Skip to main content

Legal

Tax & Accounting

Trade & Supply

Risk & Fraud

News & Media

Books

Developers

Calculation

Calculate and compare prior depreciation amounts

When adding an asset that's not newly purchased, you'll need to either enter prior depreciation amounts or instruct the application to enter amounts in the Depreciation tab's
Prior Depreciation
 fields.
Perform the steps in this procedure to compare the application-calculated prior depreciation amounts with the amounts entered in the asset's
Prior Depreciation
 fields. You can then specify which amount the application will use for each treatment.
  1. Open the desired client and, if necessary, select an activity folder
  2. Select an asset then select
    Modify
    .
  3. Select
    Prior Depreciation Comparison
     on the toolbar.
    note
    You can also select
    Tasks
     then
    Prior Depreciation Comparison
    , right-click and select
    Prior Depreciation Comparison
     from the context menu, or press
    CTRL+R
    .
  4. In the Prior Depreciation Comparison window, select the tab for the desired treatment and compare the amounts displayed in the
    Amount on file
     and the
    Computed amount
     fields.
  5. For assets coded as listed property, luxury auto, van and light truck, or sport utility vehicle: The current year's business use percentage appears in the
    Current year
     field. If you change the percentage in this field, the
    Business use percentage
     field in the Vehicle/Listed or Home Office tab automatically updates. Enter the business use percentage for each of the prior 5 years, as applicable for the client. These percentages are used in calculating prior depreciation. The
    Five years ago
     field is also used in calculating prior depreciation for any period earlier than 5 years ago.
  6. Indicate which amounts you want to use by performing 1 of the following tasks.
    • For assets coded as listed property, luxury auto, van or light truck, or sport utility vehicle: To save the business use percentages you entered and use the manually entered or proforma'd amounts for all treatments, select
      Save Use Percentages
       then select
      Exit
      .
    • To use the manually entered or proforma'd amounts for all treatments: Select
      Cancel
      .
    • To use the application-calculated amount for a treatment: Select a treatment tab and then select
      This Treatment: Use Computed Amount
      .
    • To use the application-calculated amount for all treatments: Select
      All Treatments: Use Computed Amount
      .

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close