Asset Reclassification
Hi,
We have a need to reclassify an asset from Equipment to Building. The Asset was capitalized in 2021 and already depreciation has been calculated on the asset.
How to now reclassify the asset to Building with revised life & Depreciation?
Do we need to create a new asset or the existing asset can be updated?
Appreciate any response. I couldn't fine any document in Knowledge Garden
Regards,
Subbu