Symptom

Installed asset for incorrect Value.

Additional Information...

Changing theValue on an installed asset.

Resolution

The Fixed Asset Adjustment process can be used to make adjustments to Installed Assets:

1) New Value Adjustment

2) New Salvage Value Adjustment

3) New Life Adjustment

4) New Accumulated Depreciation Adjustment

Navigate to the Fixed Asset module > Adjustments menu item.

Create an Adjustments batch.

Use the drop down on the "New" icon to pick the type of adjustment you would like to make.

Choose "New Value Adjustment".

Use the link to find the Fixed Asset you would like to make an adjustment on.

The adjustment window displays three sections -

1) the current value

2) the adjustment

3) the result of the adjustment

Enter the adjustment amount into the open field in the adjustment section. This will result in a change to the "Result of the Adjustment" section.

Double check to make sure the displayed amount is correct, enter a Tran Date and a Tran Description. The Transaction date in this batch is critical to the calculations.

Now save your change.

Continue through the batch process through the Commit step.

Work Around

If no depreciation has been calculated on the asset you can change the status of the Fixed Asset to "Delete" and recreate the asset with the correct values. If you would like to use the same Fixed Asset number you can change the Asset number on the asset in delete status and create the new asset with the original number.