| # Using Default Books When you specify default books, you indicate which books are required and which book is the default posting book or default ADR book. When you create an asset, an asset book relationship is created for all the default books. Required books are associated with all assets for a company and cannot be removed from assets with which they have been associated. The default-posting book sends journal entries to the posting book for all assets for the company. Only one book can be the default posting book. This book must be of the Financial or Commercial book type. The default ADR book updates the vintage account for the assets cost, accumulated depreciation, and salvage value. These values are updated during capitalization, disposal, adjustment, and appreciation. Only one book can be the default ADR book. This book must be a Federal Tax book. Note You must set up books in the Books (tffam6500m000) session before you can specify default books. To specify default books, select Default Books from the appropriate menu in the FAM Parameter (tffam0100s000) session. Related topics Deemed Supplies-Gifts: Taxable persons and values |