Change Financial Details of an Asset

In this example, you change the depreciation method and amortize the remaining cost over the remaining life of the asset.

Let's say your company transferred an asset with the description Crank Shaft Machinery from the light vehicle product line to the heavy vehicle product line. You need to:

• Change the depreciation method of the asset when it's transferred from the VEHICLE-OWNED STANDARD category to the VEHICLE-OWNED HEAVY category.

• Change the useful life to 6 years.

• Change the salvage value amount to 2750.

• Amortize the remaining cost over the remaining life of the asset.

Change Financial Details

1. On the Assets page, click the Adjust Assets panel tab.

2. On the Adjust Assets page, search for the Crank Shaft Machinery asset and select it.

3. Click Change Financial Details.

4. On the Change Financial Details page, click the Amortize check box.

5. Enter these values:

   Field	Value
   Depreciation Method	STL
   Life in Years	6
   Salvage Value Amount	2750.00

6. Click Submit.

7. On the Adjust Assets page, click the linked asset number and verify that the depreciation method, life in years, and salvage value are changed.