Editing Asset Data

After you have entered asset data, you can edit the data anytime by going to Asset Detail and making changes directly in asset fields. However, when you change any fields used in calculations, you'll have to perform additional tasks in order to update the data. Follow the guidelines provided below when editing asset data.

Editing Descriptive Fields

The descriptive fields do not affect depreciation. You can change the data in descriptive fields at any time.

Editing Book Information Fields

After you calculate depreciation or enter beginning depreciation for the asset, when you change an entry in the book information fields the system assumes that the current depreciation figures are no longer correct. The system displays a message asking you if you want to accept the change and reset the current depreciation amount. If you answer No, the change does not take effect. If you answer Yes, the system displays a second message asking when you want to apply the change to the depreciation-critical field.

After you have reset depreciation and made your changes, select the Depreciate command from the Depreciate menu to get current depreciation figures.

Editing Financial Book Fields

If you change information in the Financial book, you can force the system to determine new default values for the other books. For example, if you change the Financial book's estimated life from 5 years to 10 years, you may also want to make this change in the Budgetary 1 and Budgetary 2 books. However, if you already changed information in the other books to values you want, you may not want to overwrite your data with the new default values.

For this reason, before you leave the asset after making changes in the Financial book, you must decide whether you want the new defaults to overwrite the existing data in the other books. If so, select Apply Book Defaults from the Asset menu. The system displays a message asking you to confirm your intention to overwrite information in all open books. For more information, see Applying Book Defaults.

Editing Transfer Dates

To edit transfer dates, you must first delete the transactions (see Deleting Asset Transactions), then re-transfer the assets.

Editing Whole Disposals

You can edit disposal information. After you change the information, click the Calculate button to obtain the new gain/loss information, and then click the Save button.

Editing Partial Disposals

To edit partial disposals, you must first delete the transaction, and then re-enter the disposal information.

Editing Inactive Assets

You cannot edit inactive assets. To edit an inactive asset, you must first reactivate it (see Reactivating Assets).