@john-pero wrote:
My previous CPA and my current CPA both use a separate program for depreciation and enter one annual number from the 4562, I don't lift a finger. I also do not adjust fixed asset value by deducting depreciation from each asset inside of QuickBooks. Our accumulated depreciation account includes it all. But since the CPA has current values for each asset there is no problem when disposing of those assets.
Excel with manual calculations also works.
A lot of people do it that way, I have a problem with it though, so as food for thought.
if there is a catastrophic event and the cpa's records/computer/data is lost, how long will it take to get the offsite back up (assuming there is one), or if the cpa dies and the estate goes into probate. Or you part ways, and want your detailed data - we have seen folks, on the other better site, asking what to do when requests for the release of the their data are ignored.
