Updating the estimated useful life on an active asset

How do you update the estimated useful life on an asset?

Capital Assets 

Estimated useful life was incorrect on asset 

1. In Adjustments and Retirements, click Transactions
2. Select Adjustment and click OK
3. Click Update
4. 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.
5. Save the transaction by specifying an effective date and reason code and clicking Accept
6. Click Output/Post to post the Transaction