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Fixed Assets CS Support

Set up a new treatment in the Method/Life Wizard

To set up a new treatment for the Method/Life Wizard, perform the following steps.
  1. Open the client.
  2. Select
    Setup
    , then
    Method/Life Wizard
    .
  3. Select the tab (
    General
    ,
    Farm
    ,
    Indian Reservation
    ,
    Indian Reservation Farm
    , or
    Governmental
    ) that includes the asset classes you want to edit.
  4. Select the tab for the treatment you want to set up.
  5. For all treatment tabs except Book and Tax, the
    Method/Life Wizard Treatment Options
     window opens. Do one of the following tasks.
    • Select the
      Copy methods and lives for all assets from
       option and then select the treatment from the dropdown list to establish a new treatment based on another treatment. You can then edit the new treatment's methods and lives without affecting the treatment from which you copied methods and lives. Note that selecting this option clears any methods and lives that are currently set up for this treatment before copying over the new methods and lives.
    • Select the
      Clear all methods and lives for all asset classes
       option if you will be changing the treatment to a new treatment and want to clear the old treatment's information first.
  6. The steps to complete setting up a new treatment in the Method/Life Wizard vary depending on whether you are editing existing asset classes or adding new asset classes.
    Edit the methods and lives that you copied from an existing treatment.
    1. In the Asset class list, select the asset class you want to edit and then select the
      Edit
       button.
    2. If you want to add a comment or edit the application-defined comment, use the
      Comments
       field to do so.
    3. In the Method/Life table on the tab for the new treatment, make changes to the asset class by placing your cursor in the Method, Life, and/or ADS Life field and modifying the information.
    4. Select the
      Enter
       button to save the changes you have made to the asset class.
    5. To continue editing asset classes for the new treatment, repeat steps a - d.
    6. To edit asset classes for other Method/Life Wizard types, repeat steps 3 - 6 and a - d.
    Add methods and lives.
    1. Select the
      Add
       button.
    2. In the
      Asset Class
       field, enter the name of the new asset class.
    3. In the
      Comments
       field, enter any comments regarding this asset class that will be helpful during data entry.
    4. Select the
      +
       button on the left side of the Method/Life table to add the 1st method and life for the new asset class.
    5. The date in the
      What date will the new method or life start?
       field defaults to today's date. Enter the 1st date that the method or life you are adding or editing in the Method/Life Wizard is valid for this asset class, and then select
      OK
      . (The application automatically enters 12/31/2999 as the end date.)
    6. In the Method column, choose the proper depreciation method from the dropdown list.
    7. In the Life column, choose the proper life from the dropdown list.
    8. In the ADS Life column, enter the ADS life to be used (when necessary) for AMT, ACE, and E&P calculations.
    9. To continue adding new asset classes for the new treatment, repeat steps a - h.
    10. To edit asset classes for other Method/Life Wizard types, repeat steps 3 - 6 and a - h.
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