Step 22 - Define Your Book Controls

Use the Book Controls window to set up your depreciation books. You can set up an unlimited number of independent depreciation books. Each book has its own set of accounting rules and accounts so you can organize and implement your fixed assets accounting policies.

When you define a tax book, you must specify an associated corporate book. You can mass copy assets and transactions from the source book into your tax book. You specify the current open period, and Initial Mass Copy copies each asset into the tax book from the corporate book as of the end of that fiscal year in the corporate book. See: Defining Depreciation Books.