Fixed Assets - Tax

  We recently consolidated our 11.0.3 and 11.5.10 instances into a single 11.5.10 instance. This called for a conversion of our fixed assets to 11.5.10. Only active assets were converted.

Our fiscal year runs from October through September.

The conversion took place in 2 phases – the first in period 1, fiscal 2010, which is October 2009 and the second in period 4, fiscal 2010, which is January 2010.

 

Although depreciation was run in the 11.0.3 corporate book through December 2009 – fiscal period 3, 2010 – no tax book depreciation was run in fiscal 2010 in the 11.0.3 book. This means that all tax depreciation would be in the 11.5.10 book only beginning in fiscal 2010.

 

Depreciation for both the corporate and federal tax book was run through the end of fiscal 2009. In October 2009 – fiscal period 1, 2010 – the first set of assets were placed into mass additions and posted to the corporate book. The corporate book was depreciated for period 1, 2010. The periodic mass copy was run to add the assets to the federal tax book, the tax depreciation applied to these phase 1 assets, and depreciation run in the federal tax book for fiscal period 1, 2010.