Automate fixed asset schedules — MACRS, Section 179 & bonus depreciation
Fixed asset schedules track every asset from opening balance through additions, disposals, and depreciation to closing NBV — and for US tax purposes, document the MACRS recovery periods, Section 179 elections, and bonus depreciation claims that feed Form 4562. Building these manually from your fixed asset register is time-consuming and error-prone. Rima automates the entire process. Send your fixed asset register and GL export via Slack or email and get back a completed schedule in your Excel template within 3 hours.
How it works
01
Send your fixed asset register and GL export
Drop your fixed asset register and GL export into your Rima Slack channel or email them directly. Include your depreciation policy — MACRS class lives, Section 179 elections, bonus depreciation elections — and any format your asset system produces is accepted.
02
Rima builds the roll-forward and applies the correct depreciation method
Rima constructs the opening-to-closing asset roll-forward, applies MACRS recovery periods and conventions, calculates Section 179 and bonus depreciation where elected, and reconciles to your GL depreciation expense and accumulated depreciation accounts.
03
Review your completed fixed asset schedule in Excel
Rima delivers a finished fixed asset schedule in your Excel workpaper template — NBV roll-forward, MACRS workings, Section 179 detail, bonus depreciation schedules, and Form 4562 support — ready for sign-off.
What Rima handles
Every fixed asset workpaper, automated
MACRS depreciation schedules
Recovery period, depreciation convention (half-year / mid-quarter / mid-month), and annual depreciation by asset class under IRS Publication 946.
Section 179 expensing workpapers
Section 179 election amounts by asset, remaining depreciable basis after election, and carryforward of any disallowed Section 179 deduction.
Bonus depreciation schedules
First-year bonus depreciation by asset (100% → 80% → 60% → 40% → 20% phase-down schedule) with remaining MACRS basis and regular depreciation on the residual.
Form 4562 support workpapers
Supporting detail for Part I (Section 179), Part II (bonus depreciation), and Part III (MACRS depreciation) — ready for return preparer review.
Asset disposal & gain/loss schedules
Adjusted tax basis at disposal, proceeds, gain or loss, and Section 1245 recapture vs. capital gain classification for Schedule D / Form 4797.
NBV roll-forward & GL reconciliation
Opening balance, additions, disposals, and closing NBV by asset class — reconciled to GL asset cost and accumulated depreciation account balances.
What you get
Fully managed. Always audit-ready.
3-hour SLA
Every fixed asset schedule is completed within 3 hours, 24/7.
Full audit trail
Every depreciation figure traces back to its IRS asset class and source document.
Your Excel templates
Schedules land in your existing templates — no reformatting, no copy-paste.
No setup required
Rima deploys and manages the agent — your team just sends requests.
FAQ
Common questions about fixed asset schedule automation
What is a fixed asset schedule and why do US accounting teams need one?
A fixed asset schedule is a workpaper that tracks the opening balance, additions, disposals, depreciation charges, and closing net book value (NBV) of each asset class over a period. For US businesses, it also documents the depreciation method elected — MACRS, straight-line, or Section 179 — and supports Form 4562 (Depreciation and Amortization) preparation. It is required for financial close, income tax filing, and audit.
Does Rima support MACRS depreciation schedules?
Yes. Rima builds MACRS (Modified Accelerated Cost Recovery System) depreciation schedules from your fixed asset register — applying the correct recovery period and depreciation convention (half-year, mid-quarter, or mid-month) for each asset class under IRS Publication 946. Output includes the annual depreciation calculation, accumulated depreciation, and NBV for each asset.
Can Rima prepare Section 179 and bonus depreciation workpapers?
Yes. Rima documents Section 179 expensing elections and bonus depreciation claims (currently 60% for assets placed in service in 2024, phasing down to 40% in 2025 and 20% in 2026) in your fixed asset schedule. The workpaper captures the elected amounts, the remaining depreciable basis, and the regular MACRS depreciation on any remaining basis — all formatted for Form 4562 support.
Does Rima support Form 4562 workpaper preparation?
Yes. Rima prepares the supporting workpapers behind Form 4562 — including the listed property schedule, Section 179 election detail, bonus depreciation by asset class, and regular MACRS depreciation by recovery period — so your return preparer can populate the form directly from Rima's output.
Does Rima handle asset disposals and gain/loss calculations?
Yes. Rima includes asset disposals in the fixed asset schedule — calculating the adjusted tax basis at disposal, the proceeds, and the resulting gain or loss. For US tax purposes, it flags whether the gain is ordinary (Section 1245 recapture) or capital, providing the detail needed for Schedule D or Form 4797.
How long does fixed asset schedule preparation take with Rima?
Rima completes every fixed asset schedule request within a 3-hour SLA, 24 hours a day, 7 days a week.
Outside the US?
Rima supports fixed asset schedules under non-US depreciation frameworks — UK capital allowances, IFRS IAS 16, and others. Get in touch to discuss your requirements.
Part of Workpaper Prep
Fixed asset schedules are one of many workpaper types Rima automates.
Ready to automate your fixed asset schedules?
Send your fixed asset register to Rima and get back a completed MACRS schedule, Section 179 workpapers, and Form 4562 support in your Excel template.