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.
Answer
Change Life of Fixed Asset
Best answer by Laura03
Hello,
Fixed Assets may be reversed, and then set up again, with a different Life.
Laura
+19Hello,
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
~ Laura Barber, WM Synergy
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.
+19Hello,
Fixed Assets may be reversed, and then set up again, with a different Life.
Laura
~ Laura Barber, WM Synergy
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