and how you can work around an issue pending the release of an update.
The User Bulletins window opens automatically the first time you start Fixed Assets CS after installing the application or after downloading and applying an update via CS Connect.
Related topic: Viewing and printing user bulletins
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We use the term "window" to describe a view that is minimizable and resizable.
We use the term "dialog" to describe a view that is not minimizable and that must be dismissed before you can exit or access any other command or window in Fixed Assets CS.
Fixed Assets CS
