Supports the Job Creation and Worker Assistance Act of 2002.
Supports recent changes to IRS like kind exchange rules.
2003 luxury auto limits and separate truck and van limits.
250,000 assets per company on single user versions and up.
Maximum asset value for an individual asset is 9,999,999,999.
Renumber Account Groups option.
Increased number of User-Definable fields to 10.
New Truck and Van "Luxury Auto" Limits Implemented.
Increased Expensing for Small Business.
Renumber Account Groups option
.
Asset selection in depreciation reports and in the Find Asset command allow wild card characters * and ? on screen for the Description and User- Definable fields.
Custom depreciation methods allow a decimal point in the percent of basis to be taken as depreciation.
IRC 179 expense reduced to $25,000 for some SUV’s
A company can contain up to 25 schedules.
Location and Category number fields have 10 characters.
Supports Journal entries for Cougar Mountain Accounting and Cougar Mountain Fund
Account numbers defined in account groups (and created in journal entries) can be up to 100 characters long. Note that account group numbers are still limited to 24 characters.
Custom depreciation methods
A new export feature has been created that allows you to choose the asset data fields to export and to select the assets to export. A tab-delimited text file is created, which is very easy to open in spreadsheets, such as Microsoft Excel. Column headings can optionally be included at the beginning of the file.
Can Ooverride the depreciation calculation of an asset for
the current year.
Depreciation schedules (by month, quarter or year)
| Book |
ACE |
| Federal tax |
State tax |
| AMT |
Other |
Tax forms and worksheets:
| Form 3468 |
Form 4255 |
| Form 4562 |
Form 4797 |
| Tax preference |
Personal property tax |
Additional reports:
| Projections |
Historical depreciation |
| Asset additions |
Sales |
| Abandonments |
Trades |
| Transfers |
Asset dispositions including gain/loss (full and partial) |
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| Asset detail report (complete asset information including depreciation for each schedule [book, tax, etc.] for entire life of asset) |
Version 4.1 new features
- Brand New user interface with customizable controls.
Check out screen shots for mor details.
- Asset numbers can now be up to 10 characters long and can contain both digits and letters. Sub-assets can be three digits. The asset number format is set on the Edit Company screen and cannot be changed once it is set. If you need to access your data using prior versions of THE SYSTEM, you must select 6-digit asset numbers (no alphabetic letters) with 2-digit sub-assets.
- Paused Depresiation Feature.
This feature allows you to pause the depresiatio of an asset that has been taken out of service.
- User Permissions.
You can now setup users with that can erither have full, read/write, read only or no permissions.
- Report Builder is now installed on all versions of CMI Fixed Assets except for the Lite version.
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