Custom Features

• Are there special assets or circumstances for which you would want to define a custom depreciation method?

• You can customize fields to keep track of any needed information that the standard fields do not track. What asset information do you need to store in customized fields?

• You can create a list of valid field entries, called SmartLists, that speed up the data entry process and ensure the consistency of your data.

• How do you want to handle depreciation adjustments? If you haven’t taken enough depreciation on an asset, should you not take the adjustment at all, take it immediately following the adjustment date, or take it in the postrecovery period?

• In which books should you apply the ITC basis reduction?

• Should any books default to using the midquarter convention?

• What default depreciation methods should you use in the Internal and user-defined books?