Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Fixed Asset Entry

Gildayt
Level 1

I am new to ProSeries and not sure whether I should enter new assets in ProSeries tax software or should I enter new assets in the fixed asset manager?

Labels (1)
0 Cheers
2 Replies 2
IRonMaN
Level 15

If you have a few assets, I believe the general thought is to enter them into ProSeries.  If you have a bunch of assets or you just want more flexibility in handling the assets, go with the Fixed Asset Manager.

ACME Taxes, Tatoos, Tires and Tomatoes (I had to get rid of the turtles - they kept running away)
TaxGuyBill
Level 15

Have you purchased the Fixed Asset Manager?   I think that is a separate thing to purchase.

From what I can tell, if you just need to keep track of assets for income tax purposes, ProSeries is what most people use.

If you need to keep track of asset for other purposes (weird state income taxes, state taxes on value of personal property, accounting/non-tax depreciation that differs from tax depreciation, etc.), then the Fixed Asset Manager will give you more options.