David Posted October 20, 2008 Report Share Posted October 20, 2008 The bookkeeper for a dentist's office sent me their QB file. She listed 75 assets in the asset list. What have those of you done who use ATX software when you have such a huge asset list? Is there a shortcut we can use instead of inputting all 75 items into the asset manager? Thanks, David Quote Link to comment Share on other sites More sharing options...
Lynn EA USTCP in Louisiana Posted October 20, 2008 Report Share Posted October 20, 2008 The bookkeeper for a dentist's office sent me their QB file. She listed 75 assets in the asset list. What have those of you done who use ATX software when you have such a huge asset list? Is there a shortcut we can use instead of inputting all 75 items into the asset manager? Thanks, David My client with the largest asset list had HUNDREDS of assets. Every year before I started working on the income section of the return I reviewed their assets, to see which were disposed of and if any new ones were purchased. I don't know about any shortcuts as I always listed each and every asset. Maybe some others with more ATX experience than I will be more helpful with this. Lynn Jacobs, EA Kenner, La Quote Link to comment Share on other sites More sharing options...
RitaB Posted October 20, 2008 Report Share Posted October 20, 2008 The bookkeeper for a dentist's office sent me their QB file. She listed 75 assets in the asset list. What have those of you done who use ATX software when you have such a huge asset list? Is there a shortcut we can use instead of inputting all 75 items into the asset manager? Thanks, David I'm with Lynn. List them all, and charge lots. Be sure and print that Form 4562 Statement AND the Tax Classification Report when you do the return to show how you have slaved over this, in case the dentist is as cheap as my vet guy. HaHa! Seriously, if you lump assets into groups, you may wish you hadn't. If the dentist disposes of some assets, it might be easier on you if they are all entered separately. Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted October 20, 2008 Report Share Posted October 20, 2008 And only the first time is hard, after that it is usually just a few new items. I would check, first, tho, to be sure they still have all 75 still in service. Quote Link to comment Share on other sites More sharing options...
Gail in Virginia Posted October 21, 2008 Report Share Posted October 21, 2008 I would agree with everyone else and just list the assets - it is a one time pain for which you make them pay. However, if you really don't want to, i believe you could export the asset list from quickbooks to excel and do the depreciation in excel and only put totals on the 4562 in ATX. I am not recommending this, merely offering it as an alternative. Quote Link to comment Share on other sites More sharing options...
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