BNA Fixed Assets Web Software Updates
Current Version
The current version of BNA Fixed Assets Web is 2011.2 which was released on January 29, 2012. See details below.
Version 2011.2 Summary of Changes
Updated Section 179 Amounts
Affect both the maximum dollar limit and the investment threshold phase out amounts for property placed in service in tax years beginning in 2012.
2011 Fileable IRS Forms
4562, 4626, 4797, and 8824 are now available for the 2011 calendar year and for fiscal years starting in 2011.
Version 2011.1 Summary of Changes
General Ledger and Journal Entry Changes:
Enhanced Universal General Ledger Export Support
• The ability to generate a .csv file with more than two General Ledger accounts
Enterprise General Ledger Codes Support
• The ability to define the Segments that make up General Ledger Codes — based on the Company, Account Type, as well as other Asset Fields (once the Codes are identified, they can then be used to tag assets)
• The new General Ledger Journal Entry Report provides detailed journal entries for disposals, transfers, acquisitions, and adjustment of assets.
Support for Negative Assets:
• More support for asset transactions and reports when the cost of an asset is less than zero
• The ability to create CIP transactions using negative values
General Performance Enhancement:
• Faster loading of Asset List
Tax Law Update:
• Luxury vehicle limitations for Automobiles and Luxury Trucks and Vans placed in service in 2012
Support for Internet Explorer 9:
• Now available
Special Notice:
BNA Fixed Assets Web Additional First Year Depreciation (AFYD) Rate Override
If you need to override the AFYD rate beginning in 2012, it will be necessary to change the "Edit Asset Type" Dialog. Please download and read the instructions for Claiming or Adjusting the AFYD Rate in 2012 (PDF) »
Don't forget to save the file so you can have it as a handy reference!
Version 2011.0 Summary of Changes
The application has been updated to incorporate the following changes included in the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010:
- Extension of Additional First-Year Depreciation (also called bonus depreciation) through 2012 (through 2013 for certain long-production-period property and transportation property).
- Increase, to 100%, Additional First-Year Depreciation for qualifying property placed in service after September 8, 2010, through 2011 (through 2012 for certain aircraft and long-production-period property).
- Updated luxury vehicle limitations to include Additional First-Year Depreciation on Automobiles and Luxury Trucks and Vans placed in service in 2011.
- Updated Section 179 amounts affecting both the maximum dollar limit and the investment threshold phaseout amounts for property placed in service in tax years beginning in 2012.
- Updated forms and supporting reports impacted by the legislation changes, including updates to Forms 4562, 4797, and 8824.
