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Onvio Fixed Assets will use the default cost entered in the Tax treatment as the default cost in the Book treatment. You may choose to have all the items in the Book treatment default to the values entered in the Tax treatment by following one of these two methods.

You can often eliminate unwanted Book\Tax difference adjustments on Schedule M-1 in 1120 and 1065 clients by making the Book treatment equal to the Tax treatment.

Method one:

This method copies the values you entered in the Tax treatment for all existing assets to the Book treatment, and as you enter values in Tax treatment for additional assets in the future, those values populate the Book treatment.

1. Open the Project.
2. Choose Settings, then the Treatments tab.
3. Select Book on the left.

   Note: If Book is not an available treatment on the left, select Add and create a Book treatment.

4. Mark the Make treatment equal to Tax checkbox, then click Yes.

Method two:

Method two will copy the Tax values into the Book treatment for all existing assets, but will not automatically populate the Book treatment with values entered in the Tax treatment when entering additional assets in the future.

1. Open the Project.
2. Choose Settings, then the Treatments tab.
3. Select Book on the left

   Note: If Book is not an available treatment on the left, select Add and create a Book treatment.

4. Select Build Treatment.
5. Select Replace all assets with the following treatment's values: and then select Tax.
6. Click Build.