Features of Fixed Assets CS

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Application features

  • Imports depreciation data from UltraTax CS.
  • Allows you to make automatic monthly, quarterly, or annual depreciation journal entries to Accounting CS and preserve journal entry detail.
  • Allows you to transfer summary depreciation amounts into UltraTax CS.
  • Exports data in ASCII, DIF, and XLS (Excel) formats for use by other applications.
  • Allows you to import fixed asset data using an ASCII file or XLS (Microsoft Excel) file.
  • Handles annual, quarterly, or monthly depreciation.
  • Handles up to three different prior fiscal year ends and short years.
  • Includes a "template" that enables quick setup for new clients, making any client-specific feature global. This feature is useful in setting up associations, treatments, data-entry options, calculation options, and print profiles. This feature also allows you to update existing client data with information from the template.
  • Allows you to combine the assets of multiple clients into a single asset file.
  • Accommodates asset trades and exchanges.
  • Allows disposal of multiple assets for one sale price.
  • Allows transfers of assets.
  • Allows you to maximize section 179 expense for a current-year asset.
  • Allows you to maximize start-up / organization expenditures expenses for current-year assets.
  • If you are licensed for FileCabinet CS, Fixed Assets CS can automatically back up client data to FileCabinet CS.
  • Allows you to link asset information using component assets, which are in turn summarized in an aggregate asset.
  • Recognizes limitations on luxury automobiles (passenger) and listed property, and limitations for section 179 expense amounts.
  • Allows you to optimize between actual costs and the standard mileage rate for 1040 clients in the year that a vehicle is acquired.
  • Supports optional whole-dollar rounding.
  • Includes Backup and Restore features that make it easy to archive and restore client data.
  • Custom report editor provides tremendous flexibility in creating new reports or modifying existing reports. Additional features include creating landscape and portrait layouts, varying the font, and creating calculated columns.
  • Allows you to create "profiles" for report and form sets you need to print frequently. Each profile can be customized for specific presentation criteria.
  • Allows you to acquire images that you can associate with an asset or assets.

Data-entry features

  • Includes options that allow you to customize data entry for each client.
  • Categorized "tabs" enhance the ease of asset data entry.
  • Replicates similar assets, if desired, to speed data entry.
  • Method/Life Wizard that automatically fills in the methods and lives for an asset based on the asset class chosen and the date placed in service.
  • Association Wizard that automatically fills in association fields based on a primary association that you set up.
  • Completes AMT, E&P, and/or ACE information automatically.
  • For treatments that are either derived from another treatment (like AMT) or set equal to another treatment, you can mass calculate and enter the treatment for all assets.
  • Allows you to recalculate prior depreciation for all assets.
  • Calculates ITC (Investment Tax Credit) automatically (when appropriate) as assets are entered into the application.
  • Contains built-in drop-down lists of selections in some fields to speed data entry.

Additional features


Depreciation methods


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