Hello -
Our team has received a request from our Tax group to perform some adjustments to specific fixed assets in AX, spawned from the buying and selling of retail locations within our business. That said, we have relatively little experience with these types of changes and are looking for some guidance as to how we should approach each one of these requests. Can someone share the steps for performing each one of the below?
The tax books (no change to GAAP books) would need to be adjusted for the specific assets listed on the file for the following-
- Need value adjustment (write up or down, depending on asset)
- Change remaining lives
- Remove tax accumulated depreciation
Thanks,
Kyle
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