How to update current book value on an asset

How to update current book value on an asset

Fixed/Capital Assets

Current book value was accidentally left blank when asset was created

1. In Adjustments and Retirements, pull up asset and click Transactions.
2. Select Adjustment.
3. On Adjustment screen, click Update.
4. Enter the net change in the Change column for the Acquisition cost field and tab down to the next field.  The amount entered will copy down to the Current Book Value field.
5. If the acquisition cost was already correct on the asset, click back in the Acquisition cost field and zero out the amount there.  Confirm that amounts in the Adjusted column are correct.
6. Select reason code, enter effective date, and click Accept.
7. Click Output/Post.

The current book value of an asset will automatically be adjusted as transactions are made throughout the life of the asset.  Modifying the current book value outside of those normal transactions has the potential to cause reconciliation issues.  If you're unsure as to whether or not that field should be updated, please contact Munis Financial Equipment Support to review the asset.