Integra Screen - FAM308 – Asset Reclass/Depreciation Change 

Reclassification/Depreciation Change 

This option allows you to update an Asset Record with details of Reclassifications and/or Depreciation Changes. This option refers to the effect of changing the Class or Depreciation Code of an Asset, without changing any of its Financial, Location, or Movement details. See the Data Entry flow diagram for an account of the role of this program in FAM.

Reclassifications can be used:

·    To correct errors which were made when entering an Asset Class Code during Asset Take-On.

·    To attach the Asset to a new Class, Sub-Class or Class Type which you set up via the Asset Class Codes Reference Table option.

·    To move an Asset from one Class to another.

Before proceeding with this option, ensure that any new Asset Class Codes you may require exist on the Asset Class Codes Table.

Depreciation Changes can be used:

·    To correct errors which were made when entering a Depreciation Class Code during Asset Take-On

·    To suspend an Asset (Depreciation Class Code 000) or to release an Asset that has already been suspended.

·    To change an Asset from one Depreciation Type to another (for example, Straight Line to Reducing Balance).

·    To increase or decrease an Asset's useful life and, therefore, the number of periods remaining to be depreciated (Straight Line Depreciation)

Depreciation Code

This option allows you to update an Asset Record with details of Reclassifications and/or Depreciation Changes. This option refers to the effect of changing the Class or Depreciation Code of an Asset, without changing any of its Financial, Location, or Movement details. 

Depreciation Code that must exist on the Depreciation Codes Table. When you enter a valid code, the description associated with that code displays for verification. This Depreciation Code will be used as the default during Asset Take-On for all Assets attached to the Class, Sub-Class, or Class Type in question.

If you are uncertain about the type of depreciation you want to attach to this Class, or it is not yet set up, or no depreciation is to be calculated, tab to display the default 000. The description Depreciation Suspended displays for verification.

When you set the depreciation code to 000 on an asset the asset is then SUSPENDED

If you try to amend an Asset that is in “SUSPENDED” status you will receive the message “Asset Code is Invalid.  You cannot select a suspended asset”

You can use the Integra screen - FAM308 Asset Reclass / Depreciation Change and change the depreciation code, once changed from depreciation code of “000” the asset is no longer suspended, you can then make the adjustments.