Fixed Asset Manager (FAM) is a program that is only available in QuickBooks Premier Accountant, QuickBooks Enterprise Solutions and QuickBooks Enterprise Solutions Accountant. This article covers the How do I's for this program but if you need the basic workflow of this application, you can check Fixed Asset Manager (FAM) 101.
This article covers the following How Do I's.
Intuit articles have limited information about depreciation methods. For detailed discussion, visit the IRS publication 946.
When you convert asset data from one version of QuickBooks Desktop to another or import assets into Fixed Asset Manager (FAM), you may find that the General Ledger accounts (G/L accounts) did not come along with the assets.
You can use the steps described in this section to assign multiple assets into a single account.
You may need to change or add the Depreciation Method for a fixed asset in order for Fixed Asset Manger to calculate the current and/or prior depreciation correctly. To do this:
See Fixed Asset Manager 101 for an overview of this program.
Your business might already have some fixed assets even before you use Fixed Asset Manager. Follow the steps described bellow to recford your fixed assets with correct depreciation.
In Fixed Asset Manager
You can transfer information to Fixed Asset Manager from third party applications as long as that program can export data to excel as a comma separated value (CSV) file.
In Fixed Asset Manager, it is possible to change the basis (Federal, Book, AMT, ACE, State, Other) you are posting journal entries on.