| Using Books |  |
| You use books to record depreciation and other transactional data for your company's assets. When you enter an asset into ERP LN, you assign one or more books to the asset. You must set up books before you can set up the FAM Parameter (tffam0100s000) session for your company. For each book you create, you specify whether assets associated with the book will depreciate or not. An asset can depreciate differently in different books, or not depreciate at all in a book. You also specify the type of book. There are several types of books you can specify. The first three types are used in the United States: Financial, which you use to record data that is not subject to tax reporting regulations, such as General Ledger data. Federal Tax, which you use to record data that is subject to federal tax reporting regulations, such as adjusted current earnings or alternative minimum tax. For each federal tax book, you can also specify whether the book records data for alternative minimum tax (AMT) reporting or adjusted current earnings (ACE) tax reporting. Other Tax, which you use to record data that is subject to tax reporting regulations other than federal, such as state tax or insurance replacement. The next four types are used in countries other than the United States: Commercial, which you use to record data that is not subject to tax reporting regulations, such as General Ledger data. Calculatory, which you use for methods of depreciation specific to European requirements (for example, the Annuity method). Special, which you use for specific depreciation methods (either custom depreciation or excess depreciation) to be posted. The Special parameter supplements Commercial or Statutory depreciation. Statutory, which permits you to report depreciation for tax reporting purposes for Calculatory, Commercial, and Special book types. Related topics Using Default Books |