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Updating the estimated useful life on an active asset
Updating the estimated useful life on an active asset
Description of Issue
How do you update the estimated useful life on an asset?
Context
Capital Assets
Cause
Estimated useful life was incorrect on asset
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
, multiple selections available,
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