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  • Product: Fixed Assets CS

Change a client to a different processing period

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Changing the current-period ending date in the
File
, then the
Client Properties
 dialog doesn't update the application's calculated depreciation values. Perform the steps in this procedure.
To change 1 client to a different processing period, perform the following steps.
  1. Complete all data entry for the client.
  2. Print all necessary reports for the current processing period.
    note
    If you also use Accounting CS or Creative Solutions Accounting (Write-Up CS or Trial Balance CS) to process the open client, you should create the journal entry transaction file.
  3. Select
    File
    , then
    Backup
     and complete the backup procedure for the open client.
  4. Select
    File
    , then
    Select Period to Process
    .
    note
    Depending on your security configuration, you might need to enter the master password before you can open the
    Select Period to Process
     window.
  5. In the
    Select Period to Process
     window, select the ending date for the period to which you want to change.
  6. Select the link that corresponds to the task you are performing for more information.
    Advancing to a new month or quarter within the same fiscal year
    Fixed Assets CS automatically does the following tasks when you advance to a different processing period within the same fiscal year.
    • Updates the current-period ending date in the
      File
      , then
      Client Properties
       dialog. This date also displays in the title bar of both the
      Asset List
       window and the
      Asset Detail
       dialog.
    • Adds the current-period's depreciation to the YTD depreciation.
    Moving to a prior month or quarter within the same fiscal year
    Fixed Assets CS automatically does the following tasks when you change to a different processing period within the same fiscal year.
    • Updates the current-period ending date in the
      File
      , then
      Client Properties
       dialog. This date also displays in the title bar of both the
      Asset List
       window and the
      Asset Detail
       dialog.
    • Displays the prior period's depreciation.
    Moving to a prior fiscal year without closing the current year
    Fixed Assets CS automatically does the following tasks when you move to a prior fiscal year without closing the current year.
    • Updates the current-period ending date in the
      File
      , then
      Client Properties
       dialog. This date also displays in the title bar of both the
      Asset List
       window and the
      Asset Detail
       dialog.
    • Displays the prior fiscal year's depreciation information.
    • If you don’t move back to the current year prior to closing the client, Fixed Assets CS automatically moves you to the current year when you reopen the client.
    note
    Only the last period of the prior fiscal year can be accessed.
    Merging to an existing fiscal year
    Fixed Assets CS automatically does the following tasks when you merge to an existing fiscal year end.
    • Updates the current-period ending date in the
      File
      , then
      Client Properties
       dialog. This date also displays in the title bar of both the
      Asset List
       window and the
      Asset Detail
       dialog.
    • Adds any assets entered in the prior year.
    • Updates any changes to depreciation amounts for existing assets.
    • Removes any assets that were disposed of in the previous period.
    note
    • If a treatment is added to a prior period, its values won’t transfer when you merge unless the treatment is already set up in the exiting fiscal year.
    • If association values are changed in an existing asset for the prior year, the association changes won’t transfer when you merge to the existing fiscal year. Manually change the association values in the current-year asset.
    • Data can't be merged to an existing short year.
    Closing to a new fiscal year
    Fixed Assets CS automatically does the following tasks when you close to a new fiscal year.
    • If you choose to overwrite the existing data, deletes all existing data already present within the new year or any subsequent year.
    • If you choose to merge to the next year, any changes in future periods are retained.
    • Updates the current-period ending date in the
      File
      , then
      Client Properties
       dialog. This date also appears in the title bar of both the
      Asset List
       window and the
      Asset Detail
       dialog.
    • Advances the fiscal year ending date on the
      File
      , then
      Client Properties
       dialog by 1 year.
    • Adds the current-period depreciation and the YTD depreciation for the year just completed to the prior depreciation.
    • Zeroes out the YTD depreciation for all assets.
    • Deletes all assets disposed of by sale, scrap, casualty, theft, or like-kind exchange during the fiscal year just completed. If the
      Display prior year disposals/transfers that occurred during the personal property assessment period ending
       checkbox is marked and the assessment date is entered in the
      Setup
      ,
      Options
      , then
      Asset List
       tab, assets disposed of in the prior year will be displayed in the future year. These assets are used for some state personal property tax returns.
    • Calculates the new current-period depreciation for each asset.
    • For assets with a section 179 expense amount, the amount in the
      Sec 179 expensed
       field in the Other column (when deriving Earnings & Profits from Tax) in the
      Depreciation
       tab of the
      Asset Detail
       dialog is incremented by 20 percent of the total section 179 expense entered in the Tax column for each of the 4 taxable years following the year of acquisition.

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