The challenge is that, once an asset is fully depreciated, the system does not allow users to update its useful life. This prevents the capitalization and depreciation of the overhaul costs over the newly extended asset life.
Question
Change the Fully Depreciated Assets to Active status
+20Hello,
I think you asking how to reverse an asset so that you may change its useful life.
I recommend that you search Acumatica Community (link to one of many related articles) for how to reverse Fixed Assets. Next, in a copy of your tenant, follow the suggestions/instructions for reversing fixed asset depreciation and reconciliation, returning the asset to a new state. Then change its useful life and re-depreciate. When you confirmed the steps, repeat in your live tenant.
Hi
My suggested approach is to treat the overhaul as a Component Asset rather than modifying the closed/depreciated asset.
Create a new asset for the overhaul, capitalize the overhaul costs, and set the original asset as the Parent Asset. Then assign the new useful life (e.g., 3 or 5 years) and depreciate it normally.
This keeps the original asset history intact while providing proper tracking and reporting for the overhaul.
Thank You.
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