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Asset Management - 2017 Tax Changes that affect AM

Annette Bailey

Has anyone come up with any creative solutions to be able to update the bonus depreciation on assets added after 9/27/17 that already had the 50% bonus calculation. The delivered AMSEC101 (Bonus Recalculation) process only can be used for assets that have taken no bonus depreciation. Oracle has created a bug but has not come up with any timeline and they only created the bug after I prompted them. So just wondering if anyone has created a solution on your own as likely Oracle will not have something ready in time to file in April.

2 Posts
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James Quijas

Hi Annette,

I used the AM_BOOK_DEFN component interface to update my assets. I ran a query to get my list of assets in excel that qualified for 100% and updated bonus switch, bonus percent, DB percent (as needed), and clicked life to date (as needed) all from the excel spreadsheet. I apply my monthly bonus this way as well. Super simple and super quick. I generally update around 100 assets per month using the CI in under a minute. Please feel free to give me a call at 208 384-6122 or email at [email protected] if you'd like further information.

Thanks,

James