1.Companies can Create as many Tax Books as are needed:
–1) Associate the new Tax Book to a corporate book.
–Choose a depreciation calendar.
Corporate and Tax Books can have different calendars.
2.2) Set up asset categories for the new Tax Book:
–Define default depreciation rules for each category.
•Categories in corporate and Tax Books have 1:1 mapping.
3.3) Initially add assets to new Tax Book using Initial Mass Copy.
4.4) Perform asset additions and maintenance in the corporate book.
5) Periodically update Tax Book with new assets and transactions from the corporate book.
6.6) Run depreciation for the Tax Book.