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X3 provides for the ability to change the useful life of an asset or the method
upon which the asset is depreciated.
1
Step 1: Run the Revise Depreciation process
Header Information
Fixed Asset: assign applicable fixed asset ID #
Last Depreciation Date: specifies the last period the depreciation expense
was generated for the asset
Adjust residual value: if you desire to adjust the residual value of the asset
this box should be ticked and the remaining value should thus be assigned
New Conditions
Method: one can assign a new depreciation method for the book and tax
purposes
Number of Years: The useful life of the asset can be updated here (in this
example the useful life is being changed from 10 years to 5 years
2
Log file that is generated from the process indicating that the depreciation
plan has been revised.
3
The asset now reflects the new useful life and it also denotes the date that the
new depreciation schedule will start to take place.