| # Asset Book Inquiry (tffam1111s000) Use this session to view asset book information for each asset. For more information about an asset and the corresponding asset book, select an asset and choose Asset Book Inquiry from the Specific menu in the Assets (tffam1500m000) session. Related topics Assets and Related Books Deemed Supplies-Gifts: Taxable persons and values Adding Books to Assets Asset Number The asset number and asset extension create a unique identifier for the asset in the selected company. Asset Number The description or name of the code. Asset Extension The asset number and asset extension create a unique identifier for the asset in the selected company. Asset Book An instance of an asset. Books are attached to assets, and are designed to capture values for an asset. Each asset may have many books attached to it for reporting or calculation requirements. Books defined with particular types ( Calculatory, Financial, etc.) are dedicated to specific calculations. Book Code The description or name of the code. Prop. Type A classification of fixed assets for United States legal tax depreciation requirements. Property Type Code The description or name of the code. Depreciation Code The depreciation system according to which depreciation, value reduction, revaluation, and so on are calculated. Frequency The description or name of the code. Depreciation Frequency Depreciation frequency for the asset book relationship. Depreciation Code The description or name of the code. Last Depr. Date Last date on which depreciation was run for the asset book. Shift Factor The rate that accounts for an asset's use beyond a regularly scheduled work period. The value of the shift factor cannot be less than one. MACRS Depr. By The method which you use to calculate MACRS depreciation. Depr. Below Salvage Indicates whether an asset accounts for salvage value in computing depreciation expense. Allow Depr. Posting If this check box is selected, you allow depreciation posting to take place. Separate Revaluation Accounting If this check box is selected, the revaluation costs and revaluation depreciation amounts of the asset are calculated separately, they are not added to the normal costs and depreciation amounts. The separate ledger transactions are posted to the General Ledger module. Text Indicates whether supplemental text exists for the asset book. Current Cost The current cost of the asset in the book. Current Cost A deduction available to certain types of property as specified by the Internal Revenue Service. This allows taxpayers other than estates, trusts, and certain non-corporate lessors to claim a current deduction for a specified amount of the cost of qualified property placed in service during the tax year. Original Cost The original cost of the asset in the book. Depreciation Amount The last depreciation amount recorded. YTD Depreciation Year-to-date depreciation for the asset in the book. Accum.Deprec. The total depreciation recognized and recorded for an asset since its acquisition. Accumulated depreciation is subtracted from the original cost of the asset to provide the net book value. Net Book Value The asset's current cost minus accumulated depreciation. Accl. Depreciation If this check box is selected, you performed accelerated depreciation on the asset. Related topics Accelerated depreciation Salvage Value The value for a fixed asset no longer needed in business operations. Sec. 179 Value A deduction available to certain types of property as specified by the Internal Revenue Service. This allows taxpayers other than estates, trusts, and certain non-corporate lessors to claim a current deduction for a specified amount of the cost of qualified property placed in service during the tax year. Capitalized Interest Use to record amounts relating to interest recorded on self-constructed projects. Current ITC Amount An incentive provided by U.S. tax law designed to stimulate investment in the economy by allowing a percentage tax credit for the purchase of eligible property. Allocated Cost Represents indirect costs incurred in the purchase of an asset. Asset Life (YY/MM) Displays the asset life in years. Asset Life (YY/MM) Displays the asset life in months, additional to years. Asset Life (Units) Displays the asset life in units. Remain. Life (YY/MM) Displays the asset life remaining in years. Remain. Life (YY/MM) Displays the asset life remaining in months, additional to years. Remain. Life (Units) Displays the asset life remaining in units. Count of Suspended Periods The number of periods for which the asset was not depreciated because you suspended the depreciation in the Mass Suspend Depreciation (tffam1207m000) session. Note This field is is not affected by suspended depreciation that you perform using the Suspended Periods (tffam7120m000) session. Related topics Suspending depreciation Recapt. Life (YY/MM) Displays the recaption life in years. Recapt. Life (YY/MM) Displays the recaption life in months, additional to years. Remain. Depr. Life (YY/MM) The total remaining depreciation life, expressed as the sum of the remaining asset life and the number of periods in the Count of Suspended Periods field. Revaluation Index Represents the index with the set of percentages that revalue the asset book. The index contains a set of percentages for all years of revaluation. Last Reval. Year The previous year for which revaluation has been run for the asset book. Additional Periodic Posting If this check box is selected, additional periodic posting is enabled for the asset. Posting Amount Displays the additional posting amount. Depreciation Code Displays the depreciation code. Depreciation Code You can define the number of periods transfer transactions are retained. Economic Recapture If this check box is selected, economic recapture is enabled. Accounts Displays the accounts related to the distribution line selected. |