Frequency Asked Questions
I get an error running Form 4562 Report, Using Adobe Reader X.
Protection Mode in Adobe is causng the problem. You can disable Protected Mode via the Adobe user interface. Go to Edit > Preferences > General, and in the Application Startup panel, check or uncheck Enable Protected Mode at startup
How do I adjust accumulated depreciation?
You really don’t want to do this. If you need to make adjustments when converting from your old depreciation system to ours, the best way to do this is to correct your general ledger by making an adjusting journal entry.
My key code won’t work with the latest version?
Each version has its` own key code. You need to use the version that was current when you made the purchase or buy the update for that version.
It seems to be ignoring my fiscal year. I entered a year-end of June.
If your fiscal year ends in June then an asset placed in service in 4/06 would be included in 2006. An asset entered for 8/06 would be in fiscal year 2007. Fiscal year 2006 would be from 7/05 to 6/06.
I need to know how to add another depreciation method to the Asset Classes, under the Defaults menu. I need to add Straight Line Depreciation.
The asset classes are the federal tax classes. There is no federal method called straight line. What you want to use is ADS, Amortization, or Macrs for buildings, which all really use straight-line depreciation.
We recently purchased Depreciation 4562 Pro. Under the ‘Book” menu, under “Property Tax Data” there is a column named “Category,” I do not see a way to fill this field.
The Category information comes from the class combo box on the asset maintenance form.
Can this software Depreciation Pro run on 2003 Terminal Server?
It should run fine on a Terminal Server, but it has not been tested in that environment.
I entered a asset,a building purchased for $292,487, depreciated straight-line for 31.5 year, purchased in February 1990. When I computed the accumulated depreciation on this asset by hand, I come up with an annual depreciation of $9285.30. Your program wants to depreciate it at $9140 per year.
For a building purchased in 1990 the proper tax depreciation method is MACRS. Select 31.5 from the Life combo, and enter a cost of 292,487. Straight-line depreciation with a mid month convention will be used to calculate a yearly rate of 9285. If you select the 'Depreciation Schedule' button on the bottom left, of the Asset Maintenance form you can see the complete depreciation schedule for this asset.
Can you send me more information on your company? How long have you been in business, phone # and address, etc.?
Microtechware has been in business for over seventeen years. It is an Internet only company that supplies support by email. Our low overhead is what enables us to have some of the lowest prices for depreciation software.
I have vehicles that Bonus Depreciation was taken on and I don't understand how to account for this?
When inputting the asset on the asset maintenance form you have the option of selecting the 30%, 50% or 100% allowance which will adjust the assets depreciation schedule for bonus depreciation.
When I choose Asset Maintenance, and retrieve a particular asset, I click onto the Depreciation Schedule tab to view the calculations. The Depreciation and Accumulated Depreciation amounts do NOT match our Accumulated Depreciation amounts.
If you input the asset with the same cost, method, and in-service date it should match your current schedule. You may see small differences due to rounding. Also the Depreciation Schedule tab show a tax schedule, so make sure you are comparing tax depreciation and not book depreciation.
The sample calculator doesn't appear to allow for mid-month calculations for nonresidential real property. Please advise if there are some limitations.
The on line calculator is limited, but none of our applications have any limitations.
How much is the annual support cost
There is no additional cost for support.
Can I import Data from excel, db etc. I would like to convert from sage to yours
Depreciation 4562 Pro can import assets from Excel.
Please let me know the setup issues including training for MicroTechWare software.
All the products are easy to install with no special requirements. They come with Help files, an intuitive interface, and unlimited email support.
Has your program been updated for the 2008 Economic Stimulus Package?
Yes, all Bonus depreciation is supported
When I enter my user name and key code, it says invalid registration.
There are a couple of reasons you may be having problems. 1) The Key code is case sensitive. The best way to enter it is to copy the code from your email and paste in the registration form. 2) Make sure you have the latest version. Go to www.Microtechware.com for newest downloads. Make sure you uninstall your old version before installing a new one. The Help file has instructions.
Is this a single user license? Do you have a price for multi-users?
Depr 4562 is designed as a single user application. Depr 4562 Pro would be a better fit. It can be used on a network. The license is per company, not per user, so you only need to purchase it once.
I was wondering how often you update your products to reflect current tax law - is it a yearly update or as the law changes you release the update?
We usually update the products each fall, right after the IRS releases their new instructions & forms. If there were a major change in the tax laws we would update as soon as the details were available. Our products have been available since 1995 and always kept current.
What is the cost of the annual update?
$15, 20 or 25. Most of the updates only affect the IRS Form 4562. If you are not interested in this feature, then most years you won't need the update.
Please send me information about your product
All product detail is listed on our website www.Microtechware.com. Screen shots, Frequency Asked Question and the whole Help file are available on-line for your review.
I purchased your software, how do I receive it?
You need to download the application from www.microtechware.com. Go to the download page and click on the application link. When prompted to save or run click run and follow the setup instructions.
I tried creating a class of assets with 31.5 years of life, but when that class is selected it depreciates it over 5 years, even thou I have 31.5 filled in under life on the asset class field.
You are have a problem setting up the asset classes, because the combination of method and life are not a valid federal tax depreciation method. Try referring to the help file. There is a lot of detail information on tax methods in the help file.
I do not see a field for assets already partially or fully depreciated. Does the system accomodate this?
For a fully or partially depreciated asset it is entered the same way as a new asset. Make sure it has the correct in-service date. Our product stores the depreciation data for the full life of the asset. This way a report for a past, present, or future period can be produced because all the reports are date sensitive.
When I input a disposed asset, with a disposition amount, the amount doesn’t show up in the gain loss field, can you help?
As long as you input the date & the disposition amount the gain or loss will be calculated and be visible the next time the asset is retrieved.
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