Tax books contain incorrect life for certain assets
Hi All-
We just discovered about 200 assets in one of our tax books that have an 8 year life, when they should have five. We noticed that most were in the same category and sure enough, two tax books were set up with the wrong life years. Unfortunately, the Mass Change form won't let me update the Life Years- it's greyed out.
I'm assuming that we can just update the assets and take catch-up depreciation, but is there any way to address this without having to manually update the 200 assets for two tax books?
Thanks in advance!
Joe