Equipment
Maintenance - Tax/AMT Depreciation Equipment
Maintenance - Tax/AMT DepreciationUse this screen to enter tax and alternative minimum tax (AMT) details for the piece of equipment. This information is used when calculating depreciation for the equipment.
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Access this screen by pressing F10=Tax/AMT Depreciation from the Equipment Maintenance - Cost screen. Enter details for tax and AMT depreciation, and then press Enter to return to the previous screen.
Equipment Maintenance - Launch
Tax/AMT Depreciation
G/L Revenue Distribution Inquiry
Displays the unique number of the equipment you are adding or updating.
Displays the alternate unique number for the equipment (perhaps from a legacy software system). You can use this number to retrieve this piece of equipment during transaction entry.
Displays the codes for the category, class, and sub-class to which this piece of equipment belongs. Categories and classes are set up in Category/Class Maintenance.
Displays the code for the currency in which all monetary amounts are entered or displayed on this screen.
Displays the amount it would cost to replace this equipment. This information is useful if the equipment is lost or damaged.
Displays the actual cash value of the equipment by subtracting depreciation from the replacement value.
Example: You purchased a wet saw for $2,000 five years ago and
it was damaged beyond repair. The wet saw has a depreciation life
of 10 years (120 months). A similar wet saw today costs $2,500.
The destroyed wet saw had 50% (5 years) of its life remaining, so
the actual cash value equals $2,500 (replacement cost) times 50% (useful
life remaining) or $1,250.
Enter the original cost for the equipment, which may or may not be the same as the acquisition cost.
Fiscal Depreciation Coefficient
Enter or accept the coefficient used for fiscal depreciation for this equipment if it is using the degressif tax depreciation method. The coefficient defaults from the Equipment Fiscal Depreciation Coefficient table.
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Displays the cost to acquire this piece of equipment. If you are using the Purchasing application, and you entered and received a purchase order for this equipment, the cost automatically populates this field.
With applicable security, enter the acquisition cost that you use for taxation purposes.
With applicable security, enter the acquisition cost that you use for alternative minimum tax purposes.
With applicable security, enter the acquisition cost that you use for TX4 taxation purposes.
With applicable security, enter the acquisition cost that you use for TX5 taxation purposes.
Displays the book value for the equipment. The book value is the original value of the equipment used for accounting.
Displays the tax value for the equipment.
Displays the alternative minimum tax value for the equipment.
Displays the TX4 tax value for the equipment.
Displays the TX5 tax value for the equipment.
Displays the book salvage value for the equipment.
With applicable security, enter the salvage value of the equipment that you use for taxation purposes. Salvage value is the estimated value of the equipment at the end of its useful life.
With applicable security, enter the salvage value of the equipment that you use for alternative minimum taxation purposes.
With applicable security, enter the salvage value of the equipment that you use for TX4 taxation purposes
With applicable security, enter the salvage value of the equipment that you use for TX5 taxation purposes
Displays the life of the equipment in months for accounting depreciation purposes.
With applicable security, enter the life of the equipment in months for tax depreciation purposes.
With applicable security, enter the life of the equipment in months for alternative minimum tax depreciation purposes.
With applicable security, enter the life of the equipment in months for TX4 depreciation purposes.
With applicable security, enter the life of the equipment in months for TX5 depreciation purposes.
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Displays the code that represents the method of depreciation you employ for accounting purposes.
With applicable security, enter the code that represents the method of depreciation you employ for taxation purposes.
With applicable security, enter the code that represents the method of depreciation you employ for alternative minimum tax purposes.
With applicable security, enter the code that represents the method of depreciation you employ for TX4 tax purposes.
With applicable security, enter the code that represents the method of depreciation you employ for TX5 tax purposes.
Displays the date that the equipment was placed into rental status for accounting purposes.
With applicable security, enter the date that the equipment was placed into rental status for taxation purposes.
With applicable security, enter the date that the equipment was placed into rental status for alternative minimum tax purposes.
With applicable security, enter the date that the equipment was placed into rental status for TX4 tax purposes.
With applicable security, enter the date that the equipment was placed into rental status for TX5 tax purposes.
Book Depreciation (Month to Date)
Displays the month-to-date accounting depreciation (if any) for the equipment. This field is updated when you run monthly depreciation in the General Ledger application.
Book Depreciation (Year to Date)
Displays the year-to-date accounting depreciation (if any) for the equipment. This field is updated when you run monthly depreciation in the General Ledger application.
Book Depreciation (Life to Date)
Displays the life-to-date accounting depreciation (if any) for the lot. This field is updated when you run monthly depreciation in the General Ledger application.
Tax Depreciation (Month to Date)
Displays the month-to-date taxation depreciation (if any) for the lot. This field is updated when you run monthly depreciation in the General Ledger application.
Tax Depreciation (Year to Date)
Displays the year-to-date taxation depreciation (if any) for the lot. This field is updated when you run monthly depreciation in the General Ledger application.
Tax Depreciation (Life to Date)
Displays the life-to-date taxation depreciation (if any) for the lot. This field is updated when you run monthly depreciation in the General Ledger application.
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AMT Depreciation (Month to Date)
Displays the month-to-date alternative minimum tax depreciation (if any) for the lot. This field is updated when you run monthly depreciation in the General Ledger application.
AMT Depreciation (Year to Date)
Displays the year-to-date alternative minimum tax depreciation (if any) for the lot. This field is updated when you run monthly depreciation in the General Ledger application.
AMT Depreciation (Life to Date)
Displays the life-to-date alternative minimum tax depreciation (if any) for the lot. This field is updated when you run monthly depreciation in the General Ledger application.
TX4 Depreciation (Month to Date)
Displays the month-to-date TX4 depreciation (if any) for the lot. This field is updated when you run monthly depreciation in the General Ledger application.
TX4 Depreciation (Year to Date)
Displays the year-to-date TX4 depreciation (if any) for the lot. This field is updated when you run monthly depreciation in the General Ledger application.
TX4 Depreciation (Life to Date)
Displays the life-to-date TX4 depreciation (if any) for the lot. This field is updated when you run monthly depreciation in the General Ledger application.
TX5 Depreciation (Month to Date)
Displays the month-to-date TX5 depreciation (if any) for the lot. This field is updated when you run monthly depreciation in the General Ledger application.
TX5 Depreciation (Year to Date)
Displays the year-to-date TX5 depreciation (if any) for the lot. This field is updated when you run monthly depreciation in the General Ledger application.
TX5 Depreciation (Life to Date)
Displays the life-to-date TX5 depreciation (if any) for the lot. This field is updated when you run monthly depreciation in the General Ledger application.
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Function Key |
Description |
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F1 |
Help. Place your cursor in a field and press F1 to access online help for that field. Place your cursor outside of any field, and press F1 to access online help at the program level. |
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F3 |
Exit. Exit the page or program. |
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F4 |
Search. Place your cursor in a searchable field and press F4 to access a lookup window or more advanced search screen. |
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F12 |
Cancel/Previous. Exit the program or move back a screen. |
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F14 (Shift + F2) |
Cost History. Advance to the Equipment Cost History Inquiry screen. |
Reset Depreciation at Year End
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