Group Tax Depreciation

To use group tax depreciation methods for a group of assets, complete these tasks in the following order:

1. Create an alternate depreciation method to use for group tax depreciation.

2. Define assets for group tax depreciation.

3. Create a group master record for group tax depreciation.

4. Run Asset Depreciation for the group of assets.

5. Generate an Asset Depreciation Schedule Report. For more information, see Generating Asset Reports.

Create an alternate depreciation method to use for group tax depreciation

1. Go to Fixed Assets > Setup > Alternate Methods.

2. Enter values for the fields and check the Pool Flag box. For more information, see Creating Alternate Methods (Tax Depreciation Methods).

3. Click Save.

Define assets for group tax depreciation

1. Go to Fixed Assets > Lists > Assets.

2. Select the asset record to include in the group depreciation.

3. On the Asset Record page, click the Depreciation History subtab.

4. Click New FAM Alternate Depreciation Method.

5. In the Alternate Method field, select the group tax depreciation method that you created. You'll notice that Group Depreciation is already checked.

6. Enter the Book Value (NBV).

7. Enter or edit values in the other fields.

8. Click Save.

9. Repeat steps 1 to 8 for each asset in the subsidiary until the group is complete.

Create a group master record for group tax depreciation

1. Go to Fixed Assets > Lists > Assets > New.

2. Type a name for this group master record.

3. On the General subtab, select a Subsidiary. The subsidiary of this group master record must match the subsidiary of the assets defined for the group depreciation.

4. Set Original Cost and Residual Value to zero.

5. Enter values for the following required fields: Asset Type, Accounting Method, and Asset Lifetime.

   Asset Type can be of any value.

6. Enter values for the other fields.

7. Click Save.

8. Click the Depreciation History subtab.

9. Click New FAM Alternate Depreciation.

10. In the Alternate Method field, select the group tax depreciation method.

11. Check the Group Master box.

    The Group Master box is available only if the selected alternate method is a group depreciation method (Group Depreciation box is checked).

12. Click Save.

To run Asset Depreciation for the group, see Asset Depreciation.

To generate a Depreciation Schedule report for the group, see Generating Asset Reports.

After assets are depreciated, you can open the group master asset record and view its depreciation history. The FAM Alternate Depreciation Sublist can be found in the Depreciation History subtab of the asset record. Click the Depreciation Histories link to view the transactions. The Schedule filter in the Depreciation History page provides the following options:

• Yes – Shows only transactions from the Depreciation Schedule Reports (Fixed Assets > Reports > Depreciation Schedule).

• No – Shows transactions from the Asset Depreciation (Fixed Assets > Transactions > Asset Depreciation).

• All – Shows all depreciation history.

Related Topics

• Fixed Assets Management Overview
• Depreciation Methods
• Creating Asset Records from Transactions
• Creating Asset Records through CSV Import
• Creating Asset Records Manually
• Managing Assets

• Fixed Asset Recovery Script

• Asset Depreciation
• French Derogatory Depreciation
• Asset Disposal by Sale or Write-Off
• Partial Disposal of an Asset
• Revaluation of an Asset
• Asset Split
• Asset Transfer
• Deleting Assets

General Notices