Edit a depreciation rule on an asset—Fixed Assets Management

When you assign an asset to a classification, the classification's depreciation rules are copied over to the asset. This saves time during asset creation so you do not have to set up rules individually for each asset. However, you do not need to use the default classification rules. You can modify the depreciation rules on individual assets as needed. Changes made to an asset’s rules only apply to that asset and do not affect the classification or other assets in that classification.

Before you begin

• If the asset is in service, place the asset back in review.

• If the asset is disposed, place the asset back in service and then place the asset back in review.

Edit a depreciation rule

1. Go to Fixed Assets Management > All > Assets.

2. Find the asset containing the rule that you want to edit.
   

   The asset must be in the Ready for review state. If it is not, consider placing the asset back in review.

3. In the Depreciation rules section, find the rule that you want to edit.

4. Select any field in the row to begin editing.

   • The Depreciation rule ID is not editable.

   • The Journal posting rule populates the Useful life units, Convention, Journal ID, and Book ID fields.