2021 Fixed Asset Manager

[Hub]

Anyone have any information on when the 2021 Fixed Asset Manager will be released?

[dascpa]

Year-after-year it is released somewhere around Dec 9-15.  This year it's not even listed in the Release Dates of Productivity Software, only the client Organizer.  I hate that we have to wait as I, like the rest of us want to enter current year additions and disposals.  No reason not to release it months earlier and if needed, do an update like the regular tax program does.

[IRonMaN]

There is a good reason why it isn't related sooner.  Well, maybe not a good reason, but I'm sure Intuit will come up with an excuse if they have to.

[Hub]

Do you know if you roll the 2020 numbers in the 2020 program to 2021 and input some 2021 acquisitions will they come into the 2021 program when it is eventually released. I need 2021 numbers ASAP for planning purposes and so far that is the only way I can see to get some current numbers.

[dascpa]

(1) You cannot enter 2021 dates into the 2020 program. (2) You could (a) make a backup copy and (b) then with the duplicate copy enter your 2021 assets with 2020 dates and let it calculate.  Will force you to re-enter data when the new year program comes out.  OR you could do it the old fashioned way of an Excel (or Lotus123, VisiCalc or other older) spreadsheet.

[IRonMaN]

Or buy a different software that doesn't handcuff you like FAM does.

[Hub]

Actually, if you close the 2020 year to 2021 it will let you input 2021 dates. My hope is that will rollover, but I guess we will see. I am looking at 2021 depreciation with new 2021 acquisitions. I moved to ProSeries in 2020 from Ultra Tax and I do agree that the Ultra Tax program was much better on FAM.

[patrickfields]

You can absolutely enter CY dates in the PY program. We've done this for 20 years for our planning and accounting clients.

Our folders are FAM20/2020 Clients for all of our 2020 tax year files. When we finish the returns and start on 2021 we simply make a folder called 2021 Clients. We copy the "final 2020" client file over to that 2021 clients folder, roll the year, and use it as the 2021 file.

When the 2021 program comes out we just roll those first, then roll the 2020 folder ones. When we roll we just make sure to only roll the ones from the 2020 folder that have NOT been copied over to the 2021 folder.

Has worked fine for us.