Performing a Bulk Edit

Purpose

The Bulk Edit feature allows the depreciation method and/or estimated life to be changed for one or multiple qualifying assets in one seamless operation. The changes can be effective as of the Placed-in-Service date, with an option to retain beginning information, or the Current Through Date.

Unlike the Critical Depreciation Change or Reset Depreciation, if an asset has been depreciated through a certain date and the Placed-in-Service date is selected as the effective date, depreciation will be recalculated for the asset from the Placed-in-Service date to the Current Through date at the time the Bulk Edit is performed.

To access Bulk Edit, go to the Depreciation Menu and select Bulk Edit. The Bulk Edit wizard will display.

Tip: Go into Asset Detail for the asset you wish to change before selecting Bulk Edit from the menu. The Groups and Books screen will default to the selected asset.

Before Using Bulk Edit

Important! If you have security turned on, the Bulk Edit feature will not be enabled from the Depreciation menu. If you wish to enable Bulk Edit for a company security profile, set Bulk Edit to Edit on Define Company profiles from the File menu under Password Security. Only the Supervisor security profile can make changes to security.

The bulk edit cannot be undone after it is executed. It is advisable to back up the company before performing a Bulk Edit. If there are unintended consequences to a Bulk Edit, the data can be restored to its previous state.

Bulk Edit Check List

Before performing a Bulk Edit go through the following check list:

Backup the company data
Decide which books are to be changed.
If changing the Depreciation Method, determine the From depreciation method, which is the original depreciation method. All qualifying assets with the selected depreciation method will be changed to the depreciation method selected in the To list.
- Determine the To depreciation method, which is the new depreciation method.
- Not every depreciation method listed in the From list is available in the To list. See Bulk Edit – Fields to Edit Window for a list of depreciation methods available in the To list.
If changing the Estimated Life, determine the From estimated life. All qualifying assets with the entered estimated life will be changed to the estimated life in the To field.
- Determine the To estimated life, which is the new estimated life.
Determine the Effective Date of the new method and/or life. Depreciation will be recalculated from the date chosen. See Bulk Edit – Effective Date Window for more information on what will happen to the depreciation calculation for the different options. It can be either:
- the Placed-in-Service Date, with or without beginning information retained, or
- the Current Thru Date.
Decide whether to create a group of assets that is limited to the assets you wish to change, or if you will use the criteria selections in Bulk Edit to filter the assets for you. You can do a combination of the two also. See Assets Not Eligible for Bulk Edit below for assets that cannot be updated using Bulk Edit.
If needed, create a group of assets to be changed. See Creating Groups for more information.
Verify the assets you will be changing have been depreciated to the desired Current Through date.

Overview

Go through each panel of the wizard entering or selecting the criteria for the Bulk Edit.

Once all criteria have been entered or selected, validate the assets to determine if they qualify for the Bulk Edit. See Bulk Edit – Validation Window for more information on the Validation process.

Once the Validate button is selected, each asset will be validated as to eligibility for the current Bulk Edit and the Bulk Edit Validation report will display. Review the report to verify assets will be changed as expected.

Valid assets are eligible for the Bulk Edit.
Assets with only warnings are eligible for the Bulk Edit.
Assets with an error do not qualify for the Bulk Edit and will not be processed.

If your report has a lot of assets to review, open the .csv file in Excel to easily filter and sort on any column of data.

After running the Validation report, the Execute button will be enabled. Once the Execute button is selected, the Bulk Edit changes will be processed, and the Bulk Edit Execution report will display.