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Depreciation

Rounding differences

UltraTax CS and Fixed Asset CS have the ability to round. However, the default for Fixed Assets CS is not to round while UltraTax CS always rounds.

UltraTax CS

UltraTax CS always rounds each asset to the nearest dollar and then totals the rounded figures to report the depreciation on tax forms.
There are no rounding options and the application can't exclude using pennies. If an asset's remaining depreciable basis is $1.01 or less, the application automatically adds this amount to the current depreciation amount.
The application then sets the remaining amount to zero to prevent problems with future rounding.

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
.
If an asset's remaining depreciable basis is $1.01 or less when rounding, the application automatically adds this amount to the current depreciation amount. The application then sets the remaining amount to zero to prevent problems with future rounding.

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