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OPEN SYSTEMS® Accounting Software Fixed Assets User`s Manual

1. Company H 08 19 2005 Terminal T000 INS 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 Fixed Assets User s Manual 8 15 Fixed Assets File Maintenance 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 If the asset is insured enter the effective date of the insurance 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 for the asset 8 16 Fixed Assets User
2. 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 e 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 8 4 Fixed Assets User s Manual File Maintenance Fixed Assets 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 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 ente
3. Motor Vehicles i 000 0 000 00 Food Products 0 000 00 Clothing 000 0 000 00 Gasoline 0 000 00 Services 000 0 000 00 Total 1307 00 Calculated 1307 01 Over Short 01 Enter edit Tax Loc First Last Nee Prev View Header Company H 08 02 2005 Terminal T000 OVR You can move around the screen in these ways e 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 screens header section e Press F7 to exit the screen and return to the main menu 1 18 Fixed Assets User s Manual Navigating OSAS Introduction Menus Shortcut Menu Other Commands Menu 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 combinati
4. 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 Fixed Assets User s Manual 3 13 Setup Checklist and Functions Setup 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 1f 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 3 14 Fixed Assets User s Manual Period Work Compute Period Depreciation 4 3 Print Period Depreciation 4 7 Post Period Depreciation 4 11 Fixed Assets User s Manual 4 1 4 2 Period Work Introduction Period work consist
5. Commands Edit Modes Other Help 2xc selma elee 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 12 31 2003 Process Book FedTax Other AMT JKKK Company H 08 19 2005 Terminai TODO 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 select 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 29 for more information After the list is produced the Year End menu appears Fixed Assets User s Manual Year End Year End Maintenance 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 Busines
6. Depreciation tables are shared by all the companies on your system Fixed Assets User s Manual 8 39 Depreciation Tables File Maintenance Select Depreciation Tables from the File Maintenance menu The Depreciation Tables screen appears gt Depreciation Tables E 3 Commands Edit Modes Other Help gt xeaelmn o e band Table ID q Column Type Year Placed in Service Max Values Description 3 Yr Auto JCWAA 30 sw2 SL Mid 3rd Gtr Column No L 4 Percent Maximum Percent Maximum Percent Maximum Percent Maximum he II 46 hz 47 18 33 48 19 34 49 20 50 21 51 22 37 52 23 53 124 54 25 55 2 as 000 s a7 00 cool 10 57 0 58 sg 60 Company H 08 19 2005 Terminal TODO INS 1 2 3 4 5 6 7 8 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 differentiated by the column number see below The Depreciation Tables screen is divided into two parts the header information and the column data 8 40 Fixed Assets User s Manual File Maintenance Depreciation Tables Header information The header information identifies the table 1 Depreci
7. 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 Introduction Welcome to OSAS 1 3 The Fixed Assets System 1 5 Starting OSAS 1 11 Navigating OSAS 1 15 Installation and Conversion Installation 2 3 Conversion 2 5 Setup Setup Considerations 3 3 Setup Checklist and Functions 3 7 Period Work Compute Period Depreciation 4 3 Print Period Depreciation 4 7 Post Period Depreciation 4 11 Forecasting Lease vs Buy Analysis 5 3 Loan Amortization 5 15 Trial Depreciation 5 21 Projected Depreciation Report 5 29 Reports Running Reports 6 3 Additions Journal 6 5 Retirements Journal 6 7 Asset Value Report 6 9 Fixed Assets User s Manual iii Contents Year End Depreciation Comparison Report Gains and Losses Report Depreciation Summary Report Credit Summary Report Credit Recapture Report Property Assessment Schedule Depreciation Tax Report Year End Maintenance Percent of Business Use Report File Maintenance Fixed Assets Tables Depreciation Tables Retire Assets Reinstate Assets Change Fields Master File Lists Printing a Master File List Fixed Assets List Tables List Depreciation Tables List Retired Assets List References System Messages Glossary Index 7 3 7 7 7 9 7 11 7 13 7 15 7 19 7 31 7 35 8 3 8 29
8. Asset ID From AUTO Thru WELDER 0001 State From Thru Active Status GL Asset Acct From O Retired Thru O New Pct Business Use From Suspended Thru O All Assessment Date From E Thru A Company H 08 19 2005 Terminal T000 OVR 1 Select the tax district by which you want to organize the assessment schedule The names of these three fields are determined by the TAXDTxxx table The default descriptions are State County and City Fixed Assets User s Manual 7 15 Property Assessment Schedule Year End 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 you want to include in the schedule The tax district description you selected appear see step one above Enter the range of general ledger 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 sc
9. Column Length 12 Kr Description E y i Fed Tax No Periods This Year Begin Period Endng Period Fiscal Year G L Period Process Company H 08 9 2005 Terminal T000 INS 1 Inthe No Periods 1 52 box enter the number of accounting periods in your book tax other and alternative minimum tax fiscal years 2 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 3 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 4 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 5 Enter the current fiscal year in all the columns 8 32 Fixed Assets User s Manual File Maintenance Tables 6 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 7 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 Fixed Assets User s Manual 8 33 Tables File Maintenance DPRTXxxx Table The DPRTXxxx table stores the maximum dollar limitation and threshold cost for section 179 assets These values are used when y
10. Fixed Assets User s Manual 1 25 Introduction Navigating OSAS 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 guide for full details about the menus available in OSAS Other The Other Commands or F4 menu gives you access to additional utilities and Commands commands not directly related to the function 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 19 for more information on this menu Information The Information or Shift F2 menu gives you access to additional information Menu 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 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
11. IX 6 screen 8 37 text mode command line 1 28 commands 1 27 flags 1 27 function screens 1 25 main menu 1 23 messages 1 28 toolbars 1 21 function screens 1 21 main menu 1 21 tracking additions separately 8 5 Trial Depreciation function 1 6 5 21 JCWAA special allowance 5 25 V Valuation and Credits subscreen 3 11 4 8 8 15 8 22 8 25 8 47 function 4 11 Valuations and Credits subscreen screen 8 15 w workstation date 1 13 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 7 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 4562 Summary 7 20 Year End Maintenance function 7 31 Fixed Assets User s Manual Index Year End Maintenance after year end 7 33 before processing year end 7 31 function 1 8 1 9 4 3 6 7 7 7 7 31 8 24 8 45 log 7 33 screen 7 32 year to date depreciation 8 24 Fixed Assets User s Manual IX 7
12. Sum of lines 23 column h and 24 column h Sum of lines 23 column i and 24 column i Fixed Assets User s Manual 7 25 Depreciation Tax Report Year End Depreciation Tax Report Listed Assets Schedule 08 19 2005 Builders Supply Page 1 4 12 PM Depreciation Tax Report Listed Assets Schedule Bus Basis for Recov Depr Deductible Asset ID Description Qty Use Base Cost Depreciation Per Method Depreciation 179 Expense Listed Properties AUTO 92 2 Auto Stereo System 1 100 1230 08 1230 08 5 0 MOSP 106 28 N A AUTO 95 Automobile Tan LMC 1 30 35735 00 28588 00 3 0 MO3P 9077 43 N A AUTO Automobile Grey LMC 1 75 11000 00 8250 00 3 0 SL 1017 86 N A Subtotal of assets with more than 50 business use 47965 08 38068 08 10201 57 oo Total of listed properties 47965 08 38068 08 10201 57 oo Depreciation Tax Report 179 Expense Schedule Total of 179 Properties Not Listed Total of 179 Listed Properties Total of All 179 Properties 03 19 2005 Builders Supply 4 12 PM Depreciation Tax Report 179 Expense Schedule Asset ID Description Qty Base Cost Page 2 Recov Depr Deductible Per Method Deprecistion 179 Expense Depreciation Tax Report New MACRS Assets Schedule COMPUTER 95 1 5 year property S year property COMPUTER 95 2 Color Monitor Computer Equipment 2003 05 2003 12 2003 08 19 2005 Builders Supply Page 3 4 12 PM Depreciation Tax Report N
13. This command appears only if you have more than one screen of attached documents 8 26 Fixed Assets User s Manual File Maintenance Fixed Assets Attach a Document To attach a document to a customer record follow these steps 1 Click Append or enter A to attach a document The Append Documents dialog box appears 4 Append Documents Commands Edit Modes Other Help 2X te Document Forecast xis Path L Forecasting kJ Description Forecasting Spreadsheet 2 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 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 incorre
14. 10201 57 IVA AA VA 29 Add amounts in column i Enter the total here and on line 7 page 1 29 00 Fixed Assets User s Manual 7 29 Year End Maintenance 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 process Back up your data files and print these reports e Additions Journal page 6 5 e Retirements Journal page 6 7 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 User s Manual 7 31 Year End Maintenance Year End 7 32 Select Year End Maintenance from the Year End menu The Year End Maintenance screen appears Year End Maintenance
15. 317 314 310 307 303 300 296 293 64 27 89 50 10 69 27 83 38 92 45 97 43 97 45 92 38 12 30 1 Cumulative Interest na ON an 10 11 12 13 14 15 16 17 18 1 33 48 62 75 87 98 07 15 22 28 33 37 39 40 40 39 Fixed Assets User s Manual 5 19 Trial Depreciation 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 Trial Depreciation E Commands Edit Modes Other Help RX tz Trial Number 1 Copy From Asset ID Column Description Automobile Grey LMC Pct of Business Use 100 Date Placed in Service 08 22 2005 A Base Cost A 000 00 Periods per Year 12 Salvage Yalue 00 Depr Method or Table ID MOSP 179 Expense 200 00 Recovery Period 30 Applied Credits 300 00 Switch to Method Other Bonus Depr 5250 00 Estimated Lite in Periods 36 Prior Eligible Depr 00 Depreciation Begin Period 05 20
16. 5 9 5 23 7 31 8 19 8 21 8 31 adding an asset 8 5 Additions Journal function 1 6 6 5 produce before year end 7 31 report 6 5 Address Lookup 1 22 1 28 address mapping 1 22 1 28 addresses 1 22 1 28 adjusted cost 8 13 alphabetical sorting 3 4 of numbers 3 4 application interaction 1 5 asset ID how to enter 8 4 parts of 8 4 Asset Value Report function 1 7 6 9 report 6 9 assets listed 8 8 Fixed Assets User s Manual Index retired 6 7 retiring 8 45 assets records 8 3 B back up all files at once 3 14 data files 3 13 programs 3 14 using operating system commands 3 14 using Resource Manager 3 14 when to 3 13 books depreciating 4 4 Browse 1 22 Cc calculating depreciation 4 3 Change Fields sample log 8 58 screen 8 55 changing an asset 8 6 CNVTxxx table 4 5 Codes access codes changing 1 12 codes establishing a format 3 4 setting up 3 4 sorting 3 3 commands access code 1 12 flags 1 27 hot keys 1 27 Proceed OK 1 4 company IX 1 Index access codes for 3 12 Compute Period Depreciation function 1 8 4 3 4 8 8 14 8 25 converting to OSAS version 7 0 2 6 Credit Recapture Report function 7 13 8 47 produce before year end 7 31 report 7 14 screen 7 13 Credit Summary Report function 7 11 produce before year end 7 31 report 7 12 screen 7 11 D data dictionaries 2 3 Data File Conversion function 2 5 2 6 Data File
17. 8 30 OSAS FATAX file and different system versions 1 8 MDI menu 1 17 modes 1 15 graphical 1 15 text 1 23 setup considerations 2 5 starting in other operating systems 1 11 starting in Windows 1 11 Other Depreciation Schedule 7 20 7 22 report 7 27 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 6 Post Period Depreciation function 4 11 Print Period Depreciation function 4 7 Post Period Depreciation and Retire Assets 8 46 before you post 4 12 function 1 9 4 3 4 11 8 24 8 25 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 4 programs backing up 3 14 Projected Depreciation Report function 5 29 Fixed Assets User s Manual Property Assessment Schedule function 7 15 produce before year end 7 31 report 7 17 screen 7 15 R Reinstate Assets Screen Two 8 53 Report Writer 8 29 Reports Additions Journal 6 5 Asset Value Report 6 9 menu 1 6 Retirements Journal 6 7 Resource Manager Data File Conversion function 2 5 2 6 Data File Creation function 2 3 Install Applications function 2 3 2 5 Options and Interfaces function 3 8 Retire A
18. 8 39 8 45 8 51 8 55 9 3 9 5 9 7 9 9 9 11 Fixed Assets User s Manual Introduction Welcome to OSAS The Fixed Assets System Starting OSAS Navigating OSAS Fixed Assets User s Manual 1 1 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 guide for more information on basic OSAS functionality and details on how Resource Manager works within the OSAS system About This Guide 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 Thi
19. 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 Builders Supply Page 1 Credit Recapture Report by Asset ID a FEDTAX Total of Est Act Periods Credits Life Amount Description Life Life Early Retired Unused Recaptured Cranes Derricks 120 120 o 33704 21 00 00 CRANE 33704 21 00 Drill Press 120 120 o 1761 32 00 00 DRILL 1761 32 00 Forklifts 120 120 0 12800 00 00 00 FORKLIFT 12800 00 00 Lathes 120 120 o 12113 73 00 00 LATHE 12113 73 00 Planers Sanders 120 120 o 7883 02 00 00 PLANER 7883 02 00 7 14 Fixed Assets User s Manual Property Assessment Schedule The Property Assessment Schedule shows the assessment 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 4 Property Assessment Schedule O Commands Edit Modes Other Help xelselmal elee Print By Print State O Personal Only County O Real Only O city Personal and Real
20. Fixed Assets User s Manual 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 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 5 25 Trial Depreciation Forecasting Field Description Applied Credits 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 Other Bonus Depr The bonus depreciation is an extra amount the government lets you take with some qualifications consult your accou
21. Lease vs Buy Analysis Lease vs Buy Analysis page 2 Forecasting 08 22 2005 9 03 AM Tax Savings at Tax Rate of 35 Lease Payments Expensed Amount Interest Income Net Expenses Tax Savings on Expenses Tax Credits Total Tax Savings Net Present Value at 10 Lease Payments Interest Income Tax Savings Total P amp L Effect Cash Out flows Lease Payments Expensed Amount Interest Income Tax Savings Net Cash Outflows Net Present Value at 10 Notes 1 Tax Savings computed assuming lease payments 2 Net Present Value is computed assuming period end flows and time zero at the beginning of the first year displayed 3 Salvage residual value assumed to be zero Builders Supply Lease vs Buy Analysis Trial 1 In Lease Analysis 2005 2006 2007 12100 00 33000 00 33000 00 0 00 5725 90 15510 10 12698 50 6374 10 17489 90 20301 50 2230 94 6121 47 7105 53 0 00 2230 94 6121 47 7105 53 24115 07 2005 2006 2007 12100 00 33000 00 33000 00 5725 90 15510 10 12698 50 2230 94 6121 47 7105 53 4143 16 11368 43 13195 97 2005 2006 2007 12100 00 0 00 5725 90 15510 10 12698 50 33000 00 33000 00 2230 94 6121 47 7105 53 4143 16 11368 43 13195 97 44785 07 4 Buy out provision of lease not considered Page 2 2008 2009 Total 33000 00 22000 00 133100 00 0 00 9434 90 4221 10 47590 50 23565 10 17778 90 85509 50 8247 79 6222
22. Percent Maximum Percent Maximum Percent Maximum Maximum 25 000 7660 00 ts 000 sols 000 olse 00 50 000 4900 00 17 m 00 32 mn 00147 i 00 16 670 2950 00 18 000 0 33 000 os 00 8 330 1775 00 19 000 00 000 ols 00 000 00 20 000 00 35 o0 oo s0 00 000 olz o0 00 36 o0 00 51 000 0022 000 00 000 00 52 000 00 23 000 0 38 000 00 53 000 oo 24 000 so 000 00 54 00 25 J 00 000 00 55 oo 26 oa 00 56 pow 00 000 00 57 00 28 000 00 J 00 58 000 00 29 L 00 j 00 59 000 00 30 i 00 f 00 60 000 Company H 08719 2005 Terminal TODO INS 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 point 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
23. 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 Note 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 User s Manual 7 19 Depreciation Tax Report Year End 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 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 prop
24. 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 8 23 Fixed Assets File Maintenance Do not enter a figure in this field unless you are setting up an asset Field Description Annual Depr 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 YTD Depr The year to date depreciation is the sum of the depreciation amounts accumulated and posted during the current fiscal year not including unposted am
25. 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 29 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 18 Fixed Assets User s Manual Forecasting Loan Amortization Amortization Schedule 08 22 2005 9 16 AM Loan Description McMurty Loan Builders Supply Amortization Schedule Page Straight Line Payments per Year Total Number of Payments Loan Principal 352 00 Loan Type Annual Percentage Rate 4 0000 Payment Amount 4 53 First Payment Date 08 22 2005 Far Payment Applied to No Date Amount Principal Interest 1 08 22 2005 4 53 3 36 1 17 2 09 22 2005 4 53 3 37 1 16 3 10 22 2005 4 53 3 38 1 15 4 11 22 2005 4 53 3 39 1 14 5 12 22 2005 4 53 3 40 1 13 2005 TOTALS 22 65 16 30 5 75 6 01 22 2006 4 53 3 41 1 12 7 02 22 2006 4 53 3 42 1 11 8 03 22 2006 4 53 3 44 1 09 9 04 22 2006 4 53 3 45 1 08 10 05 22 2006 4 53 3 46 1 07 11 06 22 2006 4 53 3 47 1 06 12 07 22 2006 4 53 3 48 1 05 13 08 22 2006 4 53 3 49 1 04 14 09 22 2006 4 53 3 51 1 02 15 10 22 2006 4 53 3 52 1 01 16 11 22 2006 4 53 3 53 1 00 17 12 22 2006 4 53 3 54 99 2006 TOTALS 54 36 41 72 12 64 Remaining Principal 348 345 341 338 335 331 328 324 321
26. 12 PM Depreciation Tax Report Tax Form 4562 Summary Part I Election To Expense Certain Tangible Property Under Section 179 NOTE If you have any Listed Property complete part V before you complete Part I l Maximum amount See the instructions for a higher limit for certain businesses I li 19000 00 2 Total cost of section 179 property placed in service see the instructions 2 21 00 3 Threshhold cost of section 179 property before reduction in limitation 1 31 200000 00 4 Reduction in limitation Subtract line 3 from line 2 If zero or less enter O I 41 00 5 Dollar Limitation for tax year Subtract line 4 from line 1 If zero or less enter If married filing separately see the instructions non non 2 BA 19000 00 a Description of property I b Cost Ite Elected Cost NN VA AAA 6 I I PAYA AA VAYA AAA I I PAYA AAA A AAA 7 Listed Property Enter the amount from line 29 J FI OO IA MA AAA AAA AAA 8 Total elected cost of section 179 property Add amounts in column c lines 6 and 7 81 00 9 Tentative deduction Enter the smaller of line 5 and line 8 nn 1 91 00 10 Carryover of disallowed deduction from prior year see instructions 2 2 2222 1101 00 11 Business income limitation Enter the smaller of business income not 0 or line 5 see instructions 11 00 12 Section 179 expense deduction Ad
27. 57 Accum Depr Taken 6518 60 6107 14 6531 25 7071 43 Annual Depr 815 10 1357 14 791 67 1571 43 YTD Depr 815 10 1017 86 593 75 1178 57 Curr Depr 00 00 00 00 Remain Depr Base 2166 30 339 28 197 92 392 86 Acquisition Cost 11000 00 Adjusted Cost 11000 00 Company H osa 9 2005 Terminal TODO INS Fixed Assets User s Manual 8 17 Fixed Assets File Maintenance 8 18 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 are adding an asset record and have not used the Copy From function the entries in the column you just left are copied to the next column If you are changing an asset record your changes are not copied The asset ID with suffix ID and sequence number if any you entered on the Fixed Assets ma
28. 62 29928 35 0 00 8247 79 6222 62 29928 35 2008 2009 Total 33000 00 22000 00 133100 00 9434 90 4221 10 47590 50 8247 79 6222 62 29928 35 15317 31 11556 28 55581 15 2008 2009 Total 33000 00 22000 00 133100 00 0 00 9434 90 4221 10 47590 50 8247 79 6222 62 29928 35 15317 31 11556 28 55581 15 inot lease expense are fully deductible 5 12 Fixed Assets User s Manual Forecasting Lease vs Buy Analysis Lease vs Buy Analysis page 3 08 22 2005 Builders Supply 9 03 AM Lease vs Buy Analysis Trial 1 In Buy Analysis Tax Savings at Tax Rate of 35 Tax Depreciation Expensed Amount Bonus Depreciation 58750 00 58750 00 Net Expenses 58750 00 gt 58750 00 Tax Savings on Expenses 20562 50 a 20562 50 Tax Credits Total Tax Savings 20562 50 A 20562 50 Net Present Value at 10 20562 50 Book Depreciation 58750 00 5 58750 00 Tax Savings 20562 50 a 20562 50 Total P amp L Effect Cash Out flows Cash Price Expenses 117575 00 117575 00 Tax Savings 20562 50 E 20562 50 Net Cash Outflows 97012 50 i 97012 50 Net Present Value at 10 97012 50 Net Present Value is computed assuming period end cash flows and time zero at the beginning of the first year displayed 2 Salvage residual value assumed to be zero End of Report Fixed Assets User s Manual 5 13 Loan Amortization Use the Loan Amortization function to calculate payments based on loan pri
29. 8 15 8 22 8 25 Valuation and Credits subscreen screen 8 15 Fixed Assets User s Manual Valuations and Credits subscreen 3 11 4 8 8 47 Fixed Assets General Information subscreen 8 19 Fixed Assets List function 8 36 8 37 9 5 list 9 5 flags in text mode 1 27 Forecasting JCWAA special allowance 5 6 Lease vs Buy Analysis function 5 3 Loan Amortization function 5 15 menu 1 6 Projected Depreciation Report 5 29 Trial Depreciation function 5 21 forecasting JCWAA special allowance 5 25 G Gains and Losses Report function 7 7 produce before year end 7 31 report 7 8 screen 7 7 General Information subscreen 3 11 8 6 8 7 8 19 8 20 8 36 8 37 summary screen 8 6 viewing summary of 8 6 General Ledger interfaced with Fixed Assets 1 5 3 7 3 8 4 3 4 11 7 4 7 8 7 10 7 12 7 13 7 16 7 36 8 17 8 25 generating initial depreciation values 3 10 GLJRxxx file 4 11 4 12 GLMAxxx file 1 5 3 7 8 17 graphical mode drop down menus 1 19 function screens 1 18 graphical main menu 1 16 Inquiry button 1 22 Maintenance icon 1 22 MDI menu 1 17 shortcut menu 1 19 toolbars 1 21 grouping similar assets 8 5 H hot keys 1 27 IX 3 Index l IDs establishing a format 3 4 setting up 3 4 Inquiry F2 button 1 22 flag 1 27 Install Applications function 2 3 2 5 installing Fixed Assets 2 3 setup considerations 2 5 inventory tags 8 8 IRS 3 9 7 11 7 13 7 19 7 20 7 22 7
30. 9 Year End Depreciation Comparison Report Gains and Losses Report Depreciation Summary Report Credit Summary Report Credit Recapture Report Property Assessment Schedule Depreciation Tax Report Year End Maintenance Percent of Business Use Report Fixed Assets User s Manual Y 7 3 7 1 7 9 7 11 7 13 7 15 7 19 7 31 7 35 7 1 7 2 Year End Introduction Perform the functions explained in this chapter in the sequence they are presented Each report explained before the Year 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 Fixed Assets User s Manual Depreciation Comparison Report 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 ESA Se O Commands Edit Modes Other Help Print Asset ID From a Book Thru FedTax Depr Method From O Other Wad OAMI GL Asset Account From Thru Accum Depr Account From Thru Depr Exp Accourt From Thru Date Placed From Thru Print By Plant From Asset ID Thru Depreciation Method Division From O GL Ass
31. Creation function 2 3 data files backing up 3 13 date fields 1 21 deleting an asset 8 7 depreciation books 4 4 generating initial values 3 10 how current depreciation is calculated 4 8 how it is calculated 4 3 JCWAA special allowance 5 6 5 25 8 12 of active assets 4 3 projected depreciation report 5 29 trial depreciation 5 21 year to date 4 3 8 24 Depreciation Comparison Report function 7 3 produce before year end 7 31 report 7 5 screen 7 3 Depreciation subscreen 3 11 8 17 screen 8 17 Depreciation Summary Report function 7 9 produce before year end 7 31 IX 2 report 7 10 screen 7 9 Depreciation Tables defined 3 9 function 1 8 3 10 5 23 8 39 Depreciation Tables function 8 19 Depreciation Tables List function 9 9 list 8 58 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 deprecitaion current 4 3 DPRTXxxx table 8 34 F F2 Inquiry button 1 22 flag 1 27 F6 Maintenance flag 1 27 icon 1 22 FAMAxxx file 1 7 1 8 1 9 3 7 3 10 5 22 8 5 8 6 FARJxxx file 1 8 1 9 8 45 FATAX f
32. Manual 1 11 Introduction Starting OSAS Logging In After you start OSAS the login screen appears 2 OSAS Login OPEN SYSTEMS Accounting Sofware User ID Sam Company ID H Builders Supply Access Code Save Password To log in to OSAS enter your User ID the Company ID you want to work with and your Access Code If you want to save your access code 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 Finally click OK or press Enter to log in This screen appears only after you have set up users and access codes for the OSAS system Access Codes Access codes limit use of the system and protect sensitive information Each code allows access to specific applications menus and functions If you cannot select a menu or function your access code is not authorized for it Use the Access Codes function in Resource Manager to set up access codes To change access codes select Access code from the File menu click the Access Code button on the toolbar or press F4 on the main menu When the Access Code box appears enter the access code to change to and press Enter 1 12 Fixed Assets User s Manual Starting OSAS Introduction Workstation Date To change the workstation date select Workstation date from the File menu click the Change Date button on the toolbar or press F6 4 Set Workstation Date E ES TIC Workstati
33. Value MAX LIMIT THRESHHOLD 200000 Table ID JCWAA Description Job Creation and Workers Assistance Act No of Columns 3 Column Length 12 Type A Percent 09 11 2001 09 10 2004 Table ID LOCAT Description Locations table No of Columns Z Column Length 12 Type A Location Description LOCATION 1 Plant LOCATION 2 Division LOCATION 3 Department Fixed Assets User s Manual 9 7 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 maximum 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 08 19 2005 3 41 PM Table ID Column Type MOSQ3 MosQ4 MO FP MO Ql 10702 40703 MO 7Q4 M1OP mM1001 mM1002 M1003 M1004 M1SP M15Q1 M1502 M1503 M1504 MZOP mM2001 mM2002 M2003 M2004 M25 M2501 M2502 M2503 M2504 M27R MIR M39R MSOA MSOAA MSOAB MSOAC NONE SL SYD 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 Recov
34. 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 Depreciation Tax Report Year End 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
35. and then type the year and press Enter again Field Depr End Period Curr Fiscal Year Salvage Value 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 Fixed Assets User s Manual 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 8 21 Fixed Assets File Maintenance Field Description Applied Credits 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 Note The total credits you entered on the Valuation and Credits subscreen is different from the applied credits you enter in this field Consult your accountant to determine what portion of the credits you should use to reduce the depreciable base Field Description
36. 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 Credit Summary Report O Commands Edit Modes Other Help xelselma e ee Asset ID From AUTO Print By Thru WELDER 0001 Asset ID Tax Class From O Tax Class Thru O GL Asset Account GL Asset Account From O Location Thru Date Placed From 5 Thru Plant From Thru Division From Print Thu New Only Department From Used Only Thru New and Used Company H 08 19 2005 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 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 User s Manual 7 11 Credit Summary Report Year End m 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 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 defin
37. depreciation or decrease the current and year to date depreciation File unavailable xxxxx 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 A 2 Fixed Assets User s Manual System Messages 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 Fractional years not allowed with sum of the years digits method You can use the sum of the years digits depreciation method only with assets whose depreciable life is measured in whole years Invalid date in directory file name 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 Invalid entry Value has oppos
38. 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 Percent of Business Use Report E O Commands Edit Modes Other Help EE e a AAA AAA Asset ID From AUTO MO Thru WELDER 0001 GL Asset Acct From Thru Pct Business Use From Thru Print O Active O Retired O New Suspended all Company H 0819 2005 Terminal TODO OYR Fixed Assets User s Manual 7 35 Percent of Business Use Report Year End 7 36 Enter the range of asset IDs you want to include in the report or leave the boxes blank to include all asset IDs 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 Enter the range of business use percentages you want to include in the report or leave the boxes blank to include all percentages Select the status of the assets you want to include in the report Select the output device to begin printing the report See Reports on page 1 29
39. enter the date you placed the asset in service Fixed Assets User s Manual Forecasting Trial Depreciation 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 _ Inquiry Depr Method or Table ID _ Inquiry Recovery Period Fixed Assets User s Manual 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 39 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 uses 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 23 Trial Depreciation Field Switch to Method Estimated Life in
40. 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 Fixed Assets User s Manual 4 5 Print Period Depreciation 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 Print Period Depreciation E O Commands Edit Modes Other Help ee Process FedTax Other AMT Current Fiscal Year 2005 2005 2005 Number of Periods in Fiscal Year 12 12 12 Number of Periods Processed This Year Beginning Period
41. 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 Fixed Assets User s Manual The Fixed Assets System Introduction 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 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 Fixed Assets files and to prepare the system for another yea
42. of RAM You may 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 To start OSAS on a computer running Windows double click the OSAS shortcut on the desktop or access the program from the Start menu To start OSAS on an operating system other than Windows enter osas at the operating system prompt If your operating system has graphical capabilities you can also use the OSAS shortcut to start OSAS You can use the u c a and t parameters in OSAS shortcut properties or after the osas command so that the system automatically uses the appropriate user ID company ID and access code 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 aapple cH Note In Windows the u c and a 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 a apple Note You can enter these parameters in any order but you must leave a space between the parameter mark t c or a and the parameter itself Refer to the Resource Manager guide for more information on these parameters Fixed Assets User s
43. 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 User s Manual Year End Field Prior Yr Disallowed Deductions Tax Year Taxable Income Do You Have Evidence of Business Use Claimed Fixed Assets User s Manual Depreciation Tax Report 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
44. organize and subtotal the report 6 Select the output device to begin printing the report See Reports on page 1 29 for more information After the list is produced the Year End menu appears Gains and Losses Report 08 19 2005 Builders Supply 3 55 PM Gains and Losses Report by Asset ID Acq Date Asset ID Date Placed Retired Retired Retired Retired Net Sale Description Date Retired Base Cost Accum Depr YTD Depr Reductions Proceeds ASSET ID WELDER WELDER 0001 01 03 02 1994 BOOK 318265 312971 Welding Machines 03 02 1994 FEDTAX 318265 287510 Business Use 100 02 28 2002 OTHER 318265 312971 Tax Class 1245 A H T TOTAL FOR ASSET ID WELDER 318265 312971 318265 287510 GRAND TOTAL 1394004 1352545 s 3 15215 00 1394004 1241667 gt x 48909 21 1394004 1352045 a 3 15215 00 00 End of Report 7 8 Fixed Assets User s Manual Depreciation Summary Report The Depreciation Summary Report shows the base costs depreciation methods accumulated and year to date depreciation remaining depreciable base and estimated life 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 Depreciation Summary Report Commands Edit Modes Other Help Asset ID From AUTO Print By Thru WELDER 0001 Asse
45. 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 Consider Your Setup 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 you are not sure whether your system is ready for conversion consult your value added reseller Fixed Assets User s Manual 2 5 Conversion Installation and Conversion Converting to Version 7 0 Select Data File Conversion from the Company Setup menu in Resource Manager The Data File Conversion screen appears 4 Data File Conversion E m Commands Edit Modes Other Help gt s6 m9 ojee Select directory on which to create files Enter directory that contains the files to be converted D OSASB0Sidata E Do you want source files erased after conversion Do you want conversion to pause if a problem is found V Appl Description Version Appl Description Version GL General Ledger 6 12 AP Accounts Payable 6 05 AR Accounts Receivable 6 05 BR Bank Reconciliation 6 12 FA Fixed Assets 6 05 JO Job Cost 4 50 Company H 108 1
46. s Manual File Maintenance Fixed Assets 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 Depreciation Use the Depreciation subscreen to record the information the asset depreciation calculations are based on and the results of the calculations Depreciation gt 0 88 Asset ID AUTO Description Automobile Grey BOOK FEDTAX OTHER AMT Base Cost 11000 00 11000 00 1100000 11000 00 Depr Meth Table i st so Q si Recovery Period J J 34 Switch to Method st Est Life Periods T 36 Depr Begin Period os los 200 Depr End Period 05 2005 04 2005 Curr Fiscal Year 2005 2005 Salvage Value 1500 00 1500 00 1500 00 00 179 Expense 00 oo 00 00 Applied 00 00 00 00 Other Bonus 00 00 00 20 Accum Elig Depr 6518 60 8142 85 8708 33 9428
47. 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 See also installation Fixed Assets User s Manual B 3 Glossary cost of replacement cost of reproduction declining balance depreciation methods depreciable cost depreciation discount rate effective tax rate Energy Tax Credit estimated
48. the primary method you chose If you selected sum of the years digits SYD for the primary depreciation 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 Fixed Assets User s Manual Forecasting Field Estimated Life in Periods Depreciation Begin Period pd yyyy Lease vs Buy Analysis Description 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 Enter the accounting period and year you want to 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 Depreciation End Period Salvage Value 179 Expense Fixed Assets User s Manual 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
49. to Process Now Ending Period to Process Now Post Depreciation to GL Period Company H 08 22 2005 Terminal T000 OVR If you have not yet computed period depreciation this prompt appears Period depreciation is not computed Fixed Assets User s Manual 4 7 Print Period Depreciation Period Work 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 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 fiel
50. to start Enter 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 Fixed Assets User s Manual Forecasting Lease Buy Type of Lease Prepayment Payment Amount Number of Payments Payments per Year Number of 1st Year Payments Credit to Take Expenses Cash Price Credit to Take Expenses Fixed Assets User s Manual Lease vs Buy Analysis 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
51. 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 depreciation amounts in the Book column Note Retiring an asset does not remo
52. trail for journal entries Before You Post Before you post current depreciation make sure that you have done these things e Computed the period 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 Post Period Depreciation E Commands Edit Modes Other Help xalselmal elee Have you Printed and verified period depreciation Made a backup of your data files Y Post To Current Fiscal Year 2005 O Last Fiscal Year 2004 Process Book FedTax Current Fiscal Year 2005 2005 Number of Periods in Fiscal Year 12 12 Number of Periods Processed This Year Beginning Period to Process Now Ending Period to Process Now Post Depreciation to GL Period Company H 08 22 2005 Terminal TODO OYR 4 12 Fixed Assets User s Manual Period Work Post Period Depreciation 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 2 If Fixed Assets interfaces to General Ledger and last year files exist in General Ledger select the year to wh
53. 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 8 9 Fixed Assets File Maintenance 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 8 10 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 45 to change the asset status to retired You cannot dispose of an asset until it is retired Enter O or L to indicate 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 Fixed Assets User s Manual File Maintenance Fixed Assets Field Description Date Placed in Enter the date you placed the asset in service You Service
54. 0 00 6500 00 6500 00 6500 00 Other Bonus Depr 00 00 00 00 179 Expense 8500 00 8500 00 00 00 Applied Credits 00 00 00 00 Accum Elig Depr 00 00 00 00 Accum Depr Taken 00 00 00 00 YTD 3801 42 9077 43 13399 38 21838 06 Remaining 16933 58 11657 57 15835 62 7396 94 Retire Asset Company H 08 19 2005 Terminal T000 INS The second screen is similar to the Depreciation subscreen see page 8 17 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 To change something on this screen use the Start Over PgUp command to go 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 User s Manual 8 49 Reinstate Assets Use the Reinstate Assets function on the File Maintenance menu to reinstate a previously retired asset to the active status Note 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 Fixed Assets User s Manual 8 51 Reinstat
55. 05 Prior Depr Taken 00 Depreciation End Period 05 2008 No Years in Prior Depr 00 JONAA Percent 50 0 Print by Period or Year P Y a Print Year From 2005 Thru 2008 Company H 08 22 2005 Terminal TODO OYR Fixed Assets User s Manual 5 21 Trial Depreciation Field Trial Number Inquiry Copy From Asset ID Column Description Pct of Business Use Date Placed in Service 5 22 Forecasting 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 If 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 the 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
56. 104 28 OFFICE 93 1 File Cabinets 07 2002 1142 04 7 0 MO P 149 81 OFFICE 93 4 Walnut Desk Chairs 07 2002 379 93 7 0 MO7P 49 84 COMPUTER 93 1 Portable Computer 06 2002 4782 17 5 0 MOSP 688 64 OFFICE 93 3 Book Shelves 05 2002 121 06 7 0 MO P 15 88 BUILDING Corporate Headquarters Bldg 04 2002 197500 00 27 5 MZ 7R 5385 83 COMPUTER 33 3 Computer Equipment 1993 04 2002 8810 12 5 0 MOSP 1268 66 LAPTOPL Portable Computer 06 2001 5684 78 5 0 MOSP 491 17 COMPUTER 92 1 Computer Equipment 1992 03 2001 7925 47 5 0 MOSP 684 76 OFFICE 92 Office Equipment 1992 03 2001 3323 67 7 0 MO Ql 272 46 COMPUTER 91 Computer Equipment 1991 04 2000 11021 00 3 0 SL 00 OFFICE 91 Office Equipment 1991 04 2000 2421 00 5 0 SL 381 31 LAPTOPZ Micro Computer for Accounting 06 1998 6329 84 3 0 SL 00 LAND 10 Acres Corporate Site 10 1997 45000 00 0 NONE 00 CRANE 0001 Cranes Derricks 03 1994 421302 59 10 0 SL 6790 89 DRILL 0001 Drill Press 03 1994 22016 54 10 0 SL 366 18 FORKLIFT 0001 Forklifts 03 1994 160000 00 10 0 SL 2525 99 LATHE 0001 Lathes 03 1994 151421 66 10 0 SL 2518 45 PLANER 0001 Planers Sanders 03 1994 98537 80 10 0 SL 1544 29 SAW 0001 Power Saws 03 1994 216131 20 10 0 SL 3540 64 WELDER 0001 Welding Machines 03 1994 318265 13 10 0 SL 5293 39 OFFICE 95 Cubes 7639 54 7 0 TOTAL 36451 24 Fixed Assets User s Manual 7 27 Depreciation Tax Report Year End Depreciation Tax Report Tax Form 4562 Summary parts I IV 08 19 2005 Builders Supply Page 6 4
57. 2 Annual Depreciation 7181 82 7181 10 7181 82 12965 22 7181 82 7181 10 7181 82 12965 22 Page A Current Depreciation 598 598 538 1080 1080 49 43 49 44 44 Fixed Assets User s Manual Post Period Depreciation 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 Note 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 A 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 Fixed Assets User s Manual 4 11 Post Period Depreciation Period Work When you post period depreciation both the post date and original transaction date are posted to the GLJRxxx file providing a detailed audit
58. 23 7 24 8 34 8 39 8 42 8 43 8 47 J JCWAA Special Allowance Schedule 7 20 L launching OSAS in other operating systems 1 11 OSAS in Windows 1 11 Lease vs Buy Analysis function 1 6 5 3 report 5 11 5 12 5 13 screen two 5 7 Lease vs Buy Analysis JCWAA special allowance 5 6 listed assets 8 8 Listed Assets Schedule 7 19 7 21 report 7 26 Lists printing 6 3 9 3 Loan Amortization function 1 6 5 15 schedule 5 19 LOCATxxx table 3 9 7 4 7 10 7 12 8 15 8 36 screen 8 36 M main menu graphical 1 16 MDI 1 17 navigating graphical 1 16 IX 4 navigating MDI 1 17 navigating text 1 24 text 1 23 toolbars 1 21 Maintenance F6 flag 1 27 icon 1 22 mapping 1 22 1 28 Master File Lists Depreciation Tables List 9 9 Fixed Assets List 9 5 menu 1 7 Retired Assets List 9 11 Tables List 9 7 Master Lists printing 6 3 9 3 menus drop down menus 1 19 graphical main menu 1 16 MDI 1 17 shortcut 1 19 text main menu 1 23 messages in text mode 1 28 modes graphical 1 15 text 1 23 Modified Accelerated Cost Recovery System MACRS 7 19 N navigating graphical function screens 1 18 graphical main menu 1 16 MDI menu 1 17 text function screens 1 25 text main menu 1 24 to directories and files 1 22 New MACRS Assets Schedule 7 20 report 7 26 New MACRS Schedule 7 22 O Options and Interfaces function 1 5 3 7 3 8 Fixed Assets User s Manual Index OPTxxx table
59. 25 Property Straight Line Mid 3rd Qtr MACRS 25 Property Straight Line Mid 4th Qtr MACRS 27 5 year Straight Line Mid Month MACRS 31 5 Years Straight Line Mid Month MACRS 39 Years Straight Line Mid Month MACRS Alternate Z SOyrs SL MidYr No Max MACRS Alt Z SOyrs SL MidYr Max 7 31 86 12 31 88 MACRS Alt 2 SOyrs SL MidYr Max 1 1 89 12 31 90 MACRS Alt 2 50yrs SL MidYr Max 1 1 91 Present No Method Straight Line Method Sum Of The Years Digits Method 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 08 19 2005 Builders Supply Page 1 3 38 PM Retired Assets List by Asset ID Asset ID CRANE 0001 01 Description Cranes Derricks Retirement Reason Fully Depreciated GL Asset Account 1520 Petirement Amount 421302 59 Retirement Code 2 Retirement Proceeds 00 Petirement Date 02 28 2002 Retirement Expenses DO Retirement Quantity 2 Retirement Credits 33704 21 JCWAA Percent 0 Book FedTax Other A M T Base Cost Retired 421302 59 421302 59 421302 59 00 Depr Method Table ID SL SL SL NONE Estimated Life in Periods 120 120 120 o Actual Life 120 120 120 o Depreciation Begin Pe
60. 4 Parklane Road 04 11 2002 TOTAL FOR ASSET ID BUILDING 197500 00 Fixed Assets User s Manual 6 5 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 08 22 2005 9 49 AM Asset ID Description Retirement Reason ASSET ID COMPUTER COMPUTER 0001 01 Micro Computer for Accounting Fully Retired TOTAL FOR ASSET ID COMPUTER ASSET ID CRANE CRANE 0001 01 Cranes Derricks Fully Depreciated TOTAL FOR ASSET ID ASSET ID DRILL DRILL 0001 01 Drill Press Fully Depreciated TOTAL FOR ASSET ID DRILL Fixed Assets User s Manual Builders Supply Retirements Journal by Asset ID Acq Date Ret Date Ret Amount Begin Period 06 10 1998 05 30 1999 6329 84 6 1997 6 1997 6 1997 2003 6329 84 03 02 1994 02 28 2002 421302 59 3 1993 3 1993 3 1993 2003 421302 59 03 02 1994 02 28 2002 22016 54 3 1993 3 1993 3 1993 12003 22016 54 Depreciation End Period 5 2000 5 2000 5 2000 2003 2 2003 2 2003 2 2003 2003 2 2003 2 2003 2 2003 2003
61. 8 2005 Terminal TODO INS 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 3 Ifyou 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 4 If you want the conversion process to pause if a problem occurs select the box or enter Y in text 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 2 6 Fixed Assets User s Manual Installation and Conversion Conversion 10 11 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 ex
62. 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 Fixed Assets User s Manual B 5 Glossary half year improvement intangible property installation interface investment tax credit ITC Elections journal journal entries lease lessee B 6 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 To join to another application for the purpose of having information entered in one application update information in another application 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 fo
63. ACPRDxxx e DPRTXxxx e JCWAAx e LOCATxxx e TAXDTxxx For more information about each of these tables see their individual descriptions in this section Select Tables from the File Maintenance menu A blank tables screen appears 3 FATB GE Commands Edit Modes Other Help 2xte mealmal e Craen Table ID a Description Number of Cols Column Length Company H 1084 92005 Terminal TODO INS Fixed Assets User s Manual 8 29 Tables File Maintenance 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 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 The number of columns in the table appears in the Number of Cols field 1 77 The length of the columns in the tabl
64. 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 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 1 8 Fixed Assets User s Manual The Fixed Assets System Introduction When you use the Post Period Depreciation function the system adds the current depreciation to the year to date depreciation and resets the curren
65. Assets 8 20 Field Switch to Method Est Life Periods Depr Begin Period pd yyyy File Maintenance 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 Fixed Assets User s Manual File Maintenance Fixed Assets 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
66. ES 12 03 2005 203800 A R SALES TAX 12 03 2005 104400 AJR INVENTORY 12 03 2005 104200 25039 40 AIP AJP LINE ITEMS 12 03 2005 SISSIES SSIS I LS _Enter edit_ allocate _ Goto You can move around the MDI menu these ways e 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 e 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 Fixed Assets User s Manual 1 17 Introduction Navigating OSAS Function Screens Graphical screens contain the same functionality as text screens presented in a graphical format that includes easy access to commands via the mouse A Tax Locations Commands Edt Modes Other Scroll Commands Help Tax Location Name Tax Level H i Tax ID o Authority N Tax on gt Misc Tax Liability Acct Tax Refundable Acct Class Description Sales Tax Purch Tax Tax Collected Tax Paid Consumer Goods Resale Sales 0 000 00 Exempt Sales 000 0 000 00 Ind Agr Prod 0 000 00 Interstate Comm 0 000 00
67. EW NEW NEW NEW NEW NEW NEW NEW NEW NEW NEW NEW NEW NEW USED NEW NEW Account 151000 151000 152000 152000 153000 153000 153000 153000 153000 153000 153000 153000 153000 153000 153000 153000 153000 153000 154000 154000 154000 Assessment Date 12 15 2003 05 22 2004 12 01 2004 05 15 2004 02 01 2004 PAGE Assessed Value 222730 00 00 00 00 00 00 00 00 00 00 1300 00 10552 00 00 00 00 00 00 00 8000 00 00 35000 00 54852 00 222790 00 54852 00 222790 00 l 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 75 100 80 Fixed Assets User s Manual 7 17 Depreciation Tax Report 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 assets 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
68. Est Life Act Base Cost Retired 421302 421302 421302 421302 421302 421302 Depreciation Retired 413302 379598 413302 413302 379598 413302 6 7 Asset Value Report 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 Sample Report 08 22 2005 Builders Supply PAGE 1 9 37 AM Asset Value Report by Asset ID Asset ID Acq Date Net Book Val Current Replace Cost Description Qty Status Replace Cost Value Date Value at Risk ASSET ID AUTO AUTO l 03 14 2001 3666 30 Insurance 05 15 2004 8000 00 4500 00 Automobile Grey LMC ACTIVE 12500 00 Assessment 05 15 2004 8000 00 4500 00 AUTO 92 2 l 03 31 2001 153 50 Insurance 03 31 2001 1000 00 1000 00 Auto Stereo System ACTIVE 00 Assessment 00 00 AUTO 95 1 02 01 2004 20794 58 Insurance 02 01 2004 35735 00 35735 00 Automobile Tan LMC ACTIVE 00 Assessment 02 01 2004 35000 00 35000 00 TOTAL FOR ASSET ID AUTO 24614 38 Insurance 44735 00 32235 00 12500 00 Assessment 43000 00 30500 00 ASSET ID BUILDING BUILDING l 04 11 2002 174757 56 Insurance 04 11 2002 197500 00 197500 00 Corporate Headquarters Bldg ACTIVE 00 Assessment 12 15 2003 222790 00 222790 00 TOTAL FOR ASSET ID BUILDING 174757 56 Insurance 197500 00 197500 00 00 Assessment 222790 00 222790 00 Fixed Assets User s Manual 6
69. FA Asset Documents File oooDoooooOooOooOrR se g Line No 000001 of 000002 Switch to tag Enter edit Append Begin code change Header Field ID Company H 0879 2005 Terminal TODO INS 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 want 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 Fixed Assets User s Manual 8 55 Change Fields File Maintenance Header _ Inquiry 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 Values 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
70. 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 balloon 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 Loan Amortization Forecasting 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
71. I j l b 5 year property IV l l l c 7 year property Dpp VA AAA i I I I d 10 year property IA AAA VA AA i l l l e 15 year property PANA AAA AA i l l l f 20 year property IVA AAA nnna i l l l g 25 year property IA ppp p pnn na i I I I h Residential rental i I I property l I 1 I l I i Nonresidential reall I I I 1 property l l i I I Section C Assets Placed in Service During this Tax Year Using the Alternative Depreciation System 20a Class life PANA VANA AA i l l b 12 year PANA AAA AAA i I I l c 40 year j i I I Part IV Summary see instructions 21 Listed property Enter amount from line 28 e a 4 a 5 E ESE et AE SN tat 21 1 10201 57 22 Total Add line 12 lines 14 17 lines 19 20 in column y and line 21 Enter here and on your return 22 46652 81 23 For assets shown above and placed in service during the current year enter the I PAYA AAA portion of the basis attributable to section 263A costs see instructions 123 1 OO INN 7 28 Fixed Assets User s Manual Year End Depreciation Tax Report Depreciation Tax Report Tax Form 4562 Summary part V 08 19 2005 4 12 PM Builders Supply Depreciation Tax Report Tax Form 4562 Summary Page 7 Part V Listed Property Includes automobiles certain other vehicles cellular telephones certain computers and property used for entertainment recreation or amusement NOTE For any vehicle for which you are using the standard mileage
72. OPEN SYSTEMS Accounting Software Fixed Assets User s Manual PN 2210 FA70 O 2005 Open Systems Holdings Corp All rights reserved Document Number 2210 FA70 No part of this manual may be reproduced by any means without the written permission of Open Systems Inc OPEN SYSTEMS is a registered trademark and OSAS Resource Manager Resource Manager for Windows and Report Writer are trademarks of Open Systems Holdings Corp BB is a trademark and PRO S5 and Visual PRO S are registered trademarks of BASIS International Ltd Novell and NetWare are registered trademarks of Novell Inc Microsoft Windows Windows 95 Windows NT and MS DOS are either trademarks or registered trademarks of Microsoft Corporation Adobe and Acrobat are registered trademarks of Adobe Systems Inc TrueType is a registered trademark of Apple Computer Inc Open Systems Accounting Software for UNIX uses PKZIP utilities from PKWARE Inc 648 N Plankinton Ave Suite 220 Milwaukee WI 53203 Phone 414 289 9788 Internet www pkware com Printed in U S A This manual is recyclable November 2005 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
73. 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 8 22 Fixed Assets User s Manual File Maintenance Field Other Bonus Depr Accum Elig Depr Accum Depr Taken Fixed Assets User s Manual Fixed Assets Description 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 Accumulated eligible depreciation is the total potential depreciation accumulated for an asset up to the end of the last fiscal 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
74. Page 1 Change Field Log Converted Original Total Record New Total Records 2 30 30 1 3 8 4 60 60 New Value LAPTOPL LAPTOPZ 8 58 Fixed Assets User s Manual Master File Lists Printing a Master File List Fixed Assets List Tables List Depreciation Tables List Retired Assets List Fixed Assets User s Manual 9 3 9 5 9 7 9 9 9 11 9 1 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 printing For example if the 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 1 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 4 Fixed Assets List E O ES Commands Edit Modes Other Help aa Asset ID From y Print by Thru Asset ID Tag Number From Tag Number Thru OGL Asset Acct GL Asset Acct From Location Thru Plant From Thru Status Division From Active Thru O Retired Department From O New Thru Suspended Oal Print Summary Print Documents O Detail Company H 0811972005 Terminal T000 OVR Inquiry 2 Select the range of values to print on the report in the list boxes Leave t
75. Periods Depreciation Begin Period pd yyyy 5 24 Forecasting 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 Fixed Assets User s Manual Forecasting Trial Depreciation 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 Depreciation End Period JCWAA Special Allowance Base Cost Salvage Value 179 Expense
76. 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 Fixed Assets User s Manual Navigating OSAS Introduction Function Screens Like the text menu OSAS text function screens can be used on all operating systems and in combination with graphical menus EMOS T000 Invoices Transaction Type 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 Use hot key commands to access information screens or to toggle commands on and off Refer to Appendix B in the Resource Manager guide for more information on these commands and their corresponding hot keys Ifa screen contains more than one section press Page Down when prompted to move to the next section
77. Report Fixed Assets User s Manual Reports 6 3 6 5 6 7 6 9 6 1 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 1 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 4 Asset Value Report a o Commands Edit Modes Other Help es Asset ID From AUTO Print by Thru WELDER 0001 Asset ID Tag Number From O Tag Number Thru 4 O GL Asset Account GL Asset Account From O Location Thru Acquisition Date From A Thru E Print Plant From O Active Thru O Retired Division From O New Thru O Suspended Department From O all Thru Company H 08 22 2005 Terminal T000 OVR Inquiry 2 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 User s Manual 6 3 Running Reports Reports 3 Ifthe screen contains selection options as in the Print By or P
78. 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 e Press S to switch to the Values section of the screen e Press Enter to toggle a file as included or excluded from the copy process e Press A to tag all of the files e Press N to untag all of the files e Press B to begin the change field process Change Fields File Maintenance 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 Records Builders Supply
79. a summary of the General Information subscreen Description Auto Stereo System Tag No 45127 Manufacturer Clear Sound Status ACTIVE Model No 1200 Plant Main Serial No 45 121 8974 Division Executive Acq Date 03 31 1999 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 8 6 Fixed Assets User s Manual File Maintenance Fixed Assets 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 change 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 General Information Use the General Information subscreen to record i
80. 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 e Press H to return to the header section to change the selection you made for printing the log 8 56 Fixed Assets User s Manual File Maintenance Files Fixed Assets User s Manual 8 Change Fields 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 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 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
81. ars 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 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 v 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 funct
82. asset Enter the net expenses involved in buying the asset 5 5 Lease vs Buy Analysis Forecasting 5 6 JCWAA Percent 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 Use the Proceed OK command to save your entries and display the second Lease vs Buy Analysis screen Fixed Assets User s Manual Forecasting Lease vs Buy Analysis Lease vs Buy Analysis Screen Two Use the second Lease vs Buy Analysis screen to enter proposed depreciation information in two columns BOOK and FEDTAX i Lease vs Buy Analysis Commands Edit Modes Other Help ee Page 2 of 2 BOOK FEDTAX Base Cost 11750000 117500 00 Depr Method or Table ID NONE Recovery Period Switch to Method Estimated Life in Periods Depreciation Begin Period 00 000 00000 Depreciation End Period 00 0000 00 0000 Salvage Value 00 00 179 Expense 00 00 Applied 00 00 Other Bonus Depr _ 00 _ 00 00 Cash Price is 117500 00 Company H 08 22 2005 Terminal TODO OYR Fie
83. ate Headquarters Bldg 2005 Book 19750 00 177750 00 Fed Tax 19449 80 178050 20 Other 19750 00 177750 00 A M T 41917 32 155582 68 COMPUTER 92 1 Computer Equipment 1992 2005 Book 6555 94 1369 53 Fed Tax 6555 94 1369 53 Other 6340 38 1585 09 A M T 00 00 08 22 2005 Asset ID Description Year Accumulated Remaining Book Eligible Depr Depr Base Builders Supply Projected Depreciation Report By Year Sorted by Asset ID GL Asset Account Date Placed Annual Depreciation 154000 00 00 00 00 154000 141 71 141 71 141 71 204 93 154000 4147 00 11657 57 10151 04 7396 94 151000 7181 82 7181 10 7181 82 12965 22 153000 913 01 913 01 1585 09 00 Current Depreciation 05 14 2001 00 00 00 00 03 31 2001 141 71 141 71 141 71 204 93 02 01 2004 4147 00 9326 06 8120 83 5917 55 04 11 2002 7181 82 7181 10 7181 82 12965 22 03 31 2001 313 01 913 01 1585 09 00 Tax Cls Accumulated Depreciation 1245 1245 1250 1245 Page 1 Plant Division Department Main Executive 7333 70 9500 00 9500 00 11000 00 Main Executive 1159 25 1159 25 1159 25 1127 61 Main Executive 7948 42 18403 49 21520 21 27755 61 Main 26931 82 26630 90 26931 82 54882 54 Main Financial Accounting 7468 95 7468 95 7925 47 00 Fixed Assets User s Manual 5 31 Running Reports Additions Journal Retirements Journal Asset Value
84. ation 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 Fixed Assets User s Manual 8 41 Depreciation Tables File Maintenance 8 42 Column Data Depreciation Tables Commands Edit Modes Other Help ee 2 Mi lug 1 2 3 4 5 6 7 8 Table ID 4 Column Type Year Placed in Service Description Column No
85. cannot begin depreciating an asset until you have placed it in service When you enter an asset 1t 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 Fixed Assets User s Manual 8 11 Fixed Assets Field Retirement Date JCWAA Special Allowance Acquisition Cost 8 12 File Maintenance Description If the asset status is new active or suspended you cannot access this field If you have changed the status to retired the date you ret
86. cquire 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 atthe 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 No depreciation is taken in the year of acquisition and a full year s depreciation is taken in the year of retirement Fixed Assets User s Manual Numerics 179 Expense Schedule report 7 26 179 Expenses Schedule 7 20 7 22 A access codes changing 1 12 command 1 12 company specific 3 12 entering 1 12 setting up 3 12 what to protect 3 13 ACPRDxxx table 3 9 3 11 4 4 4 5 4 8
87. ct path 3 Use the Proceed OK command to attach the file Fixed Assets User s Manual 8 27 Fixed Assets File Maintenance 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 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 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 28 Fixed Assets User s Manual Tables 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
88. customers but not about employees or vendors See page 1 20 for more information Favorites The Favorites menu allows you add the OSAS menus or functions you use most Menu 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 20 for more information on this menu 1 26 Fixed Assets User s Manual Navigating OSAS Introduction Commands and Flags Both the text menu and text function screens let you use commands to drill down to more information change companies or access codes switch to sample 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 guide for a list of all OSAS commands and their ass
89. d 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 User s Manual Period Work Print Period Depreciation Period Depreciation Journal 08 22 2005 8 37 AM Asset ID Description Column GL Asset Account 151000 TOTAL FOR GL ASSET ACCOUNT Processed Current Fiscal Year Number of Periods in Fiscal Year Number of Periods Processed This Year Builders Supply Period Depreciation By GL Asset Account Beginning Period to Process Now Ending Period to Process Now Post Depreciation to GL Period Depr Depr Method Begin 151000 BUILDING Corporate Headquarters Bldg BOOK SL 04 2003 FEDTAX M27R 04 2003 OTHER SL 04 2003 A M T 150DB 04 2003 LAND 10 Acres Corporate Site BOOK NONE FEDTAX NONE OTHER NONE A M T NONE Est Life 330 330 330 216 Base Cost 197500 00 197500 00 197500 00 197500 00 45000 00 45000 00 45000 00 45000 00 242500 00 242500 00 242500 00 242500 00 BOOK 2005 12 Accumulated Depreciation 17954 17654 17954 38381 55 53 55 35 FEDTAX OTHER 2005 2005 12 12 7 7 3 3 3 8 Year to Date Depreciation 4189 40 4188 98 4189 40 7563 05 4189 40 4188 98 4189 40 7563 05 A M T 2005 1
90. d eligible depreciation The total amount that an asset has depreciated before the current fiscal year for both business and nonbusiness use The basis used to compute gain or loss on disposition of an asset for tax purposes Fixed Assets User s Manual B 1 Glossary Alternative Minimum Tax depreciation A M T amortization application asset Asset Depreciation Range System ADR asset ID asset tag number back up balloon payment B 2 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 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 i
91. d 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 Fixed Assets mea Commands Edit Modes Other Help RX Asset ID Suffix ID Seq No Description Automobile Grey LMC Tag No MY CAR Manufacturer Status ACTIVE Model No Plant Main Serial No Division Executive Acq Date Department Quantity Do You Want to Maintain General Information Valuation and Credits Depreciation Documents LMC 100 DX 1234 4567 8901 03 14 2001 1 Company H 08 19 2005 Terminal T000 INS Use the master screen to select the asset you want to work with and the subscreens you want to access Fixed Assets User s Manual Fixed Assets File Maintenance Asset IDs Inquiry 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 character 14 is the sequence number DRILLPRES0001A Asset ID Suffix ID Sequence Number You can enter an asset ID in these ways e 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
92. d lines 9 and 10 but do not enter more than line ll 1121 00 13 Carryover of disallowed deduction to next year Add lines 9 and 10 less line 12 13 DO PAM AAA AAA NOTE 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 depreciation allowance for certain property other than listed property acquired after I 1 September 10 2001 see the instructions 11 00 15 Property subject to Section 168 1 election see instructions 2 18 I 00 16 Other depreciation including ACRS see instructions a 2 a nee ee 1166 1 00 Part 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 2005 1 17 1 36451 24 18 Are you electing under section 168 i 4 to group any assets placed in service during the tax year into one or more asset accounts see instructions BALLETT ET ome a ER ee NO Section B Assets Placed in Service During this Tax Year Using the General Depreciation System b Month and c Basis for depreciation te I 1 a Classification year placed in business investment use d Recovery Convention f Method g Depreciation of property 1 service only see instructions period 1 deduction l9a 3 year property Dpp ppp p pon nnna
93. depreciation 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 5 9 Lease vs Buy Analysis 5 10 Field Applied Credits Other Bonus Depr Forecasting Description 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 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 printin
94. e Assets File Maintenance Reinstate Assets Screen One 8 52 When you select Reinstate Assets from the menu the Reinstate Assets screen appears Reinstate Assets Commands Edit Modes Other Help ee Asset ID Sequence No AUTO 95 x Acquisition Date Acquisition Cost Adjusted Cost Active Quantity Credits Description Total Credits Retirement Reason Retirement Code Retirement Date Retirement Quantity Retirement Amount Retirement Proceeds Retirement Expenses Description 02 01 2004 35735 00 35735 00 0 Sold sS 08 19 2005 1 35735 00 00 00 Automobile Tan LMC EIER Company H 08 19 2005 Terminal T000 INS 1 Inthe Asset ID box enter the full ID including 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 Fixed Assets User s Manual File Maintenance Reinstate Assets Reinstate Assets Screen Two When you use the Proceed OK command to save the entries on the first screen the second screen appears Reinstate Assets E Commands Edit Modes Other Help fexc eelma elee Asset ID AUTO 95 Description Automobile Tan LMC BOOK FEDTAX OTHER AMT Base Cost 35735 00 35735 00 35735 00 35735 00 Depr Meth Table MO3P SYD 200DB Estimated Life in 60 36 36 36 Actual Life 3 8 8 8 Depreciati
95. e 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 29 for more information After the list is produced the Year End menu appears Depreciation Summary Report 08 19 2005 3 58 PM Asset ID Description OFFICE 94 1 Refrigerator TOTAL FOR ASSET ID OFFICE GRAND TOTAL End of Report Depr Depr of Base Begin End Est Depr Accum Depr Remaining Deprec Year to Date Period Period Life Method Base Cost Taken Depr Base This Year Depreciation BOOK 01 2004 12 2010 84 MO701 1248 96 312 24 735 98 16 07 200 74 FEDTAX 01 2004 12 2010 84 MO701 1248 96 312 24 735 98 16 07 200 74 OTHER 01 2004 12 2010 84 SL 1248 96 178 42 936 72 10 71 133 82 A M T 07 2004 06 2011 84 150DB 1248 96 133 82 935 92 14 35 179 22 BOOK 9431 65 5222 32 3035 01 1174 32 TAX 9431 65 5222 32 3035 01 1174 32 OTHER 9431 65 4222 67 4094 69 1114 29 A M T 6107 98 3092 30 2297 98 717 70 Builders Supply PAGE 4 Depreciation Summary Report by Asset ID BOOK 361777 67 48938 77 263744 15 18594 75 TAX 361777 67 48227 83 256941 14 24072 98 OTHER 361777 67 47021 71 263186 80 27392 08 A H T 325107 54 48086 79 227814 95 35348 66 7 10 Fixed Assets User s Manual Credit Summary Report The Credit Summary Report shows the base costs depreciation methods 179 expenses and adjusted base costs
96. e 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 30 Fixed Assets User s Manual File Maintenance Tables ACPRDxxx Table 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 10 enter 0 in the This Year Begin Period Ending Period GL Period and Process fields If you are setting 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 Fixed Assets User s Manual 8 31 Tables File Maintenance When you enter the table ID the rest of the ACPRDxxx table appears FATB EIER Commands Edit Modes Other Help Fralsejmal ejee Tome Table ID 1 Description Accounting Periods table Number of Cols
97. e around the graphical menu in these ways e 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 e 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 1 16 Fixed Assets User s Manual Navigating OSAS Introduction MDI Main The MDI menu centralizes all OSAS functionality in one location applications Menu 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 OSAS 7 0 Journal Transacti n E Transactions 2005 Edit Transactions Copy Recurring Entries Commands Edit Modes Other Scroll Commands Help GL Joumal GL Activity Report 32 X f Ba aa aa 0 Abandon GL and Transaction Inquiry Edit Transactions to Master Ls GL Account Debit Credit Reference Cflw Description Date Alle 401000 11838 80 A R SALES 12 03 2005 ER 501000 6934 94 AJA ar Fie List 2 Il COST OF SALES 12 03 2005 100000 12388 25 AJA CASH SAL
98. e 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 2 Enter the reason you are retiring the asset 3 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 4 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 5 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 6 The adjusted cost times the retirement 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 Fixed Assets User s Manual 8 47 Retire Assets File Maintenance 8 48 1 The retirement amount cannot exceed the value of the asset 2 If you are retiring part of a multiple unit asset the dollar value of the retireme
99. e default entries are State County and City You can rename the fields to something appropriate to your business If you leave a 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 FATE a Commands Edit Modes Other Help gt xelselmao elee Table ID q Description Tax Districts table Number of Cols 2 Column Length 12 Type Location Description TAX DIST State TAX DIST 2 County TAX DIST 3 City Company H 08 19 2005 Terminal TODO INS 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 Fixed Assets User s Manual 8 37 Depreciation Tables 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 Note Consult your accountant to determine if you need to change these tables or add tables before you begin Fixed Assets processing
100. e report Select the output device to begin printing the report See Reports on page 1 29 for more information After the list is produced the Year End menu appears Fixed Assets User s Manual Year End Depreciation Comparison Report Depreciation Comparison Report 08 19 2005 Builders Supply Page 1 3 53 PM Depreciation Comparison Report by Asset ID Compare Book Against FedTax Asset ID Date Placed Depr Accumulated YTD BOOR FEDTAX Description Bus Use Method Base Cost Depreciation Depreciation YTD Difference ASSET ID AUTO AUTO 05 14 2001 BOOK MO3P 11000 00 6518 60 815 10 Automobile Grey LMC 75 FEDTAX SL 11000 00 6107 14 1017 86 202 76 AUTO SE 2 03 31 2001 BOOK MOSP 1230 08 875 83 106 28 Auto Stereo System 100 FEDTAX MOSP 1230 08 875 83 106 28 00 AUTO 95 02 01 2004 BOOK SL 35735 00 00 3801 42 Automobile Tan LMC 80 FEDTAX MO3P 35735 00 00 9077 43 5276 01 TOTAL FOR ASSET ID AUTO BOOK 47965 08 7394 43 4722 80 FEDTAX 47965 08 6982 97 10201 57 5478 77 ASSET ID BUILDING BUILDING 04 11 2002 BOOK SL 197500 00 12568 18 5386 37 Corporate Headquarters Bldg 100 FEDTAX M27R 197500 00 12268 70 5385 83 54 TOTAL FOR ASSET ID BUILDING BOOK 197500 00 12568 18 5386 37 FEDTAX 197500 00 12268 70 5385 83 54 Fixed Assets User s Manual 7 5 Gains and Losses Report The Gains and Losses Report shows acquisition in service and retirement dates base cost depreciation and reduction amounts retired n
101. ed 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 Select the order in which you want to organize and subtotal the report Select which type of assets you want to include in the report Select the output device See Reports on page 1 29 for more information After the list is produced the Year End menu appears Credit Summary Report 08 19 2005 4 01 PM Asset ID Description Credits Description ASSET ID WELDER WELDER 0001 Welding Machines ITC TOTAL FOR ASSET ID WELDER GRAND TOTAL End of Report 7 12 Builders Supply Credit Summary 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 03 02 1994 BOOK SL 3 1995 318265 318265 318265 13 FEDTAX SL 3 1995 318265 318265 25461 21 OTHER SL 3 1995 318265 318265 A M T NONE f 318265 318265 318265 318265 318265 318265 1707421 22500 00 1684921 1707421 1707421 22500 00 1684921 111267 111267 1707421 14000 00 1693421 276747 08 5000 00 271747 08 00 Fixed Assets User s Manual Credit Recapture Report The Credit Recapture Report shows the estimated and actual asset life difference between estimated and actual life in periods to
102. en 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 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 leave 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 Co
103. eports or forms that make up part of your audit trail cannot be e mailed You also must set up your e mail system in Resource Manager before you can e mail reports Note To preserve formatting view e mailed reports or attachments with a fixed width or monospaced font Courier or Lucida Console for example Consult the Resource Manager guide for more information about reports Fixed Assets User s Manual 1 29 Installation and Conversion Installation Conversion Fixed Assets User s Manual 2 3 2 5 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 megabyte 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 Setting up Fixed Assets Once you have installed Fixed Assets on your system you must prepare your data files for everyday use You can p
104. eripherals 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 Fixed Assets User s Manual Glossary recapture of investment tax credit record recovery rehabilitation credit remaining life restore retirement Rule of 78s Section 179 expense 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 publications on investment credit A unit of information that has other pieces of information assigned to it Eac
105. erty 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 7 20 Fixed Assets User s Manual Year End Depreciation Tax Report Information for Part IV Part V Sections B and C and Part VI of IRS Form 4562 1s 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 4 Depreciatio
106. ery Period Recovery Period Recovery Period Recovery Period Month Placed in Month Placed in Month Placed in Recovery Period Recovery Period Recovery Period Recovery Period Recovery Period Recovery Period Recovery Period oO000000rFr r000000000000000000000000000 End of Report Fixed Assets User s Manual Service Service Service Builders Supply Summary Depreciation Tables List Maximuns i Description MACRS Personal DB sw2 SL Mid 3rd Qtr MACRS Personal DB sw2 SL Mid 4th Qtr MACRS Personal DB swZ SL Mid Year MACRS Personal DB sw2 SL Mid lst Qtr MACRS Personal DB swZ SL Mid Znd Qtr MACRS Personal DB sw2 SL Mid 3rd Qtr MACRS 7 Personal DB swZ SL Mid 4th Qtr MACRS 10 Personal DB swZ SL Mid Year MACRS 10 Personal DB swZ SL Mid lst Qtr MACRS 10 Personal DB sw2 SL Mid 2nd Qtr MACRS 10 Personal DB sw2 SL Mid 3rd Qtr MACRS 10 Personal DB sw2 SL Mid 4th Qtr MACRS 15 Personal DB swZ SL Mid Year MACRS 15 Personal DB swZ SL Mid lst Qtr MACRS 15 Personal DB sw2 SL Mid 2nd Qtr MACRS 15 Personal DB sw2 SL Mid 3rd Qtr MACRS 15 Personal DB sw2 SL Mid 4th Qtr MACRS 20 Personal DB sw SL Mid Year MACRS 20 Personal DB sw2 SL Mid lst Qtr MACRS 20 Personal DB sw2 SL Mid 2nd Qtr MACRS 20 Personal DB sw2 SL Mid 3rd Qtr MACRS 20 Personal DB sw2 SL Mid 4th Qtr MACRS 25 Property Straight Line Mid Year MACRS 25 Property Straight Line Mid lst Qtr MACRS 25 Property Straight Line Mid 2nd Qtr MACRS
107. es on your system For information about how to add or revise depreciation tables refer to the Depreciation Tables function on page 8 39 Fixed Assets 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 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 3 10 Fixed Assets User s Manual Setup Setup Checklist and Functions 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 tak
108. et Account Thru GL Accum Depr Account Department From GL Depr Exp Account Thu O Location vs Book FedTax Other OAMI Y Y y y BA Company H 08 19 2005 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 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 User s Manual 7 3 Depreciation Comparison Report Year End 7 4 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 th
109. et 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 Note 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 Gains and Losses Report E O Commands Edit Modes Other Help xelselmo e ee Asset ID From CRANE 000101 A Thru WELDER 0001 01 Retirement Code From Thru GL Asset Account From Thru Retirement Date From Thru Print by Asset ID O Retirement Code OGL Asset Account Company H 108 19 2005 Terminal TODO OVR Fixed Assets User s Manual 7 7 Gains and Losses Report Year End 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 or leave the boxes blank to include all retirement codes Inquiry 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 to include in the report 5 Select the order in which you want to
110. ew MACRS Assets Schedule Mo Yr Basis for Recov Depr Depreciation Property Class Asset ID Description in Svc Depreciation Per Conv Method Deduction 1276 5 0 mQ 200DB 332 10552 5 0 mQ Z00DB 590 TOTAL 922 7 26 Fixed Assets User s Manual Year End Depreciation Tax Report Depreciation Tax Report JCWAA Special Allowance Schedule 08 19 2005 Builders Supply Page 4 12 PM Depreciation Tax Report JCWAA Special Allowance Schedule New GDS Assets Mo YTr Date Placed Basis for JCWAA Special Property Class Asset ID Description in Svc in Service Allowance Allowance TOTAL 00 New Listed Properties with more than 50 business use Mo Yr Date Placed Bus Basis for JCWAA Special Asset ID Description in Svc in Service Use Base Cost Allovance Allovance TOTAL 00 Depreciation Tax Report Other Depreciation Schedule 08 19 2005 Builders Supply Page 5 4 12 PM Depreciation Tax Report Other Depreciation Schedule Mo Yr Basis for Recov Depr Depreciation Asset ID Description in Svc Depreciation Per Method Deduction COMPUTER 95 2 Computer Equipment 1995 12 2004 10552 26 5 0 MO504 589 86 COMPUTER 95 1 Color Monitor 05 2004 1276 44 5 0 MOsQl 331 87 COMPUTER 94 2 Computer Equipment 1994 12 2003 10552 26 5 0 MOSQ4 3007 40 COMPUTER 94 1 Color Monitor 05 2003 1276 44 5 0 mMOS5Q1 248 90 OFFICE 94 1 Refrigerator 04 2003 1248 96 7 0 mo7Q1 200 74 OFFICE 93 2 FAX Machine 12 2002 794 99 7 0 MO P
111. f 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 Fixed Assets User s Manual B 7 Glossary program property class code purge real property recapture of depreciation B 8 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 12 computing equipment 121 calculators 122 computers 1221 word processing computers 1222 data processing computers 12221 p
112. f 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 Fixed Assets User s Manual File Maintenance Field Tax Class Number Fixed Assets User s Manual Fixed Assets Description 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 facilities 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 1254 Oil gas or geothermal property
113. for more information After the list is produced the Year End menu appears Fixed Assets User s Manual Year End Percent of Business Use Report Percent of Business Use Report 08 19 2005 Builders Supply 4 33 PM Percent of Business Use Report by GL Asset Account Asset ID Depr Est Depr Accumulated Accumulated Annual Description Beg Per Life Base Cost Elig Depr Depr Taken Depreciation GL ASSET ACCOUNT 154000 AUTO 05 2002 E 7333 70 Automobile Grey LMC 05 2002 7125 00 00 05 2002 7125 00 00 05 2002 8250 00 00 AUTO 92 2 01 2002 982 11 141 71 Auto Stereo System 01 2002 982 11 141 71 05 2002 982 11 141 71 07 2002 871 45 204 93 AUTO 95 02 2005 3801 42 4147 00 Automobile Tan LMC 02 2005 9077 43 11657 57 02 2005 13399 38 10151 04 02 2005 21838 06 7396 94 TOTAL FOR GL ASSET ACCOUNT 154000 1757092 1418480 1414128 41261 47 1757092 1314608 1307881 48771 32 1757092 1427567 1421008 49058 72 332747 90296 83435 22187 43 End of Report Fixed Assets User s Manual 7 37 File Maintenance Fixed Assets Tables Depreciation Tables Retire Assets Reinstate Assets Change Fields Fixed Assets User s Manual 8 3 8 29 8 39 8 45 8 51 8 55 8 1 Fixed Assets 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 recor
114. g the report See Reports on page 1 29 another analysis 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 you can change a few numbers and produce When you are finished exit to the Forecasting menu Fixed Assets User s Manual Forecasting 08 22 2005 9 03 AM Starting Year of Analysis Number of Years to Analyze Date Placed in Service Type of Lease Prepayment Payment Amount Number of Payments Payments per Year Number of lst Year Payments Credit to Take Expenses Net Present Value of Lease Base Cost Depreciation Method Table Recovery Period Switch to Method Estimated Life in Periods Depreciation Begin Period Depreciation End Period Salvage Value 179 Expense Applied Credits Other Bonus Depreciation Fixed Assets User s Manual Lease vs Buy Analysis page 1 Builders Supply Lease vs Buy Analysis Trial 1 2005 os 08 22 2005 OPERATING 1000 00 2750 00 48 12 04 100 105528 105528 39 Lease vs Buy Analysis Effective Tax Rate Incremental Borrowing Rate Compounded Investment Rate Discount Rate Cash Price Credit to Take Expenses JCWAA Percent 117500 00 NONE 0 0 NONE 08 2005 00 00 00 58750 00 117500 00 00 117500 00 NONE 0 0 NONE o 08 2005 00 00 00 58750 00 5 11
115. h 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 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 Fixed Assets User s Manual B 9 Glossary service lease straight line depreciation method straight line loan type sum of the years digits depreciation method table tangible property zero and full B 10 A lease for a 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 a
116. he 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 0 ee ee 1 SEEN RE Z a a 01 DO E 000000 000001 1 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 Fixed Assets User s Manual 3 3 Setup Considerations Setup 3 4 e Items 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 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 a
117. he system 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 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 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 0 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 User s Manual In Windows In Other Operating Systems Using Parameters Starting OSAS OSAS runs on an operating system supported by 150 MB of permanent storage and 4 MB
118. hedule Select the output device to begin printing the report See Reports on page 1 29 for more information After the list is produced the Year End menu appears Fixed Assets User s Manual Year End Property Assessment Schedule Property Assessment Schedule 08 19 2005 4 08 PM Asset ID Description STATE MN BUILDING Corporate Headquarters Bldg LAND 10 Acres Corporate Site OFFICE 91 Office Equipment 1991 OFFICE 92 Office Equipment 1992 COMPUTER 91 Computer Equipment 1991 COMPUTER 92 COMPUTER 93 COMPUTER 93 COMPUTER 94 COMPUTER 94 Computer Equipment 1992 Portable Computer Computer Equipment 1993 Color Monitor Computer Equipment 1994 COMPUTER 95 Color Monitor COMPUTER 95 Computer Equipment 1995 LAPTOPL Portable Computer NENRORE OFFICE 933 1 File Cabinets OFFICE 933 2 FAX Machine OFFICE 93 3 Book Shelves OFFICE 933 4 Walnut Desk Chairs OFFICE s 1 Refrigerator AUTO Automobile Grey LMC AUTO 92 2 Auto Stereo System AUTO 95 Automobile Tan LMC TOTAL FOR MN GRAND TOTAL End of Report Builders Supply Property Assessment Schedule RERRERERRRRRRR l o REERERARE by State Personal or Real REAL REAL PERSONAL PERSONAL PERSONAL PERSONAL PERSONAL PERSONAL PERSONAL PERSONAL PERSONAL PERSONAL PERSONAL PERSONAL PERSONAL PERSONAL PERSONAL PERSONAL PERSONAL PERSONAL PERSONAL PERSONAL REAL PERSONAL REAL New or GL Asset Used NEW USED NEW NEW N
119. hese 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 User s Manual 9 3 Printing a Master File List Master File Lists 3 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 4 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 5 Select the output device to begin printing the report See Reports on page 1 29 for more information After you produce the list the Master File Lists menu appears 9 4 Fixed Assets User s Manual 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 3 37 PM ASSET ID AUTO AUTO AUTO BUILDING COMPUTER COMPUTER COMPUTER COMPUTER COMPUTER COMPUTER COMPUTER COMPUTER 08 19 2005 DESCRIPTION Automobile Grey LMC Auto Stereo System Automobile Tan LMC Corporate Headquarters Bldg Computer Equipme
120. iation field cannot exceed the amount in the Annual Depreciation field Either increase the annual depreciation or decrease the year to date depreciation A 4 Fixed Assets User s Manual Accelerated Cost Recovery System ACRS account accounting period accumulated depreciation taken accumulated eligible depreciation adjusted basis 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 for 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 accumulate
121. ich you want your depreciation entries posted 3 Select the output device to begin posting See Reports on page 1 29 for more information After the log is printed the Period Work menu appears Post Period Depreciation Log 08 22 2005 8 42 AM Amount Posted to GL Period 8 ACCUM DEPR ACCUM DEPR ACCUM DEPR DEPR EXP ACCUM DEPR BALANCE 08 22 2005 8 42 AM Processed 152500 153500 154500 521000 181000 Current Fiscal Year Number of Periods in Fiscal Year Number of Periods Processed This Year Builders Supply Post Period Depreciation Builders Supply Post Period Depreciation FedTax Beginning Period to Process Now Ending Period to Process Now Post Depreciation to GL Period Number of Assets in File Number of Assets Processed Depreciation Posted for Book Depreciation Posted for FedTax Depreciation Posted for Other Depreciation Posted for A M T End of Report Fixed Assets User s Manual Other 4 13 Forecasting Lease vs Buy Analysis 5 3 Loan Amortization 5 15 Trial Depreciation 5 21 Projected Depreciation Report 5 29 Fixed Assets User s Manual 5 1 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 a
122. igible Depr 00 Prior Depr Taken 00 Estimated Life in Periods 36 No Years in Prior Depr 00 Depreciation Begin Period 05 2005 Depreciation End Period 05 2008 JCWAA Percent 50 0 Print by Period or Year Print Year From Thru Accumulated Remaining Annual Current YTD Accumulated Eligible Depr Depr Base Depreciation Period Depreciation Depreciation Depreciation 5250 00 1749 83 1749 83 3500 17 2333 63 4083 46 1166 54 4860 99 2008 5250 00 Report 5 28 Fixed Assets User s Manual Projected Depreciation Report 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 Projected Depreciation Report E O Commands Edit Modes Other Help A Asset ID AUTO Print For Year OFFICE 941 3 Tax Class Print By Asset ID GL Asset Account 999800 OGL Asset Account Plant Print Division 2 Detail f O Summary Department Date Placed Books to Print i i Book Print Year u Fed Tax Other AMT Company H 08 22 2005 Terminal T000 OVR __nauiry _ 1 Select
123. ile 1 8 1 9 differences between versions of OSAS 1 8 federal tax class 8 9 file interaction 1 8 File Maintenance Depreciation Tables function 8 39 Fixed Assets function 8 3 menu 1 6 Retire Assets function 8 45 Fixed Assets User s Manual Index Tables function 8 29 files backing up 3 13 FAMAxxx 3 7 3 10 5 22 8 5 8 6 FARJxxx 1 8 8 45 FATAX 1 8 GLMAxxx 3 7 8 17 Fixed Assets adding an asset 8 5 adjusted cost 8 13 and Retire Assets 8 46 application interaction 1 5 asset ID 8 4 before you install 2 3 changing an asset 8 6 converting to version 7 0 2 6 defined 1 3 1 5 deleting an asset 8 7 Depreciation subscreen 3 11 8 16 8 17 Depreciation subscreen screen 8 17 depreciation tables 3 9 8 39 FAMAxxx file 1 8 file interaction 1 8 function 1 8 3 10 3 12 6 5 8 3 9 5 General Information subscreen 3 11 8 7 8 20 8 36 8 37 generating initial depreciation values 3 10 grouping similar assets 8 5 installation 2 3 installing new version before converting 2 5 interfaced to General Ledger 3 8 interfaced with General Ledger 1 5 3 7 4 3 4 11 7 4 7 8 7 10 7 12 7 13 7 16 7 36 8 17 8 25 JCWAA special allowance 8 12 menu structure 1 6 section 179 expense 8 21 sequence number 8 4 setting up 3 10 setup checklist 3 7 setup considerations 2 5 suffix ID 8 4 system requirements 2 3 tables 3 9 8 29 tracking additions separately 8 5 Valuation and Credits subscreen
124. ion 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 User s Manual Navigating OSAS Introduction Text Mode 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 is shown below OSAS T000 Settings Edit Print Help 06 01 2005 Company H Builders Supply 12327 FH Main Menu General Ledger 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 Fixed Assets User s Manual 1 23 Introduction Navigating OSAS 1 24 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 e
125. ired the asset appears Press Enter to accept it or enter a different retirement date 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 original cost of the asset plus the 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 Fixed Assets User s Manual File Maintenance Fixed Assets 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 Adjusted Cost Description The adjusted cost differs from the acquisition cost in that it is the cost figure all other calculations are based on Enter the acquisition cost plus o
126. isting 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 aproblem occurs and you indicated that you want the system to pause when a problem occurs a prompt alerts 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 After conversion is finished and the error log is produced the main menu with Fixed Assets added appears Fixed Assets User s Manual 2 7 Setup Setup Considerations Setup Checklist and Functions Fixed Assets User s Manual 3 3 3 7 3 1 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 t
127. ite sign of acquisition cost Invalid entry Value has opposite sign of base cost Invalid entry Value has opposite sign of prior acquisition cost 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 No more years to depreciate The amount you enter in the Prior Years field cannot exceed the depreciable life of the asset Fixed Assets User s Manual A 3 System Messages Period depreciation is not computed You must use the Compute Period Depreciation function before you can use the Print Period Depreciation or Post Period Depreciation functions Unable to execute program program 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 Unable to load menu record menu from file file 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 YTD depreciation cannot exceed annual depreciation The amount in the YTD Deprec
128. ld Description Base Cost Press Enter to use the base cost you entered on the first screen in the Cash Price field or enter a different base cost Inquiry Depr Method or Table Enter the code for the method of calculating ID 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 Fixed Assets User s Manual 5 7 Lease vs Buy Analysis 5 8 Field Recovery Period Switch to Method Forecasting Description These are the valid codes for calculated depreciation e 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
129. life expenditure B 4 The amount of money needed to replace the asset with a unit of equivalent utility The total amount of money it would take to duplicate an asset as it was when 1t 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 it 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 capitaliza
130. ll 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 all uppercase or all lowercase letters so that the IDs can be sorted correctly Fixed Assets User s Manual Setup Setup Considerations 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 u
131. 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 amount 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 Fixed Assets User s Manual Forecasting Field Balloon Amount Principal Per Period Payment Amount Fixed Assets User s Manual Loan Amortization Description 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 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 This field does not appear if you are working with a fixed principal loan See
132. lvage 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 Fixed Assets User s Manual 8 25 Fixed Assets File Maintenance 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 Note You must set up file types in Resource Manager before you can attach documents See the Resource Manager guide for more information Documents Commands Edit Modes Other Scroll Commands Help es I Asset ID AUTO Automobile Grey LMC Document Name FASAMPLE DOC FASAMPLE XLS Line No 00 of 002 Company H 08 19 2005 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
133. n press the highlighted letter to use a command 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 1l 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 User s Manual 1 15 Introduction 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 Graphical The graphical main menu is shown below Main Menu 4 TODO OPEN SYSTEMSO Accounting Software E File Modes Tools Favorites Other Help Raw mas E H Builders Supply v o OPEN SYSTEMS Accounting Software Main Menu General Ledger 2005 Bills of Materials Kitting Journal Transactions Transactions Bank Reconciliation Reports Copy Recurring Entries Payroll with Direct Deposit Productivity Reports GL Journal Fixed Assets Periodic Processing GL Activity Report General Ledger File Maintenance GL and Transaction Inquiry Inventory Statement Maintenance Edit Transactions Job Cost Master File Lists Post to Master Purchase Order Sales Order Resource Manager Company H Terminal T000 08 02 2005 8 50 AM You can mov
134. n Tax Report a Commands Edit Modes Other Help xa selmal elee Tax Year Dollar Rounding Fl Print Listed Assets Schedule 179 Expenses Schedule New MACRS Assets Schedule JONAA Special Allowance Schedule Other Depreciation Schedule Tax Form 4562 Summary III Maximum Dollar Limitation 19000 00 Threshold Cost 179 Expense 200000 00 Prior Yr Disallowed Deductions Tax Year Taxable Income Do You Have Evidence of Business Use Claimed Is Evidence Written Company H 08 19 2005 Terminal T000 OVR Field Description Tax Year Enter the tax year for which you want to prepare the report Dollar Rounding 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 Print Listed Assets Select or clear the box or enter Y or N in text mode Schedule to indicate whether you want to produce the Listed Assets Schedule Fixed Assets User s Manual 7 21 Depreciation Tax Report Field Print 179 Expenses Schedule Print New MACRS Assets Schedule Print JCWAA Special Allowance Schedule Print Other Depreciation Schedule Print Tax Form 4562 Summary Maximum Dollar Limitation Threshold Cost 179 Expense Year End 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
135. n The Information or Shift F2 menu is available in some graphical or text Menu 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 e General Information 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 guide for more information on how to use the functions on the Information menu Favorites The Favorites menu gives you quick access to the OSAS functions you use most Menu 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 f
136. n 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 User s Manual Glossary bonus depreciation Book depreciation capital asset capital gain capitalization capital lease capital loss Class Life System CLS company convention conversion Extra depreciation that the government lets the taxpayer take with some qualifications during the first year 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
137. ncipal 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 the Forecasting menu The Loan Amortization screen appears Loan Amortization a Commands Edit Modes Other Help xalselmal elee Loan Description McMurty Loan Loan Type Straight Line First Payment Date 08 22 2005 Fs Payments Per Year 12 Loan Principal Annual Percentage Rate Total Number of Payments Balloon Amount Payment Amount Total Interest Print Quarterly Breaks Total Payments Print Yearly Breaks Year From Thru Company H 08 22 2005 Terminal TODO OVR Field Description Loan Description Enter a brief description of the loan Fixed Assets User s Manual 5 15 Loan Amortization Field Loan Type First Payment Date Payments Per Year Loan Principal Annual Percentage Rate Total Number of Payments Forecasting 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
138. nformation that identifies the asset and detailed information about its acquisition 4 General Information 3 Commands Edit Modes Other Help gt xelselmo e ee Asset ID AUTO Listed Asset Tag No MY CAR Description Putomobile Grey LMC Memo u De Property Class Code u Manufacturer LMC Tax Class Number 1245 Model No 100 DX Personal Real PERSONAL Status ACTIVE Quantity 1 OwnediLeased OWNED Serial No 1234 4567 8901 New Used USED Mi 5 v Acquisition Date 03414 2001 E Acquisition Cost 11000 00 Date Placed in Service 05 14 2001 2 Adjusted Cost 11000 00 Date of Last Adjustment 105 4 2001 2 Percent Business Use 75 Retirement Date A Apply Book FedTax V Other V Amt M JONAA Percent 0 State MN Plant main County Hennepin Division Executive City Minneapolis Department Company H 08 19 2005 Terminal T000 INS Fixed Assets User s Manual 8 7 Fixed Assets File Maintenance The asset ID with suffix ID and sequence number if any you entered on the master screen appears Field Description Manufacturer Model No Quantity Serial No Listed Asset Tag No Memo Property Class Code Description Enter a brief description of the asset the name of the manufacturer and the model number If the item is a single item enter 1 If it is a group of identical items enter the total quantity of identical items I
139. nt Depreciation field For example if 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 User s Manual 4 3 Compute Period Depreciation Period Work 4 4 Select Compute Period Depreciation from the Period Work menu The Compute Period Depreciation screen appears ESA Depreciation Commands Edit Modes Other Help xa selmal elee Process Book Fed Tax Other AMT Book FedTax Current Fiscal Year 2005 2005 Number of Periods in Fiscal Year 12 12 Number of Periods Processed This Year Beginning Period to Process Now Ending Period to Process Now Post Depreciation to GL Period Company H 08 22 2005 Terminal T000 OVR The system checks the ACPRDxxx table to see if period depreciation has been computed If it has this prompt appears Period depreciation already computed Do y
140. nt 1991 Computer Equipment 1992 Portable Computer Computer Equipment 1993 Color Monitor Computer Equipment 1994 Color Monitor Computer Equipment 1995 Builders Supply Fixed Assets List Summary By Asset ID DATE ACQUIRED 03 14 2001 03 31 2001 02 01 2004 04 11 2002 04 01 2000 03 31 2001 06 02 2002 04 01 2002 05 17 2003 12 01 2003 05 17 2004 12 01 2004 MANUFACTURER QTY MODEL NUMBER LMC 100 DX Clear Sound 1200 LMC 100 DX Wilson Construction Custom Various Various Sherwood Portable 80 Various Wayne 600 Various Wayne 600 Various Page 1 SERIAL NUMBER TAG NUMBER 1234 4567 8901 MY CAR 45 121 8974 45127 352345ISFD787ADFS799 1234 Parklane Road 314653214 45256 35463568 45199 35463568 45199 Fixed Assets User s Manual 9 5 Tables List 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 Sample List 08 19 2005 Builders Supply 3 37 PM Tables List Fixed Assets Table ID ACPRDH Description Accounting Periods table No of Columns Column 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 Columns Column Length 12 Type A Description
141. nt 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 Enter the amount of the funds derived from the retirement of the asset in the Retirement Proceeds box 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 Fixed Assets User s Manual File Maintenance Retire Assets Retire Assets Screen Two 4 Retire Assets E Commands Modes Other Help as Asset ID AUTO 95 Description Automobile Tan BOOK FEDTAX OTHER AMT Base Cost 35735 00 35735 00 35735 00 35735 00 Depr Meth Table MO3P SYD 200DB Estimated Life in 60 36 36 36 Actual Life 8 8 8 8 Depreciation 02 2005 02 2005 02 2005 02 2005 Depr End Period 01 2010 02 2008 01 2008 01 2008 Salvage Value 650
142. nt to apply it to or clear the box or enter N in text mode for the columns you want to depreciate at 100 percent Tax District 1 2 3 The three tax district names you defined in the TAXDTxxx table page 8 37 appear Enter the appropriate tax district information for each field 8 14 Fixed Assets User s Manual File Maintenance Fixed Assets Field Description Location 1 2 3 The three asset location names you defined in the LOCATxxx table page 8 36 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 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 if Fixed Assets interfaces with General Ledger Valuation and Credits E p Commands Edit Modes Other Help aa AssetID AUTO Description Automobile Grey LMC Insured M Effective Date 05 5 2004 3 Insured Value 8000 00 Assessment Date 05A 5 2004 E Assessed Value 8000 00 Replacement Valuation Date 0545 2004 E Replacernent Cost 12500 00 Credits Desc Total Credits Accumulated Costs Expenses Sales Use Tax Paid GL Asset Account 154000 AUTOMOBILES GL Accumulated Depr Account 154500 ACCUM DEPR AUTOMOBILES GL Depr Expense Account 521000 DEPRECIATIOH EXPEHSE
143. ntant 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 Prior Eligible Depr 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 5 26 Fixed Assets User s Manual Forecasting Field Prior Depr Taken No Years in Prior Depr Print by Period or Year Print Year From Thru Trial Depreciation Description For a new undepreciated asset press Enter to skip this field If you took 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 n
144. ntinue 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 Fixed Assets User s Manual 3 11 Setup Checklist and Functions Setup 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 Access Codes 3 12 To safeguard your system prevent access by unauthorized people Use the Resource Manager Access Codes function to set up access codes on your system You can set up access codes for the Fixed Assets system itself for menus in the system or for individual functions To control users access to menus and functions you can set up an access code for each user or group of users that performs the same functions A Code for Each Company Access codes are company specific When you set up an access code for a user the code is assigned the company you are in Because the codes are company specific you must se
145. ny of them that you like and produce the analysis again Lease vs Buy Analysis Screen One Select Lease vs Buy Analysis from the Forecasting menu The first of two Lease vs Buy Analysis screens appears Lease vs Buy Analysis a Commands Edit Modes Other Help xelselma e ee Page 1 of 2 Trial Number 1 Starting Year of Analysis Effective Tax Rate Number of Years to Analyze 5 Incremental Borrowing Rate Compounded Investment Rate Date Placed in Service 08 22 2005 A Discount Rate Type of Lease OPERATING v Cash Price 117500 00 Prepayment 1000 00 y Payment Amount 2750 00 Credit to Take 00 Number of Payments Payments per Year J Expenses Number of 1st Year Payments Credit to Take JCWAA Percent 50 0 Expenses Company H 08 22 2005 Terminal TODO OYR Fixed Assets User s Manual 5 3 Lease vs Buy Analysis Field Trial Number Starting Year of Analysis Number of Years to Analyze Date Placed in Service Effective Tax Rate Incremental Borrowing Rate Compounded Investment Rate Discount Rate Forecasting 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
146. ociated 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 20 for more information on this menu e 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 When 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 Fixed Assets User s Manual 1 27 Introduction Navigating OSAS 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
147. on 02 2005 02 2005 02 2005 02 2005 Depr End Period 01 2010 02 2008 01 2008 01 2008 Salvage Value 6500 00 6500 00 6500 00 6500 00 Other Bonus Depr 00 00 00 00 179 Expense 8500 00 8500 00 00 00 Applied Credits 00 00 00 00 Accum Elig Depr 00 00 00 00 Accum Depr Taken 00 00 00 00 YTD Depreciation 3801 42 9077 43 13399 38 21838 06 Remaining Depr Base 16933 58 11657 57 15835 62 7396 94 Reinstate Asset Company H 108 19 2005 Terminal TODO INS 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 to the File Maintenance menu Fixed Assets User s Manual 8 53 Change Fields 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 58 When you select Change Fields from the File Maintenance menu the Change Fields screen appears Change Fields E Commands Edt Modes Other Scroll Commands Help as Field ID 4 Original Value New Value File Description COMPUTER 92 LAPTOP1 E Fa Retirement Journal Fil COMPUTER 0001 LAPTOP2 a
148. on Date 08 02 2005 When the Workstation Date box appears use the button or your keyboard to enter the date and press Enter Fixed Assets User s Manual 1 13 Navigating OSAS 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 indepently 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 enter functions and move around function screens When a list of commands appears at the bottom of a function scree
149. ons in brackets lt gt To use a command click the command name or press the hot key combination Refer to the Resource Manager 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 EIS 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 guide for more information on the commands available on the Other Commands menu Fixed Assets User s Manual 1 19 Introduction Navigating OSAS Informatio
150. ou 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 FA a Commands Edit Modes Other Help 2xte mealmal e ee Bearden Table ID A Description Depreciation Tax Table Number of Cols Column Length 12 Type Description Value THRESHHOLD 200000 Company H 08 19 2005 Terminal T000 INS 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 8 34 Fixed Assets User s Manual File Maintenance Tables JCWAAx Table The JCWAAXx table stores the percentage and the beginning and ending dates that the JCWAA uses for determining its calculation in Fixed Assets When you enter the table ID the rest of the JCWAAx table appears FATB E Commands Edit Modes Other Help 2x ts mea ma ee een Table ID Iwan 4 Description Job Creation and Workers Assistance Act Number of Cols i 3 Column Length 12 Type A E Percent Start Date End Date T 09 11 2001 09 10 2004 Company H 08 19 2005 Terminal T000 INS En
151. ou 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 Fixed Assets User s Manual Compute Period Depreciation 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 have 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
152. ounts 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 8 24 Fixed Assets User s Manual File Maintenance Field Curr Depr Remain Depr Base Fixed Assets Description 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 The total remaining asset value that is the base cost less the sa
153. r is not in the FAMAxxx file the Copy From fields appear Asset ID 4 Copy From Asset ID Suffix ID 4 Suffix ID Seq No q Seq No 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 Fixed Assets User s Manual 8 5 Fixed Assets File Maintenance 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 subscreen 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 Change an Asset Tf the asset ID you entered is in the FAMAxxx file a window appears in the middle of the screen Itis
154. r minus adjustments For example if you install a new motor in your delivery truck increasing the depreciable 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 two years later decide to write off part of its value change the value in this field not the value in the Acquisition Cost field Note Remember to change the Date of Last Adjustment field whenever you change the adjusted cost Fixed Assets User s Manual 8 13 Fixed Assets File Maintenance Field Description Percent Business Use 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 Tf 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 Description Apply You can apply the percent of business use to the asset s book federal tax other or alternative minimum tax A M T columns Select the check box or enter Y in text mode for the columns you wa
155. r 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 Fixed Assets User s Manual Glossary lessor menu Modified Accelerated Cost Recovery System MACRS month after month of depreciation Other depreciation personal property personal property tax plant assets post 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 Depreciation begins in the month of acquisition and ends in the month of retirement One of four sets o
156. r 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 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 Fixed Assets User s Manual 1 7 Introduction The Fixed Assets System 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 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 most recent tables comes with the Fixed Assets system
157. rate or deducting lease expense complete only 24a 24b columns a through c of Section A all of Section B and Section C if applicable Section A Depreciation and Other Information Caution See instructions for limitations for passenger automobiles 24a Do you have evidence to support the business investment use claimed YES 24b If Yes is the evidence written YES a I ib I tc I id fe I tf ig th ti Type of property list Date placed Business Cost or other Basis for Recovery Method Depreciation Elected vehicles first service Investment basis Ideprecistion period Convention deduction section 179 l I use petg IBus use onlyl l l l cost 25 Special depreciation allowance for listed property acquired after September 10 2001 IA and used more than 50 in a qualified business use see instructions 1251 DONNA 26 Property used more than 50 in a qualified business use see instructions Auto Stereo System 103 31 2001 100 0 1230 08 1230 081 5 0 Z00DB HYI 106 281 00 Automobile Tan LMC 102 01 2004 80 0 35735 001 28588 001 3 0 Z00DB HYI 9077 43 00 Automobile Grey LMC 105 14 2001 75 0 11000 001 8250 001 3 0 S L HYI 1017 861 00 27 Property used 50 or less in a qualified business use see instructions I I I I I I IVA AAVV VA I 4 I I I I I IVA I I I I I I I IMA VA VA VA 28 Add amounts in column h Enter the total here and on line 21 page 1 I 28
158. repare 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 Fixed Assets User s Manual 2 3 Conversion 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 upgrade Fixed Assets You can upgrade it from version 3 2 4 0x 4 1x 5 xx or 6 xx If you want to convert to version 7 0 from a version earlier than 3 2 contact a client support representative If you are converting from version 6 5x to 7 0 no conversion is necessary You should still use the Data File Conversion function to copy data files from the old data directory to the new directory however Note You must install the new version of Fixed Assets before you convert files You can replace and update the programs
159. rint box in the example select the option to use when printing the list You can select only one option 4 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 5 Select the output device to begin printing the report See Reports on page 1 29 for more information After you produce the report the Reports menu appears 6 4 Fixed Assets User s Manual 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 08 22 2005 Builders Supply PAGE 1 9 43 AM Additions Journal by Asset ID Asset ID Description Acq Date Owned New Personal Tax Depr Tax Bus Acquisition Tag Number Qty Dt Placed Leased Used or Real Method Class Use Cost ASSET ID AUTO AUTO Automobile Grey LMC 1 03 14 2001 OWNED USED PERSONAL SL 1245 75 11000 00 MY CAR 05 14 2001 AUTO 2 2 Auto Stereo System 1 03 31 2001 OWNED NEW PERSONAL MOSP 1245 100 1230 08 45127 03 31 2001 AUTO 95 Automobile Tan LMC 1 02 01 2004 OWNED NEW PERSONAL MO3P 1245 80 35735 00 02 01 2004 TOTAL FOR ASSET ID AUTO 47965 08 ASSET ID BUILDING BUILDING Corporate Headquarters Bldg 1 04 11 2002 OWNED NEW REAL M27R 1250 100 197500 00 123
160. riod 03 1993 03 1993 03 1993 00 2003 Depreciation End Period 02 2003 02 2003 02 2003 00 2003 Salvage Retired 8000 00 8000 00 8000 00 00 179 Expense Retired 00 00 00 00 Applied Credits Retired 00 00 00 00 Bonus Retired 00 00 00 00 Accum Elig Depr Ret 406511 70 372807 49 406511 70 00 Accum Depr Retired 406511 70 372807 49 406511 70 00 YTD Depr Retired 6790 89 6790 89 6790 89 00 Remaining Depr Base 00 33704 21 00 00 Fixed Assets User s Manual 9 11 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 ACPRDxxx is not on file The ACPRDxxx table has been deleted Restore the data from the most recent backup and try again An error occurred while converting files Conversion aborted An error occurred wile creating files File creation aborted If an error occurs during data file creation or conversion a message that describes the problem 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 Asset has unposted current depreciation You must complete period work before you retire an asset You cannot retire an asset with an unposted amount in the Current Depreciation field Basic E
161. rror nn Host Error xxx Line nnnn Program xxxxxx Basic Error nn Line nnnn Program xxxxxx A serious error has occurred Write down the information that appears and get help from a support technician Fixed Assets User s Manual A 1 System Messages Blank date not allowed once asset has been active 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 Column has been processed for all periods 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 Could not find any valid source files for this application The source directory you specified does not contain files for the application you are converting Make sure that you entered the correct source directory and application ID Current YTD depreciation cannot exceed annual depreciation 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
162. s guide is divided into these sections e Chapter 1 introduces OSAS and the Fixed Assets application and describes the basics of the Fixed Assets system and how to navigate around OSAS e 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 e Chapter 3 Getting Started gives information and checklists on the steps you need to perform to set up Fixed Assets Fixed Assets User s Manual 1 3 Introduction Welcome to OSAS e Chapters 4 through 12 contain function descriptions organized by menu These chapters mirror the order that appears on the Fixed Assets menu e The Appendixes contain supplimentary material not directly related to Fixed Assets functionality e The Index is a topical reference to the information in the rest of the chapters and concludes this guide Conventions 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 22 and page 1 27 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 1 4 Fixed Assets User s Manual The Fixed Assets System Use the Fixed Assets system to calculate and
163. s 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 03 19 2005 Builders Supply Page 3 4 29 PM Year End Maintenance Column Depr Switch Base Accumulated Annual Asset ID Description Type Method Done Cost Depreciation Depreciation OFFICE 93 2 FAX Machine BOOK MO P NO 794 99 412 57 99 29 FEDTAX MO P 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 93 3 Book Shelves BOOK MO P 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 93 4 Walnut Desk Chairs BOOK MO P NO 379 93 197 17 47 45 FEDTAX MO P NO 379 93 197 17 47 45 OTHER SL NO 379 93 135 69 54 28 A M T SL YES 379 93 183 08 46 07 OFFICE 94 1 Refrigerator BOOK MO Ql NO 1248 96 512 98 191 22 FEDTAX MO7Q1 NO 1243 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 User s Manual 7 33 Percent of Business Use Report The Percent of Business Use Report shows for all columns the percentage of business use estimated asset life depreciation method base cost accumulated
164. s 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 Fixed Assets User s Manual Compute Period Depreciation 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 depreciation by the number of periods in the fiscal year and places the result in the Curre
165. s 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 Listed 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
166. se 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 WINO05 leaves room for three items in between Fixed Assets User s Manual 3 5 Setup Checklist and Functions 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 access codes Set up a backup schedule DR 2 ROE 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 Ledger 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 m
167. 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 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 28 Fixed Assets User s Manual Navigating OSAS Introd
168. sets from the File Maintenance menu The Retire Assets screen appears 4 Retire Assets E m gt es ma e 88 Asset ID Description Automobile Tan LMC Acquisition Date 02 01 2004 Acquisition Cost 35735 00 Adjusted Cost 35735 00 Active Quantity 1 Credits Description Total Credits 00 Retirement Reason Sold Retirement Code Is Retirement Date osmgraoos fs Retirement Pd Year 082005 Retirement Quantity o Retirement Amount 35735 00 Retirement Proceeds 00 Retirement Expenses 00 You can retire only active assets You cannot retire active assets with unposted amounts in the Current Depreciation field Company H 08719 2005 Terminal TODO INS 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 clear the Current Depreciation field 8 46 Fixed Assets User s Manual File Maintenance Retire Assets 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 th
169. ssets function 1 8 1 9 8 10 8 45 8 53 retiring part of a multiple unit asset 8 48 Screen One 8 46 8 52 Screen Two 8 49 retired assets 6 7 7 7 asset ID plus sequence number 8 45 Retired Assets List function 1 8 8 45 9 11 retirement defined 8 45 Retirements Journal different than Retired Assets List 9 11 function 1 7 1 8 6 7 8 45 produce before year end 7 31 report 6 7 right click menu See shortcut menu 1 19 S screens graphical function 1 18 graphical main menu 1 16 navigating graphical 1 18 navigating text function 1 25 OSAS MDI menu 1 17 IX 5 Index text function 1 25 text main menu 1 23 section 179 expense 8 21 sequence number 8 4 setup checklist 3 7 shortcut menu 1 19 sorting alphabetical 3 4 codes and IDs 3 4 principles of 3 4 starting OSAS in other operating systems 1 11 in Windows 1 11 status new 8 11 retired 8 10 8 45 suspended 8 10 suffix ID 8 4 T Tables depreciation tables 8 39 function 8 29 LOCATxxx 8 36 LOCATxxx screen 8 36 screen 8 29 TAXDTxxx 8 37 TAXDTxxx screen 8 37 tables 3 9 ACPRDxxx 3 9 3 11 4 4 4 5 4 8 5 9 5 23 7 31 8 19 8 21 8 31 CNVTxxx 4 5 depreciation tables 3 9 DPRTXxxx 3 9 8 34 LOCATxxx 3 9 7 4 7 10 7 12 8 15 OPTxxx 8 30 TAXDTxxx 3 9 7 15 8 14 Tables List function 9 7 list 9 7 Tax Form 4562 Summary 7 20 7 22 notes on line calculations 7 24 report 7 28 TAXDTxxx table 3 9 7 15 8 14 8 37
170. ster screen and the description you entered on the General Information subscreen appear Fixed Assets User s Manual File Maintenance Field Base Cost Inquiry Depr Meth Table Inquiry Recovery Period Fixed Assets User s Manual Fixed Assets 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 39 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 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 8 19 Fixed
171. t depreciation to zero 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 Fixed Assets User s Manual 1 9 Introduction The Fixed Assets System Finally t
172. t ID Tax Class From O Tax Class Thru OGL Asset Account GL Asset Account From O GL Accum Depr Account Thru GL Depr Exp Account Accum Depr Account From O Location Thru Depr Exp Account From Thru Plant From Print Thru Active Division From O Retired Thru O New Department Frorn O Suspended Thru Oa Date Placed From Thru Y Company H 0811972005 Terminal TODO OR 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 User s Manual 7 9 Depreciation Summary Report Year End m gt 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 of 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 includ
173. t up a code for each company a user needs to access You can use the same code for each company so that the user does not need to remember different codes For example you can set up the access code CHARM for companies A01 B01 and CO1 so that a user can use the same code for each company Fixed Assets User s Manual Setup Setup Checklist and Functions 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 After you have set up your access codes print a list of the codes and store it in a safe place For more information about access codes see the Resource Manager User s Guide Backup Schedule 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 run these functions e Compute Period Depreciation e Post Period Depreciation e Year End Maintenance e Retire Assets Depreciation Tables
174. 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 User s Manual File Maintenance Depreciation Tables 3 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 N in 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 4 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 the Percent column 5 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 Fixed Assets User s Manual 8 43 Retire Assets When an asset reaches the end of its useful life or when you have taken all the depreciation you can use
175. tal 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 Credit Recapture Report Commands Edit Modes Other Help Asset ID From CRANE 0001 01 Thru WELDER 0001 01 Retirement Code From Thru GL Asset Account From Thru Retirement Date From Thru Print by Asset ID O Retirement Code OGL Asset Account Company H 08 19 2005 Terminal T000 OVR 1 Enter the range of asset IDs you want to include in the report or leave the boxes blank to include all asset IDs 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 2 Enter the range of retirement codes you want to include in the report Fixed Assets User s Manual 7 13 Credit Recapture Report Year End 4 Enter the range of retirement dates you want 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 29 for more information After the list is produced the Year End menu appears Credit Recapture Report 08 19 2005 4 05 PM
176. tem data options and other applications You must set up the following tables before you use the Fixed Assets system e 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 29 Depreciation Tables 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 Fixed Assets User s Manual 3 9 Setup Checklist and Functions Setup 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 compani
177. ter the percentage the JCWAA uses to determine the calculation and the beginning and ending dates to be used for the calculation Fixed Assets User s Manual 8 35 Tables File Maintenance 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 FATB E x lselmo elee Table ID q Description Locations table Number of Cols L 2 Column Length 12 Type la v Location Description LOCATION 1 LOCATION 2 Division LOCATION 3 Department Company H 08 19 2005 Terminal T000 INS 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 8 36 Fixed Assets User s Manual 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 Th
178. 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 Note 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 1s 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 retired 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 User s Manual 8 45 Retire Assets File Maintenance Retire Assets Screen One Select Retire As
179. 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 User s Manual 5 29 Projected Depreciation Report Forecasting 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 29 for more information When you are finished the Forecasting menu appears 5 30 Fixed Assets User s Manual Forecasting Projected Depreciation Report Projected Depreciation Report AUTO Automobile Grey LMC 2005 Book 7333 70 2166 30 Fed Tax 3500 00 00 Other 3500 00 00 A M T 11000 00 00 AUTO 92 2 Auto Stereo System 2005 Book 1017 54 212 54 Fed Tax 1017 54 212 54 Other 1017 54 212 54 A M T 922 68 307 40 AUTO 95 Automobile Tan LMC 2005 Book 3801 42 16933 58 Fed Tax 9077 43 11657 57 Other 13399 38 15835 62 A M T 21838 06 7396 94 BUILDING Corpor
180. the report Select the output device to begin printing the report See Reports on page 1 29 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 1 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 screen Greater of line 3 minus line 2 or zero 5 Greater of line 4 minus line 1 or zero Se Fixed Assets User s Manual Year End 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 Depreciation Tax Report If there are more than two 179 expensed nonlisted assets See 179 Expense Schedule i
181. tion Fixed Assets User s Manual Glossary expired life FedTax depreciation field file fixed asset fixed principal function gain realized gain recognized general ledger half and full 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 FedTax records are normally kept for federal tax purposes See also Book depreciation Other depreciation and A M T depreciation 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 payment 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
182. uction Reports All OSAS applications contain a variety of reports to help you view and analyze your business data Each report function includes a selection screen that allows you to select the range of information to include in the report which appears in alphabetical order when the report is produced After you select the information to include use one of these options to output the report e Select Printer or enter P in text mode to send the report to a printer then select the printer to use e Select Print Preview or enter R to view the report in a preview window from which you can print the report later This option is only available on Windows or graphical Linux workstations running BBj e Select File or enter F to save the report to a file then change the directory path and file name followed by the txt extension if necessary Directory paths and file names must be less than 35 characters in length Note To preserve formatting view the reports you save to a text file with a fixed width or monospaced font Courier or Lucida Console for example e In text mode enter S to view the report directly in an OSAS function screen then select whether to view it in Standard or Compressed width e When available select Email or enter M to e mail the report then enter the e mail address to sent the message to the subject for the message and whether to include the report as an attachment to the message Generally r
183. umber of years the asset has been depreciated It cannot exceed the estimated life of the asset 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 29 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 Fixed Assets User s Manual 5 27 Trial Depreciation Forecasting Trial Depreciation Schedule 08 22 2005 Builders Supply 9 21 AM Trial Depreciation Trial 1 Automobile Grey LMC of Business Use 100 Base Cost 11000 00 Date Placed in Service 08 22 2005 Salvage Value 00 Periods per Year 12 179 Expense 200 00 Applied Credits 300 00 Depr Method Table ID Other Bonus Depr 5250 00 Recovery Period Switch to Method Prior El
184. unctions 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 1 20 Fixed Assets User s Manual Navigating OSAS Introduction 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 Access Command Calendar Toggle Code Help Favorites 2 60 aa e a Application Calculator Call a BBj Pro5 Date Versions 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 MMA de 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 User s Manual 1 21 Introduction 1 22 Navigating OSAS Browse sd If you use BBj in graphical mode you can use the Browse button when it appe
185. ust make a manual GL Journal entry to remove the asset from your books Fixed Assets User s Manual 3 7 Setup Checklist and Functions Setup 3 8 Options and Interfaces Select Options and Interfaces from the Resource Manager Company Setup menu The Options and Interfaces screen appears 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 Fixed Assets Options Commands Modes Other Scroll Commands Help APP 2x jan lmn eleo oo Description Interface to General Ledger Option 001 of 001 Enter Toggle t Write Company H 108 19 2005 Terminal TODO INS 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 1s not installed on your system Fixed Assets User s Manual Setup Tables Setup Checklist and Functions Tables store information relating to the sys
186. ve 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 User s Manual 1 5 Introduction The Fixed Assets System Menu Structure 1 6 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 best combination of down payments and monthly payments for a

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OPEN SYSTEMS® Accounting Software Fixed Assets User`s Manual