1. _____ Complete all period processing,
including the calculation of the current period depreciation and
posting it to the general ledger.
2. _____ Retire any assets removed from service.
3. _____ Print the Depreciation Comparison Report, which prints a
comparison of any two depreciation columns you select.
4. _____ Print the Gains and Losses Report, which prints a report
on the gains and losses associated with any assets you may have
retired during the year. This report will help you fill out IRS form
4797, "Supplemental Schedule of Gains and Losses".
5. _____ Print the Depreciation Summary Report for a detailed
summary of the year's depreciation for all books.
6. _____ Print the Credit Summary Report. This report includes:
base costs, 179 expense, 179 adjusted base cost, applied credits and
percentages of adjusted base cost. Use the information on this
report to assist you in preparing IRS form 3468, "Computation
of Investment Credit"..
7. _____ Print the Credit Recapture Report for a listing of
information relating to the recapture of tax credits. Use the
information on this report to assist you in preparing IRS form 4255.
8. _____ Print the Property Assessment Schedule. This report
lists assets by tax district.
9. _____ Print the Additions Journal. This report provides an
audit trailof additions to the Fixed Asset Master file.
10. _____ Print the Retirements Journal. This report lists the
assets that have been retired sine the beginning of the fiscal year.
11. _____ Backup the data files.
12. _____ Print the Depreciation Tax Report. This report prints
detailed information that is helpful when preparing IRS form 4562.
13. _____ Perform Year-End Maintenance.
