Book Defaults Tab

Follow the guidelines provided below to complete the Book Defaults tab of the New Company window or Edit Company window.

The application can keep as many as twenty depreciation books for each company. Seventeen of the book titles can be customized to identify their use. The book titles that can be customized will be referred to by their original names throughout the Help Topics. The original book name can always be found in parentheses below the book title in the column header on the Book Defaults tab of the New or Edit Company dialogs.

If you happen to delete a book that has been created within the same session of New or Edit Company, then any books created after the deleted book was created will have their original book name updated once the entries on the dialog have been saved. For example, State 1(Book 08), State 2 (Book 09), State 3 (Book 10) and State 4 (Book 11) are added during the current session of New Company or Edit Company. If State 1 (Book 08) is deleted before the edits on the dialog have been saved then once the edits have been saved and the Edit Company dialog is accessed again, the new books will display as State 2 (Book 08), State 3 (Book 09) and State 4 (Book 10).

The fields on the Book Defaults tab are arranged in columns and rows. One field is duplicated across a row and corresponds to the book listed at the top of each column. The information you enter in the Book Defaults tab affects the book information fields you access when adding a new asset.

Items in this window

Item	Notes
Open Book	The decision whether to use a specific book.
Book Title	The ability to change the name of the State, AMT, and user-defined books.
Fiscal Year End	Select the last month of the company's original fiscal year. For information about this field when a short year has been entered, see Short Years Example. Note: If the end of the fiscal year has changed since the company’s first year, select the Short Years tab and enter the change(s) there. Afterwards, the fiscal year-end field will reflect the current fiscal year-end. If the company’s first year of business was less than 12 months and you later need to correct the original fiscal year-end date, you must first clear all the short years. The best way to do this is to select the Short Years tab and select the Clear Short Years button. The application clears the short years entered in Years 2 to 20 (if any). You can now return to the Book Defaults tab and enter the correct year-end dates for the company’s first year in the Fiscal Year End field.
Emulate Book	The ability to copy the system's default entries for a specific book into another book.
Default Method	The depreciation method that is used as the default method in the non-tax books (Internal and Books 06 through 20).
Enable Begin Fields	The decision whether to allow the entry or edit of beginning depreciation amounts.
Delete Book	The ability to delete user-defined books added during the current session of New or Edit Company.