Copying a CORP book to an AMT book (Conversion) - Basic (or maybe not so basic) Questions
Hi All,
We created an AMT Book for assets with a current fiscal year of 2007. I've run Initial Mass Copy to the AMT Book and know that it's copied all assets that were placed in service by the end of 2007.
My follow-up question is what steps are next? The AMT book has an annual depreciation calendar so I assume when I run depreciation it will run it for 2007. I verify the data and see if it matches our legacy system, but if I need to make changes to the accumulated depreciation, how is that done? Once 2007 looks good, I assume I first rollback depreciation and then roll it again while closing 2007. After that, how do I get 2008, 2009 and 2010 data over respectively?
We created an AMT Book for assets with a current fiscal year of 2007. I've run Initial Mass Copy to the AMT Book and know that it's copied all assets that were placed in service by the end of 2007.
My follow-up question is what steps are next? The AMT book has an annual depreciation calendar so I assume when I run depreciation it will run it for 2007. I verify the data and see if it matches our legacy system, but if I need to make changes to the accumulated depreciation, how is that done? Once 2007 looks good, I assume I first rollback depreciation and then roll it again while closing 2007. After that, how do I get 2008, 2009 and 2010 data over respectively?
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