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How to Upgrade the existing asset cost through the multiple bills

in Ask A Guru 7 comments

Hi there,

I hope you are doing well. The asset was originally capitalized through a bill dated 15 July 2024 and is already live and depreciating. Subsequently, the asset was upgraded, and additional bills were raised in relation to this enhancement. We would like to confirm whether these additional costs can be added to the existing asset effective from November 2025, rather than creating separate assets in the Fixed Asset Module (FAM).

As per regional statutory requirements, the original asset cost and any subsequent upgrades are required to be maintained under a single Fixed Asset ID. Accordingly, we would prefer to include the additional amounts in the existing asset.

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