DepreciationPro holds your clients' fixed asset registers and computes depreciation from them, one tax year at a time.
You bring a register in, check it, and the forms and reports compute off it. Next year you roll the register forward instead of rebuilding it.
Everything hangs off a return
A return is one entity for one tax year. Assets belong to the return, not to the entity, which is what makes each year a fixed record you can go back to.
Four levels get you there: your firm, a client, an entity, a return. See How your firm, clients, entities, and returns fit together.
What a year looks like
Get the register in. Import a spreadsheet, a PDF, or an export from your old fixed asset software. See Your first fifteen minutes.
Check what landed. Work the assets grid: shape the columns, filter down, fix in bulk. See The Assets tab, and how to work a register on it.
Read the numbers off the tabs. Open the Form 4562 tab and it generates from the register. Form 4797, the Report tab, and State forms sit next to it.
Roll it forward. Next year's return starts from this one, with accumulated depreciation carried across.
What else it keeps
Two things sit alongside the tax register on the same assets.
A GAAP book. A second set of figures per asset that never touches the tax side. See Book depreciation, and how it stays separate from tax.
Journal entries. The monthly book entry, disposal entries, and a per-account roll-forward. See Journal entries, and what you have to set up first.
Disposals and splits happen on the register itself. See Record a disposal.