Depreciation Defaults

The application sets defaults for the book information fields in all open depreciation books based on the entries in the Tax book. This section specifies which defaults the system sets for each book. After you finish entering information for the Tax book, press Tab to move to the next open book; the system will set the defaults. If you want to change the defaults, you can override them for any asset by entering other data.

The system copies the ITC option from the Tax book to all other books; you cannot change it in the other books. The system also copies the date placed in service and the acquired value from the Tax book to all other books, where you can override them.

If the tax book is closed when you add an asset, the system cannot set defaults in the other books. The only exception is the user books, for which you can specify a default depreciation method using the Book Defaults tab on the Edit Company window.