USA When to create a seperate asset for equipment?


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We have a piece of equipment on the books and are now adding a new feature (an add on piece of equipment) to the asset. Does it get it's own asset #? Or is it considered an enhancement to the existing? The add on piece is 6k which falls into our FA threshold.
Thanks
 
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kirby

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Give it its own asset number. Reason is the tax forms for business personal property tax require info by date of acquisition. Using a separate asset number will help you to meet that requirement easily.
 

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