Vintage/Group Accounts (tffam7570m000)
Use this session to view and maintain:
- MACRS Group Accounts for MACRS assets placed into service after 1994
- Vintage Accounts for ADR assets placed into service prior to 1980 ( vintage or group account) used for U.S. tax.
Click New in the Vintage/Group Account (tffam7170s000) subsession to add new vintage/group accounts.
Use the Specific menu in the Adjust Vintage/Group Account (tffam7271m000) subsession to make changes in ADR and MACRS group books.
Else the Specific menu in the Depreciate Vintage/Group Account (tffam7272m000) subsession to depreciate ADR and MACRS group books.
Else via the Specific menu in the Restate Vintage/Group Account (tffam7273m000) subsession to recalculate depreciate ADR and MACRS group books.
Field Information
- Vintage/Group Account
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A unique identifier for the vintage or group account.
- Depreciation Code
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The depreciation code is a unique identifer that is used to depreciate assets. Each code has a method and optionally, a life, depending on the method used. Life is recorded on the asset book. You can define as many depreciation codes as needed.
- Year
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Year of service for the vintage or group account and its assets.
- Life (in months)
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Life for the vintage or group account and all assets it contains. The system prevents you from adding an asset to the vintage or group account if it does not have the life specified for the account.
- Property Class
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Indicates whether the vintage or group account can contain assets with real or personal property type classes. The asset property type must match the type specified for the account.