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System maintaining vs. user maintaining the Method/Life Wizard
By default, the system maintains the asset classes and the method/life table for the Tax treatment tab, and the system updates the asset classes, methods, and lives for tax law changes. If you choose to have the system maintain the Method/Life Wizard, you can still add comments to the asset classes and edit the Method/Life table on all but the Tax treatment tab.
If you choose to maintain the Method/Life Wizard, you can add, edit, and delete asset classes. You can also edit the Method/Life table on the Tax treatment tab.
If you choose to maintain the Method/Life Wizard, you will be responsible for updating the Method/Life Wizard for any tax law changes.
note
If you choose to maintain the Method/Life Wizard and you decide at a later time that you want the system to maintain the asset classes and Tax treatment, any changes you made to the asset classes, methods, and lives may be lost.