Enhanced interface

Edit an asset classification—Fixed Assets Management

You can edit a classification to change its name, status, General Ledger accounts, and depreciation rules. The Classification ID is not editable.

When you edit a classification, your changes do not affect assets that already use the classification. Only future assignments will use the new information.

Subscription	Fixed Assets Management
Regional availability	All regions
User type	Business
Permissions	Fixed Assets Management Classification: List, View, and Edit

Go to Fixed Assets Management > All > Asset classifications.
Find the classification that you want to edit.
Select Edit at the end of the row.
Edit the Name, Status, or General Ledger accounts.
The Asset classification ID is not editable.

Modify the depreciation rules.

Add a depreciation rule

In the Depreciation rules section, select Add row or Add (circle).

Select a Depreciation method.

Supported depreciation methods

Supported depreciation methods and conventions
Depreciation method	Full month convention	Half year convention	Full year convention
Straight line (SL)
Daily (DR)
150% declining balance (150DB)
200% declining balance (200DB)
Custom declining balance with true-up (CDBT)
Custom declining balance without true-up (CDB)
Derogatory (DER)—France

If you selected a custom declining balance method, enter a Depreciation rate (%) from 1.00 to 100.00.
Select a Journal posting rule.
The Journal posting rule populates the Useful life units, Convention, Journal ID, and Book ID fields from Fixed Assets Management setup. You can only use each journal posting rule once per classification or asset.
Enter a number for Useful life.
Review the Useful life units field to determine whether the Useful life is entered in months or years. A useful life of up to 1500 months or 125 years is supported.

Repeat these steps to add additional rules as needed.

Select Save.