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Level 2

Fixed Asset Manager

I'm trying to set up Fixed Asset Manager, and would like to know why it is asking for permission to access personal data and to change company data.  Thank you!

3 Comments
Moderator

Fixed Asset Manager

Hello there, srich754.

 

Welcome to the Community. It would be my pleasure to help provide clarification about using Fixed Asset Manager (FAM) in QuickBooks Desktop.

 

When using the FAM feature in QuickBooks Desktop, it help computes depreciation of fixed assets based on the standards published by the IRS. Upon setting it up, it'll sync the application to your QuickBooks which contains personal data related to your business.

 

For FAM to work in its full capability, it'll ask for permission to access the data needed for the program. Since QuickBooks Desktop and this app have a different data file, you can follow the detailed steps on how to set up the feature correctly in the article below:

 

Set up Fixed Asset Manager (FAM).

 

Please reach out to me here should you need any further assistance concerning the FAM setup. I'm always available to talk QuickBooks.

Level 1

Fixed Asset Manager

I started using FAM last year.  I post an entry monthly for depreciation expense to QB.  When I posted the entry for January, I noticed that not  all of the assets had depreciation taken on them.  only some of them did.  Such as a building with a cost of $3,600,00.  Accum depr at end if 12/31/18 was $3,172,000, but no depreciation calculated for January.  I also ran report to calculate depreciation for the year but none is showing for it.  If I look at projections, there is depreciation projected for the year.  Is there something I need to do to get depreciation to calculate for these assets for 2019?  I did run prepare for next year under tools.  I ran a report for the month of January for book and some assets were depreciated and some weren't, then a ran a report for federal.  but the assets that had depreciation in January for book didn't have any depreciation for federal and assets that didn't have depreciation for book had depreciation for federal.  There were assets that didn't have depreciation on either that should have depreciation

Moderator

Fixed Asset Manager

Hey there, jirvine915.

I'm here to help you calculate your depreciation for the year in QuickBooks Desktop.

 

FAM calculations and reports are based on a defined period. The program uses these dates to automatically compute prior year depreciation when an asset is entered into FAM. To better isolate this issue, you may want to check the dates when you set up FAM and make sure it hasn't ended yet.

 

You can get more information in this article: https://quickbooks.intuit.com/community/Reports-and-accounting/Set-up-Fixed-Asset-Manager-FAM/m-p/20....

 

As always, you can contact our customer care agents if you need further assistance. To reach us, please follow these steps:

 

  1. Go to: https://help.quickbooks.intuit.com/en_US/contact.
  2. Choose your QuickBooks Product.
  3. Select your QuickBooks version.
  4. On the Contact Us page, click a topic.
  5. Click on the Get Phone Number button to see the support number.

I'm always here to help you out if you have more questions about depreciation in FAM. Have a good one.

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