NSC | FAM > Change the Asset Type of Depreciating Assets

SCENARIO:

User wants to change the Asset Type of an Asset that has already started depreciating in periods that are closed.

SOLUTION:

1. Asset Transfer
2. Update Depreciation Schedule
3. Change the previous Depreciation Histories manually or through a CSV import

ILLUSTRATION:

Sample Asset:

Asset Transfer:

1. Go to Fixed Assets > Transactions > Asset Transfer 
2. Asset ID/Name: Choose the Asset
3. Transfer Date: Select the date that should be on or before the last depreciation. The Last Depreciation Date field is available on the right side so you can check
4. Asset Type: Select the Asset Type you want to change it to
5. Click on Process Transfer