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Fixed Assets

1. Fixed Assets 8 37 CHAPTER 8 File Maintenance Depreciation Tables 8 38 Column Data a Depreciation Tables Commands Edit Modes Other Help 2xtlmealmal2 lee oK Abandon Table ID M10P q Column Type 0 Recovery Period Max Values Description MACRS 1 Personal IB sw2 S Mid Yea Column No 0 0 Percent Maximum Percent Maximum Percent Maximum Percent Maximum 1 10 000 00 116 000 00 31 000 00 46 000 00 2 18 000 00 117 000 00 32 000 00 47 000 3 14 400 00 18 000 00 33 000 00 48 000 4 11 520 00 119 000 00 34 000 00 49 000 5 9 220 00 20 000 00 35 000 00 50 000 6 7 370 00 21 000 00 36 000 00 51 000 7 6 550 JO 22 000 00 37 000 52 000 8 6 550 23 000 00 38 000 53 000 9 6 560 10 124 000 00 39 000 54 000 10 6 550 JO 25 000 00 40 000 55 000 11 3 280 00 26 000 00 41 000 00 56 000 12 000 00 27 000 00 42 000 oo 57 000 13 000 00 28 000 00 43 000 00 58 000 14 000 00 29 000 00 44 000 00 59 000 15 000 00 30 000 00 45 000 00 60 000 Company H 10 23 2007 Terminal tooo OVR The column refers to the IRS depreciation tables For some tables the column number refers to the applicable recovery period For others it is the month placed in service Enter the number of the column with which you want to work Most column numbers are whole numbers for example 5 0 In some tables with half year conventions the decimal po
2. 2 Enter the range of tax classes you want to include in the report or leave the boxes blank to include all tax classes Fixed Assets 7 11 CHAPTER 7 Year End Credit Summary Report Inquiry 3 Enter the range of general ledger asset account numbers you want to include in the report or leave the boxes blank to include all account numbers The Inquiry F2 commandis only available if Fixed Assets interfaces with General Ledger 4 Enter the range of dates in which assets were placed in service that you want to include in the report or leave the boxes blank to include all dates 5 Enter the range of the three user defined location fields you want to include in the report or leave the boxes blank to include all fields The names of these three fields are determined by the LOCATxxx table The default descriptions are Plant Division and Department 6 Select the order in which you want to organize and subtotal the report 7 Select which type of assets you want to include in the report 8 Select the output device See Reports on page 1 27 for more information After the list is produced the Year End menu appears Credit Summary Report 5 upply Credit Surrary Report by Asset ID New Only Date Placed Depr 179 Adjusted Cost Depr Begin 179 Adjusted Applied Total Credits Method Period Base Cost Expense Base Cost Credits 03 31 2004 BOOK MOSP 1230 08 FEDTAX MOSP DO OTHER MOSP A M T SL 02 01 2007 BOOK SL
3. YTD depreciation cannot exceed annual depreciation The menu record for the application is not in the menu file or the menu file is missing Make sure that the application is properly installed and try again The amount in the YTD Depreciation field cannot exceed the amount in the Annual Depreciation field Either increase the annual depreciation or decrease the year to date depreciation Fixed Assets APPENDIX B Accelerated Cost Recovery System ACRS account accounting period accumulated depreciation taken accumulated eligible depreciation Fixed Assets Glossary The method prescribed by the IRS for calculating depreciation of most assets placed in service after 1980 but before 1987 The ACRS system is based on a four type property classification scheme with each property type subject to a fixed depreciation percentage for each year of the property s life See also MACRS A storage unit of financial data in accounting usually grouping related information under one account number or account ID A period of time in accounting used to provide distinct units of time you can work with For example you might want a report to include transactions done within a particular accounting period The portion of an asset s accumulated prior year depreciation that can be deducted from the owner s taxes Accumulated depreciation taken is based in part on the percentage of business use If an asset is used f
4. CHAPTER 8 Fixed Assets Tables Depreciation Tables Retire Assets Reinstate Assets Change Fields Fixed Assets 8 3 8 27 8 35 8 41 8 47 8 49 File Maintenance 8 1 Fixed Assets MM Use the Fixed Assets function to create and maintain your asset records An asset record contains all the information pertaining to an asset and its depreciation Each asset record is divided into four sections the master screen four subscreens General Information Valuation and Credits Depreciation and Documents Select Fixed Assets from the File Maintenance menu The master screen appears a Fixed Assets Salas Commands Edit Modes Other Help Z X t ha m a 2 lee OK Abandon Asset ID Ti 4 Suffix ID 4 Seq No 4 Description Automobile Grey LMC Tag No MY CAR Manufacturer LMC Status ACTIVE Model No 100 DX Plant Main Serial No 1234 4567 8901 Division Executive Acq Date 03 14 2004 Department Quantity 1 Do You Want to Maintain Enter Accept Next Asset Previous Asset Company H 10 2372007 Terminal Tooo ovr Use the master screen to select the asset you want to work with and the subscreens you want to access Fixed Assets 8 3 CHAPTER 8 File Maintenance Fixed Assets 8 4 Asset IDs To begin you must enter the asset ID Asset IDs are divided into three parts the first nine characters form the asset ID proper characters 10 through 13 form the suffix ID and
5. CHAPTER 8 Tracking Additions Separately You can track additions separately from the basic asset For example if you add a refrigerator to your existing delivery vehicle DELTRUCK_0001 you can label the refrigerator DELTRUCK_0001A thus grouping it with the truck in reports but making it possible to depreciate it separately Add an Asset If the asset suffix and sequence ID you enter is not in the FAMAxxx file the Copy From fields appear Asset ID UTOO7 a Copy From Asset ID ES Suffix ID 4 Suffix ID a Seq No 4 Seq No a If you do not want to copy information from another asset that is if you want to create a new asset press Enter to skip these fields If the asset you are adding is like an asset that is already in the file you can copy the information from the existing record If you enter an asset ID to copy this prompt appears when you press Enter at the Copy From Seq No field Copy dollars and dates too If you want to copy every field in the record select Yes or enter Y in text mode If you do not want to copy fields that store dates or dollar amounts select No or enter N in text mode Do You Want to Maintain If you are adding an asset you must enter information on all the subscreens see General Information Subscreen Valuation and Credits Subscreen Depreciation Subscreen and Documents later in this section Use the Proceed OK command to move on to the General Information subs
6. Screen Two EN Retire Assets telas Commands Edit Modes Other Help 2xe aa an 008 ok Abandon Asset ID COMPUTER 03 Description Computer Equipment BOOK FEDTAX OTHER AMT Base Cost 11021 00 11021 00 11021 00 11021 00 Depr Method Table SL SL SL SL Est Life Periods 36 36 36 36 Actual Life 57 57 57 57 Depr Begin Period 01 2006 01 2006 01 2006 01 2006 Depr End Period 12 2008 12 2008 12 2008 12 2008 Salvage Value 00 00 00 00 Other Bonus 00 00 00 00 179 Expense 5000 00 5000 00 5000 00 5000 00 Applied Credits 00 00 00 00 Accum Elig Depr 6021 00 6021 00 6021 00 6021 00 Accum Depr Taken 6021 00 6021 00 6021 00 6021 00 YTD Depreciation 00 00 00 00 Remain Depr Base 00 00 00 00 Depr Adjustment 00 00 00 00 Retire Asset Status Bar Company H 07 01 2010 Terminal T000 OVR The second screen is similar to the Depreciation subscreen see page 8 15 except that it is a view only screen A few fields that are not relevant to retired assets are absent The Actual Life field shows the difference between the asset s estimated depreciable life and its actual service life The Depr Adjustment field shows depreciation adjustments when assets are retired early If Fixed Assets is interfaced to General Ledger the depreciation adjustment will be posted to General Ledger upon completion of the Retire Assets process To change something on this screen use the Start Over PgUp command to g
7. 00 00 00 6518 60 6518 60 815 10 815 10 00 2166 30 SL NONE ion Automobile Grey LMC FEDTAX 11000 00 3 014 36 05 2004 04 2007 2007 1500 00 00 00 00 8142 86 6107 14 1357 14 1017 86 00 339 28 OTHER 11000 00 SYD a ala SL 3 05 2004 04 2007 2007 1500 00 00 00 00 8708 33 6531 25 791 67 593 75 00 197 92 AM T 11000 00 SL a 3 04 NONE 36 05 2004 04 2007 2007 00 00 00 00 9428 57 7071 43 1571 43 1178 57 00 392 86 Company H 10 23 2007 Terminal TODO OVR Acquisition Cost 11000 00 Adjusted Cost 11000 00 The Depreciation subscreen has four columns showing book federal tax other and alternative minimum tax A M T figures This screen operates somewhat like a spreadsheet you can move up or down within a column and enter information that is later used in depreciation calculations You can also move across columns keeping four sets of figures and comparing the results side by side To move from one column to the next use the Jump Tab command To move back to the first column use the Start over PgUp command To advance or move back through the fields in a column use the up and down arrow keys After you enter the current depreciation for one column the cursor moves to the Base Cost field in the next column If you add an asset record and have not used the Copy From function the entries in the column you just left are
8. 12 computing equipment 121 calculators 122 computers 1221 word processing computers B 7 APPENDIX B Glossary purge real property recapture of depreciation recapture of investment tax credit record recovery rehabilitation credit remaining life 1222 data processing computers 12221 peripherals 122211 printers 122212 terminals Note that the codes become more specific as more digits are used To remove from the system See also restore Land and in general anything erected on growing on or attached to land The reversal of a previously taken depreciation expense For example suppose a company uses a half year convention that takes no depreciation in the year of disposal If the company disposes of an asset after four months Fixed Assets will have posted four months worth of depreciation expense to the general ledger This amount must be recaptured since the convention stipulated that no depreciation was to be taken in the year of disposal The reversal of a previously taken investment tax credit If you retire an asset for which you have taken an investment tax credit before the end of its useful life you must recapture the surplus credit The surplus is calculated from the original investment credit taken multiplied by the appropriate percentage rate for the class of the property and the year of its useful life in which you disposed of it The percentages are listed under the recapture rule in IRS pub
9. 13077 66 3457 04 00 Total of 179 Listed Properties 00 00 00 Total of All 179 Properties 13077 66 3457 04 00 Depreciation Tax Report New MACRS Assets Schedule 7 Builders Supply Depreciation Tax Report New MACRS Assets Schedule Mo A Basis for Depr Depreciation Asset ID Description y Depreciation i Cony Method Deduction 5 year property COMPUTER 07 Color Monitor 7 year property OFFICE 07 Cubes 7639 54 5 year property COMPUTER 07 Corputer Equiprent 10552 26 7 26 Fixed Assets Depreciation Tax Report Year End CHAPTER 7 Depreciation Tax Report JCWAA Special Allowance Schedule Builders Supply Page 4 Depreciation Tax Report Special Allowance Schedule New GDS Assets F Mo Yr Date Placed Basis for Special Property Class Asset ID Description in Sve in Service Allowance Allowance TOTAL New Listed Properties with Tore than 50 business use Mo Yr Date Placed Bus Basis for Special Asset ID Description in Svc in Service Use Base Cost Allowance Allowance TOTAL D0 Depreciation Tax Report Other Depreciation Schedule 10 24 2007 Builders Supply Page 5 3 52 PM Depreciation Tax Report Other Depreciation Schedule Mo Yr Basis for Recov Depr Depreciation Asset ID Description in Sve Depreciation Per Method Deduction COMPUTER 06 2 Corputer Equiprent 10552 26 5 0 MOSQ4 3007 40 COMPUTER 06 1 Color Monitor 1276 44 5 0 MosQ1 248 90 OFFICE 06 1
10. 99 4 53 3 55 98 4 53 3 56 97 4 53 3 58 95 4 53 3 59 94 4 53 3 60 93 4 53 3 61 92 4 53 3 62 91 4 53 3 64 89 4 53 3 65 88 4 53 3 66 7 54 36 43 13 11 23 4 53 3 67 86 4 53 3 68 B5 4 53 3 70 B3 4 53 3 71 82 4 53 3 72 sl 4 53 3 73 30 4 53 3 75 sit 4 53 3 76 77 4 53 3 77 76 4 53 3 78 75 Retaining Principal 348 345 341 338 335 331 328 324 321 317 314 310 307 303 300 296 293 289 286 282 75 271 268 264 260 257 253 249 246 242 238 235 231 227 223 220 64 27 89 Page 1 Straight Line 12 90 Cutulative Interest 1 2 3 17 33 48 Fixed Assets 5 17 Trial Depreciation o M Use the Trial Depreciation function to forecast depreciation for proposed and existing assets to calculate depreciation for past periods that need to be adjusted and to compare the results of different depreciation strategies After you select the depreciation method and enter the numbers that affect the depreciable life and value of the asset the system produces a Trial Depreciation Schedule If you want to analyze different numbers you can change any of them and produce the schedule again Select Trial Depreciation from the Forecasting menu The Trial Depreciation screen appears A Trial Depreciation liz Commands Edit Modes Other Help 2xa neamuo 20 988 ok Abandon Trial Number 1 Copy From Asset ID a
11. Annual Depreciation 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 Fixed Assets Post Period Depreciation Te After you have computed and verified periodic depreciation use the Post Period Depreciation function to add the current depreciation to the year to date depreciation and reset the current depreciation to zero If Fixed Assets interfaces with General Ledger this function also updates the general ledger asset accounts with the sum of the amounts in the Current Depreciation field in the asset record and updates the GLURxxx Journal file The Book column is the only column that affects General Ledger Posting to General Ledger The following T accounts show what happens to the general ledger when you post depreciation Accumulated Depreciation Depr Acct Expense Acct Sa You specify these two account numbers on the Valuation and Credits subscreen of each asset record The other account number in each asset record GL asset account is not affected by this function The GL asset account is used for report selection and organization only When you post period depreciation both the post date and original transaction date are posted to the GLJRxxx file providing a detailed audit trail for journal entries Fixed Assets 4 11 CHAPTER 4 Period Work Post Period Depreciation Before You Post Before you post current depreciation make sure that you have done these things e Computed the peri
12. Fed Tax 4047 57 1637 21 654 39 654 39 4702 46 Other 3221 38 2463 40 1136 95 1136 95 4358 33 A M T 3410 87 2273 91 1136 96 1136 96 4547 83 KOMPUTER 04 1 Corputer Equiprent 153000 03 31 2004 1245 Main Financial Accounting 7 Book 5642 93 2282 54 913 01 913 01 6555 94 Fed Tax 5642 93 2282 54 913 01 913 01 6555 94 Other 4755 28 3170 19 1585 10 1585 10 6340 38 A M T 00 00 00 00 00 KOMPUTER 05 1 Portable Corputer 153000 06 02 2005 1245 Main Sales Booth Materials 2007 Book 2486 72 2295 45 918 18 918 18 3404 90 Fed Tax 2486 72 2295 45 918 18 918 18 3404 90 Other 1753 46 3028 71 956 43 956 43 2709 89 A M T 00 00 00 00 00 Fixed Assets 5 29 CHAPTER 6 Reports Additions Journal Retirements Journal Asset Value Report Fixed Assets 6 1 6 3 6 5 6 7 Reports Running Reports All reports are produced in the same way Use the instructions below to print a report modifying the procedure as necessary for the report you are printing For example if the screen for the report you want to print does not contain check box options ignore that step and continue to the next Follow these steps to print reports 6 1 CHAPTER 6 Reports Select the report you want to print from the Reports menu The selection screen for that report appears The Asset Value Report screen is shown below as an example f Asset Value Report lela Commands Edit Modes Other Help 2xt malma l ee ok Abandon As
13. Numbers 0 9 Uppercase letters A Z Lowercase letters a z Alphabetical rules are not intuitive when numbers are involved Numbers are sorted as if they were letters When comparing the first characters of several IDs the ID with the smallest first character is placed first in the list If the first character of the IDs is the same the second characters are compared and the ID with the smallest second character is placed first in the list This comparison is made for each character in the range of IDs until the IDs are clearly in alphabetical order If you use numbers for IDs pad them with zeros so that they are all the same length and numeric rules can hold true For example in alphabetical sorting ID 112 comes before ID 60 since anything that starts with 1 comes before anything that starts with 6 alphabetically If ID 60 were ID 000060 and ID 112 were ID 000112 ID 000060 would be listed first since 060 is less than 112 alphabetically and numerically When you assign IDs and codes establish a format that makes sense for your business and use it consistently The following suggestions may help e To prevent organization problems use zeros to make all IDs the same length If IDs are divided into more than one part the parts should be the same length in every ID Do not use spaces to divide IDs into more than one part For example use ACE 01 and ACE 11 instead of ACE 1 and ACE 11 or ACE 01 e Ifyou use letters in IDs use either
14. Press Enter to save the report as a PDF file in that directory Fixed Assets Reports Fixed Assets Introduction e CHAPTER 1 To save the report as a text file select File or enter F The data path set up for the workstation in the Preferences function appears If necessary enter a new data path or click the Browse button to navigate to the correct directory then enter the file name followed by the txt extension The file name plus extension that you enter must be less than 35 characters Press Enter to save the report in that directory Note To preserve spacing and formatting view text file reports with a fixed width or monospaced font Courier Letter Gothic or Lucida Console for example View the Report on Screen Text Screens Only If you use text screens you can view selected reports directly in the OSAS screen Keep in mind that this option displays the report one page at a time storing previously viewed pages in the workstation s memory Use the Preferences function on the Resource Manager User Setup menu to limit the number of screen pages you can view to conserve memory resources Follow these steps to view the report on screen 1 Enter S to select S creen 2 When available enter S if you want to view the report in standard width or C 1f you want to view it in compressed width 3 When the report appears press Enter to view the next page or Page Up to view previous pages 1 31 CHAPTER 1 Introd
15. you can have as few as one or as many as 52 accounting periods in a year You must type the period number press Enter and then type the year and press Enter again 8 17 CHAPTER 8 File Maintenance Field Depr End Period Curr Fiscal Year Salvage Value Fixed Assets Description After you enter the beginning accounting period and year the system uses the number of periods in the asset s estimated life see Recovery Period above that you entered to calculate the last period and year of depreciation The current fiscal year as determined by the ACPRDxxx table appears Enter the estimated salvage value the asset will have at the end of its useful life If you are using a table driven depreciation method a MACRS table and you enter a salvage value a message appears informing you that the amount is not used in the depreciation calculation Field 179 Expense Applied Credits 8 18 Description If you want to claim all or part of the cost of the asset as a Section 179 expense enter the amount to be expensed If you want to apply credits to this column enter the amount of credits to apply The total credits from the Credits field on the Valuation and Credits subscreen appears at the bottom of the screen Fixed Assets Fixed Assets File Maintenance CHAPTER 8 The total credits you entered on the Valuation and Credits subscreen is different from the applied credits you enter in this field
16. 3 25 PM Additions Journal by Asset ID Asset ID Description Acq Date Owned New Personal Tax Depr Tax Bus Acquisition Tag Nutber Qty Dt Placed Leased Used or Real Method Class Use Cost ASSET ID AUTO AUTO Autorobile Grey LMC 1 03 14 2004 OWNED USED PERSONAL SL 1245 75 11000 00 MY CAR 0571472004 AUTO 04 2 Auto Stereo Syster 1 03 31 2004 OWNED NEW PERSONAL MOSP 1245 100 1230 08 45127 03 31 2004 AUTO 07 Autorobile Tan LMC 1 02 01 2007 OWNED NEW PERSONAL MO3P 1245 30 35735 00 02 01 2007 TOTAL FOR ASSET ID AUTO 47965 08 ASSET ID BUILDING BUILDING Corporate Headquarters Bldg 1 04 11 2005 OWNED NEw REAL M27R 1250 100 197500 00 1234 Parklane Road 04 11 2005 TOTAL FOR ASSET ID BUILDING 197500 00 ASSET ID COMPUTER KOMPUTER 0001 Micro Corputer for Accounting 1 OWNED NEw PERSONAL SL 1245 100 6329 84 KOMPUTER 03 Corputer Equiprent 1 OWNED NEW PERSONAL SL 1245 100 11021 00 KOMPUTER 04 Portable Corputer 1 OWNED NEw PERSONAL MOSP 1245 100 5684 78 45139 KOMPUTER 04 1 Corputer Equiprent 1 03 31 2004 OWNED NEW PERSONAL MOSP 1245 100 7925 47 03 31 2004 KOMPUTER 05 1 Portable Corputer 1 06 02 2005 OWNED NEw PERSONAL MOSP 1245 100 4782 17 45256 06 02 2005 KOMPUTER 05 3 Corputer Equiprent 1 04 01 2005 OWNED NEw PERSONAL MOSP 1245 100 8810 12 04 01 2005 KOMPUTER 06 1 Color Monitor 1 OWNED NEw PERSONAL mosQi 1245 100 1276 44 45199 COMPUTER 06 2 Corputer Equiprent 1 OWNED NEw PERSONAL MOSQ4 1245 100 10552 26 Fixed Assets 6
17. 9 Tentative deduction Enter the staller of line 5 and line 8 10 Carryover of disallowed deduction fror prior year see instructions 11 Business incore lititation 12 Section 179 expense deduction Add lines 9 and 10 but do not enter tore than line 11 13 Carryover of disallowed deduction to next year Add lines 9 and 10 less line 12 13 Do not use Part II or Part III below for listed property Instead use part V Part II Special Depreciation Allowance and Other Depreciation Do not include listed property 14 Special allowance for qualified New York Liberty or Gulf Opportunity Zone property tether than listed property placed in service during the tax year see instructions 15 Property subject to Section 168 f 1 election E 16 Other depreciation including ACRS III MACRS Depreciation Do not include listed property see instructions Section A 17 MACRS deductions for assets placed in service in tax years beginning before 2007 18 Are you electing under section 168 1 4 to group any assets placed in service during the tax year into one or Tore asset accounts see instructions c Basis for depreciation e businessinvestrent use d Recovery Convention only see instructions period b Month and a Classification year placed in of property 3 year property 5 year property 7 year property 10 year property 15 year property 20 year property 25 year property Residential rental property i Nonresidential real p
18. End Maintenance function serves as a valuable backup and can help you maintain your audit trail After performing year end maintenance produce the Percent of Business Use Report 7 1 Depreciation Comparison Report MM The Depreciation Comparison Report shows the base costs depreciation methods accumulated and year to date depreciation and year to date difference for any two columns you select Use this report to compare depreciation amounts and methods Select Depreciation Comparison Report from the Year End menu The Depreciation Comparison Report screen appears a Depreciation Comparison Report Gmn Commands Edit Modes Other Help 2xt mealma l ee OK Abandon Print Asset ID sg a ee la FedTax Depr Method From Other TE AMT GL Asset Account From Thru vs Accum Depr Account From Book Thru FedTax Depr Exp Account From Other Thru AMT Date Placed From q Thru ec Print By Plant From Asset ID Thru Depreciation Method Division From 5 GL Asset Account Thru GL Accum Depr Account Department From GL Depr Exp Account Thru Location Company H 10 23 2007 Terminal To00 OVR Inquiry 1 Enter the range of asset IDs you want to include in the report or leave the boxes blank to include all asset IDs 2 Enter the range of depreciation methods you want to include in the report or leave the boxes blank to include all depreciation methods Fixed Assets 7 3 CHAPTER 7 Y
19. Enter the current fiscal year in all the columns The general ledger period is stored in the GL Period 1 13 box when you compute period depreciation When you create the table leave this box blank The book you chose to process when you compute period depreciation is stored in the Process box When you create the table leave this box blank 8 31 Tables CHAPTER 8 File Maintenance DPRTXxxx Table 8 32 The DPRTXxxx table stores the maximum dollar limitation and threshold cost for section 179 assets These values are used when you print the Depreciation Tax Report If you change the values when you print the report the new values you enter are stored in this table automatically When you enter the table ID the rest of the DPRTXxxx table appears a FATB Commands Edit Modes Other Help xalaes ma e ee 0 Abenden Table ID 5 a Description Depreciation Tax Table 2 Column Length 12 Type A v Number of Cols 2 Description Value MAX LIMIT 108000 THRESHHOLD 430000 Company H 10 23 2007 Terminal TODO OVR 1 Inthe Max Limit box enter the maximum amount of section 179 deduction you can claim For information see the IRS document Instructions for Form 4562 2 Inthe Threshold box enter the threshold cost of section 179 property before reduction in limitation For information see the IRS document Instructions for Form 4562 Fixed Assets Tables File Maintenance CHAP
20. File Cabinets FAX Machine Book Shelves walnut Desk Chairs Refrigerator Cubes Autotobile Grey LMC Auto Stereo Syster Autorobile Tan LMC p fr PRP a O pl pl pl pl pl pl pp Builders Supply Property Assesstent Schedule by State Personal New or GL Asset Account or Real PERSONAL PERSONAL PERSONAL PERSONAL PERSONAL PERSONAL PERSONAL PERSONAL PERSONAL PERSONAL PERSONAL PERSONAL PERSONAL PERSONAL PERSONAL PERSONAL PERSONAL PERSONAL PERSONAL PERSONAL PERSONAL PERSONAL Used 152000 152000 153000 153000 153000 153000 153000 153000 153000 153000 153000 153000 153000 153000 153000 153000 153000 154000 154000 154000 Assesstent Date 05 22 2007 12 01 2007 05715 2004 02 01 2007 PAGE 1 Assessed Bus value Use amp 00 100 00 100 00 100 00 100 00 100 00 100 00 100 00 100 00 100 1300 00 100 10552 00 100 00 100 00 100 00 100 00 100 00 100 00 100 8000 00 7 00 100 35000 00 30 54852 00 54852 00 7 17 Depreciation Tax Report oo MW The Depreciation Tax Report shows the listed assets on file the 179 expenses associated with assets placed in service during the specified tax year the Modified Accelerated Cost Recovery System MACRS depreciation for assets placed in service during the specified tax year the depreciation taken on nonlisted assets assets placed in service before the specified tax year the new GDS a
21. For example you can use the Maintenance command to add a new customer or item from within the Transactions function The Maintenance command is available when the Maintenance button appears on the toolbar Click the button or press F6 to open the File Maintenance function associated with that field and enter or edit a new master file record Address Mapping When you are working with a screen that contains an address you can use the Address Mapping command to view a map of that address This command combines address information with the URL and search variables in the Resource Manager Web Setup function and the Map Lookup ID in the Company Setup function to direct your web browser to a mapping website and generate the map Note Before you can view maps you must set up mapping website information in the Resource Manager Web Setup function select the Map Lookup ID to use in the Resource Manager Company Information function and enter the path to your workstation s web browser in the Resource Manager Defaults function Fixed Assets Navigating OSAS Introduction CHAPTER 1 Text Mode Fixed Assets The OSAS text mode is available on all operating systems If you use OSAS on an operating system that does not have graphical capabilities the text mode is the only mode available In text mode all screens are presented in an easy to use textual interface that you navigate through using keyboard commands Main Menu The text main menu i
22. No more years to depreciate Period depreciation is not computed Unable to execute program program Fixed Assets System Messages APPENDIX A You can use the sum of the years digits depreciation method only with assets whose depreciable life is measured in whole years You must convert the old data files before you switch to European format dates Use the Company Information function on the Resource Manager Company Setup menu to switch back to the American format dates and reconvert the data Assets can have either positive or negative value If you enter a positive acquisition cost subsequent values must be positive If you enter a negative acquisition cost subsequent values must be negative If you entered a positive or negative acquisition cost and saved the asset record you cannot change a positive cost to a negative cost or vice versa If you entered the cost in error you must delete the asset record and reenter it The amount you enter in the Prior Years field cannot exceed the depreciable life of the asset You must use the Compute Period Depreciation function before you can use the Print Period Depreciation or Post Period Depreciation functions The system cannot run the program you selected from the menu Make sure that the program that appears is present in the application s program directory and select the function again APPENDIX A System Messages Unable to load menu record menu from file
23. Other depreciation personal property personal property tax plant assets post program property class code Fixed Assets Glossary APPENDIX B Depreciation begins in the month of acquisition and ends in the month of retirement One of four sets of asset depreciation records provided by the Fixed Assets system Other records are normally kept for local tax purposes See also Book depreciation FedTax depreciation and A M T depreciation Machinery or equipment property that is not real estate See also real property Taxes imposed on real estate personal property or both Real estate taxes are calculated from assessed values and tax rates Personal property tax on such things as machinery equipment office furniture and vehicles is determined by cost figures summarized by type and age Tax ratios based on these criteria can be applied to the original cost or to the unrecovered cost depending on local rules Buildings machinery equipment land and natural resources See also fixed asset To transfer information from one place to another usually at the end of the day or at a distinct break in business A self contained list of executable code written and implemented to do a task Most programs are represented by a function on a menu See also function A code that systematically breaks down assets from general to more specific categories Here is an example 1 office furniture and equipment 11 desks
24. Period Depreciation 4 11 Fixed Assets Period Work Introduction Period work consists of computing checking and then posting depreciation to your assets You should perform period work at regular intervals Just how regularly you perform it depends on the depreciation methods you use and the number of periods in your fiscal year The functions in this chapter explain the entire cycle of calculation assessment and posting of depreciation 4 1 Compute Period Depreciation MM Use the Compute Period Depreciation function to calculate the depreciation of active assets The depreciation methods you use and the number of periods in your fiscal year determine whether you should calculate and post depreciation at the end of every accounting period You can calculate depreciation for any combination of columns and for the current period or for a range of periods in the current year For example you can calculate and post the Book column depreciation at the end of every accounting period to keep the general ledger current but wait until the end of the year to calculate the FedTax column depreciation How Period Depreciation Is Calculated When you set up an asset you define its value and the depreciation method When you run the Year End Maintenance function the system uses the information you entered to calculate the annual depreciation for the next year The Compute Period Depreciation function divides the annual depreciati
25. Schedule if you elected to produce it Use the 179 Expenses Schedule as a resource when filling out Part I of IRS Form 4562 New MACRS Assets Schedule This section of the report shows the MACRS depreciation for assets placed in service during the specified tax year It is organized in order of depreciable life of the property Use the New MACRS Assets Schedule as a resource when filling out Part III of IRS Form 4562 JCWAA Special Allowance Schedule This section of the report shows General Depreciation System GDS and Listed Assets placed in service during the tax year and any special depreciation allowance claimed for those assets under the JCWAA Use the JCWAA Special Allowance Schedule as a resource when filling out Part II of IRS Form 4562 In both sections of the schedule New GDS Assets and New Listed Properties with more than 50 business use the Basis for Allowance is calculated as Base Cost Salvage Value 179 Expense Applied Credits Other Depreciation Schedule This section of the report shows the depreciation taken on nonlisted assets and assets placed in service before the specified tax year Use the Other Depreciation Schedule as a resource when filling out Part II of IRS Form 4562 Tax Form 4562 Summary This section of the report is a summary of IRS Form 4562 Use the Tax Form 4562 Summary as a resource when filling out Parts I IV and Part V Section A of IRS Form 4562 Fixed Assets Depreciation Tax Rep
26. T Tables depreciation tables 8 35 function 8 27 LOCATxxx 8 33 LOCATxxx screen 8 33 screen 8 28 TAXDTxxx 8 34 TAXDTxxx screen 8 34 tables 3 6 ACPRDxxx 3 7 3 8 3 9 4 4 4 5 4 8 5 6 5 21 7 31 8 16 8 18 8 30 CNVTxxx 4 5 depreciation tables 3 7 DPRTXxxx 3 7 8 32 LOCATxxx 3 7 7 4 7 10 7 12 8 12 OPTxxx 8 28 TAXDTxxx 3 7 7 15 8 12 Tables List function 9 7 list 9 8 Tax Form 4562 Summary 7 20 7 22 notes on line calculations 7 24 report 7 28 TAXDTxxx table 3 7 7 15 8 12 8 34 screen 8 34 text mode command line 1 25 commands 1 24 Fixed Assets User s Manual flags 1 24 function screens 1 22 main menu 1 21 messages 1 25 toolbars 1 19 function screens 1 19 main menu 1 19 tracking additions separately 8 5 Trial Depreciation function 1 4 5 19 JCWAA special allowance 5 23 V Valuation and Credits subscreen 3 9 4 8 8 13 8 18 8 21 8 43 function 4 11 Valuations and Credits subscreen screen 8 13 W workstation date 1 11 Y Year End 179 Expenses Schedule 7 20 after year end 7 33 Credit Recapture Report 7 13 Credit Summary Report 7 11 Depreciation Comparison Report 7 3 Depreciation Summary Report 7 9 Depreciation Tax Report 7 19 Gains and Losses Report 7 7 Listed Assets Schedule 7 19 menu 1 5 New MACRS Assets Schedule 7 20 Other Depreciation Schedule 7 20 Percent of Business Use Report 7 35 Property Assessment Schedule 7 15 Tax Form
27. a Line No 000001 of 000002 Enter edit l Append l View Open document Next screen Prev Screen Go to Company H 10 23 2007 Terminal Tooo OVR Select a command Press P to move to the previous screen Press N to move to the next screen Press G to move directly to a different document Then enter the document name or exit to the Documents screen This command appears only if you have more than one screen of attached documents Attach a Document To attach a document to a customer record follow these steps 8 23 CHAPTER 8 File Maintenance Fixed Assets 8 24 Click Append or enter A to attach a document The Append Documents dialog box appears EN Append Documents lelak Commands Edit Modes Other Help zxe ee ma z e ee OK Abandon Document Forecast xls Path C Forecast Documents las Description Forecasting Spreadsheet Enter the document file name and extension the full file path and a description of the file you want to attach to the master file record You can use the DocumentShare directory as specified in the Resource Manager Directories function to simplify entering document information To use this directory make sure all users have access to the DocumentShare directory then store document attachments in that directory When you enter document information in the Append Documents screen enter DOC in the Path field remember to include the
28. all uppercase or all lowercase letters so that the IDs can be sorted correctly Fixed Assets Fixed Assets Setup CHAPTER 3 Use descriptive IDs For example WIN001 and WIN002 are more descriptive IDs than 000001 and 000002 If you already use a numbered system you might want to stick with it If you want to sort items by a particular attribute name or group put the attribute in the ID For example if you purchase two nearly identical drill presses you can label them DRILLPRES0001 and DRILLPRES0002 differentiating them by suffix ID To ensure that you can insert new items into a sequence use a combination of letters and numbers that leaves room in the sequence for later additions For example setting up two consecutive IDs of WINO01 and WINOOS leaves room for three items in between 3 3 Setup Checklist and Functions o M Follow the steps in the checklist below to set up the Fixed Assets system Each step is explained in this section Set up the options and interfaces Build the tables Build the depreciation tables Build the FAMAxxx Fixed Assets file Set up roles Set up a backup schedule ON Ge Go or Options and Interfaces An application can be interfaced to work in conjunction with other applications Fixed Assets can be interfaced with General Ledger If you interface Fixed Assets with General Ledger the account numbers you enter in the asset records must be set up in the GLMAxxx General Le
29. best combination of down payments and monthly payments for a loan The Trial Depreciation function helps you determine which method of depreciation best suits your needs Reports Fixed Assets offers three reports that summarize information from files e The Additions Journal contains the asset acquisition data you entered in the Fixed Assets function Use this journal to review asset acquisition and valuation information 1 4 Fixed Assets The Fixed Assets System Introduction e CHAPTER 1 The Retirements Journal shows the reason for retirement retirement code estimated depreciable and actual depreciable life and base and depreciation costs retired for the retired items you select Use this information to analyze the depreciation of items that have been retired but not deleted e The Asset Value Report shows the book assessed insured and at risk value of each asset Use it to review the individual or net value of your assets and to evaluate your insurance coverage Use the Reports functions as often as necessary to produce summarized information about assets statuses values and so forth Any single report can be valuable as you need it combined reports can be invaluable when you want to detect trends in your business s financial situation that a single function or report could not show Year End After doing a year s worth of period work use the Year End functions to produce a number of useful reports to update the F
30. character 14 is the sequence number DRILLPRES0001 A Asset ID zZ Suffix ID Sequence Number You can enter an asset ID in these ways Enter all 14 characters in the Asset ID field The system automatically separates the first nine characters and displays them in the Asset ID field Characters 10 through 13 appear in the Suffix ID field and the last character appears in the Seq No field If the asset ID proper contains fewer than nine characters use the space bar to account for unused characters For example if the full asset ID is AUTO872 where AUTO is the asset ID 87 is the suffix ID and 2 is the sequence number you must type five blank spaces after AUTO before you type 87 and then type two blank spaces before you type 2 This sequence ensures that the system reads the asset ID correctly When you press Enter each segment of the asset ID appears in its appropriate field Type the asset ID proper in the Asset ID field Then press Enter and type the suffix ID in the Suffix ID field Then press Enter and type the sequence number in the Seq No field This method eliminates the need for entering blank spaces to compensate for unused characters Grouping Similar Assets You can group similar assets together for reporting purposes For example if you purchase two nearly identical drill presses you can label them DRILLPRES0001 and DRILLPRES0002 differentiating them by suffix ID Fixed Assets Fixed Assets File Maintenance
31. clear the Current Depreciation field 8 42 Fixed Assets Retire Assets Fixed Assets File Maintenance CHAPTER 8 The credit fields Acquisition Date Acquisition Cost Adjusted Cost Active Quantity Credits Description and Total Credits display the credit value taken when you acquired the asset as recorded on the Valuation and Credits subscreen If you took credits when you acquired the asset and are retiring the asset before the end of its estimated depreciable life you may need to recapture a prorated share of the credits Consult your accountant or the IRS to determine if you are required to recapture credits Then produce the Credit Recapture Report to clear the Current Depreciation field Enter the reason you are retiring the asset The Retirement Code box is user defined For example you might enter S if you plan to see the asset D if you plan to donate it to a school or charity Enter the date you retired the asset in the Retirement Date box The system copies this date to the Retirement Date field in the asset record Enter the quantity of the asset you want to retire in the Retirement Quantity box You can retire part or all of the asset For example if the original asset quantity was 4 you can enter 1 to retire one unit of the asset If you retire part of a multiple unit asset the asset status does not switch to retired until the entire dollar value of the asset is retired The adjusted cost times the ret
32. company ID 3 A set of tables comes with the sample company Builders Supply You can copy the sample tables for a company and then change the appropriate fields To copy a sample table enter the table ID 4 Press Enter to accept the default description of the table or enter a different description 8 28 Fixed Assets Tables Fixed Assets File Maintenance CHAPTER 8 The number of columns in the table appears in the Number of Cols field 1 77 The length of the columns in the table appears in the Column Length field 1 77 The type of characters you can enter in the table appear alphanumeric A numbers with two decimal places N numbers with three decimal places 3 or numbers with four decimal places 4 Although you can change the type the software requires that the table contain the correct type of data 8 29 CHAPTER 8 File Maintenance Tables ACPRDxxx Table 8 30 The ACPRDxxx table stores the fiscal year and accounting period definitions for the book federal tax other tax and alternative minimum tax A M T values The ACPRDxxx table is the only Fixed Assets table you must set up for each company in the system If you are setting up the ACPRDxxx table at the beginning of the fiscal year or if you plan to set initial balances by computing and posting period depreciation see page 3 8 enter 0 in the This Year Begin Period Ending Period GL Period and Process fields If you are settin
33. copied to the next column If you are changing an asset record your changes are not copied 8 15 CHAPTER 8 File Maintenance Fixed Assets The asset ID with suffix ID and sequence number if any you entered on the Fixed Assets master screen and the description you entered on the General Information subscreen appear Field Base Cost Inquiy Depr Meth Table Inquiry Recovery Period 8 16 Description Press Enter to use the adjusted cost you entered on the General Information subscreen or enter a different base cost of the asset to use in the depreciation calculations The acquisition cost and adjusted cost appear at the bottom of the screen for your reference Enter the code for the method of calculating depreciation you want to use or enter the ID of the table containing the table driven depreciation method you want to use For more information about depreciation table names refer to the Depreciation Tables function page 8 35 Use one of these valid codes for calculated depreciation None Calculate no depreciation for this column SL Straight line SLACRS Straight line ACRS SYD Sum of the years digits xxxDB Declining balance where xxx is a percentage between 000 and 999 Enter the number of years in the asset s depreciable life The system uses this number and the information in the ACPRDxxx table to calculate the number of periods in the estimated life of the asset see below
34. depreciation on the asset in previous years enter the total actual depreciation you took at the end of the last fiscal year This number should reflect your percentage of business use If you took depreciation in previous years enter the number of years the asset has been depreciated It cannot exceed the estimated life of the asset Fixed Assets Trial Depreciation Fixed Assets Field Print by Period or Year Print Year From Thru Forecasting CHAPTER 5 Description Enter P to print the Trial Depreciation Schedule by period or select the box or enter Y to print the yearly figures only The system fills these fields based on what you entered in the Depreciation Begin Period and Depreciation End Period fields To produce the Trial Depreciation for one year enter the year at both From and Thru To list a range of years enter the first year at From and the last year at Thru To produce the Trial Depreciation Schedule for the life of the asset press Enter at both From and Thru Select the output device to begin printing the report See Reports on page 1 27 for more information After the schedule is generated the Trial Depreciation screen appears and the Trial Number field is incremented by one Because your entries are preserved you can change a few numbers and produce another Trial Depreciation Schedule When you are finished exit to the Forecasting menu 5 25 CHAPTER 5 Forecasting Trial Depreci
35. does not delete the file from its storage location After you finish working with the Documents screen you are returned to the Fixed Assets master screen 8 25 Tables o M Use the Tables function to set up and maintain the Fixed Assets tables Tables store information about the system data options and other applications like Report Writer The following tables are related to Fixed Assets e ACPRDxxx e DPRTXxxx e JCWAAx e LOCATxxx e TAXDTxxx For more information about each of these tables see their individual descriptions in this section Fixed Assets 8 27 CHAPTER 8 File Maintenance Tables Select Tables from the File Maintenance menu A blank tables screen appears f FATB hE Commands Edit Modes Other Help 2xaaemo l e ee 05 Abandon Table ID a Description Number of Cols Column Length Type Company H 1072372007 Terminal T000 OvR Inquiry 1 To add or change a table enter the table ID To set up a company specific table enter the table ID plus the one to three character company ID To delete the table use the Delete F3 command The OPTxxx Options table stores options and interfaces settings Maintain the information stored in this table through Resource Manager Options and Interfaces function not through the table itself 2 If you entered a new ID the Copy From field appears To copy a company specific table enter the table ID plus the three character
36. enter functions and move around function screens When a list of commands appears at the bottom of a function screen press the highlighted letter to use acommand These methods also work in graphical mode or you can use the mouse to click on fields and command buttons Graphical Mode If you re familiar with other graphical software programs you ll find it easy to navigate around the OSAS graphical mode which uses buttons toolbars text entry boxes and menus to help you move through your tasks Fixed Assets 1 13 CHAPTER 1 Introduction Graphical Main Menu Navigating OSAS Main Menu If you use BBj in graphical mode the main menu is available in two flavors graphical and MDI To switch between the two styles press Shift F5 If you use Visual PRO 5 the graphical main menu is the only graphical menu available The graphical main menu is shown below EEN T000 OPEN SYSTEMS R Accounting Software fo Es File Views Tools Favorites Other User Help Oe Ma HS H Builders Supply X OSAS MainMenu Bank Reconciliation Transactions Bills of Materials Kitting Reconciliation Void and Stop Payments Fixed Assets Productivity Reports BR Journal General Ledger File Maintenance Bank Account Register General Report Writer Master File Lists Post Transactions Inventory Job Cost Payroll with Direct Deposit Purchase Order with Landed Cost Resource Manager Sales Order Company H Terminal T000 10 12 201
37. file 1 6 1 7 differences between versions of OSAS 1 6 federal tax class 8 8 file interaction 1 6 File Maintenance Depreciation Tables function 8 35 Fixed Assets function 8 3 menu 1 4 Retire Assets function 8 41 Tables function 8 27 files backing up 3 10 Fixed Assets User s Manual FAMAxxx 3 5 3 8 5 20 8 5 8 6 FARJxxx 1 6 8 41 FATAX 1 6 GLMAxxx 3 5 8 14 Fixed Assets adding an asset 8 5 adjusted cost 8 11 and Retire Assets 8 42 application interaction 1 3 asset ID 8 4 before you install 2 1 changing an asset 8 6 converting to version 7 0 2 4 defined 1 1 1 3 deleting an asset 8 6 Depreciation subscreen 3 9 8 14 8 15 Depreciation subscreen screen 8 15 depreciation tables 3 7 8 35 FAMAxxx file 1 5 file interaction 1 6 function 1 5 3 8 3 9 6 3 8 3 9 5 General Information subscreen 3 9 8 7 8 17 8 33 8 34 generating initial depreciation values 3 8 grouping similar assets 8 4 installation 2 1 installing new version before converting 2 3 interfaced to General Ledger 3 6 interfaced with General Ledger 1 3 3 5 4 3 4 11 7 4 7 8 7 10 7 12 7 14 7 16 7 36 8 14 8 21 JCWAA special allowance 8 11 menu structure 1 4 section 179 expense 8 18 sequence number 8 4 setting up 3 8 setup checklist 3 5 setup considerations 2 4 suffix ID 8 4 system requirements 2 1 tables 3 6 8 27 tracking additions separately 8 5 Valuation and
38. fiscal year times the number of periods processed since the last post times the percentage of business use When you post depreciation on page 4 11 the amount in the Current Depreciation field is added to the YTD Depreciation field and the Current Depreciation field is reset to zero After year end processing the amount in the YTD Depreciation field is added to the Accumulated Depreciation Taken field the YTD Depreciation field is reset to zero and the annual depreciation for next year is calculated 4 8 Fixed Assets Print Period Depreciation Period Depreciation Journal Period Work CHAPTER 4 10 24 2007 2 12 PM Processed Current Fiscal Year Nurber of Periods in Fiscal Year Nurber of Periods Processed This Year Beginning Period to Process Now Ending Period to Process Now Post Depreciation to GL Period Asset ID Description Depr Depr Est Base Colutn Method Begin Life Cost GL Asset Account 151000 LAND 10 Acres Corporate Site NONE 36 45000 00 FEDTAX NONE 36 45000 00 OTHER NONE 36 45000 00 A M T NONE 36 45000 00 TOTAL FOR GL ASSET ACCOUNT 151000 45000 00 45000 00 45000 00 45000 00 Builders Supply Period Depreciation By GL Asset Account BOOK FEDTAX OTHER 2005 2005 2005 12 12 12 9 9 9 10 10 10 10 10 10 10 Year to Date Depreciation Accutulated Depreciation 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 Page i AMAT 2005 12 9 10 10 Current Depreciation
39. for the asset 3 Enter the accumulated nondepreciable costs or expenses related to the asset 4 Enter the amount of the sales or use taxes related to the asset Inquiry 5 Enter the numbers of the general ledger asset accumulated depreciation and depreciation expense accounts related to the asset The Inquiry F2 command is available only if Fixed Assets interfaces with General Ledger If Fixed Assets interfaces with General Ledger the system verifies that the account numbers are valid and displays the account descriptions from the GLMAxxx file When you save the Valuations and Credits screen the next screen you selected appears If you did not select another screen the Fixed Assets screen appears 8 14 Fixed Assets Fixed Assets Depreciation Fixed Assets Use the Depreciation subscreen to record the information the asset depreciation calculations are based on and the results of the calculations File Maintenance CHAPTER 8 A Depreciation Commands Edit Modes Other Help eX ta elmua e es OK Abandon Asset ID Base Cost Depr Meth Table Recovery Period Switch to Method Est Life Periods Depr Begin Period Depr End Period Curr Fiscal Year Salvage Value 179 Expense Applied Credits Other Bonus Accum Elig Depr Accum Depr Taken Annual Depr YTD Depr Curr Depr Remain Depr Base AUTO Descripti BOOK 11000 00 Mo3P a 3 0 8 NONE 36 05 2004 05 2007 2007 1500 00
40. method you can enter SL straight line If you selected the declining balance xxxDB method you can enter SYD or SL If you are using a depreciation method other than sum of the years digits or declining balance you cannot enter anything Enter the number of accounting periods in the estimated life of the asset The estimated life based on the recovery period and the ACPRDxxx table appears at the bottom of the screen Fixed Assets Forecasting CHAPTER 5 Field Description Depreciation Begin Enter the accounting period and year you want to Period pd yyyy begin depreciating the asset The date the asset was placed in service which you entered on the first Lease vs Buy Analysis screen appears at the bottom of the screen This is not a date field Depending on the period system you use you can have as few as one or as many as 52 accounting periods in a year You must type the period number press Enter and then type the year and press Enter again Field Description Depreciation End After you enter the beginning accounting period and Period year the system uses the number of periods in the asset s estimated life that you entered to calculate the last period and year of depreciation Salvage Value Enter the estimated salvage value the asset will have at the end of its useful life 179 Expense If you want to claim all or part of the cost of the asset as a Section 179 expense enter the amount to be expensed A
41. on how to use the functions on the Information menu The Favorites menu gives you quick access to the OSAS functions you use most by allowing you to add selections for entire menus or particular functions to a custom menu After you ve set up the menu select Change to Favorites from the graphical Favorites menu or press F2 to access the functions The Favorites menu saves you time by eliminating the need to switch between applications You can add functions from several different applications to the Favorites menu and access them all there rather than switching between applications on the main menu to access the functions you need To add a function to the Favorites menu select the function you want to add and press F10 Press F2 to switch to the Favorites menu to confirm that your selection was added To remove a function from the menu select the function on the Favorites menu that you want to remove and press F10 again Fixed Assets Navigating OSAS Introduction CHAPTER 1 Toolbars As with menus graphical screens also contain toolbars that give you fast access to the most frequently used OSAS commands The toolbar for the main menu differs slightly from that of function screens Main Menu The toolbar for the main menu is shown below Click a button to access that Toolbar command Workstation Command Calendar Toggle Date Help Favorites Ge 7830 en N Application Calculator Call a BBj Pro5 Ver
42. parenthesis When you use this convention with the Open command to open an attachment OSAS automatically replaces the DOC variable with the appropriate path and opens the attachment from that directory If you do not store the file in the DocumentShare directory do not use the DOC variable Instead enter the full file path in the Path field OSAS will not be able to locate the file to open it if you enter an incorrect path Use the Proceed OK command to attach the file Edit Attached Document File Information To edit file information about attached documents select the document and then press Enter Edit the file information in the Edit Documents dialog box then use the Proceed OK command to save your changes Fixed Assets Fixed Assets Fixed Assets File Maintenance CHAPTER 8 To view the file information about attached documents select the document and then select View or press V in text mode The View Documents dialog box appears Press any key to exit To edit the document itself select Open Document or press O in text mode to launch the appropriate application and open the file Delete Attached Documents To remove a document attachment select the attached document you want to delete and press F3 When the confirmation message appears press Y to delete the attachment or N to return to the Documents screen Keep in mind that this procedure only removes the attachment from the master file record it
43. run these functions Fixed Assets Setup Checklist and Functions Setup CHAPTER 3 e Compute Period Depreciation e Post Period Depreciation e Year End Maintenance e Retire Assets Depreciation Tables After you complete the Fixed Assets installation back up the FATAX Depreciation Tables file in your data path This file is copied when you install Fixed Assets In the future if the FATAX file becomes corrupted for any reason you can simply restore it from the backup Backing up Programs Once a month or so back up your programs Although these files do not change diskettes can be damaged or deteriorate so it pays to have a fresh copy in storage in case you need it Diskettes Keep more than one set of backups in case one set is bad or damaged Rotate the sets of backup diskettes keeping one set off site Use Resource Manager Use the Backup function on the Resource Manager Data File Maintenance menu to back up files You must back up all the files in the data path for a particular list of companies at once to ensure that you have up to date copies of the system files Do not try to use operating system commands to back up only a few files that have changed if you do your system may not work after you restore them The Backup function backs up all the data files for a specified company in a data path at one time Fixed Assets 3 11 CHAPTER 4 Compute Period Depreciation 4 3 Print Period Depreciation 4 7 Post
44. screen Greater of line 3 minus line 2 or zero 5 Greater of line 4 minus line 1 or zero PO Fixed Assets Depreciation Tax Report Year End CHAPTER 7 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 Fixed Assets If there are more than two 179 expensed nonlisted assets See 179 Expense Schedule is printed along with the total 179 expense amount if not the assets and their expenses are listed Total 179 expense from Listed Assets Schedule Sum of line 6 c and line 7 Lesser of line 5 or line 8 Prior year disallowed deductions from function screen Lesser of Tax Year Taxable Income from the function screen or line 5 Lesser of the sum of lines 9 and 10 or line 11 Line 9 plus line 10 minus line 12 Totals of each property class from New MACRS Assets Schedule Not used by Fixed Assets system leave blank Total from Other Depreciation Schedule MACRS only Not used by Fixed Assets system zero Total from Other Depreciation Schedule SL SYD xxDB ACRS Total depreciation deductions from Listed Assets Schedule Sum of lines 12 14 column g 15 column g 16 17 18 and 19 Not used by Fixed Assets system zero a Do you have evidence to support business investment use claimed from function screen b Is evidence written from function screen If more than three listed assets are placed in service during the tax year with 51 percent or greater business use See L
45. tax district description field blank the unlabeled field continues to appear on screens where it is used When you enter the table ID the rest of the TAXDTxxx table appears a FATB als Commands Edit Modes Other Help 2xt mealma se OK Abandon Table ID AX 4 Description Tax Districts table Number of Cols 2 Column Length 12 Type A v Location Description TAX DIST 1 State TAX DIST 2 County TAX DIST 3 City Company H 10 23 2007 Terminal T000 OVR Enter the names you want to use for tax district fields If you leave a tax district description blank the unlabeled field that is a field with no name continues to appear on screens where it is used 8 34 Fixed Assets Depreciation Tables o MM The Fixed Assets system makes extensive use of tables supplied by the IRS to calculate depreciation Use the Depreciation Tables function to add to or revise these tables All the established current depreciation tables and selected tables from earlier years are provided with the Fixed Assets system However since tax laws change frequently you may need to add or change depreciation tables before you begin Fixed Assets processing Consult your accountant to determine if you need to change these tables or add tables before you begin Fixed Assets processing Depreciation tables are shared by all the companies on your system Fixed Assets 8 35 CHAPTER 8 File Maintenance Depreciati
46. the number of years you want the analysis to cover Press Enter to place the asset in service on the default date or enter the date you plan to place the asset in service Enter your effective income tax rate Enter the incremental borrowing rate that is your cost of capital Enter the compounded investment rate that is the rate of return you could expect if you invested capital instead of buying assets Enter the discount rate that is your internal rate of return or opportunity cost CHAPTER 5 Forecasting Lease Type of Lease Prepayment Payment Amount Number of Payments Payments per Year Number of 1st Year Payments Credit to Take Expenses Buy Cash Price Credit to Take Expenses JCWAA Percent For an operating lease enter O For a capital lease enter C Enter the lease prepayment if one is required Enter the regular lease payment Enter the number of payments you will make during the life of the lease Enter the number of payments you will make in a normal year Enter the number of payments you will make in the first year of the lease Enter the net investment or tax credits you can take on the lease Enter the net expenses involved in leasing the asset Enter the total cash price of the asset Enter the investment or tax credit you can deduct from the depreciable base if you purchase the asset Enter the net expenses involved in buying the asset Enter the pe
47. to include all asset IDs Fixed Assets 7 35 CHAPTER 7 Year End un Percent of Business Use Report Enter the range of general ledger asset account numbers you want to include in the report or leave the boxes blank to include all account numbers The Inquiry F2 command is only available if Fixed Assets interfaces with General Ledger 3 Enter the range of business use percentages you want to include in the report or leave the boxes blank to include all percentages 4 Select the status of the assets you want to include in the report 5 Select the output device to begin printing the report See Reports on page 1 27 for more information After the list is produced the Year End menu appears Percent of Business Use Report Description GL ASSET ACCOUNT 151000 BUILDING 100 BOOK Corporate Headquarters Bldg FEDTAX OTHER A M T LAND BOOK 10 Acres Corporate Site FEDTAX OTHER A M T TOTAL FOR GL ASSET ACCOUNT 151000 GL ASSET ACCOUNT 152000 OFFICE 03 office Equiprent OFFICE 04 office Equiprent TOTAL FOR GL ASSET ACCOUNT 152000 7 36 Beg Per Life Method Builders Supply Page Percent of Business Use Report by GL Asset Account Accutulated Annual Depr Taken Depreciation Accutulated Elig Depr Depr Est Depr Base Cost 04 2005 197500 04 2005 197500 04 2005 197500 04 2005 197500 45000 45000 45000 242500 242500 242500 242500 Fixed Assets
48. to include in the report or leave the boxes blank to include all dates 5 Select the order in which you want to organize and subtotal the report 6 Select the output device to begin printing the report See Reports on page 1 27 for more information After the list is produced the Year End menu appears Credit Recapture Report 10 24 2007 3 48 PM Asset ID ASSET ID COMPUTER COMPUTER 0001 01 TOTAL FOR ASSET ID ASSET ID CRANE CRANE 0001 01 TOTAL FOR ASSET ID ASSET ID DRILL DRILL 0001 01 TOTAL FOR ASSET ID ASSET ID FORKLIFT FORKLIFT 0001 01 TOTAL FOR ASSET ID ASSET ID LATHE LATHE 0001 01 TOTAL FOR ASSET ID ASSET ID PLANER PLANER 0001 01 TOTAL FOR ASSET ID ASSET ID Saw SAW 0001 01 TOTAL FOR ASSET ID Description Micro Corputer for Accounting COMPUTER Cranes Derricks CRANE Drill Press DRILL Forklifts FORKLIFT Lathes LATHE Planers Sanders PLANER Power Saws SAW Builders Supply Credit Recapture Report by Asset Est Life 36 120 120 120 120 120 120 ID FEDTAX Act Periods Life Early 36 0 120 0 120 0 120 0 120 0 120 0 120 0 Total Credits Retired of Life Unused 00 00 00 00 00 00 00 Page 1 Arount Recaptured 7 14 Fixed Assets Property Assessment Schedule o M Fixed Assets The Property Assessment Schedule shows the assessm
49. whether you own or lease the asset Enter N or U to indicate whether the asset is new or used Enter the date the asset was acquired 8 9 CHAPTER 8 File Maintenance Fixed Assets Field Description Date Placed in Enter the date you placed the asset in service You Service cannot begin depreciating an asset until you have placed it in service When you enter an asset it keeps its new status until you enter the date it was placed in service Then the asset status changes to active Once you have activated an asset you cannot leave this field blank nor can you restore the asset s new status If you are using a non MACRS depreciation method or an ACRS table that lets you use a half year convention do not enter the actual date the asset was placed in service Instead enter January 1 if the asset was placed in service in the first half of the year or July 1 if it was placed in service in the second half of the year Likewise if you want to use a quarter year convention enter either January 1 April 1 July 1 or October 1 Half year quarter year and other conventions are built into the MACRS tables If you are using a MACRS table enter the actual date the asset was placed in service Field Description Date of Last If you are entering an asset record enter the date the Adjustment asset was acquired If you are adjusting the value of an asset enter the date you entered the adjustment Retirement Date If the as
50. year It is the total depreciation that you could have taken if the asset had been used for business 100 percent of the time If you are entering a new asset press Enter to leave this field blank If you are entering an existing asset enter the depreciation that accumulated over the life of the asset through the end of the last fiscal year The accumulated depreciation taken is the total actual tax deductible depreciation accumulated for an asset through the end of the last fiscal year If the asset was used for business 100 percent of the time the amount that appears is the same as the amount in the Accum Elig Depr field If the asset was used for business less than 100 percent of the time the depreciation you actually took appears in this field unless you are setting up an asset Description The calculated total depreciation for the current year is based on the asset value at the beginning of the year and the depreciation method you chose During year end maintenance the system calculates this value for the next year If you are adding an asset the calculated current year annual depreciation based on the information you have entered so far appears in the field Press Enter to accept this figure or enter the total depreciation you can take in the current year The current annual depreciation appears at the bottom of the screen Fixed Assets Fixed Assets File Maintenance CHAPTER 8 Field Description YTD D
51. 0 4 27 PM You can move around the graphical menu in these ways Click an application to view that application s menu Click a menu item to view its functions Double click a function name to enter that function To exit from the graphical menu click a different application or menu name or press Tab to return to the main menu To exit from OSAS click the Close box in the upper right corner of the screen press F7 or select Exit from the File menu Fixed Assets Navigating OSAS MDI Main Menu Fixed Assets Introduction CHAPTER 1 The MDI menu centralizes all OSAS functionality in one location applications appear as tabs at the top of the screen their menus and functions appear in a navigation pane on the left side of the screen and function screens appear in the large pane on the right Using this menu you can open more than one function screen at a time and move or minimize screens as needed However you cannot open two functions that lock the same data file at the same time IN OPEN SYSTEMS R Accounting Software File Views Tools Other User Window Help Fee ME 5 Company H Builders Supply r E 7 Commands Edit Modes Other Scroll Commands Information Help Information Inquiry Daily Work 2xe ae m5 amp OK _ Abandon Inventory Transactions Location Transfers Transaction Journal Quantity Units Date Stat Type Item Loc ID Transfers J
52. 007 01 2012 60 SL 35735 00 00 16933 58 10 64 3801 42 utorobile Tan LMC FEDTAX 02 2007 02 2010 36 MO3P 35735 00 00 11657 57 25 40 9077 43 OTHER 02 2007 01 2010 36 SYD 35735 00 00 15835 62 37 50 13399 38 A M T 02 2007 01 2010 36 200DB 35735 00 00 7396 94 61 11 21833 06 TOTAL FOR ASSET ID AUTO BOOK 47965 08 7394 43 19336 04 4722 80 TAX 47965 08 6982 97 12233 01 10201 57 OTHER 47965 08 7407 08 16269 70 14099 41 A M T 47965 08 7789 18 8131 35 23170 33 Fixed Assets Credit Summary Report o M The Credit Summary Report shows the base costs depreciation methods 179 expenses and adjusted base costs applied credit amounts and percentages of adjusted base costs for all columns Use this report as a resource when filling out IRS form 3468 Investment Credit Select Credit Summary Report from the Year End menu The Credit Summary Report screen appears f Credit Summary Report lelak Commands Edit Modes Other Help 2x alas a 2 e OK Abandon Asset ID From AUTO a Print By Thru LATHE 0001 a Asset ID Tax Class From Tax Class Thru GL Asset Account GLAsset Account From Location Thru Date Placed From El Thru c Plant From Thru Division From Print Thru New Only Department From Used Only Thru New and Used Company H 10232007 Terminal T000 OVR Inquiry 1 Enter the range of asset IDs you want to include in the report or leave the boxes blank to include all asset IDs
53. 27 for more information After the schedule is printed the cursor goes to the Loan Description field Enter new values or exit to the Forecasting menu 5 16 Fixed Assets Loan Amortization Amortization Schedule Forecasting CHAPTER 5 10 24 2007 2 56 PM Loan Descripti Loan Principal Annual Percent Payrent Arount First Payrent Tn Payt No Date 1 10 23 2007 2 1172372007 3 12 23 2007 2007 TOTALS 4 01 23 2008 5 02 23 2008 6 03 23 2008 7 04 23 2008 8 05 23 2008 9 06 23 2008 10 07723 2008 11 08 23 2008 12 09 23 2008 13 10 23 2008 14 11 23 2008 15 12 23 2008 16 01 23 2009 Y 0272372009 18 03 23 2009 19 04 23 2009 20 05 23 2009 21 06 23 2009 22 0772372009 23 08 23 2009 24 09 23 2009 25 10 23 2009 26 11 23 2009 Y 12 23 2009 28 01 23 2010 29 02 23 2010 30 03 23 2010 31 04 23 2010 32 05 23 2010 33 06 23 2010 34 07 23 2010 35 08 23 2010 36 09 23 2010 7 10 23 2010 Builders Supply Arortization Schedule on McMurty Loan Payrents per Year Total Nutber of Payrents 352 00 Loan Type age Rate 4 0000 4 53 Date 10 23 2007 ent Applied to Arount Principal Interest 4 53 3 36 1 17 4 53 3 37 1 16 4 53 3 38 1 15 13 59 10 11 3 48 4 53 3 39 1 14 4 53 3 40 1 13 4 53 3 41 1 12 4 53 3 42 1 11 4 53 3 44 1 09 4 53 3 45 1 08 4 53 3 46 1 07 4 53 3 47 1 06 4 53 3 48 1 05 4 53 3 49 1 04 4 53 3 51 1 02 4 53 3 52 1 01 54 36 41 44 12 92 4 53 3 53 1 00 4 53 3 54
54. 3 Retirements Journal The Retirements Journal shows the reason for retirement retirement code estimated depreciable and actual depreciable life and base and depreciation costs retired for the retired items you select Use this information to analyze the depreciation of items that have been retired but not deleted Note Retired assets can be purged during year end maintenance Print the Retirements Journal before you use the Year End Maintenance function Sample Report ASSET ID COMPUTER OMPUTER 0001 01 icro Corputer for Accounting Fully Retired OTAL FOR ASSET ID COMPUTER ASSET ID CRANE 0001 01 ranes Derricks Fully Depreciated OTAL FOR ASSET ID CRANE ASSET ID DRILL 0001 01 Drill Press Fully Depreciated OTAL FOR ASSET ID DRILL ASSET ID FORKLIFT FORKLIFT 0001 01 Forklifts Fully Depreciated Fixed Assets Retirerents Journal by Asset ID Acq Date Depreciation Begin End x Base Cost Period Period i Retired 06 10 2001 05 302005 6329 34 6329 34 03 02 1997 i E 421302 02 28 2005 i El 421302 421302 59 H H 421302 421302 421302 421302 59 421302 03 02 1997 02 28 2005 22016 54 22016 54 03 02 1997 f f 160000 02 28 2005 y 160000 160000 00 f 160000 Depreciation Ri d tir 413302 379598 413302 413302 379598 413302 155000 142200 155000 6 5 Asset Value Report The Asset Value Report shows the book assessed insured and at risk
55. 35735 00 FEDTAX MO3P OTHER SYD A M T 200DB OTAL FOR ASSET ID AUTO BOOK 36965 08 FEDTAX 00 OTHER A M T 7 12 Fixed Assets Credit Recapture Report o M The Credit Recapture Report shows the estimated and actual asset life difference between estimated and actual life in periods total credit dollars retired and recapture amount for retired assets Use this report as a resource when filling out IRS form 4255 Recapture of Investment Credit Select Credit Recapture Report from the Year End menu The Credit Recapture Report screen appears r A Credit Recapture Report lec Commands Edit Modes Other Help zxalae ma e ee ok Abandon Asset ID From CRANE 000101 a Thu SAW 000101 a Retirement Code From Thru GL Asset Account From Thru Retirement Date From fe Thru ze Print by Asset ID 5 Retirement Code GL Asset Account Company H 10 23 2007 Terminal tooo OVR Inquiry 1 Enter the range of asset IDs you want to include in the report or leave the boxes blank to include all asset IDs 2 Enter the range of retirement codes you want to include in the report Fixed Assets 7 13 CHAPTER 7 Year End Credit Recapture Report 3 Enter the range of general ledger asset account numbers you want to include in the report The Inquiry F2 command is only available if Fixed Assets interfaces with General Ledger 4 Enter the range of retirement dates you want
56. 4562 Summary 7 20 Year End Maintenance function 7 31 Year End Maintenance after year end 7 33 Fixed Assets User s Manual INDEX before processing year end 7 31 function 1 6 1 7 4 3 6 5 7 7 7 31 8 21 8 41 log 7 33 screen 7 32 year to date depreciation 8 21 IX 7
57. 79 24 00 00 00 00 00 00 Gains and Losses Report MM The Gains and Losses Report shows acquisition in service and retirement dates base cost depreciation and reduction amounts retired net sale proceeds and gain or loss from the disposal of retired assets Use the report to analyze the profits or losses from the disposal of retired assets and to determine whether you need to make an adjusting entry in the general ledger Retired assets can be purged during year end maintenance Print the Gains and Losses Report before using the Year End Maintenance function Select Gains and Losses Report from the Year End menu The Gains and Losses Report screen appears a Gains and Losses Report EN Commands Edit Modes Other Help z2xa aelmo e eeo OK Abandon Asset ID From Thru Retirement Code From Thru GLAsset Account From Thru Retirement Date From Thru Print by Asset ID Retirement Code GL Asset Account CRANE 0001 01 a WELDER 000101 a E Company H 10 23 2007 Terminal T000 OVR ay boxes blank to include all asset IDs Fixed Assets Enter the range of asset IDs you want to include in the report or leave the CHAPTER 7 Year End Gains and Losses Report 2 Enter the range of retirement codes you want to include in the report or leave the boxes blank to include all retirement codes Inquiry 3 Enter the range of general ledger asset ac
58. 8 A M T SL YES 379 93 183 08 46 07 OFFICE 06 1 Refrigerator BOOK M0701 NO 1248 96 512 98 191 22 FEDTAX MO701 NO 1248 96 512 98 191 22 OTHER SL NO 1248 96 312 24 178 42 A M T 150DB NO 1248 96 313 04 187 75 TOTAL BOOK 361777 67 67533 52 18681 64 FEDTAX 361777 67 72300 81 26191 49 OTHER 361777 67 74413 79 26478 89 A M T 325107 54 83435 45 22187 43 End of Report Fixed Assets 7 33 Percent of Business Use Report o M The Percent of Business Use Report shows for all columns the percentage of business use estimated asset life depreciation method base cost accumulated eligible depreciation accumulated depreciation taken and annual depreciation Use the report to review the percentage of business use and to compare potential and actual depreciation columns You should produce the report immediately after you complete year end processing to make sure that the numbers are accurate Select Percent of Business Use Report from the Year End menu The Percent of Business Use Report screen appears f Percent of Business Use Report Commands Edit Modes Other Help 2X ta eam 2 l OK Abandon Asset ID From AUTO a Thru WELDER 0001 4 GL Asset Acct From Thru Pct Business Use From Thru Print Active Retired New Suspended All Company H 10 23 2007 Terminal T000 OVR Inquiry 1 Enter the range of asset IDs you want to include in the report or leave the boxes blank
59. Column Description Automobile Grey LMC Pct of Business Use 100 Date Placed in Service 10 23 2007 Fa Base Cost 11000 00 Periods per Year 12 Salvage Value 00 Depr Method or Table ID MO3P a 179 Expense 200 00 Recovery Period 3 of a Applied Credits 300 00 Switch to Method ONE Other Bonus Depr 5250 00 Estimated Life in Periods 36 Prior Eligible Depr 00 Depreciation Begin Period 11 2007 Prior Depr Taken 00 Depreciation End Period 11 2010 No Years in Prior Depr 00 Special Allowance Percent 0 Print by Period or Year P Y YEAR v Print Year From 2007 Thru 2010 Company H 10 23 2007 Terminal TODO OVR Fixed Assets 5 19 CHAPTER 5 Forecasting Field Trial Number Inquiry Copy From Asset ID Column Description Pct of Business Use Date Placed in Service 5 20 Trial Depreciation Description Use the trial number to keep track of different analyses The trial number is 1 whenever you enter this function and is incremented by one each time you print a Trial Depreciation Schedule Press Enter to accept the default number or enter a different number Tf the asset you want to analyze is like an asset in the FAMAxxx Fixed Assets file you can copy the cost and depreciation information from that asset Enter the ID of the asset from which you want to copy If you do not want to copy information from an existing asset record press Enter to skip this field If you elected to copy an asset select t
60. Consult your accountant to determine what portion of the credits you should use to reduce the depreciable base Field Description Other Bonus Depr The bonus depreciation is an extra amount the government lets you take with some qualifications consult your accountant during the first year of an asset s life If the asset is eligible for bonus depreciation enter the amount here If you using the JCWAA Special Allowance the system calculates a default value for the Other Bonus Depr field for each book on the Fixed Assets Depreciation screen using this formula Base Cost Salvage Value 179 Expense Applied Credits JCWAA Percent from the JCWAAx table Other Bonus Depr The value is calculated for all books even though FEDTAX is the primary target for the calculation A message box at the bottom of the screen displays the amount calculated If the Other Bonus Depr values are zero this amount defaults into the Other Bonus Depr field If you change the amount in the FEDTAX column the following message box appears Changing Other Depr Bonus may cause your Depr Tax Report to be in error Click OK to continue Fixed Assets 8 19 CHAPTER 8 File Maintenance 8 20 Field Accum Elig Depr Accum Depr Taken Do not enter a figure Field Annual Depr Fixed Assets Description Accumulated eligible depreciation is the total potential depreciation accumulated for an asset up to the end of the last fiscal
61. Credits subscreen 8 13 8 18 8 21 Valuation and Credits subscreen screen 8 13 Fixed Assets User s Manual INDEX Valuations and Credits subscreen 3 9 4 8 8 43 Fixed Assets General Information subscreen 8 16 Fixed Assets List function 8 33 8 34 9 5 list 9 5 flags in text mode 1 24 Forecasting JCWAA special allowance 5 4 Lease vs Buy Analysis function 5 1 Loan Amortization function 5 13 menu 1 4 Projected Depreciation Report 5 27 Trial Depreciation function 5 19 forecasting JCWAA special allowance 5 23 from thru ranges 1 27 G Gains and Losses Report function 7 7 produce before year end 7 31 report 7 8 screen 7 7 General Information subscreen 3 9 8 6 8 7 8 16 8 17 8 33 8 34 summary screen 8 6 viewing summary of 8 6 General Ledger interfaced with Fixed Assets 1 3 3 5 3 6 4 3 4 11 7 4 7 8 7 10 7 12 7 14 7 16 7 36 8 14 8 21 generating initial depreciation values 3 8 GL Account Audit Report 9 13 GLJRxxx file 4 11 GLMAxxx file 1 3 3 5 8 14 graphical mode drop down menus 1 17 function screens 1 16 graphical main menu 1 14 Inquiry button 1 20 Maintenance icon 1 20 MDI menu 1 15 shortcut menu 1 17 toolbars 1 19 IX 3 INDEX grouping similar assets 8 4 H hot keys 1 24 IDs establishing a format 3 2 setting up 3 2 Inquiry F2 button 1 20 flag 1 25 Install Applications function 2 1 2 3 installing Fixed Assets 2 1 setup considerat
62. Field Prior Yr Disallowed Deductions Tax Year Taxable Income Do You Have Evidence of Business Use Claimed Fixed Assets Year End CHAPTER 7 Description This field appears only if you elected to print the Tax Form 4562 Summary The carryover of disallowed deductions from the prior tax year is the amount of section 179 property if any elected to be expensed in previous years but not allowed as a deduction because of the taxable income limitation If you filed Form 4562 for the prior tax year enter the amount from line 13 of your prior year Form 4562 The number you enter here appears on line 10 of the Tax Form 4562 Summary section of the report This field appears only if you elected to print the Tax Form 4562 Summary Enter the taxable income computed without regard to any section 179 expense deduction For more information see the IRS document Instructions for Form 4562 The number you enter here may appear on line 11 of the Tax Form 4562 Summary section of the report See Notes on Line Calculations for Tax Form 4562 Summary below If you have evidence to support the percentage of business use you are claiming on Form 4562 for automobiles and other listed property select the box or enter Y in text mode if not clear the box or enter N in text mode The response you enter here appears on line 22a of the Tax Form 4562 Summary section of the report 7 23 CHAPTER 7 Year End Depr
63. File Maintenance Fixed Assets Field Description Remain Depr Base The total remaining asset value that is the base cost less the salvage value 179 expense amount bonus depreciation applicable credits accumulated eligible depreciation and YTD depreciation is calculated and appears If the total depreciation plus reductions exceeds the remaining depreciable base a warning message appears Do not compute period depreciation or perform year end maintenance until you have corrected this situation When you save the Depreciation subscreen the next subscreen you selected appears If you did not select another subscreen the Fixed Assets master screen appears Documents If you elected to add or change documents attached to a record the Documents screen appears There are many types of documents you can attach for example forecast spreadsheets pricing documents sales notes and so on 8 22 Fixed Assets Fixed Assets Fixed Assets File Maintenance CHAPTER 8 Note You must set up file types in Resource Manager before you can attach documents See the Resource Manager User s Guide for more information a Documents Commands Edit Modes Other Scroll Commands Help A gt xuw na mu e es OF AssetID AUTO Automobile Grey LMC Document Name FASAMPLE DOC Sample word processing document E FASAMPLE XLS Sample spreadsheet document
64. Fixed Assets 8 File Maintenance CHAPTER 8 Press H to return to the header section to change the selection you made for printing the log Press G to go to a particular entry This option is only available when there is more than one page of entries Press F to choose a new field ID this abandons any field changes you entered but have not yet saved Continue entering old values and new values until you have specified all of the values you want to change in the Values section The files that contain the Field ID you selected appear in the File Description section You should change IDs in all of the files as a general rule Exclude files from the change process only when your reseller or support representative instructs you to so 9 10 11 The Time field gives you an idea of the relative time it takes to change the field in a given file Files where this code or ID are a part of the key to the file can be changed more quickly than files where each record in the file must be scanned for the code or ID Each file is rated as Short or Long to denote the estimated time required to change the field The Tag field denotes whether the file is affected by the copy process Tag the file to change fields in the file Select a command Press S to switch to the Values section of the screen Press Enter to toggle a file as included or excluded from the copy process Press A to tag all of the files Press N to untag all of
65. Fixed Assets OSAS 7 6 User Guide OSAS OSAS Fixed Assets User s Guide Version 7 6 2210 FA76 2010 Open Systems Holdings Corp All rights reserved Document Number 2210 FA76 No part of this manual may be reproduced by any means without the written permission of Open Systems Inc OPEN SYSTEMS and OSAS are registered trademarks of Open Systems Holdings Corp All other product names are trademarks or registered trademarks of their respective companies Printed in U S A This manual is recyclable October 2010 This document has been prepared to conform to the current release version of OPEN SYSTEMS Accounting Software Because of our extensive development efforts and our desire to further improve and enhance the software inconsistencies may exist between the software and the documentation in some instances Call your customer support representative if you encounter an inconsistency Open Systems Inc 4301 Dean Lakes Boulevard Shakopee Minnesota 55379 General Telephone 952 403 5700 General Fax 952 496 2495 Support Telephone 800 582 5000 Support Fax 952 403 5870 Internet Address www osas com CONTENTS Chapier 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 Chapter 6 Chapter 7 Fixed Assets User s Manual Introduction The Fixed Assets SysteM ooooooooomooooo Starting OSAS 3 55 ia desis tk asc As Navigating OSAS 0 0 0 000022 Rep tlsa er ae rn le dd Installation an
66. From AUTO a Print For Year y Thru OFFICE 95 la Tax Class Thru Print By Thru Asset ID GL Asset Account From GL Asset Account Thru Plant From Thu Print Division From Detail Thru Summary Department From Thru Date Placed From E Books to Print Thru al Book 7 Print Year From 2007 Fed Tax Y Thru 2007 Other Y AMT 7 Company H 10 23 2007 Terminal TODO OVR Inquiry 1 Select the range of values to print on the report in the list boxes Leave these fields blank to select all values or enter values into a combination of fields to select specific information to print on the list The Inquiry F2 command is usually available with these list boxes Fixed Assets 5 27 CHAPTER 5 Forecasting Projected Depreciation Report 2 Select whether you want to project depreciations for a specific Year or Period 3 Select whether you want to print by Asset ID or GL Asset Account 4 Select whether you want to print the report in Detail or Summary 5 Select the check boxes or press Y in text mode to print that type of information in the report Clear the check boxes or press N in text mode if you do not want to print that type of information in the report 6 Select the output device to begin printing the report See Reports on page 1 27 for more information When you are finished the Forecasting menu appears 5 28 Fixed Assets Projected Depreciation Report Forecasting CHAPTER 5 Projected Depreciat
67. IS dashboards and so on The Other Commands or F4 menu is available on both graphical and text menu and function screens and gives you access to additional utilities and commands not directly related to the function you re currently using Among other things these commands open calculators or allow you to view or enter additional information In text mode press F4 twice on the menu or once on function screens to access this menu Consult Appendix A in the Resource Manager User s Guide for more information on the commands available on the Other Commands menu The Information or Shift F2 menu is available in some graphical or text function screens in certain applications and gives you access to additional information about a customer vendor item job bill of material or employee The commands available on the Information menu are determined by the applications you have installed and can include CHAPTER 1 Introduction Navigating OSAS Favorites Menu e General Information e Comments e History e Documents e Address Lookup Not all of the commands above appear on every Information menu instead commands are available only as they are relevant to the task you are performing For example if you are entering a transaction in Accounts Receivable you can access comments or documents about items or customers but not about employees or vendors Consult Appendix A in the Resource Manager User s Guide for more information
68. If you are using a depreciation table based on recovery period the system also uses this number to determine which column of the table to use Fixed Assets Fixed Assets Fixed Assets Field Switch to Method Est Life Periods Depr Begin Period pd yyyy File Maintenance CHAPTER 8 Description If you are using sum of the years digits or declining balance depreciation you can choose an alternative depreciation method for the end of the recovery period if it is to your advantage If you do not want to switch automatically enter NONE If you want to switch methods what you can enter depends on the primary method you chose If you selected sum of the years digits SYD for the primary method you can enter SL straight line If you Selected a declining balance xxxDB method you can enter SYD or SL If you are using a method other than sum of the years digits or declining balance you cannot enter anything MACRS tables have a built in method to switch to Enter the number of accounting periods in the estimated life of the asset The estimated life based on Recovery Period appears at the bottom of the screen Enter the accounting period and year you want to begin depreciating the asset The acquisition date and date placed in service from the General Information subscreen appear at the bottom of the screen for your reference This is not a date field Depending on the period system you use
69. Month Placed Service Month Placed Service Month Placed Service Month Placed Service Month Placed Service Month Placed Service Month Placed Service Month Placed Service Month Placed Service Month Placed Service ZZZZZZZZZZZZZZ lt lt ZZzzzz lt AZ ZA lt lt lt lt lt lt lt lt zz KKK KK KKK ZZzzzzz 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 o 0 o 0 o 0 0 o 0 o 0 o 0 0 0 0 1 1 1 0 0 0 1 1 1 0 1 1 1 1 1 1 1 1 1 1 Fixed Assets 9 9 Retired Assets List The Retired Assets List shows the acquisition depreciation and disposal information for assets with retired status The Retired Assets List is different from the Retirements Journal Use the Retired Assets List to review detailed information about the retirement use the Retirements Journal to analyze how effectively you depreciated the retired asset Sample List 10 24 2007 5 02 PM Asset ID Description Retirerent Reason GL Asset Account Retirerent Code Retirerent Date Retirerent Quantity Base Cost Retired Depr Method Table ID Estirated Life in Periods Actual Life Depreciation Begin Period Depreciation End Period Salvage Retired 179 Expense Retired Applied Credits Retired Bonus Retired Accur Elig Depr Ret Accut Depr Retired YTD Depr Retired Retaining Depr Base Asset ID Description Retirerent Reason GL Asset Account Retirerent Code Retirerent Date Retirerent Quantity Base Cost Re
70. One Select Lease vs Buy Analysis from the Forecasting menu The first of two Lease vs Buy Analysis screens appears r A Lease vs Buy Analysis Commands Edit Modes Other Help gt xu e mu 2e es ren Page 1 of2 Trial Number 1 Starting Year of Analysis 2007 Effective Tax Rate 22 Number of Years to Analyze 5 Incremental Borrowing Rate 6 25 Compounded Investment Rate 8 50 Date Placed in Service 10 23 2007 Ei Discount Rate 6 LEASE BUY Type of Lease OPERATING y Cash Price 117500 00 Prepayment 10000 00 Payment Amount 2750 00 Credit to Take 00 Number of Payments 48 Payments per Year 12 Expenses 75 00 Number of 1st Year Payments Credit to Take 00 Special Allowance Percent 0 Expenses 275 00 Company H 10 23 2007 Terminal TODO OVR Field Trial Number Starting Year of Analysis 5 2 Description Use the trial number to keep track of different analyses The trial number is 1 whenever you enter this function and is incremented by one each time you generate an analysis The trial number is reset to 1 when you exit to the Forecasting menu Press Enter to accept the default number or enter a different number Enter the year you want the analysis to start Fixed Assets Fixed Assets Field Number of Years to Analyze Date Placed in Service Effective Tax Rate Incremental Borrowing Rate Compounded Investment Rate Discount Rate Forecasting CHAPTER 5 Description Enter
71. R 06 2 Corputer Equiprent 12 01 2006 1 Various COMPUTER 07 1 Color Monitor 051772007 1 wayne 35463568 600 45199 COMPUTER 07 2 Corputer Equiprent 12 01 2007 1 Various LAND 10 Acres Corporate Site 09 22 1997 1 1234 Parklane Road OFFICE 03 office Equiprent 04 01 2003 1 Various OFFICE 04 office Equiprent 03 31 2004 1 Various Fixed Assets 9 5 Tables List ooo MM The Tables List shows the number of columns column length and type and data for any or all Fixed Assets tables Use the Tables List to keep records and verify contents of the Fixed Assets tables you are using Fixed Assets 9 7 CHAPTER 9 Master File Lists Tables List Sample List ders Supply Tables List Fixed Assets Table ID ACPRDH Description Accounting Periods table No of Colutns Colutn Length 12 Type Description No Periods This Year Begin Period Endng Period Fiscal Year G L Period Process Table ID DPRTX Description Depreciation Tax Table No of Colutns 2 Colutn Length 12 Type A Description Value MAX LIMIT 108000 THRESHHOLD 430000 Table ID LOCAT Description Locations table No of Colurns Colurn Length 12 Type A Location tion LOCATION 1 LOCATION 2 Division LOCATION 3 Departrent 9 8 Fixed Assets Depreciation Tables List The Depreciation Tables List shows the table name description and type recovery period or month placed in service for the depreciation tables you select The detailed list also shows the percentage and m
72. Receivable Inventory or Payroll An item of value either owned or leased that is expected to benefit future operations See also fixed asset One of the methods prescribed by the IRS for calculating depreciation of assets placed in service before 1981 The ADR system was based on broad industry classes of assets and prescribed the range of useful asset lives available to taxpayers ADR was a yearly election for the assets acquired in the year once it was elected the taxpayer was bound by ADR accounting and reporting rules for those assets A user assigned code that identifies an asset or group of assets An identification number placed on an asset during inventory and used for internal audit controls The tag and number are used to make sure that the asset is not missed or counted more than once To make a copy of data for archival purposes For example you would want to back up a history file before you purged history so that you could retrieve the data if you had to The final payment larger than preceding payments on a debt that is not fully amortized Fixed Assets bonus depreciation Book depreciation capital asset capital gain capitalization capital lease capital loss Class Life System CLS company convention conversion cost of replacement Fixed Assets Glossary APPENDIX B Extra depreciation that the government lets the taxpayer take with some qualifications during the first y
73. Refrigerator 1248 96 7 0 mMO7Q1 200 74 OFFICE 05 2 FAX Machine 794 99 7 0 MO P 104 28 OFFICE 05 1 File Cabinets 1142 04 7 0 MO7P 149 81 OFFICE 05 4 walnut Desk Chairs 379 93 7 0 MO7P 49 84 COMPUTER 05 1 Portable Corputer 4782 17 5 0 MOSP 683 64 OFFICE 05 3 Book Shelves 121 06 7 0 MO7P 15 88 IBUILDING Corporate Headquarters Bldg 197500 00 27 5 M27R 5385 83 COMPUTER 05 3 Corputer Equiprent 8810 12 5 0 MOSP 1268 66 COMPUTER 04 Portable Corputer 5684 78 5 0 MOSP 491 17 COMPUTER 04 1 Corputer Equiprent 7925 47 5 0 MOSP 684 76 OFFICE 04 Office Equiptent 3323 67 7 0 mMo7Q1 272 46 COMPUTER 03 Corputer Equiprent 11021 00 3 0 SL 00 OFFICE 03 office Equiprent 2421 00 5 0 SL 381 31 COMPUTER 0001 Micro Corputer for Accounting 6329 84 3 0 SL 00 LAND 10 Acres Corporate Site 45000 00 0 NONE 00 CRANE 0001 CranessDerricks 421302 59 10 0 SL 6790 89 DRILL 0001 Drill Press 22016 54 10 0 SL 366 18 FORKLIFT 0001 Forklifts 160000 00 10 0 SL 2525 99 LATHE 0001 Lathes 151421 66 10 0 SL 2518 45 PLANER 0001 Planers Sanders 98537 80 10 0 SL 1544 29 SAW 0001 Power Saws 216131 20 10 0 SL 3540 64 WELDER 0001 welding Machines 318265 13 10 0 SL 5293 39 TOTAL 35529 51 Fixed Assets 7 27 CHAPTER 7 Year End Depreciation Tax Report Depreciation Tax Report Tax Form 4562 Summary parts I IV Vines 6 and 6 7 Listed Property Enter the arount fror line 29 7 8 Total elected cost of section 179 property Add arounts in column to
74. TER 8 LOCATxxx Table The LOCATxxx table stores the list of user defined location names The names you define here appear on the General Information subscreen in the Fixed Assets function and in the Fixed Assets List The default entries are Plant Division and Department You can rename the fields to something appropriate to you business If you leave a location description blank the unlabeled field continues to appear on screens where it is used When you enter the table ID the rest of the LOCATxxx table appears H rare Se Commands Edit Modes Other Help zxalae ma E OK Abandon Table ID A 4 Description Locations table Number of Cols 2 Column Length 12 Type A v Location Description LOCATION 1 Plant LOCATION 2 Division LOCATION 3 Department Company H 10 23 2007 Terminal TODO OVR Enter the names you want to use for location fields If you leave the description blank an unlabeled field that is a field with no name continues to appear on screens where it is used Fixed Assets 8 33 CHAPTER 8 File Maintenance Tables TAXDTxxx Table The TAXDTxxx table stores the list of user definable tax district names The names you define here appear on the General Information subscreen in the Fixed Assets function and in the Fixed Assets List The default entries are State County and City You can rename the fields to something appropriate to your business If you leave a
75. Yr List Prop Lux Auto ACRS Max 6 18 84 4 1 85 ACRS Yr List Prop Lux Auto Max 4 2 85 7 30 86 ACRS Year Real other than low incote housing ACRS Yr Real L Alt 35 Years before 5 09 85 ACRS Yr Real LowI Alt 45 Years after 12 31 80 ACRS Year Public Utility 1980 1987 ACRS Yr Listed Prop Real Low In Hsng No Max ACRS Year Real Property 316 6 722 84 ACRS Year Real Alternate 3 16 3 34 ACRS Year Real after 6 ACRS Year Real Alternate after 6 ACRS Year Real Alt 35 Years 316 6 ACRS Year Real Alt 35 Years after 6 ACRS Year Real Alt 45 Years 316 6 ACRS Year Real Alt 45 Years after 6 22 ACRS Yr Listed Prop Real Low In Hsng No Max Recovery Period Recovery Period Recovery Period Recovery Period Recovery Period Recovery Period Recovery Period Recovery Period Recovery Period Recovery Period Recovery Period Recovery Period Recovery Period Recovery Period Recovery Period Recovery Period Recovery Period Recovery Period Recovery Period Recovery Period Recovery Period Recovery Period Recovery Period Recovery Period Recovery Period Recovery Period Recovery Period Recovery Period Recovery Period Recovery Period Recovery Period Month Placed in Service Month Placed in Service Month Placed in Service Recovery Period Recovery Period Recovery Period Month Placed in Service Month Placed in Service Month Placed in Service Recovery Period
76. alternative minimum tax A M T columns Select the check box or enter Y in text mode for the columns you want to apply it to or clear the box or enter N in text mode for the columns you want to depreciate at 100 percent The three tax district names you defined in the TAXDTxxx table page 8 34 appear Enter the appropriate tax district information for each field The three asset location names you defined in the LOCATxxx table page 8 33 appear Enter the appropriate asset location for each field When you save the General Information screen the next screen you selected appears If you did not select another screen the Fixed Assets screen appears Fixed Assets Fixed Assets File Maintenance CHAPTER 8 Valuation and Credits Use the Valuation and Credits subscreen to record information about the asset insurance and credits taken against the asset and to link the asset to general ledger accounts 1f Fixed Assets interfaces with General Ledger a Valuation and Credits Commands Edit Modes Other Help 2xa ae mal e ee OK Abandon AssetID AUTO Description Automobile Grey LMC Insured E Effective Date 05 15 2004 EA Insured Value 8000 00 Assessment Date 05 15 2004 TE Assessed Value 8000 00 Replacement Valuation Date 05 15 2004 E Replacement Cost 12500 00 Credits Desc Total Credits 00 Accumulated Costs Expenses 455 00 Sales Use Tax Paid 660 00 GL Asset Account 154000 GL Accumulated Depr Accoun
77. ame of the Manufacturer manufacturer and the model number Model No Quantity If the item is a single item enter 1 If it is a group of identical items enter the total quantity of identical items Fixed Assets 8 7 CHAPTER 8 File Maintenance Field Serial No Listed Asset Tag No Memo Property Class Code Tax Class Number 8 8 Fixed Assets Description If the asset is a single item enter the serial number the manufacturer assigned to it If you entered a number greater than 1 in the Quantity field you can record other identifying information such as lot number or production batch number in this field If the asset is used exclusively for business purposes clear the check box or enter N in text mode The Percent Business Use field is set to 100 and cannot be changed If the asset has any personal use attached to it select the box or enter Y in text mode If you attach your own inventory tags to assets enter the asset tag number you assigned Enter any information that you need to record about the asset If you have set up a property class coding system for your company s internal use enter the class code Enter the federal tax class for the asset effective June 1990 1245 Depreciable property such as tangible personal property special purpose and storage structures single purpose agricultural or horticultural structures and petroleum or petroleum products storage facilitie
78. ange Then use the Proceed OK command to move on to the subscreens you selected Delete an Asset After you press Enter to accept an asset record the Delete F3 command is available You can delete an asset record from the master screen or from any subscreen Fixed Assets Fixed Assets File Maintenance CHAPTER 8 General Information Use the General Information subscreen to record information that identifies the asset and detailed information about its acquisition A General Information kl Commands Edit Modes Other Help xe elmal e ee Asset ID AUTO Listed Asset E Tag No MY CAR Description Automobile Grey LMC Memo Property Class Code Manufacturer LMC Tax Class Number 1245 Model No 100 DX Personal Real PERSONAL y Status ACTIVE a Quantity 1 Owned Leased OWNED A Serial No 1234 4567 8901 New Used USED y Acquisition Date 03 14 2004 CE Acquisition Cost 11000 00 Date Placed in Service 05 14 2004 TE Adjusted Cost 11000 00 Date of Last Adjustment 05 14 2004 EE Percent Business Use 75 Retirement Date EX Apply Book FedTax Y Other Y Amt E Special Allowance Percent 0 State MN Plant Main County Hennepin Division Executive City Minneapolis Department Company H 10 23 2007 Terminal Tooo OVR The asset ID with suffix ID and sequence number if any you entered on the master screen appears Field Description Description Enter a brief description of the asset the n
79. appears Then this message appears on the Resource Manager Data File Conversion and Data File Creation screen to inform you that the process has been aborted Correct the problem described in the first message and try again You must complete period work before you retire an asset You cannot retire an asset with an unposted amount in the Current Depreciation field A serious error has occurred Write down the information that appears and get help from a support technician After you switch an asset s status to active by entering the date the asset was placed in service you cannot delete the date the asset was placed in service and restore the asset s new status APPENDIX A System Messages Column has been processed for all periods Could not find any valid source files for this application Current YTD depreciation cannot exceed annual depreciation File unavailable XXXXX You cannot compute period depreciation for a column that has been processed for all periods in the current fiscal year nor can you use the Process All Columns option if one column has been processed for all periods If the column has been processed incorrectly check the ACPRDxxx table and change it if necessary If the column has been processed correctly and you want to process the remaining columns you must process each column individually The source directory you specified does not contain files for the application you are conver
80. ation Trial Depreciation Schedule 5 y Trial Depreciation Trial 1 Autorobile Grey LMC of Business Use 100 Base Cost Date Placed in Service 10 23 2007 Salvage Value Periods per Year 12 179 Expense Applied Credits Depr Method Table ID MO3P Other Bonus Depr Recovery Period 3 0 Switch to Method NONE Prior Eligible Depr Prior Depr Taken Estirated Life in Periods 36 No Years in Prior Depr Depreciation Begin Period 11 2007 Depreciation End Period 11 2010 Special Allowance Percent 0 Print by Period or Year Print Year Fror Thru Accurulated Reraining Annual Current YTD Accutul ated Eligible Depr Di Depreciation Depreciation Depreciation Depreciation 00 5250 00 1749 83 3500 17 4083 46 1166 54 4860 99 389 01 2010 5250 00 Report 5 26 Fixed Assets Projected Depreciation Report o M Use the Projected Depreciation Report to view a report listing the expected depreciation for the current or next fiscal year by period based on the assets currently on file The report allows you to plan for the effects of depreciation and asset acquisitions and retirements The report can be printed for all assets or a range of assets and can be printed in summary or detail Select Projected Depreciation Report from the Forecasting menu The Projected Depreciation Report screen appears A Projected Depreciation Report La i Commands Edit Modes Other Help 2xt selmal e lee ox _ Abandon Asset ID
81. ave processed 6 periods this year 7 appears Press Enter to use the default period or enter the number of the last period you want to include in the depreciation calculation This field is accessible only if you are processing the Book column see Process above The period number that appears is based on the current system date and the CNVTxxx table For information about the CNVTxxx table see the Resource Manager User s Guide Press Enter to post to the general ledger period that appears or enter the period you want the depreciation posted to Use the Proceed OK command to start the process As the system computes the current depreciation for each asset the asset ID appears at the bottom of the screen When the system is finished computing depreciation the Period Work menu appears 4 5 Print Period Depreciation OC M The Print Period Depreciation function produces a journal of accumulated depreciation taken and the year to date annual and current depreciation for active assets Print the journal after you compute period depreciation use it to check your figures before you post period depreciation When your figures are correct save the journal as part of your audit trail You can compare it to the Post Period Depreciation Log Select Print Period Depreciation from the Period Work menu The Print Period Depreciation screen appears a Print Period Depreciation x J zxa ae moa e oe OK Abandon P
82. aximum amounts for the columns in the table Use the Depreciation Tables List to verify the accuracy of the depreciation tables you are using Sample List rs Supply Surrary Depreciation Tables List Colutn Type Maxi tuts Description 3 Year safe harbor leases 5 Year safe harbor leases 10 Year safe harbor leases 150 Declining Balance Method 200 Declining Balance Method ACRS Yr List Auto No Max ACRS Yr List Auto Max 6 18 84 4 1 85 ACRS Yr List Auto Max 4 2 85 7 30 86 ACRS Yr List Auto Max 1 1 87 12 31 88 ACRS Yr List Auto Max 89 12 31 90 ACRS Yr List Auto Max 91 12 31 91 ACRS Yr List Auto Max 92 12 31 92 ACRS Yr List Auto Max 93 12 31 93 ACRS Yr List Auto Max 94 12731794 ACRS Yr List p Auto Max 95 12731795 ACRS year Personal Property 1980 1987 ACRS Yr List Auto No Max ACRS Yr List Auto Max 6 18 84 4 1 85 ACRS Yr List Auto 7 86 ACRS 5 Yr List Auto 7 31 88 ACRS Yr List Auto E 90 ACRS 5 Yr List Auto k ACRS 5 Yr List Auto ACRS 5 Yr List Auto ACRS 5 Yr List Auto E ACRS 5 Yr List Auto 1 95 12 31 ACRS year Personal Property 1980 1987 ACRS 10 Yr List Prop Lux Auto No Max ACRS 10 Yr List Prop Lux uto Max 6 18 84 4 1 85 ACRS 10 Yr List Prop Lux Auto Max 4 2 85 7 30 86 ACRS 10 year Personal Property 1980 1987 ACRS 15 Year Low Incore housing before 5 9 85 ACRS 15 Year Low Incore housing after 5 8 85 ACRS Low Incote Housg Alt 35 Years after 5 8 85 ACRS
83. count numbers you want to include in the report The Inquiry F2 command is only available if Fixed Assets interfaces with General Ledger 4 Enter the range of retirement dates you want to include in the report 5 Select the order in which you want to organize and subtotal the report 6 Select the output device to begin printing the report See Reports on page 1 27 for more information After the list is produced the Year End menu appears Gains and Losses Report Builders Supply Gains and Losses Report by Asset ID Acq Date Date Placed Retired Retired Retired Net Sale Date Retired Base Cost Accut Depr A Reductions Proceeds ASSET ID COMPUTER OMPUTER 0001 01 icro Cotputer for Acco Business Use 100 ax Class 1245 OTAL FOR ASSET ID COMPUTER ASSET ID CRANE 0001 01 02 421302 406511 ranesDerricks 02 421302 372807 Business Use 100 28 421302 406511 ax Class 1245 OTAL FOR ASSET ID CRANE 421302 406511 421302 372807 421302 406511 ASSET ID DRILL Business Use 100 ax Class 1245 OTAL FOR ASSET ID DRILL ASSET ID FORKLIFT FORKLIFT 0001 01 027 BOOK 160000 152474 Forklifts 02 FEDTAX 160000 139674 Business Use 100 28 OTHER 160000 152474 ax Class 1245 A M T 7 8 Fixed Assets Depreciation Summary Report MM The Depreciation Summary Report shows the base costs depreciation methods accumulated and year to date depreciation remaining depreciable base and estimated li
84. creen The record is not saved unless you approve all four subscreens If you use the Exit F7 or Abandon F5 commands on any subscreen the master screen and your entries on previous subscreens are discarded Fixed Assets 8 5 CHAPTER 8 File Maintenance Fixed Assets 8 6 Change an Asset If the asset ID you entered is in the FAMAxxx file a window appears in the middle of the screen It is a summary of the General Information subscreen Description Automobile Grey LMC Tag No MY CAR Manufacturer LMC Status ACTIVE Model No 100 DX Plant Main Serial No 1234 4567 8901 Division Executive Acq Date 03 14 2004 Department Quantity 1 Press Enter if the asset you want to work with appears Press N to see a summary of the General Information subscreen for the next asset in the FAMAxxx file When you find the asset you want to work with press Enter Press P to see a summary of the General Information subscreen for the previous asset in the FAMAxxx file When you find the asset you want to work with press Enter If you go through the file without selecting an asset the system starts over with the first record in the file If you do not want to scroll farther through the file use the Abandon command to start over at the Asset ID field Do You Want to Maintain Select the check box or enter Y in text mode after the subscreens you want to change Clear the box or enter N in text mode after the subscreens you do not want to ch
85. ct any combination of books to process Select the box or enter Y in text mode in the fields corresponding to the books you want to process If you do not want to process a book clear the box or enter N in text mode in its corresponding field Select the output device to begin See Reports on page 1 27 for more information After the list is produced the Year End menu appears Fixed Assets Year End Maintenance Year End CHAPTER 7 After Year End After you complete year end maintenance produce the Percent of Business Use Report page 7 35 The numbers in the Percent of Business Use Report are accurate immediately after the Accum Eligible Depr and Accum Depr Taken fields are updated by the Year End Maintenance function they lose accuracy as period depreciation is computed and posted Year End Maintenance Log 10 19 2007 Builders Supply Page 3 4 29 PM Year End Maintenance Colum Depr Switch Base Accumulated Annual Asset ID Description Type Method Done Cost Depreciation Depreciation OFFICE 05 2 FAX Machine BOOK MO7P NO 794 99 412 57 99 29 FEDTAX MO7P NO 794 99 412 57 99 29 OTHER SL NO 794 99 312 32 113 57 A M T SL YES 794 99 383 09 96 40 OFFICE 05 3 Book Shelves BOOK MO7P NO 121 06 62 83 15 12 FEDTAX MO7P NO 121 06 62 83 15 12 OTHER SL NO 121 06 47 56 17 30 A M T SL YES 121 06 58 34 14 68 OFFICE 05 4 Walnut Desk Chairs BOOK MO7P NO 379 93 197 17 47 45 FEDTAX MO7P NO 379 93 197 17 47 45 OTHER SL NO 379 93 135 69 54 2
86. d Conversion COnVvelsion A AA an Setup Setup Checklist and Functions Period Work Compute Period Depreciation Print Period Depreciation 2000 Post Period Depreciation 005 Forecasting Loan Amortization 00 00008 Trial Depreciation 0 0 ee ee eee ee Projected Depreciation Report Reports Additions Journal 0 0 0 0 con Retirements Journal ooo oo Asset Value Report 0 0 0 0 ce eee eee eee Year End Depreciation Comparison Report Gains and Losses Report 005 Depreciation Summary Report 6 1 6 5 6 7 7 1 7 3 7 7 7 9 iii CONTENTS Credit Summary Report 7 11 Credit Recapture Report 0 7 13 Property Assessment Schedule 7 15 Depreciation Tax Report 00 7 19 Year End Maintenance 0 0 0 eee 7 31 Percent of Business Use Report 7 35 Chapter 8 File Maintenance 8 1 Fixed ASSCts 33 il Aa 8 3 Tabl tii ete 8 27 Depreciation TablesS ooooooooooooo o 8 35 Retire Assets aia RT 8 41 Reinstate Assets 0 0 0 cece eee eee ee eee 8 47 Change Fields 00 2er se 8 49 Chapter 9 Master File Lists 9 1 Fixed Assets List 2 0 0 cee cee eee ee 9 5 Tables Listo oie een 9 7 Depreciation Tables Lis
87. d cost differs from the acquisition cost in that it is the basis for other calculations Enter the adjusted acquisition cost For example if you install a new motor in your delivery truck increasing the value of the truck enter the acquisition cost plus the cost of the new motor in this field Similarly if you acquire an asset and later write off part of its value change the value in this field not the value in the Acquisition Cost field Remember to change the Date of Last Adjustment field whenever you change the adjusted cost Fixed Assets 8 11 CHAPTER 8 File Maintenance 8 12 Field Percent Business Use Fixed Assets Description Enter the percentage of time the asset is used for business reasons as opposed to personal reasons The system uses this percentage in the Compute Period Depreciation function to calculate the amount of depreciation you can deduct If this is not a Listed Asset this field is set to 100 and cannot be changed Under current tax rules you cannot deduct depreciation on assets used for business less than 50 percent of the time The system warns you if business use falls below 50 percent but it does not stop accumulating depreciation until you change the asset status to suspended or change the depreciation method to none Field Apply Tax District 1 2 3 Location 1 2 3 Description You can apply the percent of business use to the asset s book federal tax other or
88. dg TOTAL FOR ASSET ID BUILDING ASSET ID COMPUTER COMPUTER 0001 Micro Corputer for Accounting Builders Supply Depreciation Corparison Report by Asset ID Corpare Book Against FedTax Accurulated Depreciation 6518 6107 875 875 YTD Depreciation Page 1 BOOK FEDTAX YTD Difference COMPUTER KCorputer COMPUTER Portable COMPUTER KCorputer ICOMPUTER Portable COMPUTER Corputer COMPUTER 03 Equiprent 04 Corputer 04 1 Equiprent os 1 Cotputer 05 3 Equiprent 06 1 Color Monitor Fixed Assets Date Placed Depr Bus Use Method Base Cost 05 14 2004 BOOK MO3P 11000 00 75 FEDTAX SL 11000 00 03 31 2004 BOOK MOSP 1230 08 100 FEDTAX MOSP 1230 08 02 01 2007 BOOK SL 35735 00 80 FEDTAX MO3P 35735 00 BOOK 47965 08 FEDTAX 47965 08 04 11 2005 BOOK SL 197500 00 100 FEDTAX M27R 197500 00 BOOK 197500 00 FEDTAX 197500 00 06 10 2001 BOOK SL 6329 84 100 FEDTAX SL 6329 84 04 01 2003 BOOK SL 11021 00 100 FEDTAX SL 11021 00 06 09 2004 BOOK MO5P 5684 7 100 FEDTAX MOS5P 5684 7 03 31 2004 BOOK MOSP 7925 47 100 FEDTAX MOS5P 7925 47 06 02 2005 BOOK MOSP 4782 17 100 FEDTAX MOSP 4782 17 04 01 2005 BOOK MOSP 8810 12 100 FEDTAX MOSP 8810 12 05 17 2006 BOOK mosQi 1276 44 100 FEDTAX MO5Q1 1276 44 5950 6076 6021 6021 4047 4047 5642 5642 2486 2486 4581 4581 446 446 491 17 491 684 654 683 683 1268 1268 248 248 3
89. dger Master file Then you can use the Inquiry F2 command to look up and select general ledger account numbers when you enter asset records page 8 3 and create Journal entries when you post period depreciation on page 4 11 After you define the accounts in the assets records posting period depreciation debits the depreciation expense account and credits the accumulated depreciation account for the sum of the current depreciation amounts in the Book column Retiring an asset does not remove it from the general ledger asset accounts After you retire and dispose of an asset you must make a manual GL Journal entry to remove the asset from your books Options and Interfaces Select Options and Interfaces from the Resource Manager Company Setup menu The Options and Interfaces screen appears Fixed Assets 3 5 CHAPTER 3 Setup Setup Checklist and Functions Tables 3 6 The name of the company you are working with appears Specify whether the Options table is shared or owned See the Resource Manager User s Guide for more information about Options tables Then enter FA as the application ID The Fixed Assets Options screen appears f Fixed Assets Options Erg Commands Edit Modes Other Scroll Commands Help 2 xu namo 206 06 OK _ Abandon Description Value Interface to General Ledger WME Option 001 of 001 Company H 10 23 2007 T
90. ding suffix ID and sequence number of the asset you want to reinstate from retirement The asset description and credit information from the retired asset record appear 2 Inthe Sequence No box enter the retirement sequence number Reinstate Assets Screen Two 8 48 When you use the Proceed OK command to save the entries on the first screen the second screen appears r A Reinstate Assets lea Commands Edit Modes Other Help 2xt malmal e lee OK Abandon Asset ID COMPUTER 03 Description Computer Equipment BOOK FEDTAX OTHER AMT Base Cost 11021 00 11021 00 11021 00 11021 00 Depr Meth Table SL SL SL SL Estimated Life in 36 36 36 36 Actual Life 57 57 57 57 Depreciation Begin 01 2003 01 2003 01 2003 01 2003 Depr End Period 12 2005 12 2005 12 2005 12 2005 Salvage Value 00 00 00 00 Other Bonus Depr 00 00 00 00 179 Expense 5000 00 5000 00 5000 00 5000 00 Applied Credits 00 00 00 00 Accum Elig Depr 6021 00 6021 00 6021 00 6021 00 Accum Depr Taken 6021 00 6021 00 6021 00 6021 00 YTD Depreciation 00 00 00 00 Remaining Depr Base 00 00 00 00 Reinstate Asset frnrsa2 Paint 10 23 2007 Terminal T000 OVR The second screen is the same as the second screen of Retire Assets Once you verify that the reinstatement information is correct click Reinstate Asset to reinstate the asset When you approve the reinstatement the cursor returns to the Asset ID field enter another asset ID or exit t
91. dors you work with in a report leave the Vendor ID From and Thru fields blank e To limit the amount of information in the report enter a range in the From Thru fields For example 1f you want a report to include information only about vendor ACE001 enter ACE001 in both the Vendor ID From and Thru fields If you want the report to include information only about vendors that start with CO enter CO at From and COZZZZ at Thru e You can also select the Tag check mark next to a selection to select a non contiguous range of information In fields where you ve tagged individual choices the selection will appear as an asterisk in the From Thru fields after the selection Fixed Assets 1 27 CHAPTER 1 Introduction Reports Sorting Each field where you enter information on a report screen usually restricts the overall output of the report For example if you leave the Vendor ID From and Thru fields blank the report contains information about all the vendors But if you enter invoice 100 in the Invoice Number From and Thru fields and invoice 100 is assigned only to vendor ACE001 the report includes information only about vendor ACE001 Information for reports is sorted first by a space _ then by special characters then by digits then by uppercase letters and finally by lowercase letters No matter what you enter in the From and Thru fields however your entries are sorted in alphabetical order unless the function provides an o
92. e Forecasting menu The Loan Amortization screen appears A Loan Amortization jale Commands Edit Modes Other Help 2xt mealmal e lee 0K Abandon Loan Description McMurty Loan Loan Type Straight Line v First Payment Date 10 Payments Per Year 1 N 3 2007 Ei N Loan Principal 352 00 Annual Percentage Rate 4 0000 Total Number of Payments 90 Balloon Amount 00 Payment Amount 453 Total Interest 56 02 Print Quarterly Breaks Total Payments 408 02 Print Yearly Breaks Y Year From 2007 Thru 2015 Company H 10 23 2007 Terminal T000 OVR Field Description Loan Description Enter a brief description of the loan Fixed Assets 5 13 CHAPTER 5 Forecasting 5 14 Field Loan Type First Payment Date Payments Per Year Loan Principal Annual Percentage Rate Total Number of Payments Balloon Amount Loan Amortization Description Select the type of loan with which you are working S Straight loan R Rule of 78s loan B Balloon payment loan F Fixed principal loan Press Enter if the first payment is due on the date that appears or enter the date the first payment is due Enter the number of payments you will make in a year If you are working with a straight line or rule of 78s loan enter the loan principal or press Enter to leave this field blank If you leave the field blank the system calculates the principal after you enter the payment am
93. e mailing 1 32 formatting 1 34 including information 1 27 previewing 1 30 printing 1 29 ranges 1 27 saving to a file 1 31 selecting information 1 27 IX 5 INDEX sorting information 1 28 viewing on screen 1 31 Resource Manager Data File Conversion function 2 3 2 4 Data File Creation function 2 2 Install Applications function 2 1 2 3 Options and Interfaces function 3 5 Retire Assets function 1 6 1 7 8 9 8 41 8 48 retiring part of a multiple unit asset 8 44 Screen One 8 42 8 47 Screen Two 8 45 retired assets 6 5 7 7 asset ID plus sequence number 8 41 Retired Assets List function 1 6 8 41 9 11 retirement defined 8 41 Retirements Journal different than Retired Assets List 9 11 function 1 5 1 6 6 5 8 41 produce before year end 7 31 report 6 5 right click menu See shortcut menu 1 17 Roles setting up 3 10 roles company specific information 3 10 what to protect 3 10 S screens graphical function 1 16 graphical main menu 1 14 navigating graphical 1 16 navigating text function 1 23 OSAS MDI menu 1 15 text function 1 22 text main menu 1 21 section 179 expense 8 18 sequence number 8 4 setting up Fixed Assets roles 3 10 setup checklist 3 5 IX 6 shortcut menu 1 17 sorting alphabetical 3 2 codes and IDs 3 2 principles of 3 2 starting OSAS in other operating systems 1 9 in Windows 1 9 status new 8 10 retired 8 9 8 41 suspended 8 9 suffix ID 8 4
94. e system checks the ACPRDxxx table to see if period depreciation has been computed If it has this prompt appears Period depreciation already computed Do you want to recompute To leave the existing numbers intact select No or enter N in text mode To recompute the period depreciation select Yes or enter Y in text mode You can select any combination of books to depreciate in the Process section of the screen Select the check box or enter Y in text mode in the fields corresponding to the book s you want to depreciate If you do not want to depreciate a book clear the box or enter N in text mode in its corresponding field 4 4 Fixed Assets Fixed Assets Compute Period Depreciation Period Work CHAPTER 4 Book values are the only depreciation values that affect the general ledger Therefore to keep the general ledger up to date many companies calculate and post book depreciation every period but wait until the end of the year to calculate tax depreciation Field Current Fiscal Year Number of Periods in Fiscal Year Processed This Year Beginning Period to Process Now Ending Period to Process Now Post Depreciation to GL Period Description After you select a column to process the system fills in these fields This information is stored in the ACPRDxxx table The next period in sequence after the period that appears in the Number of Periods Processed This Year field appears For example if you h
95. e the accumulated annual year to date and current depreciation fields blank 4 After you have entered the assets purchased in one year go back to step 2 and set the fiscal year to the next year you purchased assets Repeat steps 2 3 and 4 until all the assets records are entered 5 After you have set up the asset records change the fiscal year in the ACPRDxxx table to the first year you depreciated assets Then use the functions on the Period Work menu Chapter 4 to compute and post retroactive depreciation beginning with the period the oldest asset was placed in service 6 Continue to compute and post period depreciation cycling through the periods in sequence and performing year end maintenance when required until you reach the current period Because the system uses the Date Placed in Service Depreciation Begin Period and Depreciation End Period fields as the keys to determine when to start and stop depreciating each asset this method produces accurate historical values Because of the acceptable range of variations in depreciation calculation and accounting methods the results achieved through this method is internally consistent but they may not match the results achieved through manual methods For more information about entering fixed assets refer to the Fixed Assets function on page 8 3 Fixed Assets 3 9 CHAPTER 3 Setup Setup Checklist and Functions Roles To safeguard your system you ll need to preve
96. ear End Depreciation Comparison Report 7 4 3 Enter the range of general ledger asset accumulated depreciation and general ledger depreciation expense account numbers you want to include in the report or leave the boxes blank to include all account numbers The Inquiry F2 command is only available if Fixed Assets interfaces with General Ledger Enter the range of dates in which assets were placed in service that you want to include in the report or leave the boxes blank to include all dates Enter the range of the three user defined location fields you want to include in the report or leave the boxes blank to include all The names of these three fields are determined by the LOCATxxx table The default descriptions are Plant Division and Department Select the first and second column you want to compare You cannot compare a column to itself Select the order in which you want to organize and subtotal the report Select the output device to begin printing the report See Reports on page 1 27 for more information After the list is produced the Year End menu appears Fixed Assets Depreciation Comparison Report Depreciation Comparison Report Year End CHAPTER 7 10 24 2007 9 PM Asset ID Description ASSET ID AUTO AUTO Autorobile Grey LMC AUTO 04 2 Auto Stereo Syster AUTO 07 Autorobile Tan LMC TOTAL FOR ASSET ID AUTO ASSET ID BUILDING BUILDING Corporate Headquarters Bl
97. ear of an asset s life One of four sets of asset depreciation records provided by the Fixed Assets system Book records are normally kept for your company s general ledger See also FedTax depreciation Other depreciation and A M T depreciation Property held by a taxpayer except inventory held for sale depreciable property used in trade or business section 1231 assets or trade accounts and notes receivable Often the term refers to an investment in securities A profit on the sale or exchange of a capital asset The recording of expenditures that will benefit the company in a future period as assets rather than expenses A lease that is treated by the lessee as both borrowing funds and acquiring an asset to be amortized This lease is recorded as both an obligation on the company s books and as an asset The lessor treats a capital lease as a sale in return for a series of future payments See also service lease A loss on the sale or exchange of a capital asset A capital loss is deductible against only capital gains for tax purposes A set of rules that determines lives for particular assets These rules apply to assets acquired before 1971 In OSAS a business record associated with its own files tables and menu of applications A rule determining when depreciation will begin generally based on the date placed in service The process of updating existing files programs or applications to the current version S
98. eciation Tax Report Field Description Is Evidence Written If you have evidence according to your entry in the previous field select or clear the box or enter Y or N in text mode to indicate whether or not your evidence is in written form The response you enter here appears on line 22b of the Tax Form 4562 Summary section of the report Select the output device to begin printing the report See Reports on page 1 27 for more information After you produce the list the Year End menu appears Notes on Line Calculations for Tax Form 4562 Summary 7 24 The Tax Form 4562 Summary section of the Depreciation Tax Report contains numerous line calculations some of which are determined by your entries on the function screen some of which are generated by the Fixed Assets system Some lines on the Tax Form 4562 Summary are not calculated by the Fixed Assets system and are left blank Enter the numbers manually if necessary All the line numbers on the Tax Form 4562 Summary correspond to the line numbers on IRS Form 4562 For more information on any particular line calculation refer to the IRS document Instructions for Form 4562 Here is a list of the line calculations for the Tax Form 4562 Summary section of the report Line Calculation Re Maximum dollar limitation from function screen 2 Total base cost of 179 expensed property listed and other placed in service during the tax year Threshold cost from function
99. ed on the first screen in the Cash Price field or enter a different base cost Enter the code for the method of calculating depreciation you want to use or enter the ID of the table containing the table driven depreciation method you want to use If you use a table driven depreciation method you can use the Inquiry F2 command 5 5 CHAPTER 5 Forecasting 5 6 Field Recovery Period Switch to Method Estimated Life in Periods Description These are the valid codes for calculated depreciation None Calculate no depreciation for this column SL Straight line SLACRS Straight line ACRS e SYD Sum of the years digits xxxDB Declining balance xxx is a percentage between 000 and 999 Enter the number of years in the recovery period The system uses this number and the information in the ACPRDxxx table to calculate the number of periods in the estimated life of the asset see below and to identify the column to use if you are using a table method based on the recovery period If you are using sum of the years digits or declining balance depreciation you can choose an alternative depreciation method for the end of the fiscal year if it is to your advantage If you do not want to switch methods automatically press Enter If you want to switch methods what you can enter depends on the primary method you chose If you selected sum of the years digits SYD for the primary depreciation
100. edule 7 20 7 22 A ACPRDxxx table 3 7 3 8 3 9 4 4 4 5 4 8 5 6 5 21 7 31 8 16 8 18 8 30 adding an asset 8 5 Additions Journal function 1 4 6 3 produce before year end 7 31 report 6 3 Address Lookup 1 20 1 25 address mapping 1 20 1 25 addresses 1 20 1 25 adjusted cost 8 11 alphabetical sorting 3 2 of numbers 3 2 application interaction 1 3 asset ID how to enter 8 4 parts of 8 4 Asset Value Report function 1 5 6 7 report 6 7 assets listed 8 8 retired 6 5 retiring 8 41 assets records 8 3 B back up Fixed Assets User s Manual all files at once 3 11 data files 3 10 programs 3 11 using operating system commands 3 11 using Resource Manager 3 11 when to 3 10 books depreciating 4 4 Browse 1 20 C calculating depreciation 4 3 Change Fields sample log 8 52 screen 8 49 changing an asset 8 6 CNVTxxx table 4 5 codes establishing a format 3 2 setting up 3 2 sorting 1 28 3 2 commands flags 1 24 hot keys 1 24 Proceed OK 1 2 company assigning roles 3 10 Compute Period Depreciation function 1 6 4 3 4 8 8 12 8 21 converting to OSAS version 7 5 2 4 Credit Recapture Report function 7 13 8 43 produce before year end 7 31 report 7 14 screen 7 13 IX 1 INDEX Credit Summary Report function 7 11 produce before year end 7 31 report 7 12 screen 7 11 D data dictionaries 2 1 Data File Conversion function 2 3 2 4 Data File Creation
101. ee also installation The amount of money needed to replace the asset with a unit of equivalent utility B 3 APPENDIX B Glossary cost of reproduction declining balance depreciation methods depreciable cost depreciation discount rate effective tax rate Energy Tax Credit estimated life expenditure expired life FedTax depreciation B 4 The total amount of money it would take to duplicate an asset as it was when it was new based on current market prices for materials and labor plus contractors overhead profit and fees A method of determining the periodic depreciation charge calculated by applying a multiple of the straight line rate to the asset s unrecovered cost The acquisition cost plus depreciable expenses related to the acquisition of the asset minus the salvage value 179 expensed amount and other predepreciation deductions The wearing out or loss of usefulness of assets whose cost of acquisition was a nondeductible capital expenditure Tax law allows a taxpayer to spread the exhaustible capital expenditures over the assets useful lives by periodic depreciation deductions An interest rate used to convert future payments to present values The total tax divided by the net income A tax credit effective 1981 1986 for investing in qualifying energy property Various properties qualified with various tax credit percentages The expected useful life of an asset from the date i
102. en you finish press F7 to return to the function you were using e When the Inquiry flag appears press F2 to use the Inquiry command to look up additional information and select valid entries for the field you are in e The Verify flag reminds you that you are using verification When this flag appears you must provide verification when you press Page Down or use the Proceed OK command Press Ctrl V to toggle verification on and off Command Bar The command bar appears at the bottom of function screen and gives you access to commands that allow you to move around the screen add or edit information change settings for selected lines or select output devices The commands that are available depend upon the function you are using and are analogous to the command buttons available on graphical screens Press the highlighted key to use a command Messages Messages appear at the bottom of the screen when a command is unavailable or when OSAS needs information to continue Verification Press lt PgDn gt to proceed Address Mapping When you are working with a screen that contains an address you can use the Address Mapping command menu to view a map of that address This command combines address information with the URL and search variables in the Resource Manager Web Setup function and the Map Lookup ID in the Company Setup function to direct your web browser to a mapping website and generate the map 1 25 CHAPTER 1 I
103. ent date assessed value percentage of business use property type and status for specified asset IDs The schedule is organized by tax district Use the Property Assessment Schedule to review the local tax assessment and valuation and as a resource when completing local tax returns Select Property Assessment Schedule from the Year End menu The Property Assessment Schedule screen appears r A Property Assessment Schedule lola Commands Edit Modes Other Help 2X ta e m lee OK Abandon Print By Print O State Personal Only County Real Only City Personal and Real Asset ID From AUTO a Thu WELDER 0001 a State From Status Thru Active GL Asset Acct From Retired Thru New Pct Business Use From Suspended Thru All Assessment Date From E Thru E Company H 10 23 2007 Terminal T000 OVR 1 Select the tax district by which you want to organize the schedule The names of these three fields are determined by the TAXDTxxx table The default descriptions are State County and City CHAPTER 7 Year End Property Assessment Schedule 7 16 2 Enter the range of asset IDs you want to include in the schedule or leave the boxes blank to include all asset IDs Enter the range of tax districts State County City etc you want to include in the schedule The tax district description you selected appear see step one above Enter the range of general ledge
104. entions 1 2 This guide describes the functions that make up the Fixed Assets application and gives details on how Fixed Assets fits into your existing business workflow This guide is divided into these sections Chapter 1 introduces OSAS and the Fixed Assets application and describes the basics of the Fixed Assets system and how to navigate around OSAS Chapter 2 Installation and Conversion details how to install Fixed Assets using Resource Manager and how to create or convert the data files it requires Chapter 3 Getting Started gives information and checklists on the steps you need to perform to set up Fixed Assets Chapters 4 through 12 contain function descriptions organized by menu These chapters mirror the order that appears on the Fixed Assets menu The Appendixes contain supplementary material not directly related to Fixed Assets functionality The Index is a topical reference to the information in the rest of the chapters and concludes this guide This guide uses the following conventions to present information When the Inquiry or Maintenance commands or both are available for a field the Inquiry and Maint flags appear in the margin See page 1 20 and page 1 24 for more information on these commands When you see the phrase use the Proceed OK command in this guide press Page Down in either text or graphical mode to continue In graphical mode you can also click OK to proceed Fixed Assets The F
105. ents Interest Incote Tax Savings Total P amp L Effect Cash Outflows Lease Payrents Expensed Arount Interest Incore Tax Savings Net Cash Outflows Net Present Value at 06 Notes displayed bw ONE Builders Supply _ Lease vs Buy Analysis Trial 1 In 35 Lease Analysis 2007 2008 2009 2010 2011 Total 18525 00 33000 00 33000 00 33000 00 24750 00 142275 00 0 00 0 2237 70 7636 50 5394 60 2954 50 511 60 18734 90 16287 30 25363 50 27605 40 30045 50 24238 40 123540 10 3583 21 5579 97 6073 19 6610 01 5332 45 27178 83 3583 21 5579 97 6073 19 6610 01 5332 45 27178 83 18525 00 33000 00 33000 00 33000 00 24750 00 142275 00 2237 70 7636 50 5394 60 2954 50 511 60 18734 90 3583 21 5579 97 6073 19 6610 01 5332 45 27178 83 12704 09 19783 53 21532 21 23435 49 18905 95 96361 27 18525 00 33000 00 33000 00 33000 00 24750 00 142275 00 0 0 2237 70 7636 50 5394 60 2954 50 511 60 18734 90 3583 21 5579 97 6073 19 6610 01 5332 45 27178 83 12704 09 19783 53 21532 21 23435 49 18905 95 96361 27 Tax Savings corputed assuring lease payrents not lease expense are fully deductible l Net Present Value is cotputed assuting period end flows and tite zero at the beginning of the first year Salvage residual value assured to be zero Buy out provision of lease not considered 2008 2009 2010 2011 Total Page 2 5 10 Fixed Asset
106. epr The year to date depreciation is the sum of the depreciation amounts accumulated and posted during the current fiscal year not including unposted amounts for the current period If you are adding a new asset record press Enter to leave this field blank If you are adding a record for an existing asset enter the depreciation you have taken on this asset in the current fiscal year When you post period depreciation the amount in the Curr Depr field below is added to the amount in this field During year end maintenance the annual depreciation is added to the accumulated depreciation taken and this field is cleared to get ready for the next year Curr Depr The depreciation to be taken in the current period appears Press Enter to accept it or enter a different amount When you use the Compute Period Depreciation function the system calculates the portion of the annual depreciation that can be taken in the current period and puts it in this field When you use the Post Period Depreciation function the system adds the current depreciation to the YTD depreciation and clears this field for the next period If Fixed Assets interfaces with General Ledger and the status of the asset is active the amount in the Curr Depr field in the Book column is debited to the depreciation expense account and credited to the accumulated depreciation account you specified on the Valuation and Credits subscreen Fixed Assets 8 21 CHAPTER 8
107. erminal TODO OVR Press Enter to toggle an option for example between YES and NO When you finish selecting options press W to save your entries and return to the the Options and Interfaces selection screen Select another application or exit to the Resource Manager Company Setup menu For Fixed Assets there is only one option whether or not you want to interface Fixed Assets with General Ledger This option is not available if General Ledger is not installed on your system Tables store information relating to the system data options and other applications Fixed Assets Setup Checklist and Functions Setup CHAPTER 3 You must set up the following tables before you use the Fixed Assets system ACPRDxxx e DPRTXxxx e LOCATxxx e TAXDTxxx You must set up one ACPRDxxx table for each company in the system You can set up the LOCATxxx DPRTXxxx and TAXDTxxx tables for individual companies or all companies For example you can set up table LOCAT for companies that use the same location names and you can set up table LOCATAO1 for company A01 LOCATBO01 for company B01 and so on if those companies use different location names If you delete a company specific table or if you don t set one up for a company that company uses the generic table For example if you delete table LOCATAO1 company AO1 uses the LOCAT table For more information about these tables see page 8 27 Depreciation Tables Fixed Asse
108. ess F6 m EN Set Workstation Date eee Commands Edit Modes Other Help 2x te m elma 2 e e r Jn Workstation Date 12 28 2007 Ts When the Workstation Date box appears use the button or your keyboard to enter the date and press Enter Fixed Assets 1 11 Navigating OSAS MM OSAS menus and functions are available in two modes graphical and text The graphical mode allows both keyboard and mouse commands and uses data entry fields and buttons similar to those found in any graphical software program The text mode presents information in a simpler text format and uses keyboard commands to access functions and move around the screen If you use an operating system that does not have graphical capabilities the text mode is the only mode available You can use either text or graphical function screens independently of the main menu For example you can use text function screens while using the graphical main menu and vice versa Select GUI Functions from the Modes menu or press Shift F6 to toggle between the text and graphical modes for function screens When available press Shift F5 to switch between graphical and text menu modes or press Shift F6 to switch between modes on function screens You can also use the Resource Manager Defaults function to select the default mode to use for the main menu and function screens In text mode use the Page Up Page Down arrow and Enter keys to move between menus select and
109. ext mode if not clear the box or enter N in text mode The system considers evidence of data not converting correctly or file corruption a problem Enter FA in the Appl column Fixed Assets appears Enter your earlier version number of Fixed Assets and press Enter You can determine the version by looking at the copyrights screen when you start OSAS or in most versions by using the Information Shift F2 command on the menu screen If data files already exist for Fixed Assets in the intended destination path the FA data files exist Do you want this task to erase them prompt appears If you want to erase the existing files and convert the files from the version in the source path select Yes or enter Y in text mode if not select No or enter N in text mode If you elect not to erase existing files you must change your directory choices so that no conflict exists To convert use the Proceed OK command The Do you want a printout of error log after each application prompt appears If you want the error log to be produced after files are converted for each application select Yes or enter Y in text mode if you want the log to be produced after files for all applications are converted select No or enter N in text mode If you are converting only Fixed Assets files your answer to this prompt makes no difference If a problem occurs and you indicated that you want the system to pause when a problem occurs a prompt aler
110. f the three user defined location fields you want to include in the report or leave the boxes blank to include all of them The names of these three fields are determined by the LOCATxxx table The default descriptions are Plant Division and Department Enter the range of dates in which assets were placed in service that you want to include in the report or leave the boxes blank to include all dates Select the order in which you want to organize and subtotal the report Select the status of the assets you want to include in the report Select the output device See Reports on page 1 27 for more information After the list is produced the Year End menu appears Depreciation Summary Report 7 10 10 24 2007 Builders Supply PAGE I B 43 PM Depreciation Surrary Report by Asset ID Depr Depr of Base sset ID Begin End Est Depr Accut Depr Retraining Deprec Year to Date scription Period Period Life Method Base Cost Taken Depr Base This Year Depreciation ASSET ID AUTO UTO f BOOK 36 MO3P 11000 00 6518 60 2166 30 7 41 815 10 utorobile Grey LMC FEDTAX 36 SL 11000 00 6107 14 339 28 9 25 1017 36 OTHER 36 SYD 11000 00 6531 25 197 92 5 40 593 75 A M T 36 SL 11000 00 7071 43 392 86 10 71 1178 57 UTO 04 2 BOOK 60 MOSP 1230 08 875 33 236 16 8 64 106 28 uto Stereo Syster FEDTAX 60 MOSP 1230 08 875 83 236 16 8 64 106 28 OTHER 60 MOSP 1230 08 875 83 236 16 8 64 106 28 A M T 60 SL 1230 08 717 7 341 55 12 50 153 70 UTO 07 BOOK 02 2
111. fe for all columns Use this report to review depreciation methods and amounts and to collect the information you need to complete tax forms Select Depreciation Summary Report from the Year End menu The Depreciation Summary Report screen appears A Depreciation Summary Report lea Commands Edit Modes Other Help 2xa aelma e ee ok _ Abandon Asset ID From AUTO la Print By Thu WELDER 0001 8 Asset ID Tax Class From Tax Class Thru GL Asset Account GL Asset Account From GL Accum Depr Account Thru GL Depr Exp Account Accum Depr Account From Location Thru Depr Exp Account From Thru Plant From Print Thru Active Division From Retired Thru New Department From Suspended Thru All Date Placed From m Thru 1 Company H 10 23 2007 Terminal TODO OVR Inquiry 1 Enter the range of asset IDs you want to include in the report or leave the boxes blank to include all asset IDs 2 Enter the range of tax classes you want to include in the report or leave the boxes blank to include all tax classes Fixed Assets 7 9 CHAPTER 7 Year End Depreciation Summary Report pai 5 Enter the range of general ledger asset accumulated depreciation and general ledger depreciation expense account numbers you want to include in the report Leave the boxes blank to include all account numbers The Inquiry F2 command is only available if Fixed Assets interfaces with General Ledger Enter the range o
112. function 2 2 data files backing up 3 10 date fields 1 19 deleting an asset 8 6 depreciation books 4 4 current 4 3 generating initial values 3 8 how current depreciation is calculated 4 8 how it is calculated 4 3 JCWAA special allowance 5 4 5 23 8 11 of active assets 4 3 projected depreciation report 5 27 trial depreciation 5 19 year to date 4 3 8 21 Depreciation Comparison Report function 7 3 produce before year end 7 31 report 7 5 screen 7 3 Depreciation subscreen 3 9 8 15 screen 8 15 Depreciation Summary Report function 7 9 produce before year end 7 31 report 7 10 screen 7 9 Depreciation Tables defined 3 7 function 1 6 3 7 5 21 8 35 Depreciation Tables function 8 16 Depreciation Tables List IX 2 function 9 9 list 8 52 Depreciation Tax Report 179 Expense Schedule report 7 26 179 Expenses Schedule 7 20 function 7 19 Listed Assets Schedule 7 19 Listed Assets Schedule report 7 26 New MACRS Assets Schedule 7 20 New MACRS Assets Schedule report 7 26 notes for Tax Form 4562 Summary 7 24 Other Depreciation Schedule 7 20 Other Depreciation Schedule report 7 27 produce before year end 7 31 Tax Form 4562 Summary 7 20 Tax Form 4562 Summary report 7 28 DPRTXxxx table 8 32 E e mail e mailing reports 1 32 F F2 Inquiry button 1 20 flag 1 25 F6 Maintenance flag 1 25 icon 1 20 FAMAxxx file 1 5 1 6 1 7 3 5 3 8 5 20 8 5 8 6 FARJxxx file 1 6 1 7 8 41 FATAX
113. g box appears after you select the range of information to include in the report EN Output Information elle Es LPL System Default Printer Laser ASt PDL Print Dialog Laser Standard Print Preview LPD System Default Printer Dot Matrix andar o PDF PDD Print Dialog Dot Matrix Compressed LPW System Default Printer Wide Carriage File PDW Print Dialog Wide Carriage Dot Matrix Email File Name data Q0000H pdf Browse OK Cancel If you use text screens these options appear at the bottom of the screen after you select what to include in the report and how to organize it Output P rinter p Rjeview F ile S creen e Mail find Print the Report Follow these steps to print a report 1 Select Printer in graphical screens or enter P in text screens 2 If multiple printers are available for the terminal either select the printer from the list or enter the appropriate code for the printer and press Enter Use the Devices function in Resource Manager to add printers to the terminal 3 When available select either Standard or enter S to print the report in standard width or Compressed or enter C to print it in compressed width 4 Click OK or press Enter to begin printing the report 5 If you want to stop printing after it has begun press Ctrl Break 6 Click OK or press Enter to continue 1 29 CHAPTER 1 Introduction Reports 1 30 Preview the Report The Print Preview option is only available fo
114. g up the ACPRDxxx table at any other time in the fiscal year you must determine what values to enter in these fields See Compute Period Depreciation on page 4 3 for more information about how the values are calculated When you enter the table ID the rest of the ACPRDxxx table appears E rate Eram Commands Edit Modes Other Help zxalae ma e ee Ox Abandon Table ID ACPRDH 4 Description Accounting Periods table Number of Cols 5 Column Length 12 Type A X Description Book Fed Tax Other A M T No Periods 12 12 12 12 This Year El 9 9 Begin Period 10 10 10 10 Endng Period 10 10 10 10 Fiscal Year 2007 2007 2007 2007 G L Period 10 10 10 10 Process 1 1 Company H 10 23 2007 Terminal T000 OVR Fixed Assets Tables Fixed Assets File Maintenance CHAPTER 8 In the No Periods 1 52 box enter the number of accounting periods in your book tax other and alternative minimum tax fiscal years The number of periods processed to date is stored in the This Year 1 52 box as you compute the period depreciation When you create the table leave this row blank The first period processed is stored in the Begin Period 1 52 box when you compute the period depreciation When you create the table leave this box blank The last period processed is stored in the Ending Period 1 52 box when you compute the period depreciation When you create the table leave this box blank
115. gabyte 1 MB of main memory to run More memory may be necessary in certain environments and operating systems Installing Fixed Assets Use the Install Applications function in Resource Manager see the Resource Manager User s Guide to install Fixed Assets No special considerations need to be made for Fixed Assets when you use this function 2 1 CHAPTER 2 Installation and Conversion Setting up Fixed Assets Once you have installed Fixed Assets on your system you must prepare your data files for everyday use You can prepare files for use with Fixed Assets in one of two ways you can create and set up your files manually on a new system or you can convert your old files when you upgrade from an earlier version To create files on a new system use the Data File Creation function on the Company Setup menu in Resource Manager see the Resource Manager User s Guide For instructions on converting your files see the Conversion section later in this chapter If you plan to use General Ledger with Fixed Assets you must set up your General Ledger accounts before you set up your Fixed Asset files 2 2 Fixed Assets Conversion o MM If you use an earlier version of OSAS Fixed Assets you can convert your files from the older version to the current version When you are ready to convert files use the Data File Conversion function on the Company Setup menu in Resource Manager see the Resource Manager User s Guide to
116. he column to copy B Book Default F Federal Tax O Other A Alternative Minimum Tax Enter a brief description of the asset Enter the percentage of time the asset is used for business purposes rather than for personal reasons The system uses this percentage to reduce the amount of depreciation Press Enter to place the asset in service on the displayed date or enter the date you placed the asset in service Fixed Assets Trial Depreciation Fixed Assets Forecasting CHAPTER 5 You must enter this date if you are using a depreciation table based on the month the asset was placed in service Field Periods per Year Depr Method or Table ID Recovery Period Description Press Enter to use the default from the ACPRDxxx table or enter the number of accounting periods in the fiscal year Enter the code for the method of calculating depreciation you want to use or enter the ID of the table containing the table driven depreciation method you want to use For more information about depreciation table names refer to the Depreciation Tables function see page 8 35 These are the valid codes for calculated depreciation None calculate no depreciation for this column SL straight line SLACRS straight line ACRS SYD sum of the years digits xxxDB declining balance where xxx is a percentage between 000 and 999 Enter the number of years in the asset s depreciable life The system u
117. iated by the column number see below The Depreciation Tables screen is divided into two parts the header information and the column data Header information The header information identifies the table 8 36 Fixed Assets Depreciation Tables File Maintenance CHAPTER 8 1 Depreciation tables are not company specific 2 If you set up your own depreciation tables do not use the letter M as the first character of the ID tables beginning with M are treated specially by the Fixed Assets system as MACRS tables Inquiry 1 Enter the table ID 2 The Copy From box appears only if you entered a new table ID To copy a table including the columns enter the table ID 3 Ifthe table is based on the asset s recovery period enter 0 in the Column Type box If it is based on the month the asset was placed in service enter 1 4 Ifthe table includes a maximum limit on annual depreciation in the Max Values box select the check box or enter Y in text mode if not clear the box or enter N in text mode 5 Enter the depreciation table description for example 5 Year Personal Property in the Description box What you enter in this field will appear in this field and in inquiry windows You can use the Delete F3 command to delete the header record and related columns After you have entered the header fields information approve your entries When you use the Proceed OK command to proceed you can enter column data
118. iation to zero Fixed Assets The Fixed Assets System Introduction CHAPTER 1 Fixed Assets When you use the Year End Maintenance function the system adds the year to date depreciation to the accumulated depreciation taken resets the YTD Depreciation field to zero adds the annual depreciation to the accumulated eligible depreciation and calculates the annual depreciation for the next year You can also delete specific retired asset records from the FARJxxx file during year end processing When you use the Retire Assets function the system enters a retirement date in the asset record in the FAMAxxx file changes the asset status to retired and posts all the asset depreciation fields to corresponding fields in the FARJxxx file A retirement record is created in the FARJxxx file using the information from the FAMAxxx file and information you enter during the retirement e Asset ID plus a 2 character retirement sequence number e Retirement reason e Retirement code e Retirement date e Quantity retired e Asset dollar value retired e Retirement proceeds e Retirement expenses e Retirement credits e Depreciation methods for each column from the FATAX file e General ledger asset account number The retirement record also includes these fields for each column Book FedTax A M T and Other e Depreciation beginning period and year e Depreciation ending period and year e Estimated and actual asset life Finally the sy
119. int indicates the half year column for example 4 5 The Copy From Table ID and the Copy From Column No prompts appear if you entered a new column number If the column you are creating is like another column in this or any other table you can save time by copying the existing column If the column you want to copy is in this table press Enter to accept the default table ID If it is not enter the ID of the table you want to copy from then enter the number of the column you want to copy Fixed Assets Depreciation Tables Fixed Assets File Maintenance CHAPTER 8 Enter the percentage that is on the same line of this column in the IRS depreciation table When you press Enter the cursor moves to the next Percent field in that section of the column until you reach the fifteenth Percent field in that section Then if you selected the check box or entered Y text mode in the Max Values field above the cursor then moves the first Maximum field below for that section of the column If you cleared the box or entered Nin text mode in the Max Values field the cursor skips the Maximum field and moves to the first Percent field in the next section of the column If you cleared the check box or entered N in text mode in the Max Values field you cannot access the Maximum column If you selected the check box or entered Y in text mode in the Max Values field you can enter the maximum values related to the percentages in
120. ion Report 072472007 Builders Supply Page E Projected Depreciation Report By Year Sorted by Asset ID Asset ID Description g GL Asset Account Date Placed Tax Cls Plant Division Departrent Year Accurulated Reraining Annual Current Accutulated Book Eligible Depr Depr Base Depreciation Depreciation Depreciation AUTO Autorobile Grey LMC 154000 2004 1245 Main Executive 2007 Book 6518 60 2981 40 315 10 315 10 7333 70 Fed Tax 8142 86 1357 14 1357 14 1017 86 9160 72 Other 8708 33 791 67 791 67 593 7 9302 08 A M T 9428 57 1571 43 1571 43 1178 57 10607 14 AUTO 04 2 Auto Stereo Syster 154000 03 31 2004 1245 Main Executive 2007 Book 875 83 354 25 141 71 141 71 1017 54 Fed Tax 875 83 354 25 141 71 141 71 1017 54 Other 875 83 354 25 141 71 141 71 1017 54 A M T 717 75 512 33 204 93 204 93 922 68 AUTO 07 Autorobile Tan LMC 154000 02 01 2007 1245 Main Executive 2007 Book 00 20735 00 3801 42 3801 42 3801 42 Fed Tax 00 20735 00 9077 43 7261 94 7261 94 Other 00 29235 00 13399 38 10719 50 10719 50 A M T 00 29235 00 21838 06 17470 45 17470 45 BUILDING Corporate Headquarters Bldg 151000 04 11 2005 1250 Main 2007 Book 12568 18 184931 82 7181 82 7181 82 19750 00 Fed Tax 12268 70 185231 30 7181 10 7181 10 19449 80 Other 12568 18 184931 82 7181 82 7181 82 19750 00 A M T 7773 44 169726 56 14143 88 14143 88 41917 32 KOMPUTER 04 Portable Corputer 153000 06 09 2004 1245 Main Sales Training 2007 Book 4047 57 1637 21 654 89 654 39 4702 46
121. ions 2 4 inventory tags 8 8 IRS 3 7 7 11 7 13 7 19 7 20 7 22 7 23 7 24 8 32 8 35 8 38 8 39 8 43 J JCWAA Special Allowance Schedule 7 20 L launching OSAS in other operating systems 1 9 OSAS in Windows 1 9 Lease vs Buy Analysis function 1 4 5 1 report 5 9 5 10 5 11 screen two 5 5 Lease vs Buy Analysis JCWAA special allowance 5 4 listed assets 8 8 Listed Assets Schedule 7 19 7 21 report 7 26 Lists printing 6 1 9 1 Loan Amortization function 1 4 5 13 schedule 5 17 IX 4 LOCATxxx table 3 7 7 4 7 10 7 12 8 12 8 33 screen 8 33 main menu graphical 1 14 MDI 1 15 navigating graphical 1 14 navigating MDI 1 15 navigating text 1 21 text 1 21 toolbars 1 19 Maintenance F6 flag 1 25 icon 1 20 mapping 1 20 1 25 Master File Lists Depreciation Tables List 9 9 Fixed Assets List 9 5 menu 1 5 Retired Assets List 9 11 Tables List 9 7 Master Lists printing 6 1 9 1 menus drop down menus 1 17 graphical main menu 1 14 MDI 1 15 shortcut 1 17 text main menu 1 21 messages in text mode 1 25 modes graphical 1 13 text 1 21 Modified Accelerated Cost Recovery System MACRS 7 19 N navigating graphical function screens 1 16 graphical main menu 1 14 MDI menu 1 15 Fixed Assets User s Manual text function screens 1 23 text main menu 1 21 to directories and files 1 20 New MACRS Assets Schedule 7 20 report 7 26 New MACRS Schedule 7 22 O Op
122. irement quantity percentage if other than 100 percent appears in the Retirement Amount box Press Enter to accept the default cost or enter the dollar value of the asset Note The retirement amount cannot exceed the value of the asset 8 43 CHAPTER 8 File Maintenance Retire Assets If you are retiring part of a multiple unit asset the dollar value of the retirement amount expressed as a percentage of the adjusted cost not the retirement quantity determines the percentage by which the other amount fields in the asset record are reduced For example if you have a four unit asset with a total adjusted cost of 1000 and you retire a quantity of 1 the calculated retirement amount is 250 and all the remaining dollar value fields in the asset record are reduced to 75 percent of their pre retirement value However if you change the retirement amount to 500 the dollar value fields for the remaining three units are reduced to 50 percent of their pre retirement value 7 Enter the amount of the funds derived from the retirement of the asset in the Retirement Proceeds box 8 Enter the expenses related to disposing of or retiring the asset in the Retirement Expenses box The system uses the net proceeds retirement proceeds less retirement expense in the Gains and Losses Report When you save your entries the second Retire Assets screen appears 8 44 Fixed Assets Retire Assets File Maintenance CHAPTER 8 Retire Assets
123. isted Assets Schedule is printed along with the total listed asset amount if not the assets are listed individually If more than three listed assets are placed in service during the tax year with 50 percent or less business use See Listed Assets Schedule is printed along with the total listed asset amount if not the assets are listed individually Sum of lines 23 column h and 24 column h Sum of lines 23 column i and 24 column i 7 25 CHAPTER 7 Year End Depreciation Tax Report Depreciation Tax Report Listed Assets Schedule 102472007 Builders supply Page 1 3 52 PM Depreciation Tax Report Listed Assets Schedule Bus Basis for Recov Depr Deductible Use Base Cost Depreciation Per Method Depreciation 179 Expense Asset ID Description Listed Properties AUTO 04 2 Auto Stereo Syster 1 100 1230 08 1230 08 5 AUTO Autorobile Grey LMC 1 75 11000 00 8250 00 3 Subtotal of assets with Tore than 50 business use Total of listed properties Depreciation Tax Report 179 Expense Schedule 10 24 2007 Bur ders supply Page 2 3 52 PM Depreciation Tax Report 179 Expense Schedule Recov Depr Deductible Asset ID Description Qty Base Cost Per Method Depreciation 179 Expense OFFICE 06 1 Refrigerator 1 1248 96 7 0 MO7Q1 200 74 00 COMPUTER 06 1 Color Monitor 1 1276 44 5 0 MO5Q1 248 90 00 COMPUTER 06 2 Corputer Equiprent 1 10552 26 5 0 MOSQ4 3007 40 00 Total of 179 Properties Not Listed
124. ixed Assets System o M Use the Fixed Assets system to calculate and track the value and depreciation of your company s fixed assets anything with a useful life of more than one year that is used to produce income and is not intended for sale Standard methods of tracking depreciation such as straight line sum of the years digits declining balance ACRS and MACRS are available The Fixed Assets system provides four sets of asset depreciation records book federal tax other and alternative minimum tax A M T In addition to calculating and tracking depreciation the Fixed Assets system offers a wide array of reports to help you keep on top of current depreciation It also offers planning utilities to help you determine the best methods for future depreciation Application Interaction Fixed Assets can be used as a standalone application but you can get optimal use from it when you interface it with General Ledger through the Options and Interfaces function in Resource Manager If Fixed Assets interfaces with General Ledger the account numbers you enter in the assets records must be set up in the GLMAxxx General Ledger Master file You can then use the Inquiry F2 command to look up and select general ledger accounts After you define the accounts in the assets records posting period depreciation debits the depreciation expense account and credits the accumulated depreciation account for the sum of the current deprecia
125. ixed Assets files and to prepare the system for another year of computing period depreciation Master File Lists Information that you enter in the File Maintenance functions is kept in master files Use the Master File Lists functions to produce the contents of the files details about assets depreciation tables and retired assets File Information Fixed Assets The information you enter in Fixed Assets functions is stored in files Fixed Assets uses three major files The FAMAxxx file holds arbitrarily defined attributes that you can assign to each asset This file serves as a permanent source of information data stays in this file until you remove it The Fixed Assets file is the backbone of the system It contains assets records and current year and historical depreciation information Use the Fixed Assets function to create fixed assets records 1 5 CHAPTER 1 Introduction The Fixed Assets System The FARJxxx file is an internal file created and maintained through the Retire Assets function You can use the Retirements Journal and the Retired Assets List to see the contents of this file When you retire an asset in part or in whole the system creates a retirement record in the FARJxxx file using information from the FAMAxxx file and information you enter during the retirement see File Interaction below The FATAX file contains the depreciation tables supplied by the IRS The original file with the established m
126. lications on investment credit A unit of information that has other pieces of information assigned to it Each record is assigned an ID so that the file can sort information in terms of record IDs Depreciation according to IRS endorsed rules A tax credit effective 1981 1986 granted for rehabilitating buildings or certified historic structures The tax credit percentage was based on various factors such as the age of the property The time between the present date and the end of an asset s depreciable life See also expired life Fixed Assets restore retirement Rule of 78s Section 179 expense service lease straight line depreciation method straight line loan type sum of the years digits depreciation method table tangible property Fixed Assets Glossary APPENDIX B To bring information back to its original place and condition See also purge Eliminating the asset from the system for example through sale trade donation abandonment or casualty A method of calculating interest on a loan in which 12 months is divided into 78 interest periods On a 12 month loan an individual would pay 12 78 interest in the first month A deduction that allows you to treat at least part of the cost of qualifying property as an ordinary expense rather than a capital expenditure in the first year it is placed in service For more information consult your accountant or financial controller A lease for a
127. n payment loan the system calculates the payment after you enter the balloon amount You cannot access this field If you are working with a straight line or rule of 78s loan and you left the Loan Principal field blank enter the periodic payment The system calculates the total principal and enters it in the Loan Principal field Fixed Assets 5 15 CHAPTER 5 Forecasting Loan Amortization Tf you enter figures in both the Loan Principal and Payment Amount fields the calculated principal based on the payment x the number of payments overwrites the loan principal you entered Field First Payment Amount Total Interest Total Payments Year From Thru Description This field appears only if you are working with a fixed principal loan The system calculates the amount after you enter the principal per period You cannot access this field The system calculates the total interest and total payments plus the balloon amount if any The system populates these fields based on the values you entered in the Payments Per Year and Total Number of Payments fields To produce the Amortization Schedule for one year enter the year in both the From and Thru fields To list a range of years enter the first year at From and the last year at Thru To produce the Amortization Schedule for the life of the loan press Enter at both From and Thru Select the output device to begin printing the report See Reports on page 1
128. need additional space or memory depending on the size of your data files and the operating system you use Consult your reseller for more information In Windows To start OSAS on a computer running Windows double click the OSAS shortcut on the desktop or access the program from the Start menu In Other To start OSAS on an operating system other than Windows enter osas at the Operating Operating system prompt If your operating system has graphical capabilities you Systems can also use the OSAS shortcut to start OSAS Using You can use the u c and t parameters in OSAS shortcut properties or after the Parameters osas command so that the system automatically uses the appropriate user ID and company ID to save time logging in In Windows open the OSAS shortcut s properties and enter these parameters after the path in the Target field as in the example below be sure to use the correct directories for your system C basis bin bbj exe osasstrt txt q tT00 cD osas70 progrm config bbx uSam cH Note In Windows the u and c parameters must follow the separation dash In other operating systems enter the parameters after the osas command as in this example osas t T2 c B Note You can enter these parameters in any order but you must leave a space between the parameter mark t or c and the parameter itself Fixed Assets 1 9 CHAPTER 1 Introduction Starting OSAS Refer to the Resource Manager User s Guide fo
129. ng See Reports on page 1 27 for more information After the log is printed the Period Work menu appears Post Period Depreciation Log Builders Supply Post Period Depreciation Arount Posted to GL Period 10 Credit ACCUM DEPR ACCUM DEPR ACCUM DEPR DEPR EXP ACCUM DEPR BALANCE 152500 153500 154500 521000 181000 urrent Fiscal Year 72 383 11 1266 10 1266 10 Builders Supply Post Period Depreciation FedTax Nurber of Periods Processed This Year Beginning Period to Process Now Ending Period to Process Now Post Depreciation to GL Period Nurber of Assets in File Nurber of Assets Processed Depreciation Posted for Depreciation Posted for Depreciation Posted for Depreciation Posted for End of Report Fixed Assets Book 1266 10 FedTax 1350 84 Other 1439 04 A M T 1841 41 4 13 CHAPTER 5 Lease vs Buy Analysis 5 1 Loan Amortization 5 13 Trial Depreciation 5 19 Projected Depreciation Report 5 27 Fixed Assets Forecasting Lease vs Buy Analysis Use the Lease vs Buy Analysis function to compare the costs and advantages of buying or leasing an asset After you enter the factors that define the lease and the purchase the system produces an analysis in the form of a report Then if you want to compare different factors simply change any of them that you like and produce the analysis again 5 1 CHAPTER 5 Forecasting Lease vs Buy Analysis Scre en
130. nt access by unauthorized people Use the Resource Manager Roles function to set up roles on your system You can set up roles for the Accounts Payable system itself for menus in the system and for individual functions To control users access to menus and functions you can set up an roles for each user or group of users that performs the same functions Different Roles for Each Company Roles are company specific When you set up a role the role is assigned the company you are in Because the roles are company specific you must set up roles for each company a user needs to access What Should Be Protected Because of the sensitive nature of some of the information in the Fixed Assets data files and reports you should limit access to the functions that provide confidential information or are sensitive to change For maximum security protect the Fixed Assets application itself each of the Fixed Assets menus and the individual functions For more information about roles see the Resource Manager User s Guide Backup Schedule 3 10 Plan a backup schedule before you begin day to day operations You can lose files because of disk drive problems power surges and outages and other unforeseen circumstances Protect yourself against such an expensive crisis by planning and sticking to a backup schedule Backing up Data Files Back up your Fixed Assets data files whenever they change every day or every week and before you
131. ntroduction Navigating OSAS The Address Mapping command is available when the Map flag appears at the bottom of the screen To view a map of the first address on the screen press Shift F4 To view a map of the second address if present press Shift F5 The second command is not available when there is only one address Note Before you can view maps you must set up mapping website information in the Resource Manager Web Setup function select the Map Lookup ID to use in the Resource Manager Company Information function and enter the path to your workstation s web browser in the Resource Manager Defaults function 1 26 Fixed Assets Reports MM OSAS applications contain a variety of reports that help you make the best decisions for your business With reports you can view transaction summaries print audit trails of activity managed through OSAS functions make lists of your basic master file information for reference and analyze all aspects of your company s cash flow This section summarizes the basics of using reports For detailed information on a specific report see that report s description in the appropriate section Selecting a Range of Information To produce a report you must specify what information you want to include in the report e To produce a report that includes all information available leave the From Thru fields on the report screen blank For example if you want to include information about all the ven
132. o back to the first Retire Assets screen To cancel the retirement exit to the File Maintenance menu When you click Retire Asset which approves the retirement the cursor returns to the Asset ID field enter another asset ID or exit to the File Maintenance menu Fixed Assets 8 45 Reinstate Assets MM Use the Reinstate Assets function on the File Maintenance menu to reinstate a previously retired asset to the active status You cannot reinstate assets that you retired under versions of OSAS Fixed Assets before 5 00 These earlier versions did not save all of the required data required to reinstate an asset There are no reports associated with this function Reinstate Assets Screen One When you select Reinstate Assets from the menu the Reinstate Assets screen Fixed Assets appears a Reinstate Assets elit Commands Edit Modes Other Help 2xt malma l ee ok _ Abandon Asset ID COMPUTER 03 63 Description Computer Equipment Sequence No 1 3 Acquisition Date 04 01 2003 Acquisition Cost 11021 00 Adjusted Cost 11021 00 Active Quantity 0 Credits Description Total Credits 00 Retirement Reason Obsolete Retirement Code o Retirement Date 10 23 2007 Retirement Quantity 1 Retirement Amount 11021 00 Retirement Proceeds 00 Retirement Expenses 00 Company H 10 23 2007 Terminal T000 OVR CHAPTER 8 File Maintenance Reinstate Assets 1 In the Asset ID box enter the full ID inclu
133. o go to a specific attachment line item this command is only available if there are more than six attachments to the e mail e Press H to change the header information of the e mail including the E Mail From field the recipient s the subject line and the attachment type e Press D when done entering the e mail information and you are ready to process the e mail 8 If you choose No in the Send E Mails Immediately option in the Resource Manager Options and Interfaces see Options and Interfaces List on page 3 47 the e mail will be held in the E Mail Queue for processing see E Mail Queue on page 3 49 Otherwise the e mail will be sent immediately Note To preserve formatting view e mailed reports or e mail attachments with a fixed width or monospaced font Courier or Lucida Console for example Edit Append Attachment dialog box The Edit Append Attachment dialog box appears when you press Enter or A in the Attachment File scroll region of the E Mail Information screen a Append Attachment fo es Commands Edit Modes Other Help 2 xG Ba ma 29 909 ok J Abandon File Name C OSAS76 data Onpqq79x005 TXT 1 Enter the File Name of the file you want to attach to the e mail or click the browse button C to navigate to the file 2 Use the Proceed OK command to add the attachment to the e mail and return to the E Mail Information Screen Fixed Assets Reports C
134. o the File Maintenance menu Fixed Assets Change Fields o M Use the Change Fields function on the File Maintenance menu to change any code used from one value to another The Change Fields function can change codes within this application as well as in other applications To produce a list of fields changed use the Print Log feature A sample of the log appears on page 8 52 When you select Change Fields from the File Maintenance menu the Change Fields screen appears f Change Fields ple Commands Edit Modes Other Scroll Commands Help 2xt mealmalz lee a Abandon Field ID FA ASSET ID 4 Print Log Original Value New Value File Description Time Tag COMPUTER 03 LAPTOP 03 E FA Retirement Journal Fil Short a 4 FA Asset Documents File Short Y 2 a a e m G E E Ez E E Line No 000001 of 000001 Begin code change Header Field ID Years Switch to tag J Enter edit Append None Go te Company H 10 23 2007 Terminal tooo OVR Fixed Assets 8 49 CHAPTER 8 File Maintenance Change Fields Header Values 8 50 The screen contains three sections The top Header section which includes the Field ID and Print Log fields is where you select the code or ID to change and whether or not you wan
135. od depreciation e Printed the Period Depreciation Journal e Checked the amounts to be posted e Backed up your data files If you have a multiuser system make sure that no one else is using the Fixed Assets system You cannot post if someone else is using Fixed Assets functions Select Post Period Depreciation from the Period Work menu The function screen appears a Post Period Depreciation aji Commands Edit Modes Other Help 2xt malma ee OK Abandon Have you Printed and verified period depreciation Made a backup of your data files y Post To irent Fiscal Year 2007 Last Fiscal Year 2006 Process Book FedTax Other AMT Current Fiscal Year 2007 2007 2007 2007 Number of Periods in Fiscal Year 12 12 12 12 Number of Periods Processed This Year 9 9 9 9 Beginning Period to Process Now 10 10 10 10 Ending Period to Process Now 10 10 10 10 Post Depreciation to GL Period 10 CompanyH 10 23 2007 Terminal tooo ovR 1 Ifyou have not printed and verified period depreciation and backed up your data files clear the check box or enter N in text mode When you have done these things select the box or enter Y in text mode 4 12 Fixed Assets Post Period Depreciation Period Work CHAPTER 4 If Fixed Assets interfaces to General Ledger and last year files exist in General Ledger select the year to which you want your depreciation entries posted Select the output device to begin posti
136. olumn enter the amount of credits to apply The total credits from the Credits field on the Valuation and Credits subscreen appears at the bottom of the screen 5 23 CHAPTER 5 Forecasting 5 24 Field Other Bonus Depr Prior Eligible Depr Prior Depr Taken No Years in Prior Depr Trial Depreciation Description The bonus depreciation is an extra amount the government lets you take with some qualifications consult your accountant during the first year of an asset s life If the asset is eligible for bonus depreciation enter it here If the JCWAA Special Allowance check box is selected the system calculates a default value for the Other Bonus Depr field using this formula Base Cost Salvage Value 179 Expense Applied Credits JCWAA Percent from the JCWAA table A message box at the bottom of the screen displays the amount calculated If the Other Bonus Depr values are zero this amount defaults into the Other Bonus Depr field You can change the calculated amount if necessary but the amount that appears in the message box at the bottom of the screen stays the same For a new undepreciated asset press Enter to skip this field If you took depreciation on the asset in previous years enter the total potential depreciation assuming 100 percent business use you could have taken at the end of the last fiscal year For a new undepreciated asset press Enter to skip this field If you took
137. ommands Introduction CHAPTER 1 Use the following commands when a report appears on the screen Key Operation PgUp PgDn Home End F7 Left Right Tab Up Down Moves to the previous page of the report Moves to the next page of the report Moves directly to the top of a group of pages Moves directly to the bottom of a group of pages Exits to the menu from any point in the report Moves left one character Moves right one character Toggles between the left and right halves of a report Moves a line up and down the screen to line up information when you toggle between halves of a report Using Report Pick Screen Criteria You can save the pick criteria from any report screen to make it easier to run reports without redefining the criteria each time The RM option to Use Report Defaults must be set to Yes to use this functionality After you choose to print a report the Save Report Criteria screen appears EN Save Report Criteria fee Ea Commands Edit Modes Other Help xt Bea ma 8 OK Abandon Status Bar Fixed Assets Save as Personal Report Picks M Save as Global Report Picks Y Description Northeast Region Requisition Report Set as Personal Default y Set as Global Default Company H 10 20 2010 Terminal T000 OVR 1 35 CHAPTER 1 Introduction Reports 1 36 e Check the Save as Personal Report Picks box save the pick criteria for
138. on s files A reduction in income tax liability effective 1981 1986 granted by the federal government for purchasing new or used depreciable property The amount of the credit was limited to 10 percent of the eligible investment or to the taxpayer s tax liability whichever was less Three options for modifying the basis of investment tax credit property placed in service after 1982 and before 1987 or otherwise compensating for regular energy and certified historic structure investment credits The first reduced the original basis by half the ITC amount the second reduced the percentage of the credit taken by two points without changing the original basis the third took the whole ITC amount without changing the basis The third method was valid only for assets placed in service before 1981 A chronological record of transactions Transactions recorded in a journal An agreement conveying the right to use a property plant or equipment for a stated period The person who leases the property The person who owns the leased property A list of applications functions options or other menus The method prescribed by the IRS for calculating depreciation on assets placed in service after 1986 The MACRS system is like the ACRS system but it uses revised tables and different recovery rates See also ACRS Depreciation starts the month after acquisition and ends the month after retirement Fixed Assets month of depreciation
139. on Tables Select Depreciation Tables from the File Maintenance menu The Depreciation Tables screen appears a Depreciation Tables cj Commands Edit Modes Other Help 2xt malma l2 ee Table ID MIOP 4 Column Type 0 Recovery Period Max Values a Description MACRS 10 Yr Personal DB sw2 SL Mid Year Column No 4 Percent Maximum Percent Maximum Percent Maximum Percent Maximum 1 oot 10 116 000 10 31 000 JO 46 100 00 2 oot 10 117 000 0 32 oot JO 47 00 3 000 00 18 000 00 33 000 00 48 000 4 000 00 119 000 10 34 000 00 49 000 00 5 000 10 20 000 0 35 000 10 50 100 00 6 oot 00 21 000 0 36 000 DO 51 100 7 000 00 22 000 00 37 000 00 52 000 8 000 00 23 00 38 000 00 53 000 00 9 000 00 24 00 39 000 00 54 000 00 10 000 00 25 00 40 000 00 55 000 0 11 000 00 26 00 41 000 00 56 000 00 12 000 00 27 00 42 000 oo 57 000 00 13 000 0 28 00 43 000 00 58 000 0 14 000 0 29 000 00 44 000 00 59 000 15 000 0 30 000 00 45 000 00 60 000 D by Recovery Pd 1 by Month Placed in Service 2 by Year Placed in Service Company H 1072372007 Terminal T000 OVR Because most depreciation tables do not fit on one screen you work with one column at a time The column has four sections which appear side by side lines 1 15 lines 16 30 lines 31 45 and lines 46 60 All the screens that is columns belonging to one table have the same table ID but are different
140. on by the number of periods in the fiscal year and places the result in the Current Depreciation field For example 1f you have an asset with an annual depreciation of 1200 use a 12 period fiscal year and compute depreciation for only one period the system divides 1200 by 12 and puts 100 in the Current Depreciation field Current and Year to Date Depreciation When you use the Post Period Depreciation function the amount in the Current Depreciation field is added to the amount in the YTD Depreciation field and the Current Depreciation field is reset to zero If Fixed Assets interfaces with General Ledger the total Book column current depreciation for active assets is debited to the depreciation expense account and credited to the accumulated depreciation account Fixed Assets 4 3 CHAPTER 4 Period Work Compute Period Depreciation Select Compute Period Depreciation from the Period Work menu The Compute Period Depreciation screen appears m A Compute Period Depreciation ERA Commands Edit Modes Other Help zxalae ma e ee 05 bandon Process Book al Fed Tax E Other Y AMT E Book FedTax Other AMT Current Fiscal Year 2007 2007 2007 2007 Number of Periods in Fiscal Year 12 12 12 12 Number of Periods Processed This Year 9 s 9 9 Beginning Period to Process Now 10 10 10 10 Ending Period to Process Now 10 10 10 10 Post Depreciation to GL Period Company H 10 23 2007 Terminal tooo OVR Th
141. or business 100 percent of the time all the depreciation accumulates in this field If the asset is used for business less than 100 percent of the time only the business portion of the depreciation accumulates in this field See also accumulated eligible depreciation The total amount that an asset has depreciated before the current fiscal year for both business and nonbusiness use B 1 APPENDIX B Glossary adjusted basis Alternative Minimum Tax depreciation A M T amortization application asset Asset Depreciation Range System ADR asset ID asset tag number back up balloon payment The basis used to compute gain or loss on disposition of an asset for tax purposes One of four sets of asset depreciation records provided by the Fixed Assets system A M T records are normally kept to provide an alternative way of calculating depreciation for federal tax purposes See also Book depreciation FedTax depreciation and Other depreciation The systematic allocation of the cost of an asset over the accounting periods a company benefits from the asset Amortization is used specifically in discussions of the attrition of intangible assets but depreciation of plant assets and depletion of wasting assets are also forms of amortization A software package made up of several related programs functions and files Usually an application is named after a common accounting practice for example Accounts
142. ort Year End CHAPTER 7 Information for Part IV Part V Sections B and C and Part VI of IRS Form 4562 is not included in the Fixed Assets system these sections of the form must be figured manually Select Depreciation Tax Report from the Year End menu The Depreciation Tax Report screen appears a Depreciation Tax Report loe Commands Edit Modes Other Help 2xt malma l2 ee Tax Year Dollar Rounding Print Listed Assets Schedule E 179 Expenses Schedule E New MACRS Assets Schedule E Special Allowance Schedule E Other Depreciation Schedule E Tax Form 4562 Summary E Maximum Dollar Limitation 108000 00 Threshold Cost 179 Expense 430000 00 Prior Yr Disallowed Deductions 00 Tax Year Taxable Income 00 Do You Have Evidence of Business Use Claimed E Is Evidence Written M Company H 10 23 2007 Terminal T000 OVR Fixed Assets Field Tax Year Dollar Rounding Print Listed Assets Schedule Description Enter the tax year for which you want to prepare the report Select or clear the check box or enter Y or N in text mode to indicate whether you want all dollar amounts in the report to be rounded to the nearest whole dollar Select or clear the box or enter Y or N in text mode to indicate whether you want to produce the Listed Assets Schedule 7 21 CHAPTER 7 Year End Field Print 179 Expenses Schedule Print New MACRS Assets Schedule Print JCWAA S
143. ost recent tables comes with the Fixed Assets system As tax regulations change use the Depreciation Tables function to revise the tables and add new ones The FATAX file is read by functions throughout the Fixed Assets system Most important the Year End Maintenance function uses it to calculate annual depreciation for the next year Note The FATAX file supplied with Fixed Assets version 4 00 and higher is markedly different from that supplied with Fixed Assets version 3 x If you are upgrading from Fixed Assets version 3 x see chapter 2 File Interaction 1 6 The Fixed Assets application tracks asset depreciation General information about assets insurance and credits taken against assets and information asset depreciation calculations are based on and the results of the calculations that are kept in the FAMAxxx file When you create an asset record you define the estimated annual depreciation for the first year of the asset s life the depreciation method is stored in the FATAX file When you use the Compute Period Depreciation function the system divides the annual depreciation by the number of periods you are processing multiplies the result by the percentage of business use and enters the product in the Current Depreciation fields in the columns you are processing When you use the Post Period Depreciation function the system adds the current depreciation to the year to date depreciation and resets the current deprec
144. ou can change a few numbers and produce another analysis When you are finished exit to the Forecasting menu 5 8 Fixed Assets Lease vs Buy Analysis page 1 Fixed Assets Starting Year of Analysis Nurber of Years to Analyze Date Placed in Service Type of Lease Prepayrent Payrent Arount Nutber of Payrents Payrents per Year Nurber of ist Year Payrents Credit to Take Expenses Net Present Value of Lease Base Cost Depreciation Method Table ID Recovery Period Switch to Method Estirated Life in Periods Depreciation Begin Period Depreciation End Period Salvage Value 179 Expense Applied Credits Other Bonus Depreciation Lease vs Buy Analysis 2007 05 10 24 2007 OPERATING 10000 00 2750 00 48 12 03 00 275 00 126801 31 Lease 126801 31 Trial 1 Forecasting CHAPTER 5 Effective Tax Rate Increrental Borrowing Rate Corpounded Investrent Rate Discount Rate Cash Price Credit to Take Expenses Special Allowance Percent 117500 00 SL 10 0 NONE 120 10 2007 09 2017 117500 117500 00 morP 7 0 NONE 34 10 2007 10 2014 5 9 CHAPTER 5 Forecasting Lease vs Buy Analysis page 2 10 24 2007 2 49 PM Tax Savings at Tax Rate of 22 Lease Payrents Expensed Arount Interest Incore Net Expenses Tax Savings on Expenses Tax Credits Total Tax Savings Net Present Value at 06 P amp L Effect Lease Payr
145. ou use you can have as few as one or as many as 52 accounting periods in a year You must type the period number press Enter and then type the year and press Enter again Field Depreciation End Period Description After you enter the beginning accounting period and year the system uses the number of periods in the asset s estimated life that you entered to calculate the last period and year of depreciation Fixed Assets Trial Depreciation Field JCWAA Special Allowance Base Cost Salvage Value 179 Expense Applied Credits Fixed Assets Forecasting CHAPTER 5 Description Enter the percentage to use for the JCWAA Special Allowance for assets acquired and placed in service after September 11 2001 From September 11 2001 to May 5 2003 companies may take an additional 30 special depreciation allowance on qualified assets in the first year of the asset s life From May 5 2003 onwards companies may take an additional 50 special depreciation allowance The amount taken reduces the depreciable base of the asset for normal depreciation calculations Enter the base cost the acquisition cost plus depreciable expenses minus other adjustments of the asset Enter the estimated salvage value the asset will have at the end of its useful life If you want to claim all or part of the cost of the asset as a Section 179 expense enter the amount to be expensed If you want to apply credits to this c
146. ount below If you are working with a balloon payment loan enter the loan principal If you are working with a fixed principal loan enter the loan principal or press Enter to leave this field blank If you leave the field blank the system calculates the principal after you enter the principal per period below Enter the yearly compounded interest rate Enter the total number of payments you will make during the life of the loan This field appears only if you are working with a balloon payment loan Enter the balloon payment The balloon payment cannot exceed the amount you entered in the Loan Principal field Fixed Assets Loan Amortization Forecasting CHAPTER 5 Field Description Principal Per Period This field appears only if you are working with a fixed principal loan If you entered an amount in the Loan Principal field leave this field blank The system calculates the principal for each period If you did not enter an amount in the Loan Principal field enter the principal to be paid in each payment The system calculates the total principal and enters it in the Loan Principal field Payment Amount This field does not appear if you are working with a fixed principal loan See First Payment Amount below If you are working with a straight line or rule of 78s loan and you entered an amount in the Loan Principal field press Enter The system calculates the payment If you are working with a balloo
147. ournal Purchase TX0001 6 0000 PKG 12 14 2010 4 a Ce heat nd Adjustment 250 MN0001 15 0000 CS 12 14 2010 2 2 32 Post GL Adjustments Adjustment 250 TX0001 32 0000CS 12 14 2010 2 Reorder Processing Purchase 350 CA0001 2 0000EA 12 14 2010 4 Reports Adjustment 700100 MN0002 170 0000 EA 12 14 2010 2 Analysis Reports Productivity Rpts Inventory Productivity Rpts Lot Serial Periodic Processing Physical Inventory File Maintenance Code Maintenance Master File Lists Master Codes List z 8 E a aaa Line No 000001 of 000005 C Reconciliation BOM Kitting Enter edit Gott Adjustment fr Sale i Purchase DD FA GL GN IN Jo Company H 12 29 2010 Terminal T000 OVR You can move around the MDI menu these ways To view an application s menus click that application s tab To view the functions a menu contains click the menu name The menu expands to list the functions it contains Click the function name to enter the function The function screen appears in the right pane To exit from a menu click a different menu name or application tab To exit from OSAS click the Close box in the upper right corner of the screen press F7 or select Exit from the File menu CHAPTER 1 Introduction Navigating OSAS Function Screens Graphical screens contain the same functionality as text screens
148. pecial Allowance Schedule Print Other Depreciation Schedule Print Tax Form 4562 Summary Maximum Dollar Limitation Threshold Cost 179 Expense Depreciation Tax Report Description Select or clear the box or enter Y or N in text mode to indicate whether you want to produce the 179 Expenses Schedule Select or clear the box or enter Y or N in text mode to indicate whether you want to produce the New MACRS Assets Schedule Select or clear the box or enter Y or N in text mode to indicate whether you want to produce the JCWAA Special Allowance Schedule Select or clear the box or enter Y or N in text mode to indicate whether you want to produce the Other Depreciation Schedule Select or clear the box or enter Y or N in text mode to indicate whether you want to produce the Tax Form 4562 Summary This field appears only if you elected to print the Tax Form 4562 Summary Enter the maximum amount of section 179 deduction you can claim For information see the IRS document Instructions for Form 4562 The amount you enter here appears on line one of the Tax Form 4562 Summary section of the report This field appears only if you elected to print the Tax Form 4562 Summary Enter the threshold cost of section 179 property before reduction in limitation The amount you enter here appears on line three of the Tax Form 4562 Summary section of the report Fixed Assets Depreciation Tax Report
149. pecial allowance for qualified New York Liberty or Gulf Opportunity Zone property placed SAAS in service this tax year and used tore than 50 in a qualified business use 25 00 26 Property used tore than 50 in a qualified business use see instructions Auto Stereo Syster 03 31 2004 100 0 1230 08 1230 08 0 2200 HY 106 28 00 Autorobile Grey LMC 05 142004 75 0 11000 00 8250 00 3 0 S HY 1017 86 00 5 2 Property used 50 or less in a qualified business use see instructions 8 in 28 Add arounts in colutn h Enter the total here and on line 21 page 1 29 Add arounts in colutn 1 Enter the total here and on line 7 page 1 28 1124 14 29 End of Report Fixed Assets 7 29 Year End Maintenance Te Use the Year End Maintenance function for these tasks e Add year to date depreciation to accumulated depreciation taken e Add annual depreciation to accumulated eligible depreciation e Reset the YTD Depreciation field to zero e Calculate projected annual depreciation for next year e Increment the This Year field ACPRDxxx table by one e Reset the Begin Period Ending Period and Process fields ACPRDxxx table to zero e Delete assets retired before a date you specify You can perform year end maintenance for selected or all columns Before Year End Before you begin you must complete depreciation processing and post the periods for the columns you plan to
150. period considerably shorter than the usable life of the asset in which the lessor is responsible for maintenance and taxes and the lessee does not acquire the asset at the end of the leased term See also capital lease A nonaccelerated depreciation method in which the acquisition cost of property is written off in equal amounts during the estimated useful life of the asset Total interest expense spread evenly over the life of the loan An accelerated depreciation method in which annual depreciation is calculated by multiplying the acquisition cost of the asset less its estimated salvage value times a fraction The numerator of the fraction is the number of years in the asset s remaining life at the beginning of the year the denominator is the sum of the years digits The Fixed Assets system uses an alternate method applying a factor to the unrecovered cost rather than to the original cost which compensates for errors in calculating the depreciation from previous years and assures that the asset s unrecovered cost will be zero at the end of its useful life A grid that holds records and is visible See also file Property that can be seen or touched See also intangible property B 9 APPENDIX B Glossary zero and full No depreciation is taken in the year of acquisition and a full year s depreciation is taken in the year of retirement B 10 Fixed Assets Numerics 179 Expense Schedule report 7 26 179 Expenses Sch
151. ple data and perform tasks related to the function you are using These commands are analogous to the commands contained on drop down menus in graphical mode You access commands by pressing the hot key combination for the command you want to use If you re working with a keyboard that lacks function keys labeled with an F followed by a number or if you re working with an emulator in UNIX which can cause function keys to become unavailable press the appropriate alternate key combination to access the command Refer to Appendix B in the Resource Manager User s Guide for a list of all OSAS commands and their associated hot keys Not all commands are available for every function or field when a command is available a flag appears at the bottom of the function screen Common flags include Quick Info Maint Inquiry and Verify e The Quick flag reminds you that you are using the Quick Entry mode to skip fields that are not required Press Ctrl F to toggle quick entry on and off When the Info flag appears press Shift F2 to access the Information menu to access additional information about a customer vendor item job bill of material or employee See page 1 17 for more information on this menu Fixed Assets Navigating OSAS Introduction CHAPTER 1 Fixed Assets When the Maint flag appears press F6 to launch the appropriate File Maintenance function to edit a master file record or enter a new one on the fly Wh
152. pplied Credits Enter the credit you want to apply against the base depreciable value of the asset If you entered an amount in the Credit to Take field on the first Lease vs Buy Analysis screen that amount appears at the bottom of the screen Fixed Assets 5 7 CHAPTER 5 Forecasting Field Other Bonus Depr Description The bonus depreciation is an extra amount the government lets you take with some qualifications during the first year of an asset s life If the asset is eligible for bonus depreciation enter the amount If the JCWAA Special Allowance check box is selected on the first Lease vs Buy Analysis screen the system calculates a default value for the Other Bonus Depr field on the second Lease vs Buy Analysis screen using this formula Base Cost Salvage Value 179 Expense Applied Credits JCWAA Percent from the JCWAAx table A message box at the bottom of the screen displays the amount calculated If the Other Bonus Depr values are zero this amount defaults into the Other Bonus Depr field You can change the calculated amount if necessary but the amount that appears in the message box at the bottom of the screen stays the same Select the output device to begin printing the report See Reports on page 1 27 for more information After the analysis is generated the first Leave vs Buy Analysis screen appears and the Trial Number field is incremented by one Because your entries are preserved y
153. presented in a graphical format that includes easy access to commands via the mouse N Tax Locations n foe x Commands Edit Modes Other Scroll Commands Help RX tz Tax Location MN 4 Name Tax Level 1 Tax ID Authority MN Tax on Freight Tax Liability Acct 800 Tax Refundable Acct Class Description Sales Tax Purch Tax Tax Paid Consumer Goods o1 Resale Sales 0 000 0 000 00 00 4 102 Exempt Sales 0 000 0 000 00 00 a 03 Ind Agr Prod 0 000 0 000 00 00 04 Interstate Comm 0 000 0 000 00 00 jos Motor Vehicles 0 000 0 000 00 00 06 Food Products 0 000 0 000 00 00 07 Clothing 0 000 0 000 00 00 os Gasoline 0 000 0 000 oo 00 log Services 0 000 0 000 00 00 E Total 1307 00 00 Calculated 1307 01 00 Over Short 01 00 Enter edit IaxLoc First Last Next Prev view Header Goto Class Company H 10 04 2007 Terminal T000 OVR You can move around the screen in these ways Use the mouse or press Tab to move from field to field Use the scroll buttons to move from line to line in scrolling regions e Ifa screen appears prompting for the kind of information to enter or maintain such as on File Maintenance or Transactions screens select the appropriate option and click OK to continue e Press Page Down if prompted to move to the next section e Click Header when it appears to return to the screen s header sec
154. printing For example ifthe screen for the list you want to print does not contain check box options ignore that step and continue to the next Follow these steps to print a master list Fixed Assets 9 1 CHAPTER 9 Master File Lists Select the list you want to print from the Master File Lists menu The selection screen for that list appears The Fixed Assets List screen is shown below as an example f Fixed Assets List Commands Edit Modes Other Help 2xt salaal elee 06 Abandon Asset ID From a Print by Thru a Asset ID Tag Number From Tag Number Thru GL Asset Acct GL Asset Acct From Location Thru Plant From Thru Status Division From Active Thru Retired Department From New Thru Suspended All Print Summary Print Documents Detail Company H 10 23 2007 Terminal T000 OVR Select the range of values to print on the report in the list boxes Leave these fields blank to select all values or enter values into a combination of fields to select specific information to print on the list The Inquiry F2 command is usually available with these list boxes If the screen contains selection options as in the Print Print By and Status boxes in the example select the option to use when printing the list You can select only one option If the screen contains check boxes select the check box or press Y in text mode to print that type of information in the list Clea
155. process Back up your data files and print these reports e Additions Journal page 6 3 e Retirements Journal page 6 5 e Depreciation Comparison Report page 7 3 e Gains and Losses Report page 7 7 e Depreciation Summary Report page 7 9 e Credit Summary Report page 7 11 e Credit Recapture Report page 7 13 e Property Assessment Schedule page 7 15 e Depreciation Tax Report page 7 19 Fixed Assets 7 31 CHAPTER 7 Year End Year End Maintenance 7 32 Select Year End Maintenance from the Year End menu The Year End Maintenance screen appears a Year End Maintenance Commands Edit Modes Other Help 2xt malma l2 ee o Have you Processed All Periods Printed the Year End Reports Printed the Retirements Journal Printed the Additions Journal Backed Up Your Data Files Y Remove Assets Retired Before 10 23 2007 El Process Book Y FedTax Y Other Y AMT Y Company H 10 23 2007 Terminal To00 OVR In the Have you section of the screen if you have not completed period processing and printed the necessary reports clear the check box or enter N in text mode When you have done these things select the box or enter Y in text mode If you want to remove retired assets records enter a date in the Remove Assets Retired Before box Assets records containing a retirement date earlier than the date you enter are deleted In the Process section you can sele
156. ption to sort the information differently Sorting by alphabetical codes or IDs is easy For example the ID ACL comes before the ID BB because A comes before B Use caution when you enter codes or IDs consisting of characters other than letters the order might not be what you expect For example if 20 items are labeled 1 through 20 and all are included in a report you might enter 1 at From and 20 at Thru expecting them to be listed 1 2 3 19 20 However since OSAS sorts in alphabetical order rather than numerical order the numbers are listed in this order 1 10 19 2 20 In this example numbers 3 9 are not included in the sort since they fall after 20 in an alphabetical sort To prevent this situation pad extra spaces in codes and IDs with zeros so that numbers in alphabetical order are also in numerical order In the example above the items could be labeled 000001 through 000020 Outputting Reports 1 28 You can output reports in a variety of ways but keep in mind that the mode you use controls which output options are available to you If you use graphical function screens you have the following output options Printer Print Preview PDF File or E mail for selected reports If you use text function screens you have these options Printer File Screen or E mail for selected reports Fixed Assets Reports Introduction CHAPTER 1 Fixed Assets If you use graphical screens the Output Information dialo
157. r asset account numbers you want to include in the schedule or leave the boxes blank to include all numbers The Inquiry F2 command is only available if Fixed Assets interfaces with General Ledger Enter the range of percentages of business use you want to include in the schedule or leave the boxes blank to include all percentages Enter the range of assessment dates you want to include in the schedule or leave the boxes blank to include all dates Select the type of property you want to include to include in the schedule Select the statuses of the assets you want to include in the schedule Select the output device to begin printing the report See Reports on page 1 27 for more information After the list is produced the Year End menu appears Fixed Assets Property Assessment Schedule Property Assessment Schedule Year End CHAPTER 7 10 24 2007 3 50 PM Asset ID STATE MN OFFICE 03 OFFICE 04 COMPUTER 03 COMPUTER 04 COMPUTER 04 COMPUTER 05 COMPUTER 05 COMPUTER 06 COMPUTER 06 COMPUTER 07 COMPUTER 07 OFFICE 05 OFFICE 05 OFFICE 05 OFFICE 05 OFFICE 06 OFFICE 7 AUTO AUTO 04 AUTO 7 GRAND TOTAL Fixed Assets TOTAL FOR MN End of Report BRRWNENENE WHEE Description Office Equiprent Office Equiprent Corputer Equiprent Portable Corputer Corputer Equiprent Portable Corputer Corputer Equiprent Color Monitor Corputer Equiprent Color Monitor Corputer Equiprent
158. r graphical workstations However before Print Preview will work in Windows you must add a sysprint device line in the config bbx file for that workstation Use the Devices function on the Resource Manager User Setup menu to add this line Follow these steps to view a report using Print Preview 1 Select Print Preview in graphical screens 2 If multiple printers are available for the terminal either select the printer from the list or enter the appropriate code for the printer and press Enter Use the Devices function on the Resource Manager Installation and Configuration menu to add printers to the terminal 3 Click OK or press Enter to continue 4 When available either select Standard or enter S if you want to view the report in standard width or select Compressed or enter C if you want to view it in compressed width 5 Press Enter The Print Preview screen displays the report as it will look when printed out in hard copy 6 To print from this screen select Print from the File menu To exit from this screen select Exit from the File menu Save the Report as a PDF PDF output is available for OSAS systems using BBj The data path set up for the workstation in the Preferences function appears If necessary enter a new data path or click the Browse button to navigate to the correct directory then enter the file name followed by the PDF extension The file name plus extension that you enter must be less than 35 characters
159. r more information on these parameters Logging In After you start OSAS the login screen appears version 7 6 Copyright 1982 2010 This program is protected by U S and International copyright laws To log in to OSAS enter your User ID the Company ID you want to work with and your Password If you want to save your password so that you do not need to enter it again select the Save Password check box or enter Y in text mode to save your information This check box appears only if the Remember Password option is selected for your user ID in the Users function in Resource Manager Check the Change Password box to change your password upon logging in You will be prompted to enter and confirm your new password Finally press Enter or click OK to log in This screen appears only after you have set up the system including setting up users See the Resource Manager User s Guide for information on setting up users and roles 1 10 Fixed Assets Starting OSAS Introduction e CHAPTER 1 Roles Roles limit use of the system and protect sensitive information Each role allows access to specific applications menus and functions If you cannot select a menu or function your assigned role is not authorized for it Use the Roles function in Resource Manager to set up roles Workstation Date To change the workstation date select Workstation date from the File menu click the Change Date button on the toolbar or pr
160. r the check box or press N in text mode if you do not want to print that type of information in the list Fixed Assets Master File Lists e CHAPTER 9 5 Select the output device to begin printing the report See Reports on page 1 27 for more information After you produce the list the Master File Lists menu appears Fixed Assets 9 3 Fixed Assets List The Fixed Assets List contains the data you entered through the Fixed Assets function Use the list to review asset identification acquisition valuation and depreciation information Sample List 10 24 2007 Builders supply Page 1 14 56 PM Fixed Assets List Surrary By Asset ID DATE MANUFACTURER SERIAL NUMBER ASSET ID DESCRIPTION ACQUIRED QTY MODEL NUMBER TAG NUMBER AUTO Autotobile Grey LMC 03 14 2004 1 LMC 1234 4567 8901 100 DX MY CAR AUTO 04 2 Auto Stereo Syster 03 31 2004 1 Clear Sound 45 121 8974 1200 45127 AUTO 07 Autorobile Tan LMC 02 01 2007 1 LMC 352345 SFD 87ADFS799 100 DX BUILDING Corporate Headquarters Bldg 04 11 2005 1 wilson Construction Custor 1234 Parklane Road COMPUTER 03 Corputer Equiprent 04 01 2003 1 Various COMPUTER 04 Portable Corputer 06 09 2004 1 Kirby 3464257636 Portable 4 45139 COMPUTER 04 1 Corputer Equiprent 03 31 2004 1 Various COMPUTER 05 1 Portable Corputer 06 02 2005 1 Sherwood 314653214 Portable 80 45256 COMPUTER 05 3 Cotputer Equiprent 04 01 2005 1 Various COMPUTER 06 1 Color Monitor 05 17 2006 1 wayne 35463568 600 45199 COMPUTE
161. rance 04 01 00 Assesstent 1091 47 Insurance 06 09 4400 00 Assesstent 1521 70 Insurance 03 31 00 Assesstent 1530 29 Insurance 06 02 00 Assesstent 2819 24 Insurance 04 01 00 Assesstent 553 13 Insurance 00 Assesstent 6683 09 Insurance 00 Assesstent 944 57 Insurance 05 22 00 Assesstent 057227 Date 2004 2004 2004 2007 2007 2005 2006 2003 2004 2004 2005 2005 2007 2007 PAGE ER Current Replace Cost Value at Risk 3000 00 4500 00 3000 00 4500 00 1000 00 1000 00 00 00 35735 00 35735 00 35000 00 35000 00 44735 00 32235 00 43000 00 30500 00 197500 00 197500 00 222790 00 222790 00 197500 00 197500 00 222790 00 222790 00 11021 00 11021 00 00 00 5684 78 1284 78 00 4400 00 7925 47 7925 47 00 00 4782 17 4782 17 00 00 8810 12 8810 12 00 00 1276 44 1276 44 00 00 10552 26 10552 26 00 00 1276 44 1276 44 1300 00 1300 00 Fixed Assets 6 7 CHAPTER 7 Depreciation Comparison Report 7 3 Gains and Losses Report 7 7 Depreciation Summary Report 7 9 Credit Summary Report 7 11 Credit Recapture Report 7 13 Property Assessment Schedule 7 15 Depreciation Tax Report 7 19 Year End Maintenance 7 31 Percent of Business Use Report 7 35 Fixed Assets Year End Introduction Perform the functions explained in this chapter in the sequence they are presented Each report explained before the Year
162. rcentage to use for the JCWAA Special Allowance for assets acquired and placed in service after September 11 2001 From September 11 2001 to May 5 2003 companies may take an additional 30 special depreciation allowance on qualified assets in the first year of the asset s life From May 5 2003 onwards companies may take an additional 50 special depreciation allowance The amount taken reduces the depreciable base of the asset for normal depreciation calculations Fixed Assets Lease vs Buy Analysis Screen Two Fixed Assets Forecasting CHAPTER 5 Use the Proceed OK command to save your entries and display the second Lease vs Buy Analysis screen Use the second Lease vs Buy Analysis screen to enter proposed depreciation information in two columns BOOK and FEDTAX A Lease vs Buy Analysis Commands Edit Modes Other Help 2xt malma l ee Page 2 of 2 LEASE Base Cost Depr Method or Table ID S Recovery Period hS Switch to Method Estimated Life in Periods Depreciation Begin Period Depreciation End Period Salvage Value 0 179 Expense 00 Applied Credits Other Bonus Depr BOOK 117500 00 SL a 10 0 120 12 2007 11 2017 00 00 00 00 FEDTAX 117500 00 M10P a 10 09 120 12 2007 12 2016 Company H 10 23 2007 Terminal T000 OVR Field Base Cost Depr Method or Table ID Description Press Enter to use the base cost you enter
163. red Dollar value fields in the portion of the asset remaining active are reduced in proportion to the dollar amount retired see later in this section During year end maintenance you can delete fully retired assets Fixed Assets 8 41 CHAPTER 8 File Maintenance Retire Assets Retire Assets Screen One Select Retire Assets from the File Maintenance menu The Retire Assets screen appears EN Retire Assets Commands Edit Modes Other Help 2xtlwealmal lee ox Abandon Asset ID MPUTER 000 8 Description Micro Computer for Sequence No 4 Acquisition Date 06 10 2001 Acquisition Cost 6329 84 Adjusted Cost 6329 84 Active Quantity 1 Credits Description ITC Total Credits 253 19 Retirement Reason Fully Retired Retirement Code 1 Retirement Date 10 23 2007 E Retirement Pd Year 10 2007 Retirement Quantity 1 Retirement Amount 6329 84 Retirement Proceeds 300 00 Retirement Expenses 150 00 Company H 10 23 2007 Terminal tooo OVR You can retire only active assets You cannot retire active assets with unposted amounts in the Current Depreciation field Inquiry 1 Enter or select the full ID including suffix ID and sequence number of the asset you want to retire in the Asset ID box The asset description and credit information from the asset record appear If there is unposted current depreciation an error message appears You must either post the depreciation or use the Fixed Assets function to
164. rocess Book FedTax Other AMT Current Fiscal Year 2007 2007 2007 2007 Number of Periods in Fiscal Year 12 12 12 12 Number of Periods Processed This Year 9 9 9 9 Beginning Period to Process Now 10 10 10 10 Ending Period to Process Now 10 10 10 10 Post Depreciation to GL Period 10 CompanyH 10 23 2007 Terminal Tooo OVR If you have not yet computed period depreciation this prompt appears Fixed Assets 4 7 CHAPTER 4 Period Work Print Period Depreciation Period depreciation is not computed If you have computed period depreciation your book selections from the Compute Period Depreciation screen appear The values in the fields on the Print Period Depreciation screen are taken from the ACPRDxxx table These values were set when you used the Compute Period Depreciation function on page 4 3 You cannot change them on this screen A sample of the journal is at the end of this section After the journal is produced the Period Work menu appears Notes on the Journal How the Journal is Organized The Period Depreciation Journal is organized by general ledger asset account number You enter this account number on the Valuation and Credits subscreen in the fixed asset record Within each account number the journal is organized by asset ID How Current Depreciation is Calculated The amount in the Current Depreciation field is the annual depreciation divided by the number of periods in the
165. rom the e mail addresses on file for those respective categories depending upon installed applications or select None to leave the field blank you must choose at least one To CC or BCC address The name of the report appears in the Subject field Change the subject line if necessary Select Yes in the Attachment field to send the report as a text file attachment to the e mail message select No to send the report in the body of the e mail or select PDF to attach the report as a PDF file The E Mail Message dialog box appears EN E Mail Message Es Commands Edit Modes Other Help 2X te aelma 2 209 as ok __j Abandon Got your message Here s the report you requested Thanks Enter the message you would like included in the body of the e mail and use the Proceed OK command You are returned to the E Mail Information Screen Use one of the following commands in the Attachment File scroll region e Press Enter to edit the highlighted attachment if any Browse to or enter the name of the file you would like to attach in the Edit Attachment dialog box see Edit Append Attachment dialog box on page 1 34 Press A to add an attachment to the e mail Browse to or enter the name of the file you would like to attach in the Append Attachment dialog box see Edit Append Attachment dialog box on page 1 34 1 33 CHAPTER 1 Introduction 1 34 Reports e Press Gt
166. roperty Section C laced in Service 20a Class life AAAAAN b 12 year c 40 year IV Surrary see instructions 21 Listed property Enter arount fror line 28 22 Total Add line 12 lines 14 17 lines 19 20 23 For assets shown above and placed in service portion of the basis attributable to section service 19a 11823 70 7639 54 MQ MQ 5 0 years 7 0 years so nono in colurn g and line 21 during the current year enter the 263A costs see instructions 23 00 Enter the staller of business incote not 0 or line 5 see instructions 00 200DB 200DB Enter here and on your return 00 Section B Assets Placed in Service During this Tax Year u i ng the General Depreci ati on Syster f Method NN NH 10 24 2007 Builders Supply Page 6 3 52 PM Depreciation Tax Report Tax Fort 4562 Surrary Part I Election To Expense Certain Tangible Property Under Section 179 NOTE If you have any Listed Property corplete part V before you corplete Part I 1 Maxitur arount See the instructions for a higher lirit for certain businesses E 1 108000 00 2 Total cost of section 179 property placed in service see the instructions 2 13077 66 3 Threshhold cost of section 179 property before reduction in lititation gt 3 430000 00 4 Reduction in lititation Subtract line 3 fror line 2 If zero or less enter 0 edt Zar Le 4 00 5 Dollar Liritation for tax year Subtract line 4 f
167. ror Tin 1 If zero or Tess enter I0 If rarried filing separately see the instructions Au de Kas Gay Se 5 108000 a Description of property b Cost c Elected Cost q Depreciation deduction During this Tax Year Using the Alternative Depreciation Syster 35529 51 NO 921 73 00 1124 14 37575 38 7 28 Fixed Assets Depreciation Tax Report Year End CHAPTER 7 Depreciation Tax Report Tax Form 4562 Summary part V 10242007 Builders Supply Page 7 3 52 PM Depreciation Tax Report Tax Fort 4562 Surtary Part Y Listed Property Includes autorobiles certain other vehicles cellular telephones certain corputers and property used for entertaintent recreation or aruserent NOTE For any vehicle for which you are using the standard tileage rate or deducting lease expense cotplete only 24a 24b colurns a through c of Section A all of Section B and Section C if applicable Section A Depreciation and Other Inforration Caution See instructions for liritations for passenger autorobiles 24a Do you AS evidence to support the business investrent use claited YES 24b If Yes is the evidence written YES c d e cf Gg ch i Type of property list Date placed Business Cost or other Basis for Recovery Method Depreciation Elected vehicles first service Investrent basis depreciation period Convention deduction section 179 use pctg Bus use only cost 25 S
168. s 1250 Depreciable real property that is not 1245 property 1251 Farmland when there is a gain from disposition where farm losses offset nonfarm income 1252 Farmland when there is a gain from its disposal Fixed Assets Fixed Assets Fixed Assets Field File Maintenance CHAPTER 8 Description 1254 Oil gas or geothermal property when there is a gain from its disposal 1255 Land for which you received payments for implementing conservation measures If you are not sure of the asset s tax class check with your accountant or the IRS For an asset to show as a section 179 asset in the Depreciation Tax Report you must enter 1245 as the tax class number Field Personal Real Status Owned Leased New Used Acquisition Date Description Personal assets are machinery or equipment Real assets are land and anything erected on growing on or attached to land For personal property enter P For a real asset enter R When you enter an asset record the asset has a status of new and you cannot change it When you enter the date the asset was placed in service the asset status changes to active If you take the asset out of service temporarily enter S to change the status to suspended To reactivate a suspended asset enter A You must use the Retire Assets function page 8 41 to change the asset status to retired You cannot dispose of an asset until it is retired Enter O or L to indicate
169. s Forecasting CHAPTER 5 Lease vs Buy Analysis page 3 y Lease vs Buy Analysis Trial 1 In 55 Buy Analysis at Tax Rate of 22 Tax Depreciation Expensed Arount Bonus Depreciation Net Expenses 28775 80 20550 80 14675 80 10492 80 91286 Tax Savings on Expenses s 6330 68 4521 18 3228 68 2308 42 20082 Tax Credits Total Tax Savings Net Present Value at 06 Book Depreciation 2937 50 11750 00 11750 00 11750 00 11750 00 49937 50 Tax Savings 3693 98 6330 68 4521 18 Total P amp L Effect 756 48 5419 32 7228 82 8521 32 9441 58 29854 56 ash Outflows 2007 2008 2009 2010 2011 Total Cash Price Expenses 117575 00 117575 00 Tax Savings 3693 98 6330 68 4521 18 3228 68 2308 42 20082 94 Net Cash Outflows 113881 02 6330 68 4521 18 3228 68 2308 42 97492 06 Net Present Value at 06 99345 51 Notes 1 Net present Value is corputed assuring period end cash flows and tite zero at the beginning of the first year displayed 2 Salvage residual value assured to be zero End of Report Fixed Assets 5 11 Loan Amortization MM Use the Loan Amortization function to calculate payments based on loan principal type and interest rate to calculate balloon payments and to determine the down payment needed to get the monthly payment you want This comparison can help you determine which approach to borrowing money best fits your needs budget and cash flow Select Loan Amortization from th
170. s shown below EN osas 1000 Sa Settings Edit Print Help 11 27 2007 Company H Builders Supply 4 25 PM Main Menu Bills of Materials Kitting TOOO _ OPEN SYSTEMS R Accounting Software When you select an application the application s menu is superimposed over the main menu Selecting an entry on an application menu opens a function screen or a submenu You can move around the text main menu in these ways e Use the arrow keys to move the cursor up and down to highlight the application you want Then press Enter to select it 1 21 CHAPTER 1 Introduction Navigating OSAS e Press the first letter of the application you want to move the cursor to the first application beginning with that letter Continue to press the letter key or the down arrow until the application you want is highlighted then press Enter to select it e Use the mouse to click an application to view that application s menu e To move to the first application on the menu press Home To move to the last application on the menu press End e Onan application menu press Page Up to move to the menu immediately behind it If you are several levels away from the main menu you can return to the main menu by pressing Page Up repeatedly or by pressing Tab once e To exit from OSAS press F7 Function Screens Like the text menu OSAS text function screens can be used on all operating sys
171. ses this number and the number of periods per year to calculate the number of periods in the estimated life of the asset If you are using a depreciation table based on recovery period the system also uses this number to determine which column of the table to use 5 21 CHAPTER 5 Forecasting 5 22 Field Switch to Method Estimated Life in Periods Depreciation Begin Period pd yyyy Trial Depreciation Description If you are using sum of the years digits or declining balance depreciation you can choose an alternative depreciation method for the end of the fiscal year if it is to your advantage If you do not want to switch methods automatically enter NONE If you want to switch methods what you can enter depends on the primary method you chose If you used sum of the years digits SYD for the primary depreciation method you can enter SL straight line If you used the declining balance xxxDB method you can enter SYD or SL If you are using a depreciation method other than sum of the years digits or declining balance you cannot enter a switch to method MACRS tables have a built in switch to method Enter the number of accounting periods in the estimated life of the asset The estimated life based on Recovery Period appears at the bottom of the screen Enter the accounting period and year you want to begin depreciating the asset This is not a date field Depending on the period system y
172. set ID From AUTO EN Print by Thu LAND 8 Asset ID Tag Number From Tag Number Thru GL Asset Account GL Asset Account From Location Thru Acquisition Date From E Thru Cal Print Plant From Active Thru Retired Division From New Thru Suspended Department From o All Thru Company H 10 23 2007 Terminal TODO OVR Select the range of values to print on the report in the list boxes Leave these fields blank to select all values or enter values into a combination of fields to select specific information to print on the list The Inquiry F2 command is usually available with these list boxes If the screen contains selection options as in the Print By or Print box in the example select the option to use when printing the list You can select only one option If the screen contains check boxes select the check box or press Y in text mode to print that type of information in the list Clear the check box or press N in text mode if you do not want to print that type of information in the list Select the output device to begin printing the report See Reports on page 1 27 for more information After you produce the report the Reports menu appears Fixed Assets Additions Journal The Additions Journal contains the asset acquisition data you entered in the Fixed Assets function Use this journal to review asset acquisition and valuation information Sample Report 1072472007 Builders Supply PAGE I
173. set status is new active or suspended you cannot access this field If you have changed the status to retired the date you retired the asset appears Press Enter to accept it or enter a different retirement date 8 10 Fixed Assets Fixed Assets File Maintenance CHAPTER 8 Field Description JCWAA Special Enter the percentage to use for the JCWAA Special Allowance Allowance for assets acquired and placed in service after September 11 2001 until May 5 2003 when companies may take an additional 30 depreciation allowance on qualified assets in the asset s first year From May 5 2003 onwards companies may take an additional 50 special depreciation allowance The amount taken reduces the depreciable base of the asset for normal depreciation calculations Acquisition Cost Enter the original cost of the asset plus depreciable expenditures related to purchasing and installing the asset including legal fees and transportation costs This cost should reflect the original cost of the asset before adjustments to the basis 1 Do not round off numbers The Fixed Assets system calculates to the cent and if the original numbers are not accurate other numbers will not be either 2 You might have negative assets such as trade ins and tax credit adjustments Once you have entered a negative acquisition cost for an item the other amounts you enter in the asset record must be negative Field Description Adjusted Cost The adjuste
174. sions Program Function The toolbar for function screens is shown below Click a button to access that Screen command Toolbar File Start Paste Calendar Online Maintenance Over Documentation 2x BR MH amp Delete Copy Calculator Field Address Help Mapping Date Fields If you use BBj in graphical mode click the Calendar button when it appears next to date fields to open a calendar so that you can select the date you want to enter into that field Fixed Assets 1 19 CHAPTER 1 Introduction Navigating OSAS 1 20 Browse If you use BBj in graphical mode you can use the Browse button when it appears next to fields to navigate to directories and files and automatically enter file paths into that field Click the Browse button to open the Select Directory File screen then navigate to the directory or file and click Open to automatically enter the file path in the field Inquiry The Inquiry command helps you look up and select valid entries for fields that are connected to master file records For example when you use the Inquiry command in a Batch ID field OSAS lists all batches you have set up so that you can Select the one you want to enter in that field When the Inquiry button appears next to a field you can either click the button or press F2 to open the Inquiry screen and search for valid entries Maintenance The Maintenance command allows you to enter or edit master file records on the fly from within functions
175. ssets and listed assets placed in service in the current tax year that are tagged as taking the special JCWAA allowance and a summary of IRS Form 4562 Use the Depreciation Tax Report as a resource when completing IRS Form 4562 Depreciation and Amortization Use Form 4562 to claim your deduction for depreciation and amortization to make the election to expense certain tangible property section 179 and to provide information on the business and or investment use of automobiles and other listed property Do not file any part of the Depreciation Tax Report with the IRS Use the report solely as an aid in preparation for filling out Form 4562 Sections of the Report The Depreciation Tax Report consists of five sections containing information pertaining to parts I II III and V a of IRS Form 4562 You can print any or all of the five sections of the report Listed Assets Schedule This section of the report shows the listed assets on file Assets with more than 50 percent business use are listed first then assets with 50 percent business use or less are listed Use the Listed Assets Schedule as a resource when filling out Part V Section A of IRS Form 4562 Fixed Assets 7 19 CHAPTER 7 Year End Depreciation Tax Report 7 20 179 Expenses Schedule This section of the report shows the 179 expenses associated with assets placed in service during the specified tax year It also lists the 179 expense amount from the Listed Assets
176. stem uses the retired base cost and retired asset dollar value to calculate a retirement percentage and uses the retirement percentage to calculate the following values for each column e Salvage amount retired e Other bonus depreciation retired e 179 expense amount retired e Applied credits retired 1 7 CHAPTER 1 Introduction The Fixed Assets System e Base cost retired e Year to date depreciation retired e Accumulated eligible depreciation retired e Total depreciation retired accumulated depreciation taken year to date depreciation current depreciation Productivity Reports 1 8 Fixed Assets includes a number of productivity reports in Microsoft Excel format These reports connect directly to your OSAS data via the ODBC JDBC driver included with OSAS 7 6 and allow you to use spreadsheet tools to manipulate the data as you want and produce charts and graphs to visualize trends The spreadsheet reports are listed on the Productivity Reports menu Double click a report name to automatically launch Excel or any other spreadsheet program capable of opening an Excel formatted spreadsheet to open the report Use the selection boxes to filter the information that appears in the report or use the tools within your spreadsheet software to create charts and graphs from the report s data Fixed Assets Starting OSAS MM OSAS runs on an operating system supported by 150 MB of permanent storage and 4 MB of RAM You may
177. t o ooo ooooo oo 9 9 Retired Assets LiSt ooooooooommomoo 9 11 GL Account Audit Report 9 13 iv Fixed Assets User s Manual CHAPTER 1 Welcome to OSAS 1 1 The Fixed Assets System 1 3 Starting OSAS 1 9 Navigating OSAS 1 13 Reports 1 27 Fixed Assets Introduction Welcome to OSAS Welcome to the Fixed Assets application for OPEN SYSTEMS Accounting Software OSAS Fixed Assets helps you calculate and track the value and depreciation of your company s fixed assets anything with a useful life of more than one year that is used to produce income and is not intended for sale Standard methods of tracking depreciation such as straight line sum of the years digits declining balance ACRS and MACRS are available The Fixed Assets system provides four sets of asset depreciation records book federal tax other and alternative minimum tax A M T In addition to calculating and tracking depreciation the Fixed Assets system offers a wide array of reports to help you keep on top of current depreciation It also offers planning utilities to help you determine the best methods for future depreciation Fixed Assets plugs into Resource Manager the foundation of OSAS Consult the Resource Manager User s Guide for more information on basic OSAS functionality and details on how Resource Manager works within the OSAS system 1 1 CHAPTER 1 Introduction About This Guide Conv
178. t 154500 GL Depr Expense Account 521000 Company H 10 23 2007 Terminal TODO OVR The asset ID with suffix ID and sequence number if any you entered on the Fixed Assets master screen and the description you entered on the General Information subscreen appear Valuation Use the valuation portion of the Valuation and Credits subscreen to record information about the asset insurance 1 Select or clear the check box or enter Y or N in text mode to indicate whether or not the asset is insured If the item is uninsured you cannot access the Effective Date and Insured Value fields 2 Ifthe asset is insured enter the effective date of the insurance Fixed Assets 8 13 CHAPTER 8 File Maintenance Fixed Assets 3 Enter the amount for which the asset is insured 4 Enter the date the asset was assessed for tax purposes 5 Enter the assessed value of the asset 6 Enter the date the asset was assessed for replacement value 7 Enter the replacement cost of the asset Credits Use the credits portion of the Valuation and Credits subscreen to record information about credits taken against the asset 1 Enter a brief description of the credits against the value of the asset 2 Enter the total number of credits for which you are eligible This number is used to calculate the base depreciable value on the Depreciation subscreen Consult your accountant for help in calculating the total credit you can claim
179. t to produce the printed log The lower left Values section is where you build a list of the values you want to change by specifying the old value and the new value The lower right Files section contains a list of the files that are changed in the applications you installed on your system 1 Enter the Field ID you want to change You can change only Fixed Assets fields from the Fixed Assets menu To change IDs and codes from other applications run the Change Fields function in the respective application 2 Select the Print Log check box to print a list of the files that are changed 3 After you enter the Field ID and indicate your preference for printing the log use the Proceed OK command to begin entering field values to change 4 To edit or add original new values in this section select a line and press Enter to edit the current line The Edit Original New Values dialog box appears Press A to append another value to the list The Add Original New Values dialog box appears 5 Enter the current field value you want to change in the Original Value box 6 Enter the new value that you want to use for this field in the New Value box 7 Select a command e Press S to switch to the File Description section to specify which files change during processing e Press Enter to edit the current line e Press A to append another value to the list e Press B to begin the change field process Fixed Assets Change Fields Files
180. t was placed in service to the projected retirement date Payment of cash to obtain goods or services If an expenditure has the potential to benefit the company in the future it can be treated as an asset rather than an expense if capitalized See also capitalization The time between the date the depreciation of the asset began and the current date See also remaining life One of four sets of asset depreciation records provided by the Fixed Assets system Fed Tax records are normally kept for federal tax purposes See also Book depreciation Other depreciation and A M T depreciation Fixed Assets field file fixed asset fixed principal function gain realized gain recognized general ledger half and full half year improvement intangible property installation Fixed Assets Glossary APPENDIX B A region on the screen that accepts input from the user also one element of a record in a file On the screen most fields are labeled A collection of records stored under a particular name Function screens often represent files but you do not directly see a file See also table Anything with a useful life of more than one year that is used to produce income and is not intended for sale Also called plant assets fixed assets include such things as buildings machinery land and natural resources A loan type in which the principal amount applied to each payment remains the same while the pa
181. tems and in combination with graphical menus Settings Edit Print Help Orders 1 22 Fixed Assets Navigating OSAS Introduction e CHAPTER 1 Other Commands Information Menu Fixed Assets You can move around the screen these ways e Press Enter or the down arrow to move from field to field e To use a command that is listed in the command bar press the highlighted letter e Use hot key commands to access information screens or to toggle commands on and off Refer to Appendix B in the Resource Manager User s Guide for more information on these commands and their corresponding hot keys e Ifa screen contains more than one section press Page Down when prompted to move to the next section e Ifa menu appears prompting you for the kind of information to enter or maintain such as in the example and on Transaction and File Maintenance screens select the appropriate option and press Enter e To exit the screen and return to the menu press F7 Menus Like the graphical mode the text mode also includes menus that give you access to commands that open additional utilities show additional information about the task at hand or set up a custom menu that contains frequently used commands Refer to Appendix A in the Resource Manager User s Guide for full details about the menus available in OSAS The Other Commands or F4 menu gives you access to additional utilities and commands not directly related to the func
182. the Percent column When you save your entries the cursor returns to the Column No field Enter another column use the Abandon F5 command to go to the Table ID field or exit to the File Maintenance menu 8 39 Retire Assets o M When an asset reaches the end of its useful life or when you have taken all the depreciation you can use the Retire Assets function to retire and dispose of the asset This process changes the asset s status to retired enters a retirement date in the asset record and puts a stop to depreciation calculations involving the asset Once an asset has been retired you can delete its record during year end processing You must compute and post period depreciation before you retire assets Definition of Retirement When you retire an asset data related to the identification and value of the asset is copied to the FARJxxx Retirements file The data is available through the Retirements Journal and the Retired Assets List Retired assets are identified by the standard asset ID plus a two digit sequence number You can enter a maximum of 99 retirement transactions for an asset ID in a calendar year If you retire a single unit asset its status is changed to retired and a retirement date is put in the asset record If you retire part of a multiple unit asset the asset status does not change A multiple unit asset s status cannot be changed to retired until the entire dollar value of the asset is reti
183. the files 8 51 CHAPTER 8 File Maintenance e Press B to begin the change field process Change Fields e Press H to return to the header section to change the selection you made for printing the log e Press Gto go to a particular entry This option is only available when there is more than one page of entries e Press F to choose a new field ID this abandons any field changes you entered but have not yet saved 12 When you have tagged the files you want to change press B to begin the change process When the changes are complete the log prints if you elected to produce it 13 Enter a new Field ID to change or use the Exit F7 command to return to the File Maintenance menu Change Fields Log 08 19 2005 3 27 PM File Name Records Read FAMAH 4 FARJH 3 FAMAH UD 6 Field ID FA ASSET ID Original Value COMPUTER 92 COMPUTER 0001 8 52 Records Builders Supply Change Field Log Converted Original Total Record 2 30 1 3 4 60 New Value LAPTOP1 LAPTOPZ Page 1 New Total Records 30 60 Fixed Assets CHAPTER 9 Printing a Master File List zs M aster Fj le Lists Fixed Assets List 9 Tables List 9 7 Depreciation Tables List 9 9 Retired Assets List 9 11 GL Account Audit Report 9 13 Printing a Master File List All master file lists are produced in the same way Use the instructions below to print a master file list modifying the procedure as necessary for the list you are
184. the initial depreciation values depends on these factors e Whether or not you calculated and recorded depreciation before using this application e Whether or not you want to recalculate the depreciation for the entire lives of the assets If you have been calculating and recording depreciation all along and do not want to recalculate first enter the base cost salvage value other expenses accumulated depreciation from prior years annual depreciation projected for the current year and year to date depreciation taken in each asset record Then begin processing with the current period The system calculates the current period depreciation and remaining depreciable base If you have not been calculating and recording depreciation or if you want to recalculate the depreciation for the entire lives of the assets follow these steps 1 Collect your asset records and organize them by the fiscal year you purchased the asset 2 Set up the Fiscal Year field in the ACPRDxxx table to the first year you purchased assets Fixed Assets Setup Checklist and Functions Setup CHAPTER 3 3 Enter the required information on the General Information and Valuation and Credits subscreens for each asset Be sure to enter the correct acquisition and placed in service dates for each asset unless you use half year convention ACRS Then enter the base cost salvage value and other expenses and credits values on the Depreciation subscreen but leav
185. ting Make sure that you entered the correct source directory and application ID The sum of the amounts in the Current Depreciation and YTD Depreciation fields cannot exceed the amount in the Annual Depreciation field Either increase the annual depreciation or decrease the current and year to date depreciation This message appears for one of three reasons 1 The function you are trying to access needs one or more files that are locked by another user on your system When a file is locked other users cannot access it during posts and other functions that need to keep the files intact 2 The function you are trying to access needs one or more files that are not on your system Use the Options and Interfaces function on the Resource Manager Company Setup menu to verify that the correct interfaces are selected If that does not correct the problem get help from a support technician 3 You are working with the wrong company Return to the menu then use the Change Company F5 command to enter the ID you want In any case press Enter to get back to the menu correct the problem and select the function again Fixed Assets Fractional years not allowed with sum of the years digits method Invalid date in directory file name Invalid entry Value has opposite sign of acquisition cost Invalid entry Value has opposite sign of base cost Invalid entry Value has opposite sign of prior acquisition cost
186. tion e Press F7 to exit the screen and return to the main menu Fixed Assets Navigating OSAS Introduction CHAPTER 1 Shortcut Menu Other Commands Menu Information Menu Fixed Assets Menus Both the graphical main menu and graphical function screens contain drop down menus that give you access to additional commands without using the function keys While you can use the function keys to access commands in graphical mode you may find it easier to access command through these menus To access a menu s commands click a menu title The commands for that menu appear followed by any associated hot key combinations in brackets lt gt To use a command click the command name or press the hot key combination Refer to the Resource Manager User s Guide for more information on the menus available in OSAS and their commands OSAS gives you quick access to commands relating to the screen you re using via a shortcut menu The commands that are available depend on the function and the field you are currently using To use these commands click the right mouse button and select the command from the menu that appears On the main menu the shortcut menu gives you access to commands that help you manage your Favorites menu switch between sample and live data perform certain setup tasks and view function information On function screens this menu helps you access help documentation move around the function screen work with E
187. tion amounts in the Book column Note Retiring an asset does not remove it from the general ledger asset accounts After you retire and dispose of an asset you must make a manual GL Journal entry to remove the asset from your books Fixed Assets 1 3 CHAPTER 1 Introduction The Fixed Assets System Menu Structure The Fixed Assets menu structure is similar to the structure of other OSAS applications functions appear roughly in order of use File Maintenance Use the functions on the File Maintenance menu to set up and maintain information about your fixed assets For example use the Fixed Assets function to establish and update information about your assets You will probably use the File Maintenance functions less often than any of the other Fixed Assets functions once to set up the system and each time you want to add or change a valid code or ID Period Work After you establish the valid codes and IDs through the File Maintenance functions you can use the Period Work functions to compute depreciation for a specified accounting period produce a report to check the calculations and then post the depreciation to the assets records Forecasting The Fixed Assets system contains three forecasting functions that can help you make decisions about the future of your fixed assets The Lease vs Buy Analysis function can help you decide whether to rent or purchase an asset The Loan Amortization function helps you determine the
188. tion you re currently using In text mode press F4 twice on the menu or once on function screens to access this menu See page 1 17 for more information on this menu The Information or Shift F2 menu gives you access to additional information about a customer vendor item job bill of material or employee In text mode this menu is available when the Info flag appears at the bottom of a function screen 1 23 CHAPTER 1 Introduction Navigating OSAS Favorites Menu 1 24 The commands on the menu are available only as they are relevant to the task you are performing For example if you are entering a transaction in Accounts Receivable you can access comments or documents about items or customers but not about employees or vendors See page 1 17 for more information The Favorites menu allows you add the OSAS menus or functions you use most frequently to a custom menu After you ve set up the menu select Change to Favorites from the graphical Favorites menu or press F2 to access the functions To add a function to the Favorites menu select the function you want to add from the main menu and press F10 To remove a function from the menu select the function on the Favorites menu that you want to remove and press F10 again See page 1 18 for more information on this menu Commands and Flags Both the text menu and text function screens let you use commands to drill down to more information change companies switch to sam
189. tions and Interfaces function 1 3 3 5 OPTxxx table 8 28 OSAS FATAX file and different system versions 1 6 MDI menu 1 15 modes 1 13 graphical 1 13 text 1 21 setup considerations 2 4 starting in other operating systems 1 9 starting in Windows 1 9 Other Depreciation Schedule 7 20 7 22 report 7 27 output device e mail 1 32 file 1 31 preview 1 30 printer 1 29 screen 1 31 P Percent of Business Use Report function 7 35 produce after year end 7 33 screen 7 35 period depreciation computing before printing 4 8 Period Depreciation Journal function 4 12 notes on the journal 4 8 report 4 9 Period Work Compute Period Depreciation function 4 3 menu 1 4 Fixed Assets User s Manual INDEX Post Period Depreciation function 4 11 Print Period Depreciation function 4 7 Post Period Depreciation and Retire Assets 8 42 before you post 4 12 function 1 6 4 3 4 11 8 21 T accounts 4 11 Post Period Depreciation Journal function 4 7 log 4 13 posting to General Ledger 4 11 Print Period Depreciation function 4 7 Proceed OK command 1 2 programs backing up 3 11 Projected Depreciation Report function 5 27 Property Assessment Schedule function 7 15 produce before year end 7 31 report 7 17 screen 7 15 R ranges in reports 1 27 Reinstate Assets Screen Two 8 48 Report Writer 8 27 Reports Additions Journal 6 3 Asset Value Report 6 7 menu 1 4 Retirements Journal 6 5 reports
190. tired Depr Method Table ID Estirated Life in Periods Actual Life g Depreciation Begin Period Depreciation End Period Salvage Retired 179 Expense Retired Applied Credits Retired Bonus Retired laccur Elig Depr Ret JAccut Depr Retired YTD Depr Retired Reraining Depr Base Builders Supply Retired Assets List by Asset ID COMPUTER 0001 01 Micro Corputer for Accounting Fully Retired 1530 Retirerent Arount 6329 84 1 Retirerent Proceeds 300 00 05 30 2005 Retiretent Expenses 150 00 1 Retirerent Credits 253 19 Special Allowance Percent 595 595 37 CRANE Cranes l Fully Di 1520 2 02 28 21 Special Allowance Percent 42130 SL 03 02 3001 40651 40651 679 0 6329 84 3YR 36 36 06 1999 05 2002 00 00 00 00 00 00 00 253 19 00 00 00 00 0 60 6076 65 5450 70 0 60 6076 65 5450 7 9 24 00 879 14 00 00 00 0001 01 Derricks epreciated Retirerent Arount 4 Retirerent Proceeds 005 Retirerent Expenses 2 Retirerent Credits 0 Book FedTax Other 2 59 421302 59 421302 59 SL SL 120 120 120 120 120 120 1995 0371995 03 1995 2005 02 2005 02 2005 0 00 8000 00 8000 00 00 00 00 00 00 00 00 00 00 1 70 372807 49 406511 70 1 70 372807 49 406511 70 0 89 6790 89 6790 89 00 33704 21 00 00 2005 002005 21302 59 00 00 33704 21 00 2005 00 2005 Page Y Fixed Assets 9 11 GL Account Audit Report The GL Account Audit Report List shows Fi
191. ts The Fixed Assets system makes extensive use of tables supplied by the IRS to calculate depreciation All the established current depreciation tables and selected tables from earlier years are provided with the Fixed Assets system However since tax laws change frequently you may need to add or change depreciation tables before you begin Fixed Assets processing Consult your accountant to determine if you need to change these tables or add tables before you begin Fixed Assets processing Depreciation tables are shared by all companies on your system For information about how to add or revise depreciation tables refer to the Depreciation Tables function on page 8 35 3 7 CHAPTER 3 Setup Setup Checklist and Functions Fixed Assets 3 8 The FAMAxxx Fixed Assets file is the backbone of the system It contains the records of all assets and current year and historical depreciation information Use the Fixed Assets function to create or update fixed assets records If you are upgrading from an earlier version of Fixed Assets the FAMAxxx file is created and the initial balances on the Depreciation subscreen are set when you convert the old data files If you are installing Fixed Assets for the first time you must collect the up to date information about the assets you own and enter the information into the FAMAxxx file before you begin operations Generating Initial Depreciation Values The way in which you can generate
192. ts you To stop the conversion process select Yes or enter Y in text mode To let the conversion run its course and investigate later select No or enter N in text mode When the process is finished the files are converted Select the output device for the error log 2 5 CHAPTER 3 Setup Considerations 3 1 Setup Checklist and Functions Fixed Assets 3 5 Setup Setup Considerations After you have installed the software for the first time or after you have upgraded the software you must set up the system Follow the setup procedures carefully the choices you make determine how the system operates Codes and IDs When you set up the system you assign codes and IDs to tell the system how to identify each item on file The system uses these identifiers to organize the information in reports and inquiry windows The system arranges code characters in a particular order In the following list codes and IDs are sorted from lowest to highest and dashes represent blank spaces ent 0 Dia 1 A Z a ARE 01 Sy 000000 000001 1 3 1 CHAPTER 3 Setup 3 2 The organization of these codes illustrates the following principles e The system reads codes from left to right until it finds something other than a blank space e Ttems that make up a code are always listed alphabetically The items are listed in this order for each position Blank spaces Characters and so forth
193. uction Reports E mail the Report Before you can e mail reports you must enter details about your e mail system using the E Mail Setup function on the Resource Manager Installation and Configuration menu You can e mail only selected reports In general any report or form that makes up part of your audit trail cannot be e mailed Follow these steps to e mail a report 1 Select E mail or enter M The E Mail Information screen appears H E Mail Information f Commands Edit Modes Other Scroll Commands Help RX fz eala al27 e e Ak Abandor E Mail From samd builders_supply com To Customer ACE001 3 La bhumphrey aceplumbingsupply com garry deacon bigmail com CC Employee Bouoo1 a la bourne builders_supply com BCC Employee STO001 La ls asotckard builders_supply com Subject AR Analysis Report Attachment Type YES y Attachment File C OSAS76 data Onpqq79x005 TXT Enter Edit Append Go to Header Done Company H 10 26 2010 Terminal T000 OVR 2 The E Mail From field displays the originating e mail address Change it if you want the return e mail address to be different from the one set up in the E Mail Setup function in Resource Manager 1 32 Fixed Assets Reports Fixed Assets Introduction CHAPTER 1 In the To carbon copy CC and blind carbon copy BCC fields select Other and enter the e mail address or select Vendor Customer or Employee and choose f
194. upgrade Fixed Assets You can upgrade it from version 3 2 4 0x 4 1x 5 xx 6 xx or 7 0x If you want to convert to version 7 6 from a version earlier than 3 2 contact a client support representative If you are converting to version 7 6 follow these guidelines to convert your data files You must install the new version of Fixed Assets before you convert files You can replace and update the programs properly only by using the Install Applications function in Resource Manager Before you convert an application s files make note of the version number of the application from which you are converting The Data File Conversion function has no way of determining this information from within the function Because tables are also converted when you convert data files any changes made including those in Options and Interfaces since the initial set up may be lost Check table settings and verify your options and interfaces selections after converting all companies If you need to reconvert a company either reset your options after conversion or back up the xxTB files before converting Fixed Assets 2 3 CHAPTER 2 Installation and Conversion Consider Your Setup Conversion Before you try to convert your version of Fixed Assets to the current version consider the exact setup of your system Since OSAS code can be customized modifications to your system might be lost if you install a newer version of a program or update a file If
195. use at a later time on your workstation e Check the Save as Global Report Picks box to save the pick criteria for use by anyone in your organization who has access to this report e Enter a Description for these report defaults for identification e Ifyou check the Set as Personal Default box or enter Y in text mode these pick criteria will be automatically applied on the report screen the next time you run the report from the menu e Ifyou check the Set as Global Default box on enter Y in text mode these pick criteria will be automatically applied on the report screen whenever anyone in your organization runs the report from the menu Whether or not you set saved criteria as a default you can load any report criteria you have saved by clicking Shift F3 and choosing the description you want Consult the Resource Manager User s Guide for more information about reports Fixed Assets Installation Conversion Fixed Assets CHAPTER 2 2 1 2 3 Installation and Conversion Installation Before You Install Fixed Assets Make sure your system meets these minimum requirements before you install Fixed Assets The Fixed Assets system needs a minimum of eight megabytes 8 MB of disk space to work correctly with programs sample data data dictionaries system files and graphics files Having more disk space available is necessary for the data files you create and maintain The OSAS system requires at least one me
196. value of each asset Use it to review the individual or net value of your assets and to evaluate your insurance coverage Sample Report 3 30 PM Asset ID ASSET ID AUTO AUTO AUTO ASSET ID BUILDING ASSET ID ICOMPUTER KCorputer COMPUTER Portable COMPUTER Corputer COMPUTER Portable COMPUTER Corputer COMPUTER COMPUTER KCorputer COMPUTER 10 242007 Description AUTO Autorobile Grey LMC 04 2 Auto Stereo Syster 07 Autorobile Tan LMC TOTAL FOR ASSET ID AUTO BUILDING Corporate Headquarters Bldg TOTAL FOR ASSET ID BUILDING COMPUTER 03 Equiprent 04 Corputer 04 1 Equiprent 05 1 Corputer 05 3 Equiprent 06 1 Color Monitor 06 2 Equiprent or 1 Color Monitor Acq Date Status Qty 1 03 14 2004 ACTIVE 1 03 31 2004 ACTIVE 1 02 01 2007 ACTIVE 1 04 11 2005 ACTIVE 1 04 01 2003 ACTIVE 1 06 09 2004 ACTIVE 1 03 31 2004 ACTIVE 1 06 02 2005 ACTIVE 1 04 01 2005 ACTIVE 1 05 17 2006 ACTIVE 1 12 01 2006 ACTIVE 1 05 17 2007 ACTIVE Builders Supply Asset Value Report by Asset ID Net Book Val Replace Cost Value 3666 30 Insurance 05 15 12500 00 Assesstent 057157 236 16 Insurance 03 317 00 Assesstent 23433 58 Insurance 02 01 00 Assesstent 02 01 27336 04 Insurance 12500 00 Assesstent 178946 96 Insurance 04117 00 Assesstent 12 15 178946 96 Insurance 00 Assesstent 00 Insu
197. xed Assets tables and data files with invalid or missing GL account numbers Sample List Fixed Assets 100001 15350011 10 09 2007 Builders Supply 4 38 PM GL Account Audit Report Application Description Interfaced to GL Fa Fixed Assets Yes File File Description Record Description Field Name FAMAH Asset Master Asset ID AUTO Asset Acct FAMAH Asset Master Asset ID AUTO Accum Depr Acct FAMAH Asset Master Asset ID AUTO Depr Expense Acct FAMAH Asset Master Asset ID COMPUTER 0001 Accum Depr Acct FAMAH Asset Master Asset ID COMPUTER 0001 Depr Expense Acct End of Report Page 1 Missing Missing Inactive Not Found Missing 9 13 APPENDIXA ACPRDxxx is not on file An error occurred while converting files Conversion aborted An error occurred wile creating files File creation aborted Asset has unposted current depreciation Basic Error nn Host Error xxx Line nnnn Program XXXXXX Basic Error nn Line nnnn Program xxxxxx Blank date not allowed once asset has been active Fixed Assets System Messages Messages on the screen or in a report indicate an error or tell you how to enter data or what is happening in the function you are using Self explanatory messages are not listed The ACPRDxxx table has been deleted Restore the data from the most recent backup and try again If an error occurs during data file creation or conversion a message that describes the problem
198. yment amount varies each month A menu item that leads to a full screen Most functions have a corresponding program See also program The positive difference between the amount received and the adjusted basis of a sold asset The portion of the realized gain considered in calculating taxable income A record of accounts in terms of a chart of accounts and accounting periods The General Ledger application tracks the effects on accounts from transactions entered in General Ledger and interfaced applications and it is updated by other applications interfaced with it A half year s depreciation is taken in the year of acquisition and a full year s depreciation is taken in the year of retirement A half year s depreciation is computed for the acquisition year and the retirement year Extraordinary repairs or maintenance of an asset such as an addition to a building that increases its value extends its useful life or both Property such as copyrights and franchises See also tangible property The process of adding an application to an existing system See also conversion B 5 APPENDIX B Glossary interface investment tax credit ITC Elections journal journal entries lease lessee lessor menu Modified Accelerated Cost Recovery System MACRS month after B 6 To join to another application for the purpose of having information entered in one application update information in another applicati
199. you are not sure whether your system is ready for conversion consult your reseller Converting to Version 7 6 Select Data File Conversion from the Company Setup menu in Resource Manager The Data File Conversion screen appears A Data File Conversion Commands Edit Modes Other Help 20108 2xt mealma OK J Abandon Select directory on which to create files data Enter directory that contains the files to be converted c osas65 data Do you want source files erased after conversion Do you want conversion to pause if a problem is found Y Appl Description Version Appl Description GL General Ledger 6 50 AP Accounts Payable 6 50 AR Accounts Receivable 6 50 BR Bank Reconciliation 6 50 FA Fixed Assets 6 50 a Version Company H 10 23 2007 Terminal TODO OVR 1 The system displays all valid OSAS data paths Select the destination directory where your new data files will reside 2 Enter the path drive and directory that has the files you want to convert You cannot enter the same path as the path you selected as the destination Fixed Assets Conversion Fixed Assets 10 11 Installation and Conversion CHAPTER 2 If you want source files to be erased after conversion select the box or enter Y in text mode if not clear the box or enter N in text mode If you want the conversion process to pause if a problem occurs select the box or enter Y in t

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