Asset Tax Book Setup
By : Mohsen Adel / Dec 2012
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============ Asset Tax Book Setup == ===========================
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Define Tax Book, and assign it to its Corporate Book:
Enter Deferred Depreciation Reserve & Deferred Depreciation Expense Accounts:
Assigning the two books to Asset Category with two different RATES
To copy Assets from Corporate Book to Tax Book use the following Requests:
1- Initial Mass Copy: Use it first time to populate the Tax Book by all Assets
2- Periodic Mass Copy: Use it each period to populate the Tax Book by period new additions
After running the Depreciation Request for each Book:
Tax Book Depreciation = 833.33
Corporate Book Depreciation = 166.67
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Deferred Depreciation Amount = (833.33 - 166.67) = 666.66
Run the following request to calculate the Deferred Depreciating:
After Create Accounting, Review the Deferred Depreciation Journal:
Mohsen Adel / Dec 2012
