Depreciation Data Conversion—Intuit EasyACCT to Fixed Assets CS

Review information before the data conversion

• Identify the clients to be converted and note their client IDs and file names in Intuit EasyACCT.
• Identify the client IDs you'll use in Fixed Assets CS. If you'll integrate your depreciation client data with UltraTax CS® and/or Accounting CS®, the client IDs need to match.
• Note the drive and path where the Intuit EasyACCT client data resides.
• Note the entity type of the client (I = Individual, C = C Corporation, S = S Corporation, P = Partnership, and so on).
• Note the current-year beginning and ending dates. (To find the last depreciation year end posted in Intuit EasyACCT, go to the System Navigator bar, select Asset Depreciation, then Company Information. In the Company Information window, go to the Main tab and then to the Last Deprecation Year-end Posted field.)

Create conversion files from Intuit EasyACCT data files

To start the CS Conversions application, double-click
CS Data Conversions
on your desktop.
Go to Conversion Type and select
Depreciation
.
Go to Competitor and select
Intuit EasyACCT
.
Go to Input Data Folder then select
Browse
to navigate to the location where your data is stored.
Select
Start
to start the conversion program.
In the client list, select the client you want to convert then select
OK
.
The client’s data is converted and a Client Data Transfer Report is prepared. When the process is complete, select
OK
.
To process another client, repeat steps 5 through 7.
To import the converted data into Fixed Assets CS, select
Close
and go to the “Import the conversion file into Fixed Assets CS” section.

Import the conversion file into Fixed Assets CS

Double-click
Fixed Assets CS
on your desktop to start the program. If you didn't install the shortcut, select
Start
on the Windows taskbar then select
All Programs
,
CS Professional Suite
, then
Fixed Assets CS
.
Select
File
, then
New Client
to create a new client in Fixed Assets CS.
Select
Utilities
,
Import Asset Data
, then
ASCII file
. If the path specified in the
Location of import
file field is not the location of your Intuit EasyACCTclient data, select
Change Location
  and go to the correct location.
Enter the name of the conversion file you want to import or select the dropdown to view a list of conversion files that are available in the specified location. The name of the conversion file is in the
XXXXXXXXXXX.DSW
format, where
XXXXXXXXXXX
is the client’s file name from Intuit EasyACCT.
Select
Import
to transfer the files.
When the import is complete, select
Done
.
Repeat steps 2 through 6 for each client you’ve created a conversion file for. For any client whose conversion file hasn't yet been created, repeat steps to create conversion files from Intuit EasyACCT.

Converted items—Known exceptions

Converted items—Activity

Converted items—Asset numbers

Converted items—Treatments

Converted items—MACRS 25 assets

Converted items—MACRS straight-line over ADS life (method 4 – SL ADS MACRS)

Converted items—Real property with a life of 40 for MACRS straight-line and MACRS straight-line over ADS life (methods 3 – SL MACRS and 4 – SL ADS MACRS)

Converted items—Declining-balance methods switch to straight-line

Converted items—Intuit EasyACCT ACRS straight-line (method 6 – SL ACRS)

Converted items— Asset life

Converted items—Alternative Depreciation System (ADS) method

Converted items—Alternative Depreciation System, code ASL – MACRS Real

• If the asset was acquired before May 13, 1993, the asset converts to Fixed Assets CS with a life of 31.5.
• If the asset was acquired after May 12, 1993, the asset converts to Fixed Assets CS with a life of 39.

Converted items—BNA Fixed Assets Desktop straight-line AS

Converted items—Indian reservation

Converted items—Asset dispositions

Converted items—Listed property

Converted items—Associations

Converted items—Section 168(k)

Converted items—Business use

Converted items—Section 179

Converted items—Amortization

Converted items—Mid-quarter

Items not converted

• General information, such as client ID, company name, fiscal year-end dates, and short-year information. You'll need to manually enter this information when you add the client.
• ITC Code.
• General ledger account numbers entered in the Expense and Accum Depr fields located in the General Ledger Accounts section in Intuit EasyACCT. You'll need to set up the journal entry accounts in Fixed Assets CS to create asset cost and corresponding depreciation journal entry information.
• Customized depreciation reports. Custom reports are available in Fixed Assets CS.
• Disposition information.
• Information entered in the Traded, Sec, and Sales Price fields entered in the Sale of Assets section in Intuit EasyACCT.

Review the converted data

Make any necessary changes identified in the “Items not converted” section of this article.
Print the
Asset Depreciation Report
in Intuit EasyACCT.
Print the
Tax Asset Detail Report
in Fixed Assets CS.
Compare the totals for basis, accumulated depreciation, and current depreciation expense.
Print and review the
Client Data Transfer Reports
.

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