Can depreciable assets be classified by asset location in pro series?

[jimjoecpa]

My client operates multiple fitness gyms and I would like to track the depreciable assets by location with my pro series desk top tax software.

[Ernie · Accepted solution]

The way I would do this in the program would be to put a letter or a number at the beginning of the description.  So a 1 for the gym on 4th street and a 2 for the gym on Mars ave, etc.

Dusty

[TaxGuyBill]

I haven't looked for a while, but aren't they sorted by the "placed in service" date?

[IRonMaN]

I don't believe that can be done.

[Marc-TaxMan]

I think you can do this if you run 2 clients: 1 for depreciation accounting; 1 for actual filing.

Individual filing Sched C?  Maybe you set up each location as a different C just for depreciation with 1 C used for income and expenses; then Save As ClientFile, delete the various Cs and put all depreciation where you want it.  Then print and paper file.  

[IRonMaN]

But then you would also have to change the links of all of the assets when you started the deletion process.  An adding machine tape is probably less work than to go through all of that.

[Matt105]

You could also use our Fixed Asset Manager software.  That is much more versatile when it comes to categorizing and reporting on assets.  It is likely not a cost effective solution for just one client, but if this is something you will need to do for multiple clients it could be worth looking in to.  Also you would be able to import all of your assets from ProSeries into FAM.