| | Using booksYou use books to record
depreciation and other transactional data for your company's assets. When you
enter an asset into 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. These types of books are used in the United States: Financial Used to record data that
is not subject to tax reporting regulations, such as General Ledger data. Federal Tax Used 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 Used to record data that
is subject to tax reporting regulations other than federal, such as state tax
or insurance replacement.
These types of books are used in countries other than the
United States: Commercial Used to record data that
is not subject to tax reporting regulations, such as General Ledger data. Calculatory Used for methods of
depreciation specific to European requirements, for example, the Annuity method. Special Used for specific
depreciation methods (either custom depreciation or excess depreciation) to be
posted. The Special parameter supplements Commercial or Statutory depreciation. Statutory Allows you to report
depreciation for tax reporting purposes for Calculatory, Commercial, and Special book types.
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