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Fixed Assets CS Support

Depreciation: Rounding differences

Both UltraTax CS and Fixed Assets CS have the ability to round, however the default in Fixed Assets CS is to not round while UltraTax CS always rounds.

UltraTax CS

UltraTax CS will always round each asset to the nearest dollar and then total the rounded figures to arrive at the depreciation that is reported on tax forms. There aren't any rounding options and it is not possible to have the application not use pennies. If an asset's remaining depreciable basis is $1.01 or less, the application automatically adds this amount to the current depreciation amount and sets the remaining amount to zero to prevent future rounding issues.

Fixed Assets CS

Fixed Assets CS by default won’t round. The application adds the cost\basis of each asset and uses this figure, including pennies, on reports and forms. To enable rounding, go to
Setup
, 
Options
, then
Miscellaneous
. When rounding, if an asset's remaining depreciable basis is $1.01 or less, the application automatically adds this amount to the current depreciation amount and sets the remaining amount to zero to prevent future rounding issues.
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