How to change critical depreciation fields

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

• Yes: If you've run depreciation through the desired date of the change, answer Yes, Current Thru date
• 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 you change a critical field on a depreciated asset, the program needs to know how to continue. Critical Depreciation fields include Property Type, Placed-in-Service date, Acquired Value, Depreciation Method, Estimated Life.
4. Sage Fixed Assets will prompt you 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 only show if the asset has a Beginning Date before making the change.
        • Note: For the child of a transfer, see our article here.
        • 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 there was a Period Close Date in the asset before making the change.
      • Current Thru Date: Beginning depreciation sets to the Current depreciation amounts. Period Close information where the Period Close date is before the current Thru date will reset to zero. See our article on fully depreciating assets for more information.
        • The next time you run depreciation, the calculation will be from the Current Thru Date of the asset.

Notes:

• If you choose anything other than Placed-in-Service Date, review the Depreciation Method.
  If the method is SL, SF, or SH, you may need to set the Depreciation Method to RV.

  
  
  • The asset may continue to depreciate under the original basis. This can result in the asset depreciating early or late depending on the information changed.
    • The asset can fully depreciate too early after the change (Over Depreciated).
    • The asset can also under depreciate. This means it will leave a net book value at the end of its life.
    • The RV method will prevent both of these situations.
      • The asset must have two or more months of life left to fully depreciate using the RV method
• 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.