Depreciation Data Conversion—ProSeries Fixed Asset Manager 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 ProSeries Fixed Asset Manager.
• 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 ProSeries Fixed Asset Manager 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 (found in the Dates tab in the Client Information window).

Create conversion files from ProSeries Fixed Asset Manager 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
ProSeries
.
Go to Input Data Folder and 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 isn't 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 for 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 ProSeries Fixed Asset Manager.
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 the procedures in the “Create conversion files from ProSeries Fixed Asset Manager data files” section.

Converted items—Known exceptions

Converted items—Activity

Converted items—Treatments

Converted items—Methods

Converted items—MACRS 25 assets

Converted items—MACRS 150% DB method

Converted items—Alternative Depreciation System (ADS)

Converted items — ProSeries Fixed Asset Manager ACRS straight-line

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 dispositions

Converted items—Listed property

• 1040 clients with assets attached to Schedule A, Itemized Deductions that have a property type of 200% AUTO, 200% ELECTRIC, 200% TRUCK, 200% SUV, 150% AUTO, 150% TRUCK, 150% SUV, SL AUTO, SL ELECTRIC, SL TRUCK, SL SUV, ADS SL AUTO, ADS SL ELECTRIC, ADS SL TRUCK, ADS SL SUV, ALT SL AUTO convert to Fixed Assets CS as Other business & personal. After you convert these assets into Fixed Assets CS, you can manually reassign the assets to different folders and change the listed property code to comply with the depreciation expense limitations for vehicles.
• Real property assets with a business use percentage other than 100 percent convert as Other business & personal.
• All other assets with a business use other than 100 percent convert as Listed property (Non-vehicle).

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.
• General ledger account numbers. GL asset account, GL depr. / amort. exp. acct., and GL accum. depr. / amort. acct. numbers in the Detail tab in ProSeries Fixed Asset Manager. You must 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.
• Custom depreciation methods.
• Asset notes.
• Disposition Information, other than the disposal date, located in the Disposal tab in ProSeries Fixed Asset Manager.

Review the converted data

Make any necessary changes identified in the “Items not converted” section of this document.
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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