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- Re: Import assets to FAM from ProSeries Pro
Import assets to FAM from ProSeries Pro
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mh85251
Level 2
01-19-2022
09:18 PM
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Trying to use FAM for the first time. Decided to test it out with a client that has the most fixed assets. 94 assets were imported, 109 assets were not imported, and were listed on the exception report with the following message, "Fixed Asset Manager does not support calculating MACRS assets using a table." I tried to figure out which assets were causing the problem, then I realized that it only imported assets beginning after 12/31/12. None of the assets before that date were imported. Does anyone have a fix for this so that it will import the assets prior to 2013?
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2 Comments 2
rbynaker
Level 13
01-20-2022
07:33 AM
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Just working from memory . . . ProSeries lets you choose either MACRS or MACRS Tables (I think it's "M" or "MT"). First thing I'd check is to see if your older assets are set to use MT. Did you switch to PS from another software in 2013? I'm wondering if the old assets imported as MT.
Rick
dascpa
Level 11
01-20-2022
10:02 AM
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There are multiple reasons for import issues. The MACRS issues is one of them. The typical problem is the link to the right tax form. For example you want it to link to Page 1 ordinary business, or a rental property. And if a rental property does it match to the correct property on the tax return. Look at your links in FAM.
