Solved

Change Life of Fixed Asset

  • 17 May 2024
  • 3 replies
  • 32 views

Userlevel 3
Badge

Client wants to know if they do something like remodel a building can they extend the useful life of that building asset?  The Useful Life is grayed out.  Wondering how one might go about changing the life (extending the life) of a fixed asset.  

icon

Best answer by Laura02 18 May 2024, 04:47

View original

3 replies

Badge +18

Hello, 

Many times, I have seen Building Improvements listed as separate assets, and depreciated separately from the buildings that were improved.

These examples were clients in the USA.

Laura

Userlevel 3
Badge

Laura:  Thank you for your reply. 

I fully agree that capitalizing building improvements is a good practice.  This client is saying that the fact that they improved the building with a capitalized building improvement ALSO extended the life of the original asset.  They want to know IF/HOW they might extend the life of an existing asset in Acumatica.  

Badge +18

Hello,

Fixed Assets may be reversed, and then set up again, with a different Life.

Laura

Reply


About Acumatica ERP system
Acumatica Cloud ERP provides the best business management solution for transforming your company to thrive in the new digital economy. Built on a future-proof platform with open architecture for rapid integrations, scalability, and ease of use, Acumatica delivers unparalleled value to small and midmarket organizations. Connected Business. Delivered.
© 2008 — 2024  Acumatica, Inc. All rights reserved