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Depreciation worksheet (d)

The help pages accessed for this worksheet include:

Depreciation Asset Index

Each asset has its own worksheet and as assets are entered and saved, an entry is made in the Index. The index also offers entry to other dialogs that assist with the complexities of managing depreciating assets, pooled or otherwise, and projects.

The column headings in the Index are self-explanatory, but are further explained under Column Headings.

The buttons on the right behave as follows:

Button nameDetails
PropertiesProperties refers to the details of the asset worksheet selected. Highlight the required Asset in the Index and click Properties to open the Depreciation worksheet.
Batch updatePermits one or more assets to be flagged for integration to the selected schedule, worksheet or item in the return, or to be added to an established Pool.
Create ProjectClick Create Project to open a worksheet to capture all the details related to the project from which the system will calculate the allowable deduction.
Create PoolClick Create Pool to open a worksheet to capture all the details related to the Pool.
Create 5yr SWDPClick Create 5yr SWDP to open a worksheet to capture all the details related to the Software Development Pool.
Check SBE eligibilityClick Check SBE eligibility to open the SBE Eligibility worksheets, which must be completed each year to ensure that the business is still eligible to use the simplified depreciation rules.
NewClick New to create a new asset to be depreciated.
DeleteClick Delete to remove the highlighted asset from the Index.
CloseClick Close to integrate values to the schedule and worksheet items as indicated in the Integ column and close the Depreciating Assets Index.
Populate Return labelsTicking this box causes the program to add up the various components and complete the relevant labels in the relevant return. Relevant returns are Company, Partnership and Trust. If you do not choose to integrate, then labels in the main return may be completed manually.
Column Headings
Column nameDescription

The Group code may be alpha or numeric and assets NOT allocated to a Pool should always be part of a group. For example where the taxpayer has more than one rental property or operates more than one business, a group should be created for each. The reason being that the depreciation calculated on those assets integrates to the correct rental schedule or any other schedule selected for integration.

Clicking the column heading will reverse the sequence of the list.

AE and Series 6 & 8 only: To save typing frequently used asset descriptions each time an asset is created, add the description for certain commonly named assets to your Index of Standard answers and at the description field, click [F7], [F10] and choose the description, or if the description code is known, key ^ plus the code and the description will default to the field.

ItemEach Asset is given its own ID within the group and when new assets are created and the Group code is entered, this causes the next consecutive number in the range 00001 to 99999 to be applied to this asset.
IntegThis is the abbreviation for ‘Integration’. This column displays the code of the form, schedule or, worksheet to which the depreciation amount  is integrated. Integration of the Depreciation amount calculated occurs when you Close the index of assets.
PoolAssets that have been added to the pool will display the number of the pool in this column.
DescriptionThis column will display the description keyed for the type of Pool, for example, General Small Business Pool, or the asset description, for example, Carpet.
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