How to change critical depreciation fields

Do you want to keep the depreciation already calculated on the asset?

• Yes: If depreciation is currently ran through the desired date of the change, answer Yes, Current Thru date to the questions
• No: Answer Yes, Placed-in-Service date to the questions. This will clear all calculated depreciation and calculate as if you entered the asset as a new asset

To change a critical field (any field in the Book Information portion of the Asset Detail view):

1. Type in the desired value.
2. Click Save Asset, or Tab out of the field. 
3. When changing critical fields (Property Type, Placed-in-Service date, Acquired Value, Depreciation Method, Estimated Life, etc.) of an asset that has already been depreciated, Sage Fixed Assets needs to know how to continue with the calculations.
   Sage Fixed Assets will prompt with two questions:
   1. You are making a critical depreciation change. Changing assets will affect the existing depreciation information. Are you sure you want to continue?
      • Select Yes to continue with the change process
      • Select No to cancel the process and return to Asset Detail
   2. Select the date on which the critical depreciation change takes effect:
      This question asks when you want the change to apply to the asset:
      • Placed-in-Service Date: Current depreciation, Period Close and Beginning depreciation will reset to zero.
        • The next time you run depreciation, the calculation will be as if the asset was a new asset.
      • Beginning Date: Current depreciation will reset to the Beginning depreciation amounts. Period Close information will reset to zero. See What is the Beginning Date? for more information.
        • The next time you run depreciation, the calculation will be from the Beginning date of the asset. This option will be available only if the was a Beginning Date in the asset before making the change.
        • Note: For the child of a transfer, see Beginning Date is the only option when changing Critical Fields if the desired change is anything other than that Beginning date.
      • Period Close Date: Current and Beginning depreciation will reset to the Period Close Amounts. See How to do a Period Close for more information
        • The next time you run depreciation, the calculation will be from the Period Close Date of the asset. This option will be available only if the was a Period Close Date in the asset before making the change
      • Current Thru Date: Beginning depreciation will be set to the Current depreciation amounts. Period Close information where the Period Close date is before the current Thru date will reset to zero. See How to fully depreciate an under depreciated asset for more information
        • The next time you run depreciation, the calculation will be from the Current Thru Date of the asset

Notes:

• If you select anything other than Placed-in-Service Date and the depreciation method is currently SL, SF, or SH, you may need to make an additional change. The asset may continue to depreciate under the original basis and depreicate too early or late depending on the information changed. In this case, also change the Depreciation Method to RV.
• You can manually document details of critical changes in the Notes tab. Assets with notes will show up in the Asset List view with an icon.
• To identify under depreciated assets, use the Depreciation Adjustment Report (Reports, Standard Reports, Depreciation Adjustment)
• Changes to the Investment Tax Credit (ITC) are tied to the tax book. Any changes to ITC amounts will impact all books.