Thanks @TaxGuyBill  - so a couple of questions on this:

1) If the vehicle is personally owned by the owner-employee of an S corp and he/she uses a personal vehicle for business >50% of the time, assuming this vehicle is being financed with a loan made out to the owner personally (not the S-corp), There should be no Liability and no depreciation showing on on the S Corp books, correct? (I am thinking of an accountable plan to reimburse the owner)

2)In a Scenario where bonus depreciation and 179 deduction and maybe Macrs  are taken for the same asset (think of a vehicle, not owned by the S corp but owned byt the owner-employee of an S-Corp with >50% business use), do you still use the software to keep track of all of this? What is your process? I can't imagine keeping track of these in a separate excel file for example. Thank you in advance