Description of Issue
How do you update the estimated useful life on an asset?
Context
Fixed/Capital Assets
Cause
Asset had an incorrect value for estimated useful life
Resolution
- In Adjustments and Retirements, click Transactions
- Select Adjustment and click OK
- Click Update
- In the Change column, on the Estimated life row, enter the net value of the change to useful life. This can be a positive or negative value.
- Save the transaction by specifying an effective date and reason code and clicking Accept
- Click Output/Post to post the Transaction
Additional Information
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