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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
  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 
Additional Information





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