Set up asset associations
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Associations are used to sort assets during data entry (by selecting a column heading in the Asset List window), to categorize assets to report purposes, and enter additional information needed for UltraTax CS personal property tax returns. They may also be used to focus the list of available assets when reassigning assets or selecting assets for a mass transfer or mass disposition.
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Associations are set up on a client-by-client basis. Except for the Oil & Gas association, once set up, associations are available in all activities for the open client. The Oil & Gas association is available only for 1040, 1120, 1065, and 1041 clients for Business and Rental activities.
- Open the client.
- Go to the Asset module for the applicable activity.
- SelectSetup, thenAssociations.
- Do one or both of the following tasks.
- Mark the checkbox for the association you want to set up.noteIf you mark one of theCustomcheckboxes, theAssociation Titlewindow opens automatically. Enter the name of the custom association and selectContinue.
- For UltraTax CS personal property tax returns, select theEnablebutton to turn on all associations that are needed for any states that are attached to this client.
- Select the association that you want to set up (if it isn't already highlighted) and select thePropertiesbutton.TheAssociation Propertieswindow opens (unless you are setting up an Oil & Gas association, in which case theOil & Gaswindow opens).The steps to finish setting up your association vary depending on whether the association will or won’t maintain a list of acceptable values, or if you are setting up the Oil & Gas association.noteYou can't edit the list of acceptable values for application-defined associations for which the application maintains the lists. Most of these associations end with a state ZIP Code (for example, County - KY). These associations only appear in theAssociationswindow if an UltraTax CS personal property tax return is available for a state that is attached to the current client.
- Select the appropriate link for more information.Association that doesn’t maintain a list.
- Select theA list of acceptable values is not maintainedoption.
- Select the option for the proper data format.
- SelectOKto close the window.
The association field now accepts entries only in the data format you specified.Association that maintains a list.- If you are setting up a custom association, select theA list of acceptable values IS maintainedoption.
- To enter the list of acceptable values for this association, select theAddbutton.
- Enter an acceptable value for theassociationfield.
- Select theEnterbutton.
- Repeat steps c and d for each value you want to add.
- SelectOK.
The values you entered are now available for selection from the dropdown list in the association field during asset data entry.Oil & Gas association- In theOil & Gaswindow, select theAddbutton.
- Enter the cost center, well number, description, beginning reserves, and current-year production of this well.
- Select theEnterbutton to save the information you entered.
- Do one of the following tasks.
- To add information for another cost center and well: Repeat steps a - c.
- If you are done adding cost centers and wells: SelectDone.
The well descriptions you have added are available for selection from the dropdown list in theOil & Gasfield in the Asset Detail window for the current activity.You can now enter oil and gas well assets for this client.note- You can sort a report by association in theOptions, thenPresentationtab.
- You can customize the placement of the association fields in theAsset Detailwindow.
- You can set up a primary association for use in the Association Wizard. To set up the default association values and asset class that the application should enter based on the value that you choose for the primary association during asset data entry, select theWizard Setupbutton.
