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Depreciation

Best uses for renaming clients

It's important to rename clients in CS Professional Suite correctly to ensure the advanced integration between the 2 applications. Fixed Assets CS and UltraTax CS can
Save As
 or
Rename
 a client. Each action creates a new client. Review the following for the differences between the 2 actions and the ramifications on integration between the applications.
Actions:
  • Rename
    : Select
    File
    , then
    Rename
    . This renames all files in a client, including prior-year depreciation data files
  • Save As
    : Select
    File
    , then
    Save As
    . This creates a 2nd copy of all files in a client under a different name, including prior-year depreciation data files. The original client data files will still exist under the original name. After you perform a
    Save As
    , 2 copies of the client exist under 2 different names.
Ramifications
When you rename a client by selecting
File
, then
Rename
, you rename all client files. This includes the depreciation data files for prior years. So, if you processed a client in 2007–2014 UltraTax CS under the name “Smith” and then renamed the client in 2015 UltraTax CS to “Jones”, you remove the depreciation from “Smith” in prior (2007-2014) years of UltraTax CS. This is because there's no more 2007–2014 depreciation data files for “Smith”, as you renamed them to “Jones”. In this scenario, the best option is to use
Save As
, as this will make a copy of the Smith depreciation files. This will name them “Jones”, leaving the original “Smith” depreciation data files in place. You can then delete client “Smith” from 2015 UltraTax CS, which only deletes the 2015 depreciation data file. The prior-year “Smith” depreciation data files remains.

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