The most useful item to aid in completing the form is an accurate and up to date asset listing. The way to handle a fixed asset purchase is to first create the asset as per the Guide at Manager Cloud.This has no effect on financials. A sample entry to record a fixed asset purchase would be as follows: Fixed asset journal entry. Depreciation. The guide is divided into eight sections – (I) Overview for. Filing a Business Property Statement, (II) Filing a Form 571-L Electronically (e-File),.